News Bulletin - April 15, 2024

Suspension of Real Estate Broker Licence: Timothy Blais, Licensed With Gateway Business Brokers Inc.

Effective April 15, 2024

The Registrar hereby gives notice the real estate broker licence for Timothy Blais, licensed with Gateway Business Brokers Inc., is suspended effective April 15, 2024 up to and including December 15, 2024 for violating the following:

• Two breaches of Real Estate Trading Act Section 22 (1)(a)
• One breach of Commission By-law 702, Article 12
• One breach of Real Estate Trading Act Section 30 (3)
• One breach of Commission By-law 702, Article 21
• One breach of Real Estate Trading Act Section 22 (2)(a)

Violations
Blais was in an agency representation agreement with a seller of a business which included a commercial lease.   
Blais breached section 22 (1)(a) of the Real Estate Trading Act, by:

• Making an offer to purchase the business, while still in an agency relationship with the seller. Blais wrongly attempted to treat himself and his business partners as customers. 
• Telling the sellers that one of the competing buyers for the business had financing problems and the other did not have relevant business experience. The evidence did not support these representations.

Blais breached Commission By-law 702, Article 12 by not telling one potential buyer that they (the buyer) were competing.

Blais violated Real Estate Trading Act Section 30 (3) by facilitating an offer that was not executed. Without that buyer’s knowledge or consent, Blais prepared a letter of intent on their behalf based on previous conversations and relayed it to the seller.
 
Blais violated By-law 702, Article 21 by presenting an offer without disclosing in writing his status as a licensed person and his intent to purchase. 

Blais violated the Real Estate Trading Act Section 22 (2)(a) and demonstrated a lack of knowledge, skill, and judgement by:

• Not obtaining from one of the buyers a written and signed acknowledgement that they were customers of the brokerage before he prepared their Letter of Intent.
• Submitting an accepted Letter of Intent that identified the deposit to be held by his brokerage and, simultaneously, a law firm (two separate but contradictory deposit conditions).

Penalties
Blais is also ordered to pay $3,500 in fines. Blais is not eligible to apply for a broker, managing associate broker or associate broker licence until December 16, 2024. The reinstatement of his broker licence is conditional on him completing the Nova Scotia Broker Licensing Course and passing the examination. Blais may apply for a salesperson licence in the interim.

This notice has been distributed to licensees in accordance with Commission By-law 839.