Dacus, Richard L. | Salesperson | Fayetteville, AR

02/01/2004 | Hearing No. 2084

In Formal Hearing #2084 the Commissioners voted unanimously “…that Richard L. Dacus’ real estate license be revoked immediately, and that he be fined $2,000.00, payable to the Arkansas Real Estate Commission, within 60 days from the date of this Order (11/1/04).”

• The Commission found Mr. Dacus guilty of violating Arkansas Code Annotated §17-42-311 (a)(7) and Commission Regulations 8.5 (a) and 10.1 (b).
• Mr. Dacus engaged in real estate activities independently without permission from Principal Brokers Lindsey and Wilkins. He listed Complainant’s business on 2/7/03 but did not advise Principal Broker Lindsey, his broker at the time of the listing, that he had listed the property nor did he advise Principal Broker Wilkins of the listing when he transferred to Global Network Realty on March 14, 2003.
• He did not protect and promote the interest of the Complainants. He did not disclose to Complainants when listing their business that the listing would not be with Lindsey & Associates but with Global Network Realty and would not be entered in the MLS or Lindsey & Associates inventory of listings.
• Mr. Dacus committed deceit in making representations to a seller of a business and had judgment rendered against him based upon said deceit as set forth above.