Effective June 15, 2018 all real estate agents (licensees) must make disclosures about the intent of providing services to consumers earlier than had previously been the norm in the industry. The Disclosure of Representation in Trading Services and the Disclosure of Risks to Unrepresented Parties detail the changes to the practices that licensees follow with clients.
|These forms will:
These new forms allow licensees to disclose the type of representation they will be offering a consumer and whether they are able to treat them as a client or as an unrepresented party.
I will be will be happy to review these new changes and forms with you at any time during your meeting.
|To ensure that all of our consumers are well-informed and well-protected requires us to do more than just make sure that the right forms are signed. We will also make sure we:
The British Columbia Real Estate Association’s Working with a REALTOR® brochure will no longer be used by licensees; effective June 15, 2018, licensees will use the “Disclosure of Representation in Trading Services” to disclose the type of representation they can offer a consumer.
This new mandatory form outlines the difference between being represented and unrepresented, and which of those two options is being offered to you by the licensee who is providing you with the form.
For consumers who choose to conduct a real estate transaction without a real estate professional, licensees will provide you with the mandatory Council-approved “Disclosure of Risks to Unrepresented Parties” form for this disclosure.
This form confirms that the licensee providing you the form will not represent you in the transaction for a variety of reasons, such as the licensee already acting on behalf of another client in the transaction.
While it is ultimately up to each consumer to decide whether they want to be represented by a licensee, the Real Estate Council urges all unrepresented parties to seek the advice of a professional during any real estate transaction.
Thank you and I hope to meet with you soon!