John William Wade (source: Facebook)
Alberta’s real estate regulator has revoked the licence of Calgary agent John William Wade following serious misconduct findings.
The Real Estate Council of Alberta (RECA) announced this week that Wade’s licence to trade in real estate was cancelled effective June 11, and he is barred from reapplying for two years.
A RECA hearing panel made the decision after it found Wade violated multiple sections of the province’s Real Estate Act Rules.
In addition to the cancellation, Wade was ordered to pay four fines totaling $25,000 and $12,070 to cover investigation costs. He must also complete required educational courses before he can apply for a licence again, no sooner than June 11, 2027.
“The vast majority of RECA licensees adhere to high standards of professionalism and integrity,” said RECA in a statement.
“The panel recognized Wade’s very serious unprofessional conduct and breach of the rules on multiple occasions. It is of the utmost importance to RECA that the public has confidence in our regulated professionals, as a profession’s most valuable asset is its collective reputation and the confidence it inspires.”
Wade was found to have breached four rules:
- He violated his fiduciary duties to clients;
- Discouraged a client from seeking expert advice;
- Took part in fraudulent activities connected to his services;
- And failed to enter into a written service agreement with clients.
At the time the misconduct occurred, Wade was registered with Irealty Calgary Inc., operating as Re/Max Irealty Innovations. When his licence was cancelled, he was working as a real estate associate with Greater Property Group Inc.
The full written decision from the panel will be posted publicly at reca.ca once available.
Consumers are reminded to verify the licensing status of real estate professionals through RECA’s online database.
Courtney Zwicker is a digital reporter and associate editor for REM. Based in Atlantic Canada, she has over a decade of experience covering daily business news.
