Fisher, William (Bill) | Principal Broker | Jacksonville, AR

03/01/2007 | Hearing No. 3033

In Formal Hearing # 3033 the Commission ordered “…if Respondent  Fisher still had a license at this time, these charges would be significant enough that the Respondent’s license would now be revoked.”

• The Commission found Respondent Fisher guilty of violating Commission Regulations 8.5(a), 9.2(b), 10.7(b)(3), 10.7(c), 10.8(b), and Arkansas Code Annotated § 17-42-311(a)(6).
• Respondent failed to protect and promote the interest of his clients, Complainants.  Respondent collected rent and security deposit on behalf of Complainants but failed to account for or remit said funds to Complainants.
• As set forth above, Respondent collected rent and security deposit for Complainants’ property, but failed within a reasonable time to account for or to remit said rent or security deposit to Complainants.
• Respondent commingled Complainants’ rent and security deposit collected with his personal funds.  Respondent collected rent and security deposit while managing Complainants’ property and used said funds for his own personal use.
• As set forth above, Respondent closed his real estate office without notifying the Arkansas Real Estate Commission in writing of the address and phone number of the place where the trust account and transaction records are being maintained.
• As set forth above, Respondent did not file a written answer to the complaint filed by the above referenced Complainants.
• Respondent Fisher failed to make the property management records and bank statements for Fisher Realty, Jacksonville , Arkansas available to the Arkansas Real Estate Commission for inspection.
• A Recovery Fund Hearing was held.  The Commission found that “…as a result of the proven violation, that Respondent Fisher is ordered to pay Complainants $655.00; and that the Respondent has thirty (30) days to make that payment.  If at such time the Respondent has failed to pay the Complainant, that the Recovery Fund pay Complainants the amount of 655.00.”