Cotnam, Bob J. | Principal Broker | Hot Springs, AR

03/01/2007 | Hearing No. 3026

The Commission ordered that “…Respondent Bob J. Cotnam is to pay a fine of $250.00 and also complete a minimum of twelve (12) hours of buyer’s representation education, to be approved by the Executive Director, and it will not qualify as continuing education nor for the scholarship fund.  The time for completing these hours will be determined by the Executive Director.”

• The Commission found Respondent Cotnam guilty of violating Commission Regulation 8.5(a).
• Respondent Cotnam did not protect and promote the interest of his client Complainant.  Respondent knew Complainant was basing her offer price on the total square footage of the house and did not verify or living area of the property was 1,568 sq. ft, as represented in the MLS and other information received by Complainant and Respondent Cotnam, prior to Complainant’s purchase of the house.
• A  Recovery Fund Hearing was held.  The Commission denied Complainant’s claim.