Under the RECA Rules made under Alberta's Real Estate Act, when must a licensee representing a buyer in a commercial transaction disclose the nature of their services and any conflict of interest?
Correct Answer
B) In writing, before eliciting confidential information or entering a service agreement
RECA Rules s. 55(1) requires a licensee, before eliciting (or as soon as possible after receiving) confidential information about a person's real estate needs, and in any event before entering into a service agreement, to disclose in writing the nature of the services, whom else the licensee acts for, any conflict of interest and other facts likely to influence the person's decision. The rule applies to commercial as well as residential clients.
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