The Real Estate Council of Alberta (RECA) Hearing Panel recently suspended the real estate licence of Edmonton sales rep Terry William Paranych. The licence was suspended for three months. Paranych was also ordered to pay fines and costs totaling $96,000 and ordered to complete the Fundamentals of Real Estate course and all related examinations.

The proceedings against Paranych date back to 2012 and relate to some of his advertising.

The panel found that 14 times, Paranych “made representations or carried on conduct that was reckless or intentional and that misled or deceived any person or was likely to do so.”

He “engaged in conduct that undermines public confidence in the industry, harms the integrity of the industry, or brings the industry into disrepute” six times, and “did not ensure that in any communication, advertising or marketing material there was no suggestion, implication or statement that may suggest or lead the public to believe an unlicensed or unregistered assistant is qualified to trade in real estate, deal in mortgages or perform real estate appraisals, as the case may be.”

He also “directly or indirectly advertised, communicated or offered an incentive that was not provided by and on behalf of the brokerage with which he is registered (three times).

Paranych, a well-known top producer, was previously registered as a real estate associate with Elite Ownership Group, operating as Re/Max Elite, and most recently registered with Excellence Real Estate Edmonton, operating as Re/Max Excellence in Edmonton, says RECA in a news release.

The Hearing Panel order can be viewed here.


  1. Kudos to REM for publishing this story in the face of potential advertorial backlash. Having been made aware of this story REM could have left it buried. It takes courage to do the right thing. This revelation also serves the purpose of enlightening Realtors (pre action by regulators)about the pitfalls of making iffy claims (puffery) about themselves…if they read REM.
    Hani Faraj has publicly cast a negative shadow over the real estate sales culture via his endorsement of Terry Paranych’s former ill-advised behaviours. He has done himself no good by doing so.</p.
    Full disclosure: When I again became licensed as a real estate sales representative during 2008 (after having been away from the business for decades) I produced a large city bus ad with my picture (a then recent one, not a twenty-year-old picture) with the caption "Forty Years Industry Experience" or "Forty Years Industry Related Experience" (I can't remember which). To my mind, this was a true claim; I had chosen my words carefully…I thought. I had worked as an assistant new home builder within my father's business starting at age fourteen. I had worked as a licensed tradesman (starting at age eighteen; I was a grade eleven drop-out). I had worked as a Realtor. I had worked as a conciliator/inspector with the Ontario New Home Warranty program. I had worked as a real estate appraiser. All of those years in residential real estate-related service totaled forty years in the trenches. I ran the wording of my bus ad past our broker-of-record and received a "Give it a try" response, and so I did. Not long afterward I received a call from RECO advising that a complaint had been received from another Realtor, and that I was requested to remove the ad and/or change the wording. I asked "Why?" "Because, the ad is deceptive." was the reply. I protested and stated that I was telling the truth. No matter; the ad was deemed to create a deception (which was not my intent). I hung up a thought about what had been said to me. After awhile (after having gotten over the "they are harassing me" thoughts swirling about my head) I realized that in the minds of those who did not know me, a message might be received different than what I had intended. I reworded the ad to read "House For Sale? Call Martindale!". The ad worked. I plastered it across the sides of my '55 Chevy and left it parked in Walmart/Canadian Tire/Home Depot parking lots. This was the only advertising that I put out there. I spent most of my time (when not physically showing property and working transactions) manning a Kiosk in a mall, from whence I garnered most of my clients. I made a good living. I was satisfied. I was not greedy. I had a life outside of real estate. I slept well at night. I did not regard our regulator as an enemy; their call to me was a wake-up call. I tried my best to be a professional, but, I did not have to try very hard…because I believed (still do) that I was a professional by nature. Money was not my prime motivator. Being a good, honest, knowledgeable, altruistic Realtor was my prime motivator. I knew that the money would follow, and it did.
    I do not think that Terry Paranych was a professional by nature up until the Hearing decision was rendered. Hopefully he has sincerely had second thoughts about his attitude post Hearing as did I post telephone call from RECO. As for you Hani, RECA now has you on its radar screen. Better change your attitude my friend.

  2. I’m sorry but terry is a good real estate agent. This article doesn’t say anything about hurting anyone or stealing from anyone but the truth is, when you’re on top, people want to bring you down. I had websites that we’re missing small stuff, and my local board brought them to my attention to fix. Imagine if my name was all over the palace and was making bold statements.

    • Hani:
      I am sorry, but Terry was ‘not’ a good real estate agent. He was a misrepresentative, deceptive, lying real estate agent as displayed via many of his advertisements (as decided by his regulatory body). Maybe you did not read the Hearing Panel Order as provided at the end of the lead article. The case is clear. Allow me to reveal just a few examples of Terry’s wanton disregard for and downright disdain for rules and regulations (not to mention the truth) which he signed on to uphold when he received his license.
      Following are just a very few telling quotes of a multitude of same from the record of the Hearing:
      “Mr. Paranych has a lengthy disciplinary history which is set out below.”
      “Mr. Paranych is unwilling to accept personal responsibility for breaching Rules and attempts to cast blame on the individuals with whom he contracts. This favours a graver sanction.”
      “Mr. Paranych took the disciplinary proceedings to a public level. In particular, he is quoted in the Alberta Venture article on October 5, 2015 as saying “(t)hey’re just trying to ruin the industry” and “(t)hey’re trying to govern it too much. I don’t believe in any of that bullshit.”
      Mr. Paranych has committed similar types of conduct deserving sanction over many years. It is clear that past fines are not sufficient to deter him. He has stated: “Look, I made $1.5 million a year, do you think that I (care) about $4,000. It’s nothing. I made that today already.”
      “Mr. Paranych views himself, and projects an image to others, that he is a leader in the real estate community to whom people should look up. As such, this factor favours graver sanctions.”
      Read the transcript yourself; you might develop a different opinion about Terry’s former behavior.
      Terry’s website advertising was not merely missing “small stuff”; it was replete with deceptions and flat out lies, for which he was proud, of which he knew via previous warnings and fines that much of it was untruthful in nature Terry acquired numerous clients through advertisement misrepresentations designed to manipulate readers’ actions in his favour. He described these actionable advertisements as “mere puffery”, as if “puffery” was no big deal. Isn’t that what all sales people engage in…Terry insinuated. And we wonder why the public distrusts Realtors?
      Finally, at the end of the Hearing Mr. Paranych said: “…that the Hearing Panel decision was sobering and he now realizes the seriousness of his conduct.”
      Moral? High flyers are not automatically professionals by nature.
      I don’t know if you know Terry or if you worked with him or if Terry asked you to comment on his behalf, but whatever your motive, you should have remembered an old saying “It is better to let sleeping dogs lie.” You should have let this dog lie.

  3. He wanted his name to be known far and wide; now it is. With all that he was found to be guilty of, why is he to be allowed back into the fold at all? Will he be the first leopard to change its spots?

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