Terry William Paranych – Real Estate Licence Suspended

Calgary, Alberta – On April 10, 2017, a Real Estate Council of Alberta (RECA) Hearing Panel suspended Terry William Paranych’s real estate licence for three months; ordered him to pay fines and costs totaling $96,000; and, ordered him to complete the Fundamentals of Real Estate course and all related examinations.

Mr. Paranych shall not be re-authorized to trade in real estate until he pays all fines and costs ordered by the Hearing Panel, as well as completes all education as required by the Hearing Panel.

The Hearing Panel found Mr. Paranych:

Mr. Paranych was previously registered as a real estate associate with Elite Ownership Group Ltd. o/a/ Re/MAX Elite, and most recently registered with Excellence Real Estate Edmonton Ltd. o/a/ Re/MAX Excellence in Edmonton.

To review the Hearing Panel order in its entirety, please click here.

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