South Dakota Real Estate Agent License Revoked
A broker associate has lost his license for five years after failing to disclose a past felony conviction.
Updated on Sept. 23, 2026 in Residential
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The South Dakota Real Estate Commission has unanimously voted to revoke the license of Boulos Peter Almas. The decision follows his failure to disclose a 2019 felony guilty plea for second-degree burglary on his 2023 license application.
Why it matters
Licensing boards maintain professional standards to protect consumers, and hiding criminal history constitutes a material breach of the application process. This action ensures that those handling significant real estate transactions meet state transparency requirements.
The commission imposed a $2,500 fine and a five-year revocation of the broker associate license. This follows the March 19, 2026, revocation of the individual's insurance producer license by the state division of insurance.
The players
Boulos Peter Almas
A former real estate broker associate and insurance producer based in Sioux Falls.
South Dakota Real Estate Commission
A state entity responsible for overseeing professional conduct and licensing standards for residential brokers.
South Dakota Division of Insurance
A state regulatory agency that oversees consumer protections and licensing for insurance producers.
The details
During a hearing in Pierre, the commission reviewed testimony regarding the 2023 application where Almas failed to declare his 2019 felony conviction. After an eight-minute executive session, the commission determined that the omission was a violation of professional licensing rules. In addition to the five-year ban, the former agent must cover the costs of the legal proceedings.
Timeline
April 5, 2018: The burglary crime occurred.
2019: Almas pled guilty to second-degree burglary.
2023: Almas applied for a real estate license.
March 19, 2026: The Division of Insurance revoked his insurance license.
September 23, 2026: The commission held the hearing and revoked the license.
Money Landscape
Professional licensing boards across the country consistently enforce background disclosure requirements to protect the public during high-value financial transactions. This case follows the established precedent of the South Dakota Real Estate Commission licensing standards.
Consumers engaging in property transactions should verify that their representative maintains a valid, clean license with the state board. You can consult a qualified real estate attorney if you have concerns about the status or background of a professional handling your assets.
The takeaway
Maintaining professional licensure requires full transparency regarding past legal actions on all state applications. Residents should verify their agent's credentials through the official state commission portal before committing to any major real estate transaction.
Further reading
For more on professional oversight, see the Residential section.
Source note: This article includes information reported by KELO-LAND TV.
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