Under Alberta's Real Estate Act and RECA regulations, what must a real estate professional do when discussing mortgage options with clients?
Correct Answer
C) Recommend clients consult with qualified mortgage professionals
RECA regulations require real estate professionals to work within their scope of practice and recommend clients seek advice from qualified mortgage professionals for detailed mortgage guidance. Real estate licensees should not provide specific mortgage advice unless they hold appropriate additional licensing.
Why This Is the Correct Answer
Option C is correct because RECA regulations explicitly require real estate professionals to work within their scope of practice. Unless a real estate licensee holds additional mortgage broker licensing, they must refer clients to qualified mortgage professionals for detailed mortgage advice. This protects both the client and the licensee from potential harm or liability arising from advice outside the licensee's area of expertise.
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