An Alberta real estate associate receives a cash gift from a grateful client after a successful transaction. What does the RECA Code of Conduct require?
Correct Answer
B) All trade-related remuneration must be disclosed to and paid through the brokerage
Under the Real Estate Act and RECA rules, all remuneration, commissions, or other benefits received by an associate in connection with a real estate transaction must be disclosed to and processed through their brokerage. Associates cannot receive compensation directly from clients outside of the brokerage relationship.
Why This Is the Correct Answer
Under Alberta's Real Estate Act and RECA rules, all remuneration, commissions, gifts, or benefits received by an associate in connection with a real estate transaction must be disclosed to and processed through their brokerage. This ensures transparency and proper accounting, and prevents secret profits or undisclosed incentives.
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An Alberta associate learns that a property they are listing has a significant hidden structural defect that the seller has not disclosed. What is the associate's obligation?
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