THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Tuesday, April 9, 1996 TAG: 9604090330
SECTION: LOCAL PAGE: B4 EDITION: NORTH CAROLINA
DATELINE: REALTY FIRM, BROKER DISCIPLINED LENGTH: Short : 32 lines
Oyster Bay Realty & Construction, Inc. and its principal broker, James M. Geraghty, have been disciplined by the North Carolina Real Estate Commission for operating without the proper licenses.
Their broker's licenses were suspended for six months, but that action was then stayed by the commission.
According to Blackwell M. Brogden Jr., the commission's chief deputy legal counsel in Richmond, Oyster Bay and Geraghty must not violate any real estate licensing laws during the six-month probation period that began March 1.
``This is more than a reprimand or a slap on the hand,'' Brogden said Monday from his Raleigh office. ``It's not a good idea to commence business without the proper license. It's just not fair to the people doing it right.''
The complaint was filed by Garland H. Dunstan Jr., whom Brogden said was Geraghty's former employer.
In the Feb. 26 settlement, finalized April 8, the state panel found that Geraghty and Oyster Bay engaged in real estate sales and contracting before acquiring the appropriate licenses. Additionally, the commission determined that both were liable for breaking the law by advertising specifically for an unlicensed person to sell real estate. by CNB