Respondent(s): Justin Colt Rogers, Salesperson, Re/Max Executives Real Estate, Fort Smith, Arkansas, Formal Hearing # 3504
Violation(s): Arkansas Code Annotated § 17-42-311(a)(2), § 17-42-311(6), § 17-42-311(a)(7), § 17-42-311(a)(11) and Commission Regulations 8.5(a), 10.1(b), and 10.7(a)(1).
Sanction(s): The Commission votes unanimously that Respondent Justin Colt Rogers’ real estate license be revoked.
On or about March 25, 2015, Respondent Rogers entered in to an Exclusive Right-To-Sell/Lease Agreement (Commercial) with Owner Stephen Lewis of Professional Assurances, Inc. for the listing for lease of property located at 1007 W Center St, Greenwood, Arkansas. The agreement began March 24, 2015, and expired July 24, 2015. There was no written property management contract with Owner Lewis.
On or about November 22, 2016, Respondent Rogers accepted check # 2325 made out to Colt Rogers from Tenant Luck E Strike in the amount of $17,000.00 for "Rent for August thru December 2016."
On or about November 28, 2016, Respondent Rogers deposited check #2325 in the amount of $17,000.00, into his personal bank accounts with Farmers Bank in Greenwood, Arkansas. Respondent deposited $14,000 into one account and $3,000 into a second account.
On or about January 12, 2017, Respondent Rogers had his bank transfer $17,000.00 to Professional Assurances, Inc., owned by Stephen Lewis. On or about January 13, 2017, Respondent Rogers received a wire transfer in the amount of $8,690.00 from Professional Assurances, Inc. for work he performed at the subject property for future marketing purposes while licensed with Re/Max Executive Real Estate in Fort Smith, Arkansas. Respondent Rogers’ Principal Broker was not aware he was receiving compensation from the owner of the property. Respondent Rogers did not maintain account balances totaling or exceeding $17,000 from the time he received and deposited the funds until the time the funds were disbursed.
Posted on 09/11/2017
by Linda Alkire