Has anybody heard about it? Or has a link to the story? I tried to find on the Net, but to no avail. All I heard is that 75 realtors in Calgary have to be investigated for driving the prices up artificially.

Hi there, bet you didn't expect any sort of response after all this time

I was in my realtors office this afternoon waiting for hubby to turn up. I don't know why this popped into may head but I asked him about this and he said indeed there was a BIG BIG scam involving around 75 realtors and concerning arounf 77 million dollars. I did have a good look around but couldn;t find anything online.... but it really did happen. If he tells me any more, I'll let you know.

Thanks, I was very curious (and still am). My realtor made quite a few major mistakes with selling our house, not quite a scam though. I'm sure I could have complained, but I didn't want to jeopardise the house sale, plus life is too short for all that. I asked her about the scam issue, and she just told me that realtors are routinely investigated, and those realtors in question just preferred to hand in their licence than to be investigated, that's all. Seems a little strange to me, and makes me even more curious...

I would imagine that realtors aren't 'routinely investigated' apart from the odd audit and it does go to show that the nonsense they make them go through to get registered doesn't actually help at all. One of the things they need to supply is an RCMP print with fingerprints in order to get registered. your realtor has definately got something amiss. The other comment mine made was what's the point in sueing someone (or 75 someones) when all the money's gone? I would think they've handed in their licences in order to avoid prosecution.
I'm in the process of investigating realtor training so I may learn more...watch this space

Interesting. We need some more pizazz in this story, like police chases, money laundering, etc. I just find it really weird that there wasn't much press and news reports on this, therefore it's open to speculation.

Wrong country for pizazz....we look to the USA for that!

Handing in their licences would in no way help them avoid prosecution.

By the way, just what did they do?

Its funny but neither of us can find out anything regards details on this even after raking through the internet for hours. Realtor board must have tried to keep it quiet somehow.

I would assume that the profit is in undervaluing a house, having your best buddy to buy it then resell it for a profit.
My realtors last comment was that if there's no money left, what's the point of sueing someone, but sueing someone and being prosecuted are two different things.

If you find anything....do post, please