I want all of my trusted and valued clients and thier friends and family to be informed and not fall prey to unlicensed mortgage brokers and agents. This is an important alert that came out from RECA - The Real Estate Council of Alberta today and if you or anyone you know has been approached or has had contact with Derek Johnson from Joe Rheal Estate then you need to read the following.
Consumer Alert: Derek Johnson, aka John Davis,
Predatory Real Estate and Mortgage Practices - Unlicensed Activity
For immediate release
November 13, 2014
Derek Johnson is breaking the law. He needs a licence under the Real Estate Act to trade in real estate on behalf of others and deal in mortgages. He does not have these licences and has never had them.
Derek Johnson says he is helping people. He is not. He preys on home owners who are in a vulnerable financial position and facing foreclosure.
Johnson used to operate Free List Calgary and is currently involved in www.joerhealestate.com (Joe Rheal Estate). He has also been involved in Partners in Success Mortgage Inc. and New Age Financing. None of these are licensed to trade in real estate or deal in mortgages in Alberta.
The Real Estate Council of Alberta has issued a direction to Johnson to cease unlicensed practice. Johnson has ignored this direction to stop. The Council is taking further action.
If someone offers to represent you in a real estate transaction or to deal in a mortgage for you, ensure that individual is licensed by RECA. RECA is the licensing and governing body for real estate, mortgage brokerage and real estate appraisal professionals in Alberta. Consumers can find out if an individual is licensed through RECA’s website, www.reca.ca. Use the “Searching for an Industry Professional” tool.
Licensed individuals must meet and maintain licensing requirements. Among them, individuals must provide a Certified Criminal Record Check prior to licensing, complete comprehensive pre-licensing education and ongoing re-licensing education, and maintain errors and omissions insurance. In the event of a licensee’s fraud, breach of trust or failure to account or disburse money in accordance with the terms of trust, a consumer may be eligible for compensation from RECA’s consumer compensation fund.
If you have concerns as a result of dealings with Derek Johnson, Free List Calgary, Joe Rheal Estate, Partners in Success Mortgage Inc. or New Age Financing, please contact the Real Estate Council of Alberta toll-free at 1-888-425-2754.
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