THE Real Estate Council of British Columbia has suspended the real estate licences of Kevindeep (Kevin) Singh Bratch and Bratch Realty Ltd., pending completion of its investigation into Bratch’s and Bratch Realty’s conduct. Effective immediately, Bratch and Bratch Realty are prohibited from providing real estate services to, or on behalf of, any member of the public.
The Council announced on Tuesday that it has suspended the licences in the public interest while it further investigates whether Bratch was engaged in aggressive marketing and sales practices targeting vulnerable persons who were financially distressed as a result of their homes being in foreclosure proceedings. The Council is also investigating whether these were “predatory” schemes for personal gain and profit at the expense of those who were in distress.
According to the written reasons for the order:
“The gist of the allegations here is that Mr. Bratch targeted vulnerable home-owners, namely, people experiencing financial distress, whose homes were subject to foreclosure proceedings, and who were not represented or advised by another licensee or by legal counsel. Mr. Bratch bought their homes at an under-value, on the basis that they could continue renting their homes, and opt to rebuy their homes. But the terms were highly disadvantageous, to the point of the “rent to buy” program being “predatory” in nature.”
The licence suspensions remain in effect until further notice.
Concerned clients of Bratch or Bratch Realty should contact the Real Estate Council of BC at 604-683-9664, toll-free at 1-877-683-9664, or by email at [email protected]