To protect consumers and uphold the integrity of Alberta’s real estate industry, the Real Estate Council of Alberta (RECA) is advising the public about Yu Jun “Jacky” Chen and Goodwill Property Management Ltd.
RECA has issued an Administrative Penalty of $25,000 against Mr. Chen for engaging in unlicensed property management activities. RECA believes Mr. Chen represents an ongoing consumer risk due to a history of regulatory sanctions for conducting activities that require a licence under Alberta’s Real Estate Act.
In addition to the recent $25,000 administrative penalty, Mr. Chen has previously been sanctioned by RECA for unlicensed trading activities, including:
- $50,000 administrative penalty issued in March 2023
- $25,000 administrative penalty issued in July 2017
- $5,000 administrative penalty issued in June 2016
These penalties total $105,000 for unlicensed activities over a number of years.
Consumers should be aware that individuals and companies providing property management services in Alberta must be properly licensed unless a specific exemption applies. Working with unlicensed individuals may expose consumers to unnecessary risk and leave them without the protections associated with regulated real estate professionals.
RECA is encouraging anyone who has information regarding Yu Jun “Jacky” Chen or Goodwill Property Management Ltd. providing property management services in Alberta to contact RECA’s Investigations team at conductreview@reca.ca.
Consumers can verify whether an individual or company is licensed through RECA ProCheck, RECA’s online licence verification tool.
RECA remains committed to protecting consumers and taking action against individuals and businesses that engage in activities requiring a licence without the appropriate authorization.
For full details and the specific findings of fact, please refer to the Administrative Penalty.
For more information, please contact info@reca.ca.