Under the RECA Rules, what applies to a written service agreement when a licensee establishes a client relationship in a commercial real estate trade?
Correct Answer
C) The licensee should enter into one, though it is not mandatory
Rule 43(1.1) says a licensee who establishes a client relationship when trading in commercial real estate should enter into a written service agreement, while Rule 43(1) makes one mandatory for residential trades. The Schedule 1 forms are mandatory under Rule 60.1 only for trades in residential real estate.
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