RECA releases information to the media and the public when we have announcements, issue a consumer alert, suspend a licensee, or when licensees take a lifetime withdrawal. Media should contact communications@reca.ca for more information.
RECA’s consumer protection mandate means RECA must use every means at its disposal to communicate important information to consumers. Browse the current year’s news releases below or select a previous year from the archives menu:
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The Real Estate Council of Alberta, the body tasked with licensing and regulating real estate industry professionals in Alberta, is advising the public that Justin James Fraser is permanently prohibited from dealing in real estate, effective December 20, 2024.
A Hearing Panel permanently cancelled the real estate licence of Fraser under s.43(1) (a) of the Real Estate Act. The appeal period for this decision has passed and the written decision is now available.
The vast majority of RECA licensees adhere to high standards of professionalism and integrity. However, Fraser’s conduct breached these standards, resulting in a lifetime ban to ensure public protection and maintain trust in the real estate industry.
Based on evidence presented during the conduct hearing, the Hearing Panel found Fraser broke Real Estate Act Rules s.42(f) on four occasions. Real Estate Act Rules s. 42(f) states:
In its decision, the Hearing Panel also banned Fraser from ever obtaining any other RECA licence. Prior to this lifetime cancellation, RECA had suspended Fraser’s real estate licence since October 5, 2021, pending the outcome of the hearing.
RECA licences and regulates individuals in the residential and commercial real estate, mortgage, property management and condominium management industries in Alberta. RECA publishes licence cancellations to protect consumers, uphold professional industry standards, ensure transparency and provide education to licensees and the public on the Real Estate Act standards of practice.
RECA’s Find a Licensee tool allows anyone to search for a licensee (real estate, mortgage, property management and condominium management) to confirm they are licensed and in good standing.
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As part of the Real Estate Council of Alberta’s (RECA) mandate to protect consumers and uphold professional standards, we’re advising the real estate industry and public that Michael Cordell Banks’ (Banks) real estate associate licence is currently suspended. As of January 31, 2025, Banks cannot trade in real estate for one month, until February 28, 2025.
On January 17, 2025, a Hearing Panel suspended Bank’s licence and fined him $21,000 for breaking three counts of the Real Estate Act and the Rules.
Banks was found by the Panel to have:
The full Hearing Panel Decision, is available here.
Enforcement of the responsibilities set out under the Real Estate Act and the Rules is something RECA takes seriously. This decision reflects our commitment to protect consumers and the integrity of Alberta’s self-regulated real estate industry.
If you are a consumer or licensee with deals in progress with Banks or have any questions about this licence suspension, please contact info@reca.ca or (403) 228-2954 (option 4).
RECA publishes suspensions to protect consumers, uphold professional industry standards, ensure transparency and provide education to licensees and the public on the Real Estate Act standards of practice.
RECA’s Find a Licensee tool allows anyone to search for a licensee (real estate, mortgage, property management and condominium management) to confirm they are licensed and in good standing.
Share this story: https://www.reca.ca/about-reca/publication-resources/news-releases/news-releases-2025/banks-licence-suspended/
