In June of 2018 a new set of disclosure rules approved by the Superintendent of Real Estate came into effect.
These rules protect real estate consumers by:
A) Providing a package of information outlining the duties and obligations required of Realtors:
1 Disclosure of representation in trading services.
YouTube Link to the information Video for Disclosure of Representation in Trading Services.
Link to a PDF of the form Disclosure of Representation in Trading Services.
2 Disclosure the risks of dual agency
YouTube Link to the information Video for Disclosure of the Risks of Dual Agency .
Link to a PDF of the form for Disclosure of the Risks of Dual Agency.
3 Disclosure of risks to unrepresented parties.
YouTube Link to the information Video for Disclosure Risks to Unrepresented Parties.
Link to a PDF of the form for Disclosure of Risks to Unrepresented Parties.
4 Agreement of conflict of interest between clients.
YouTube Link to the information Video for Agreement of Conflict of Interest between Clients.
Link to a PDF of the form for Agreement of Conflict of Interest Between Clients.
5 Disclosure of expected remuneration.
YouTube Link to the information Video for Disclosure of Expected Remuneration.
Link to a PDF of the form for Disclosure of Expected Remuneration.
B) Reinforcing a real estate agents duties and obligations to their clients by:
1 Providing greater penalty’s when real estate agents fail to provide undivided loyalty to serve in their client’s best interests.
2 Changing the wording in the standard contracts to better reflect the new rules.
3 Providing information about the collection, use and disclosure of your personal information.
C) Removing, Dual Agency where one Real Estate Agent represents two parties with competing interests (Buyer and Seller, or two buyers for the same property) has been banned in BC in almost all cases
Real Estate and Mortgages
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Port Coquitlam, Maple Ridge, Coquitlam, Surrey, Tri Cities, Port Moody, Pitt Meadows, White Rock.
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