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:

• traded in commercial real estate without holding a commercial real estate licence, contrary to s.17 of the Real Estate Act.
• violated the Education Code of Conduct for Learners, by falsifying information, therefore not acting with honestly, integrity and respectfulness, in violation of s.41 of the Rules.
• carried on behaviour that was reckless or intentional and that could mislead or deceive a person, in violation of s.42(a) of the Rules, by misleading potential clients and a third party exam provider into thinking various actions had been taken that were untrue.

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.

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