Real estate professionals have a regulatory requirement to present you with this consumer information before providing services to you.
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.
The Real Estate Council of BC 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.
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:
As a non-client
A real estate professional who is not representing you as a client does not owe you special legal duties:
|Loyalty: They will act only in your best interests.||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.|
|Full disclosure. They must tell you everything they know that might influence your decision in a transaction.||No duty of full disclosure. They do not have a duty to give you all relevant information.|
|Avoid conflicts of interest. They must avoid any situation that would a ect their duty to act in your best interests.||No duty to avoid conflicts. They are not acting in your interests.|
|Confidentiality. They must not reveal your private information without your permission, even after your relationship ends. That includes:
When you become a client, you may be asked to sign a written agreement setting out your and the real estate professional’s responsibilities.
|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.
Disclosure Of Representation In Trading Services
This is a required disclosure form in compliance with section 5-10 of the Rules under the Real Estate Services Act. Your real estate professional must present the Your Relationship with a Real Estate Professional information page to you along with this disclosure form.