Tuesday, September 3, 2013
Real Estate Commission suspends Joe Faddoul
Prominent Halifax developer and realtor cannot work in real estate until investigation is complete.
Posted By Tim Bousquet on Tue, Sep 3, 2013 at 7:16 PM
Faddoul’s father-in-law is Besim Halef, president of Banc Developments, the company that developed the Bedford Common, much of Bayers Lake Industrial Park and several projects downtown. On his own, Faddoul has developed townhouses on the peninsula and is building four apartment buildings and 24 houses in Enfield.
The Enfield project was the excuse for the Chronicle-Herald to write a gushing profile of Faddoul last year. “I knew from the first year that I started real estate, I always said at some point I was going to go and get the broker’s licence and then see what happened,” Faddoul told the newspaper.
The Real Estate Commission won’t say if the suspension is related to the Enfield project. Faddoul’s Precision Real Estate also sells houses in the Midyat Court development in Eastern Passage and Skymark Homes in Fall River, and condos in the new St. Lawrence Place building in Fariview.
Faddoul was the president of the Canadian Lebanon Society of Halifax and was secretary for the Canadian Lebanese Chamber of Commerce and Industry, and is currently the vice chair of Our Lady of Lebanon Parish Council. He was also the past president of the Chain of Lakes Trail Association.
Brokerage suspensions are rare, says Peggy Kell, spokesperson for the Real Estate Commission. When the suspension came down last Thursday, all seven of the licenced realtors at Precision were prohibited from working in real estate. On Friday, Precision’s licence was transferred to Edward Vigneau, another broker, and the seven realtors were reinstated.
An investigation into the charges should take a few weeks, says Kell, after which the commission will either clear or sanction Faddoul. Kell won't give details of the nature of the complaint against Faddoul, other than that it relates to a violation of Commission Bylaw 610, which requires licencees to maintain proper records.
In the meanwhile, he is prohibited from trading in real estate, or from advertising himself as a trader. But as of 4pm Tuesday, Precision’s website still advertised Faddoul as a broker, and as the realtor for several houses. Kell says the commission told Faddoul via email Tuesday morning to removed those listings.
Faddoul has not returned a call and email for comment.
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