(a) The Commission may impose a monetary penalty or revoke or suspend the license of any person issued under this chapter who, after due notice and hearing by the Commission, is found to have committed any offense in subsection (b) or in any regulations adopted thereunder.
(b) The Commission may, upon its own motion, or upon the verified complaint in writing of any person, investigate the actions of any person engaged in the business or acting in the capacity of real estate broker or sales associate within this Territory, and hold a hearing for the suspension or revocation of a license. The Commission may revoke or suspend a license where it has been obtained by fraud or false representation, or where the licensee, in performing or attempting to perform any of the acts within the scope of this chapter, is found to have committed any of the following acts—(1) pursuing a continued and flagrant course of misrepresentation, or making false promises through staff or other licensees, or any medium of advertising, or otherwise, or(2) misleading or untruthful advertising, or using the trade name or insignia of member in any real estate organization of which the licensee is not a member, or(3) failing within a reasonable time to account for or remit any moneys coming into his possession which belong to others, commingling funds of others with his own, or failing to comply with any of the fiduciary duties requirements in section 427c, or(4) being convicted in a court of competent jurisdiction of this Territory or any state, or federal court, of forgery, embezzlement, obtaining money under false pretenses, bribery, larceny, extortion, conspiracy to defraud, sexual crimes, drug distribution, arson, physical violence, or any similar offense or offenses. For the purposes of this paragraph, being convicted includes all instances in which a plea of guilty or nolo contendere is the basis for the conviction and all proceedings in which the sentence has been deferred or suspended, or(5) failing to furnish a copy of any written instrument to any party executing the same at the time thereof, or(6) any conduct in a real estate transaction which demonstrates bad faith, dishonesty, untrustworthiness or incompetency, or(7) failure to disclose to an owner his intention or true position where he directly or indirectly purchases for himself, or acquires or intends to acquire any interest in, or options to purchase property which he or his associates have been employed to sell, or(8) failing to make known for which party he is acting, or receiving compensation from more than one party, except with the full knowledge of all parties, or(9) dividing a commission or any other valuable consideration with any person who is not authorized to engage in the real estate business, or(10) failing to provide an agency disclosure to the buyer or seller, or both in the case of dual agency. The writing must be made before or at the time of entering into a listing agreement or an agreement for representation or before showing of property, whichever occurs first, or(11) knowingly committing, or being a party to any material fraud, misrepresentation, concealment, conspiracy, collusion, trick, scheme, or device, whereby any other person relies upon the word, representation or conduct of the licensee, or(12) discriminating against any person in hiring or in sales activity based on race, color, religion, sex, disability, gender identity, or national origin, or violating any of the provisions of any state or federal anti-discrimination law. A certified copy of the final holding of any court of competent jurisdiction in such matter, or a certified copy of the order issued by any state or federal administrative agency having jurisdiction in such matter, is conclusive evidence in any hearing conducted under this chapter, or(13) failing to exercise reasonable supervision over the activities of licensees and any unlicensed staff, or(14) failing to inform the Commission in writing within 30 days of a conviction as described in paragraph (4).
(1) pursuing a continued and flagrant course of misrepresentation, or making false promises through staff or other licensees, or any medium of advertising, or otherwise, or
(2) misleading or untruthful advertising, or using the trade name or insignia of member in any real estate organization of which the licensee is not a member, or
(3) failing within a reasonable time to account for or remit any moneys coming into his possession which belong to others, commingling funds of others with his own, or failing to comply with any of the fiduciary duties requirements in section 427c, or
(4) being convicted in a court of competent jurisdiction of this Territory or any state, or federal court, of forgery, embezzlement, obtaining money under false pretenses, bribery, larceny, extortion, conspiracy to defraud, sexual crimes, drug distribution, arson, physical violence, or any similar offense or offenses. For the purposes of this paragraph, being convicted includes all instances in which a plea of guilty or nolo contendere is the basis for the conviction and all proceedings in which the sentence has been deferred or suspended, or
(5) failing to furnish a copy of any written instrument to any party executing the same at the time thereof, or
(6) any conduct in a real estate transaction which demonstrates bad faith, dishonesty, untrustworthiness or incompetency, or
(7) failure to disclose to an owner his intention or true position where he directly or indirectly purchases for himself, or acquires or intends to acquire any interest in, or options to purchase property which he or his associates have been employed to sell, or
(8) failing to make known for which party he is acting, or receiving compensation from more than one party, except with the full knowledge of all parties, or
(9) dividing a commission or any other valuable consideration with any person who is not authorized to engage in the real estate business, or
(10) failing to provide an agency disclosure to the buyer or seller, or both in the case of dual agency. The writing must be made before or at the time of entering into a listing agreement or an agreement for representation or before showing of property, whichever occurs first, or
(11) knowingly committing, or being a party to any material fraud, misrepresentation, concealment, conspiracy, collusion, trick, scheme, or device, whereby any other person relies upon the word, representation or conduct of the licensee, or
(12) discriminating against any person in hiring or in sales activity based on race, color, religion, sex, disability, gender identity, or national origin, or violating any of the provisions of any state or federal anti-discrimination law. A certified copy of the final holding of any court of competent jurisdiction in such matter, or a certified copy of the order issued by any state or federal administrative agency having jurisdiction in such matter, is conclusive evidence in any hearing conducted under this chapter, or
(13) failing to exercise reasonable supervision over the activities of licensees and any unlicensed staff, or
(14) failing to inform the Commission in writing within 30 days of a conviction as described in paragraph (4).
(c) If the licensee does not agree with the penalty imposed, the licensee may appeal the penalty pursuant to the appeals process in 3 V.I.C. § 272(f).