Hector Cortez - Lifetime Withdrawal from Industry

Calgary, Alberta – On November 5, 2008, Hector Cortez, former associate most recently registered with 4th Street Holdings Ltd. o/a Re/Max Real Estate (Central) in Calgary, applied to the Real Estate Council of Alberta (RECA) to withdraw from industry membership in accordance with section 54 of the Real Estate Act.

At the time of his withdrawal application, a RECA investigation was ongoing to determine whether he failed to provide relevant information to a listing agent and purchaser. As well, it was alleged that Mr. Cortez failed to provide a $5,000 trust deposit to the brokerage and instead converted the monies to his own use.

Mr. Cortez’s application to withdraw was approved by RECA and results in a voluntary lifetime prohibition from industry membership. By virtue of operation of the Real Estate Act, conduct proceedings are discontinued. Mr. Cortez ’s withdrawal application does not constitute an admission of misconduct.

The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for regulating industry professionals in the real estate, mortgage broker, and real estate appraisal industries under Alberta’s Real Estate Act. RECA is mandated to protect consumers and to provide services that enhance and improve the industry and the business of industry members.