FRAUD AWARENESS
Below is a an overview of the publicly available discipline history for Mustafa Zia, as documented by the Real Estate Council of Ontario (RECO). This summary highlights key points and offers practical advice for anyone selling a home in Ontario. For the official record and most accurate, up-to-date details, please visit registrantsearch.reco.on.ca.
Who is Mustafa Zia?
Legal Name: Mohammed Mustafa Zia
Registration Category: Broker
Registration Number: 4743344
Registration Status: REGISTERED
Registration Expiry: 2026/09/18
Brokerage Name: 2723864 ONTARIO INC.
Brokerage Trade Name: RE/MAX CENTRE MUSTAFA ZIA REALTY
Brokerage Address: 1140 Burnhamthorpe Road West Unit: 141D Mississauga, ON L4C 4E9
Email: mustafazia@gmail.com
Phone: 647-892-2474
Fax: 905-272-5088
Background: RECO Discipline History
Property Listing Circumstances:
•The Sellers owned a property that had been vacant for about seven years.
•Mr. Zia recommended a five-month exclusive listing agreement but did not adequately explain what “exclusive listing” meant, nor its potential limitations on marketing and exposure.
Conflict of Interest & Non-Disclosure:
•Mr. Zia presented an offer from a corporation labeled “Buyer A.”
•Crucially, Mr. Zia was both a director/officer and a shareholder of “Buyer A.”
•He failed to disclose this personal, significant financial stake to the Sellers before they accepted the offer.
Multiple Representation Issues
:
•Mr. Zia’s brokerage was representing both the Sellers and “Buyer A.”
•He never obtained written consent from the Sellers to act for both parties.
•The Sellers discovered Mr. Zia’s dual interest only after consulting their lawyer, leading them to cancel the transaction.
RECO Findings & Penalties
Following a Discipline Hearing under Ontario’s Real Estate and Business Brokers Act (REBBA 2002) Code of Ethics, RECO concluded that Mr. Zia:
• Breached multiple sections of the Code of Ethics, including failing to act in the Sellers’ best interests, not disclosing his conflict of interest, and not obtaining consent for multiple representation.
• Was fined $20,000.
• Was ordered to complete the “MCE Compliance and Ethics in Real Estate, Parts 1 and 2” courses.
Discipline Decision Highlights
• Violation of Sections 4, 5, 17, 38, 39, and 2(1) in respect of Section 16 under the REBBA 2002 Code of Ethics.
• Fine payable on or before June 30, 2022.
• Course completion deadline by May 15, 2022 (successfully completed).
To read the full Discipline Decision and Reasons for Decision, refer to the “Conditions and Discipline History” section on registrantsearch.reco.on.ca.
How to Verify the Record
To confirm the above details and any ongoing conditions:
1. Visit registrantsearch.reco.on.ca.2. Select “Salesperson/Broker” if prompted.
3. Type: “Mohammed Zia” in the name fields.
4. Search: When you see his name, click it for details, including discipline history and any applicable conditions.
Tips for Ontario Home Sellers
When selling your home, it’s important to protect your interests. Keep these key points in mind:
1. Ask About Exclusive Listings Ensure you fully understand how an exclusive listing could limit your home’s exposure to potential buyers.
2. Demand Full Disclosure Always ask if your agent or brokerage has any financial stake in the buyer. Get this in writing.
3. Consent to Multiple Representation If an agent or brokerage wants to represent both you and the buyer, they must have your written permission upfront.
4. Seek Early Legal Advice If something feels off at any point, contact a lawyer immediately to protect your rights and interests.
This situation underscores the importance of transparency and ethical practices in real estate transactions. Sellers (and buyers) should always be aware of:
• The potential conflicts of interest when a realtor has a stake in the purchasing entity.
• The necessity for clear, written disclosure if an agent is representing both sides.
• The option to terminate agreements if new, critical information about conflicts or non-disclosure surfaces.
This summary is provided for informational purposes only and is not legal advice. Always refer to the official RECO record for the most accurate and up-to-date information. If you have specific concerns about your own real estate transaction, consult a qualified real estate lawyer or appropriate regulatory authority as soon as possible.