An Alberta brokerage has an agency relationship with a seller, and a buyer that the same brokerage represents wants to buy that seller's property. Under Rule 59(1) of the RECA Rules, what may the buyer, the seller and the brokerage do to facilitate the purchase?
Correct Answer
A) Enter into a written transaction brokerage agreement with respect to that property
Rule 59(1) provides that when a brokerage represents a seller and a buyer it also represents is interested in that seller's property, the buyer, the seller and the brokerage may enter into a written transaction brokerage agreement with respect to that property. Under that agreement the brokerage treats both parties in an even-handed, objective and impartial manner and provides facilitation services rather than advocating for either side.
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