South Dakota Commission Revoked Broker License

The state regulator issued a five-year ban for a Sioux Falls broker who failed to disclose a prior felony conviction.

Updated on Sept. 23, 2026 in Residential

South Dakota Commission Revoked Broker License

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The South Dakota Real Estate Commission has revoked the broker associate license of Boulos Peter Almas for a period of five years. The decision follows a finding that Almas provided false information on his 2023 license application regarding a 2019 felony conviction.

Why it matters

Licensing requirements ensure that real estate professionals meet character and transparency standards, protecting residents who rely on brokers for major financial transactions. This enforcement action addresses the failure to report criminal history, which is a mandatory disclosure for industry licensing in the state.

The commission imposed a $2,500 fine alongside the five-year revocation of the broker associate license. This action follows the earlier revocation of the individual's insurance producer license on March 19, 2026.

The players

South Dakota Real Estate Commission

The state regulatory board responsible for overseeing professional standards and consumer protection for property transactions.

Boulos Peter Almas

A Sioux Falls resident and former broker associate whose licenses were revoked following a failure to disclose a criminal record.

South Dakota Division of Insurance

The state agency tasked with regulating insurance professionals, which previously revoked the insurance license of the subject.

The details

The commission held a hearing in Pierre on September 23, 2026, where the program director testified that Almas failed to disclose his 2019 guilty plea for second-degree burglary. After an eight-minute executive session, the commission voted unanimously to issue the penalty. Almas did not attend the hearing to contest the findings.

April 5, 2018: The burglary crime occurred.
2019: Almas pled guilty to second-degree burglary.
2023: Almas submitted his real estate license application.
March 19, 2026: The South Dakota Division of Insurance revoked his insurance license.
September 23, 2026: The commission held the hearing and revoked the license.

The Home Front

Professional licensing boards maintain strict standards for brokers to uphold public trust in the housing market. This case reinforces the mandatory nature of criminal history disclosures for anyone seeking to operate as a licensed real estate professional in the state.

If you are currently working with a broker, you can verify their standing and disciplinary history through the state's professional licensing portal. Always confirm that your representative maintains a valid license before signing any listing or purchase agreements.

The takeaway

Transparency remains a non-negotiable requirement for those handling high-stakes real estate transactions. Residents should routinely check the current status of any broker or agent on the official state license lookup tool before initiating a property search or sale.