Your Relationship with a Real Estate Professional. Real estate professionals have a regulatory requirement to present you with this consumer information before providing services to you.
PAGE 2 OF 2 Your Relationship with a Real Estate Professional DISCLOSURE OF REPRESENTATION IN TRADING SERVICES This is a required disclosure form in compliance with sections 54 of the Real Estate Services Rules .
Your Relationship with a Real Estate Professional Real estate professionals have a regulatory requirement to present you with this consumer information before providing services to you. BC Financial Services Authority is the legislated regulatory agency that works to ensure real estate professionals have the skills and knowledge to provide you with a high standard of service. All real estate professionals must follow rules that help protect consumers, like you. We're here to help you understand your rights as a real estate consumer. Keep this information page for your reference. This information explains the different relationships you can have with a real estate professional to buy, sell or lease property. Before you disclose confidential information to a real estate professional regarding a real estate transaction, you should understand what type of business relationship you have with that individual. You can work with a real estate professional in one of the following ways: AS A CLIENT If you are the client of a real estate professional, they work on your behalf. The real estate professional representing you has special legal duties to you, including: · Loyalty. They will act only in your best interests. · Full disclosure. They must tell you everything they know that might influence your decision in a transaction. · Avoid conflicts of interest. They must avoid any situation that would affect their duty to act in your best interests. · Confidentiality. They must not reveal your private information without your permission, even after your relationship ends. That includes: · your reasons for buying, selling or leasing · your minimum/maximum price · any preferred terms and conditions you may want to include in a contract When you become a client, you may be asked to sign a written agreement setting out your and the real estate professional's responsibilities. AS A NON-CLIENT A real estate professional who is not representing you as a client does not owe you special legal duties: · No loyalty. They may be representing a client with competing interests to yours in a transaction. They must be loyal to their client, not you. · No duty of full disclosure. They do not have a duty to give you all relevant information. · No duty to avoid conflicts. They are not acting in your interests. · No confidentiality. They must share any information you tell them with their clients in a transaction. As a non-client, a real estate professional may give you only limited services. Whenever a real estate professional works with you in a real estate transaction, whether you are their client or not, they have a responsibility to act honestly and with reasonable care and skill. PAGE 1 OF 2 Visit us online for information on real estate transactions, ask us a question, file a complaint or an anonymous tip. 1 866 206 3030 | anonymous tipline: 1 833 420 2400 | info@bcfsa.ca Your Relationship with a Real Estate Professional DISCLOSURE OF REPRESENTATION IN TRADING SERVICES This is a required disclosure form in compliance with sections 54 of the Real Estate Services Rules. Your real estate professional must present the Your Relationship with a Real Estate Professional information page to you along with this disclosure form. REAL ESTATE PROFESSIONAL DISCLOSURE DETAILS I disclose that I am (check one): representing you as my client not representing you as a client Name Team name and members, if applicable. The duties of a real estate professional as outlined in this form apply to all team members. Signature Notes: Date CONSUMER ACKNOWLEDGMENT: This is NOT a contract I acknowledge that I have received the Your Relationship with a Real Estate Professional consumer information page and this disclosure form. Name (optional) Name (optional) Initials (optional) Date Initials (optional) Date A copy of this disclosure is not required to be provided to BC Financial Services Authority unless it is specifically requested. PAGE 2 OF 2 Not a Client? Know the Risks Real estate professionals have a regulatory requirement to present you with this consumer information. BC Financial Services Authority is the legislated regulatory agency that works to ensure real estate professionals have the skills and knowledge to provide you with a high standard of service. All real estate professionals must follow rules that help protect consumers, like you. We're here to help you understand your rights as a real estate consumer. Keep this information page for your reference. This information from BC Financial Services Authority explains the risks of working with a real estate professional who is already representing a client in the same transaction. We recommend that you seek independent representation in this real estate transaction. BE CAUTIOUS. The real estate professional who gave you this form is already representing a client in this transaction. They owe a duty of loyalty to that client and must work in that client's best interests. They cannot represent you or work in your interests in this transaction. This real estate professional must tell their client any relevant information you share with them. For example, if disclosed by you, they must share the following information: · your reasons for buying, selling or leasing · your minimum/maximum price · any preferred terms and conditions you may want to include in a contract Only share information that you are comfortable being disclosed to the other party in this transaction. This real estate professional can only provide you very limited services. Because this real estate professional must be loyal to their client and work in their client's interest, they can only give you limited assistance. TH E Y CA N N OT: THEY CAN: give you advice on an appropriate price give you advice about any terms and conditions to include in a contract negotiate on your behalf share any of their client's confidential information with you, like: · their minimum/maximum price · their reason for buying/selling/leasing. protect your confidential information share general information and real estate statistics show a property and provide factual information about the property provide you with standard real estate forms and contracts fill out a standard real estate contract communicate your messages and present your offers to their client PAGE 1 OF 2 Visit us online for information on real estate transactions, ask us a question, file a complaint or an anonymous tip. 1 866 206 3030 | anonymous tipline: 1 833 420 2400 | info@bcfsa.ca Not a Client? Know the Risks DISCLOSURE OF RISKS TO UNREPRESENTED PARTIES This is a required disclosure form in compliance with section 55 of the Real Estate Services Rules. A real estate professional must present the Not a Client? Know the Risks information page to you along with this form. REAL ESTATE PROFESSIONAL DISCLOSURE DETAILS I am already representing a client in this transaction and working in only their best interest. I am not representing you or acting on your behalf. Name Team name and members. The duties of a real estate professional as outlined in this form apply to all team members. Brokerage Signature Date Property address Notes: CONSUMER ACKNOWLEDGMENT: This is NOT a contract I acknowledge that I have received the Not a Client? Know the Risks consumer information page and this disclosure form. I understand that the real estate professional named above is not representing me as a client or acting on my behalf in this transaction. Name (optional) Name (optional) Initials (optional) Date Initials (optional) Date A copy of this disclosure is not required to be provided to BC Financial Services Authority unless it is specifically requested. PAGE 2 OF 2Adobe Acrobat Pro DC (32-bit) 21.7.20099 Adobe Acrobat Pro DC (32-bit) 21.7.20099