A Richmond realtor has had his license suspended after closing deals referred to him from an unlicensed Chinese real estate website.
Realtor Alban Wang was referred 17 clients between November 2012 and July 2013 by a Chinese website aimed at pushing Metro Vancouver real estate.
According to a consent order posted by the Real Estate Council of B.C., Wang says he was approached by a woman only identified as F.N. who isn’t licensed, but was going to start a website.
The agreement between the pair worked like this: Wang would arrange showings, draft up contracts and make offers but he’d have to pay back 90% of his commissions.
He agreed and at the end of it he paid more than $200,000 direct from his personal real estate account.
He’s been disciplined for paying referral fees to an unlicensed brokerage without telling clients.
The website has been redacted from the document but vanfun.com shows up near the end of the consent form.
His license was suspended yesterday for one year and he’s required to pay $10,000 to the council and complete the Realtor Estate Trading Services Remedial course.
It’s not the first time he’s been in trouble.
He was suspended in 2012 for two weeks for shadow flipping.