Comments on: B.C. Realtor ordered to surrender “ill-gotten gains” in $3.3M sale after breaching fiduciary duty https://realestatemagazine.ca/b-c-realtor-ordered-to-surrender-ill-gotten-gains-in-3-3m-sale-after-breaching-fiduciary-duty/ Canada’s premier magazine for real estate professionals. Sat, 25 Jan 2025 20:14:05 +0000 hourly 1 https://wordpress.org/?v=6.7.1 By: Kim Louie https://realestatemagazine.ca/b-c-realtor-ordered-to-surrender-ill-gotten-gains-in-3-3m-sale-after-breaching-fiduciary-duty/#comment-21295 Sat, 25 Jan 2025 20:14:05 +0000 https://realestatemagazine.ca/?p=36760#comment-21295 In cases of clear cut fraud (not saying this case is such, but investigations may prove it to be), I feel criminal charges should be filed. That’s my humble opinion.

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By: Mike Reilly https://realestatemagazine.ca/b-c-realtor-ordered-to-surrender-ill-gotten-gains-in-3-3m-sale-after-breaching-fiduciary-duty/#comment-21238 Wed, 22 Jan 2025 22:12:54 +0000 https://realestatemagazine.ca/?p=36760#comment-21238 In reply to Nick G.

Yes Nick , I thought the same thing as you when I read it . Given the disparity between what Mr. Hu purchased the property for and what he sold the property for I can’t help but wonder if Mr. Hu did not advise his client of the correct value of the 2038-174th Street Property as well .

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By: Gord Gerrie https://realestatemagazine.ca/b-c-realtor-ordered-to-surrender-ill-gotten-gains-in-3-3m-sale-after-breaching-fiduciary-duty/#comment-21219 Wed, 22 Jan 2025 13:07:57 +0000 https://realestatemagazine.ca/?p=36760#comment-21219 In reply to Ron Farrington.

UH??? reforestation BCFSA got wind of it ?

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By: Larry Good https://realestatemagazine.ca/b-c-realtor-ordered-to-surrender-ill-gotten-gains-in-3-3m-sale-after-breaching-fiduciary-duty/#comment-21213 Wed, 22 Jan 2025 00:38:22 +0000 https://realestatemagazine.ca/?p=36760#comment-21213 The whole process is against the public interest.No consideration of Agency. Total devious intent,conflict of interest, remove his licence, no consideration for re-licencing because he commited an act against all rules, guidelines of business practice, and brought a negative impression to the real estate industry. Suggest BCFSA will get their teeth in it and he will have fines as well as coughing up the proceeds of ripping off the public?

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By: Ron Farrington https://realestatemagazine.ca/b-c-realtor-ordered-to-surrender-ill-gotten-gains-in-3-3m-sale-after-breaching-fiduciary-duty/#comment-21203 Tue, 21 Jan 2025 03:17:19 +0000 https://realestatemagazine.ca/?p=36760#comment-21203 Ron Farrington
Did this guy ever attend a CPE seminar on agency ??
What if anything did his Managing Broker do ?
And why did it have to go to a lawsuit in the SCBC reforestation BCFSA got wind of it ?

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By: Jeff Miller https://realestatemagazine.ca/b-c-realtor-ordered-to-surrender-ill-gotten-gains-in-3-3m-sale-after-breaching-fiduciary-duty/#comment-21199 Mon, 20 Jan 2025 21:35:47 +0000 https://realestatemagazine.ca/?p=36760#comment-21199 How much transparency among all the realtors involved? Who was Tao’s referred realtor and his/her role in all of this if Hu advised Tao on the buyer assignment/submission Also who was the listing agent? Also what about the listing agent? Seems a $1.2 M profit quite high. And surrender profits to who…..?

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By: Dawn Setter https://realestatemagazine.ca/b-c-realtor-ordered-to-surrender-ill-gotten-gains-in-3-3m-sale-after-breaching-fiduciary-duty/#comment-21198 Mon, 20 Jan 2025 16:44:49 +0000 https://realestatemagazine.ca/?p=36760#comment-21198 I agree with all of the above. He should lose his license. It’s a privilege to help people with the biggest purchases and sales of their lives. People who do this kind of stuff and or commit fraud should not be allowed to practice Real Estate.

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By: Jack Jones https://realestatemagazine.ca/b-c-realtor-ordered-to-surrender-ill-gotten-gains-in-3-3m-sale-after-breaching-fiduciary-duty/#comment-21197 Mon, 20 Jan 2025 16:13:26 +0000 https://realestatemagazine.ca/?p=36760#comment-21197 “A Chinese immigrant of modest means (!!) signed a contract to buy a property listed for $ 2.1 million”.
Seriously?? Modest?

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By: Richard Nichols https://realestatemagazine.ca/b-c-realtor-ordered-to-surrender-ill-gotten-gains-in-3-3m-sale-after-breaching-fiduciary-duty/#comment-21195 Mon, 20 Jan 2025 15:37:51 +0000 https://realestatemagazine.ca/?p=36760#comment-21195 In reply to Janet.

As stated…

“The B.C. Financial Services Authority, which oversees real estate agents in the province, is reviewing the judgment and considering regulatory action.”

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By: Tamara https://realestatemagazine.ca/b-c-realtor-ordered-to-surrender-ill-gotten-gains-in-3-3m-sale-after-breaching-fiduciary-duty/#comment-21193 Mon, 20 Jan 2025 15:31:42 +0000 https://realestatemagazine.ca/?p=36760#comment-21193 In reply to Yvan Rhéaume.

This is why we are seen as criminals by the public! Get rid of agents like this altogether, they should never have a license again if this is their method of doing business, as agents we know this is wrong just as he did when he did it. It’s not a ‘one of’ or a mistake, it’s their lack there f a moral compass. Take these licenses away for good!!

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