Real estate agents face state discipline, fines
- October 15, 2011 - 5:38 PM
The Minnesota Department of Commerce disciplined 38 licensed real-estate professionals or others working unlicensed in the field in the second and third quarters of 2011. Those with the highest fines are detailed here as well as the allegations made against them by the state. The disciplined parties agreed to pay the fines and take corrective action. The details of the allegations are from the agency's consent orders.
Ikechukwu H. Aguocha, Brooklyn Park, $7,000 fine
The salesperson drew up a residential lease and collected rent and a security deposit from a tenant but failed to pass the funds and documentation along to his broker.
Ryan B. Boyer, Minnetonka, $5,000 fine
The salesperson engaged in misleading advertising, cold-called homeowners under contract with another broker, conducted business using a fictitious name, failed to cooperate with a state investigation and "intentionally made material misstatements of fact."
RECA, LP, Columbia, S.C., $5,000 fine
The company acted in the capacity of a real estate broker by managing and marketing real estate for another and for a fee without having a valid license.
Erik S. Laine, Rogers, Jesse K. Halverson and RenterConnect LLC, Shakopee, $5,000 total fine
Laine and Halverson engaged in residential property management under a name other than the brokerage name to which they were licensed. Laine misstated on a license application that he had never been charged with committing a crime, despite being charged in 2001 with two felony controlled-substance crimes.
Lisa M. Fredin, Windom, Minn., $3,500 fine
Fredin, a broker doing business as Clark Properties II, deposited earnest money into a trust account before there was a signed purchase agreement, contrary to directions of the buyer and seller. She failed to properly supervise her agent.
Joseph L. Daniels, Sioux Falls, S.D., $3,000 fine
Daniels, a mortgage loan originator, remitted only one of two completed appraisals to a lender.
Holli S. Pahlen and Robert S. Brellenthin, Warroad, Minn., $3,000 fine each
On three occasions while purchasing property, Pahlen failed to disclose to sellers in writing that she was a real estate salesperson and in what capacity she was acting. Brellenthin, the agent who represented Pahlen in the transactions, also failed to disclose Pahlen's status as a real estate licensee.
Mark W. Petersen, Shakopee, $2,750 fine
The appraiser falsely reported that a property had a front porch, failed to disclose a conflict of interest and cropped photos to remove copyright information. He was told to take a course on professional standards.
Hard Data digs into public records and puts a spotlight on rule breakers in Minnesota. Contact me at email@example.com.
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