After handing in her real estate licence in 2020 amid a misconduct investigation, Gobinder Kaur (Gina) Takhar has now had it officially cancelled following an agreement with the BC Financial Services Authority, which also includes a $55,000 fine.
Takhar was found to have committed professional misconduct by failing to disclose the nature of her representation to assignees looking to purchase two properties in Chilliwack, in 2017.
Between 2010 and 2020, Takhar was licensed as a trading representative with Global Force Realty Ltd., according to BCFSA.
According to a signed consent order with the regulator, Takhar was involved in the assignment of two properties by an initial buyer — a corporate entity — whose sole director and minority shareholder was Takhar’s spouse.
In 2017, three sisters sought to buy the investment properties using a modest inheritance as the down payments.
Combined, the final cost of both properties was $850,000 and the assignment fees totalled $75,000.
The sisters closed the deals by November 2017 but on Nov. 27, 2017 lodged a complaint with the Real Estate Council of BC. At issue was an alleged lack of proper disclosure.
“The complainants say that throughout all of their communications and meetings with Ms. Takhar, beginning with their meeting in February 2017 when they confided in her and provided her with the Confidential Information, and throughout all their dealings with Ms. Takhar regarding [both] properties, Ms. Takhar’s actions lead them to believe she was acting as their agent and was acting in their best interests.
“Ms. Takhar maintains that she was fully transparent regarding her neutral role in the transactions and regarding the assignment fee. Ms. Takhar accepts that she did not clearly explain her role in the transactions to the sisters,” the order states.
Takhar voluntarily surrendered her licence in August 2020 but BCFSA pursued cancellation of the licence, plus a penalty.
