Hamilton, Cynthia E. | Executive Broker | Hope, AR

07/01/2006 | Hearing No. 3019

In Formal Hearing # 3019 the Commission ordered that “Respondent Hamilton is required to take six (6) hours education on agency law and rules, approved by the Executive Director, and that those hours are not to apply towards any continuing education requirements.  Once Respondent Hamilton has completed that class, she is to share her knowledge of agency rules and law with any licensees who are under her supervision.”

• The Commission found Respondent Hamilton guilty of violating Commission Regulation 8.5(a) and Arkansas Code Annotated § 17-42-311(a) (13).
• Respondent Hamilton did not protect and promote the interest of her client.  Even   though the referenced addendum prohibited occupancy by the Purchaser or any other person without written agreement, Respondent gave Complainant keys to the property   to store belongings without notifying the seller of that event.  After Respondent Hamilton gave Complainant a key to the property, Respondent did not investigate to confirm that no one was occupying the Seller’s property.  After learning that the buyers had taken possession of and were living in the subject property, Respondent failed to evict the buyers or to notify her client that the buyers had taken possession of the property contrary to the parties’ contract and allowed buyers to remain in possession without payment of rent or other consideration.
• Respondent Hamilton allowed the buyers to take possession of the property for the purported purpose of storing their personal belongings pending closing and did not explain to the buyers, that unless the Seller agreed to occupancy in writing, the Addendum referenced prohibited occupancy until after closing, that the Seller could declare the buyers in default of the Contract, and that the buyers could lose their earnest money and rights to improvements to the property.  Respondent’s conduct constitutes improper dealing.
• After the parties’ transaction failed to close on July 16 and the buyers refused to extend the closing date in order to buy other property, Respondent failed to notify her client of the buyer’s intent and the fact that the buyers were in possession of and living on the property.  Respondent Hamilton failed to promote and protect her client’s interest.
• A Recovery Fund Hearing was held pursuant to Arkansas Code Annotated § 17-42-401 et seq.  The Commission ordered Respondent Hamilton to pay Complainant $1,802.09 in damages within thirty (30) days of the date of the Order. (7/14/2006)