RECA Rules: Edmonton Realtor Fined $21K and Suspended for Misconduct

Mike Banks (Source: Facebook)

An Edmonton Realtor has been hit with a one-month license suspension and fined $21,000 after being found guilty of misconduct by the Real Estate Council of Alberta (RECA).

According to the decision dated Jan. 17, Micheal “Mike” Cordell Banks engaged in unauthorized commercial transactions and misled both a client and an exam provider in an attempt to fast-track his licensing process.

Unauthorized transactions

Between late November and December 2021, Banks assisted a potential client in searching for commercial properties, despite not being licensed to do so. He sent property listings, reviewed financial details and requested a letter of intent from a mortgage broker to facilitate a showing—all without the necessary credentials.

At no point did Banks inform the client that he was not legally authorized to handle commercial real estate transactions. Instead, he misrepresented his role, claiming he was actively setting up showings when he was not.

Exam-day deception

On Dec. 8, 2021, Banks attempted to take his commercial real estate exam at the Northern Alberta Institute of Technology (NAIT). However, he was turned away due to the school’s strict COVID-19 vaccination policy.

Despite being informed in advance that all exam candidates had to be fully vaccinated, he first attempted to gain entry by presenting a negative test result, which was not an accepted alternative. After being denied access, he returned with an outdated proof of vaccination that appeared to have been altered. When that too was rejected, he produced a QR code, but a scan revealed that it did not match his name.

When confronted about the discrepancy, he admitted, “Ok, I’m not vaccinated, I just really need to write the exam.” NAIT officials denied him entry a second time.

Bribery attempt and misleading statements

After being refused access to the exam, Banks attempted to bribe the NAIT employee. He offered $1,000 to be let in and then escalated his offer to “a year of her salary.” He directly told the NAIT staff that he had a “big deal pending” and needed to write the exam. The coordinator refused, and Banks was asked to leave the premises.

Still determined to avoid rebooking the exam, Banks contacted the third-party exam provider, falsely claiming that he had been inside the testing centre but had been unable to load the exam. He insisted that the issue was unrelated to COVID-19 policies.

When informed that he had been marked as a no-show and would need to repurchase the exam, Banks became verbally aggressive. Frustrated with the process, he told the customer service representative, “You guys are useless, absolutely useless.” In a later call, when again told he would have to pay to reschedule, he responded angrily, saying, “It’s not that hard, just f***ing reschedule it.”

Banks ultimately received his commercial real estate licence on Mar. 14, 2022.

The RECA ruling

The hearing panel determined that Banks had violated multiple sections of the Real Estate Act and RECA’s Education Code of Conduct. He was fined $12,500 for unauthorized real estate transactions, $3,500 for violating the Education Code of Conduct, and $5,000 for misleading Bank’s real estate license is suspended for one month, beginning Jan. 31 to Feb. 28.

While Banks had no prior disciplinary history, the panel noted that his repeated dishonesty, bribery attempts, and aggressive behaviour were serious offences.

In an interview with RECA on Jun. 16, 2022, Banks admitted to misleading his client about commercial property showings and financial details to buy time until he obtained his commercial license. He also acknowledged lying to the third-party exam provider in an attempt to avoid paying for another exam.