In British Columbia, what is required when a real estate agent wants to purchase a property listed by their own brokerage?
Correct Answer
C) Written disclosure of their interest, made before any agreement
Real Estate Services Rules s. 53 requires a licensee who is to acquire real estate to disclose that interest to the owner promptly and before any agreement is entered into, in a form approved by the superintendent. The disclosure must include, among other things, the remuneration the licensee expects to receive and whether the property is to be held or resold.
Why This Is the Correct Answer
This answer is correct. Section 53 requires the licensee to disclose their interest in the trade to the owner, promptly and before any agreement is entered into, in the form approved by the superintendent.
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