SREC Fine Facts

The Saskatchewan Real Estate Commission (SREC) regulates the real estate industry in Saskatchewan, focusing on licensing, education, and disciplinary functions to protect consumers and ensure ethical conduct. All real estate brokerages, brokers, branch managers, and salespeople must be registered with the SREC.

We are often asked what a from SREC may look like. Below are some cases that resulted in fines. We can't say with certainty that every situation will be the same, or be handled the same, but they are good reference points.

Discrediting or disparaging colleagues publicly

A realtor® criticized a peer and inspector on Facebook, calling them “inexperienced” and “unqualified.”

Registrant received:

An order of reprimand

$4,000 fine - failure to pay within 6 months will result in termination

Misrepresentation of Property Details of a Listing

Example 1: A salesperson listed a home’s size inaccurately (12.5% over‑stated).

Registrant received:

An order of reprimand

$1,750 fine - failure to pay within 6 months will result in termination

Example 2: Based on information from the seller, since the Registrant could not see the foundation wall, he listed a property as having a concrete foundation. During the home inspection, it was discovered that it was a preserved wood foundation.

Registrant received:

An order of reprimand

$2,500 fine - failure to pay within 6 months will result in termination

Listing a property without allowing showings

Listing agent submitted the property to the MLS system June 2 at approximately 2:00 p.m. Seller had requested no showings until 9:00 a.m. June 3.

Red comment area and Realtor remarks indicated no showings until June 3.

A neighbour of the Seller called the listing agent from the sign asking if they could view the property that night. The seller agreed, and also agreed to allow a few more showings around the same time.

Listing agent removed Red comment but did not edit the Realtor comments section.

The property was shown 3 times that evening, resulting in 2 offers. The sellers accepted one.

Registrant received:

An order of reprimand

$1,250 fine - failure to pay within 6 months will result in termination

Professional Misconduct

Also conduct yourself in a professional manner when interacting with your clients.

A registrant was charged for making the following statements:

“and they’re shittin’…”

“and that’s a bank draft, there’s no fuckin’ around.”

“awe fuck, we love it”

“I’ve never seen anybody douche out like that and I’m sorry, like that’s why there’s deposits for when people douche out like that, it’s like at least this is workin out in the end here though, so like, fuck, I was shittin’ my pants, like I’ve been shakin’ all day today”

“We’re good to go. And at least he’ll see your place when it’s vacant so that makes it even better to visualize his shit in there”

Registrant received:

An order of reprimand

$3,000 fine - failure to pay within 6 months will result in termination

Failure to Renew SREC Registration on/before June 30

While it not guaranteed, the hearing decisions available to the public seem to send a warning the first year a Registrant registers late.

If they register late a second time:

Registrant received:

An order of reprimand

$3,000 fine - failure to pay within 6 months will result in termination

While there are no hearing decisions to date on registrants completing documents related to a trade in real estate, registrants should take note that there would be no Errors and Omissions insurance available through REIX.

Failing to Remove a "For Sale" Sign in a Timely Manner

Listing Expired December 18 - the sign was not removed

Relisted February 19

Listing Expired May 22 - sign was no removed until July 27

Registrant received:

An order of reprimand

$3,000 fine - failure to pay within 6 months will result in termination

Failure to Take Steps to Discover Facts Pertaining to the Property

Registrant failed to verify the listing status of the property before entering into a new listing agreement.

Registrant received:

An order of reprimand

$3,000 fine - failure to pay within 6 months will result in termination

Trading in Real Estate Outside of the Brokerage

Registrant represented a Landlord in a rent to own agreement.

• all rent payments were paid directly to the Registrant

• Registrant collected the cheques but did not deliver them to the brokerage

• The arrangement was made verbally and did not involve the brokerage

• Cheques were cashed and delivered to a friend of the Landlord

• Registrant compensation was not delivered to the brokerage

• 
  

Registrant received:

An order of reprimand

$3,000 fine for trading in real estate outside of the brokerage

$3,000 fine for failing to pay money received in connection with trade in real estate to her brokerage

Failure to pay within 6 months will result in termination