The Real Estate Council of Alberta says it has fined a Calgary man $15,000 for posing as a realtor and deceiving potential homebuyers and renters.
The council says Derek Johnson rented one property — collecting a damage deposit and rent — in the southwest community of Woodbine that had been foreclosed by the Royal Bank of Canada.
- For more on the story from CBC's Bryan Labby, watch the video above by clicking on the image.
The bank was unaware Johnson had advertised the property and signed a rental agreement with tenants.
He also advertised properties for sale and rent on freelistcalgary.com without the owner's knowledge, and listed properties for sale for less than the price set by the owner or realtor.
The council says in schemes like this people obtain lists of foreclosed properties and then try to rent or sell them.
"We find it's for nefarious purposes, and that is that they want to generate cash flow," said Charles Stevenson of the Real Estate Council of Alberta. "If at all possible they'll find a way to steal identity, perpetrate mortgage fraud and move the people on through without their knowledge."
Calgary police would not say whether they will be investigating the Real Estate Council of Alberta information, but it is against the Real Estate Act to deal property without a licence in the province.
The council says Albertans should check its website to ensure the people they're dealing with are licensed realtors.
CBC News tried to contact Johnson, but no one answered the door at the southeast Calgary house where his business is based.