Respondent(s):Sheri McBride, Salesperson (License Expired), Springdale, Arkansas, Consent Order #3418
Violation(s): A.C.A. §17-14-311(a)(2), §17-42-311(a)(4), and Commission Regulations 10.1(b), 10.5(a), 10.5(b), 10.7(a)(1), and 10.10(c).
Sanction(s): Respondent McBride’s license was hereby revoked. In the event Respondent applies for a Real Estate License in Arkansas or any other state; or, engages in unlicensed real estate activity, a fine shall be imposed upon Respondent in the amount of $5,000.00.
Respondent McBride was listed a registered agent of ABS Properties, LLC which was filed with the Arkansas Secretary of State’s office on or about March 15, 2002.
In December 2012, Respondent met with owner Complainant Black of property located at 51 Nantucket Drive, Bella Vista, Arkansas to discuss an arrangement whereby Respondent would assist owner Complainant Black in the sale of the subject property. Respondent did not have the permission of her Principal Broker of Beck Haus Realtors to assist the owner in the sale of the subject property.
On or about February 2, 2013, Respondent placed an advertisement for Complainant Black’s property on Craigslist.com. The advertisement included the telephone number for ABS Properties, LLC. The advertisement did not show the name of Mathias Properties, the real estate firm with which Respondent was licensed. The Respondent’s Principal Broker had not given permission to the Respondent to advertise the property.
On or about February 6, 2013, tenant Complainant Brandon responded to the Craigslist advertisement. On or about February 28, 2013, owner Complainant Black and tenant Complainant Brandon entered into a Residential Lease with Option to Purchase for the property at 51 Nantucket Drive, Bella Vista Arkansas. Respondent McBride prepared the contract and conducted all activities in this transaction without the permission of her Principal Broker of Mathias Properties. Respondent McBride is not a licensed attorney and was not acting as a licensed salesperson of Mathias Properties.
On or about February 28, 2013, tenant Complainant Brandon gave Respondent cashier’s check #0374735 made payable to ABS Properties, LLC in the amount of $3,749 for one month’s rent and $3,000 for the down payment of the lease to purchase agreement for the property. The cashier’s check was deposited into Respondent’s checking account for ABS Properties, LLC. Respondent did not deliver the payment to her Principal Broker.
On or about February 28, 2013, Respondent tendered check #1675 in the amount of $1,249 payable to owner Complainant Black, written on the checking account of ABS Properties, LLC for one month’s rent and $500 POA dues for 2013. On or about June 17, 2013, Respondent’s Principal Broker Helmer and Designated Broker Russell learned of Respondent’s transaction with owner Complainant Black and tenant Complainant Brandon. Upon request of Principal Broker Helmer, on or about June 19, 2013, Respondent emailed Designated Broker Russell a copy of check #1675 from ABS Properties, LLC to Complainant Black. The check which was emailed by Respondent had been altered to show the amount of $3,749.
On or about January 13, 2013, Owner Complainants Edgemon of 37 Queensferry Circle, Bella Vista, Arkansas entered into a Lease Agreement with the Option to Purchase Real Estate with Respondent of ABS Properties, LLC as the tenant and potential buyer of the Complainants’ property.On or about January 16, 2013, Linda Renee and Anna Cohen as tenants and potential buyers entered into a Lease Agreement with Option to Purchase Real Estate for 37 Queensferry Circle, Bella Vista, Arkansas with Respondent and ABS Properties, LLC as landlord and seller. Respondent had not obtained permission of her Principal Broker of Mathias Properties to engage in the real estate activities involving 37 Queensferry Circle, Bella Vista, Arkansas.
Posted on 01/11/2016
by Linda Alkire