Calgary, Alberta — On August 16, 2022, a hearing panel for the Real Estate Council of Alberta (RECA) ordered the lifetime cancellation of the real estate broker licence of David Stephen Kennedy.
Kennedy was also prohibited from applying for a real estate associate licence for a period of 36 months, and fined $1,500 in costs associated with RECA’s investigations and hearings.
A real estate broker licence is required for individuals who run a real estate brokerage. Each brokerage can only have one broker, who is responsible for all activity within a brokerage. A real estate associate licence is required for individuals who register with a brokerage to carry-out real estate activities on behalf of the brokerage. Each brokerage can have multiple associates.
During the hearing process, Kennedy admitted to 21 breaches of the Real Estate Act Rules. Details of the breaches are found in the Hearing Panel’s written decision on reca.ca. RECA publishes these decisions to protect consumers, ensure transparency, and to educate existing RECA licensees on standards of practice.
CORRECTION: The Hearing Panel Decision originally indicated a conflict of interest in this case due to Kennedy holding financial interest in Shea Floors of Red Deer. This information was incorrect: Kennedy has never held interest in Shea Floors. The conflict of interest in this case stemmed from a separate joint investment with the owner of Shea Floors in a property that was unrelated to the business itself. This clarification does not impact the outcomes of this case.
These facts have been confirmed by all parties and have since been corrected in the published Hearing Panel Decision.
Kennedy’s broker licence has been suspended since December 13, 2019. This was done to protect the public while RECA conducted its investigation into Kennedy’s conduct. The Hearing Panel’s decision to impose a 36-month prohibition to apply for a real estate associate licence commenced on the date of his original suspension, and ends on December 13, 2022. After that date, Kennedy may reapply for an associate licence. Mr. Kennedy may at no point apply for a real estate broker licence, due to his lifetime cancellation order.
If Kennedy chooses to apply for an associate licence after December 13, 2022, RECA will first require Kennedy to successfully complete all the pre-licensing education courses required for new associates.
Mr. Kennedy was licensed with RECA beginning in 1997, and was formerly registered with Manor Management Ltd.