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.
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