Under the BC Real Estate Services Act (RESA) and its Rules, what is the minimum period for which a buyer representation agreement can be entered into?
Correct Answer
D) No minimum specified
Neither RESA nor the Real Estate Services Rules set a minimum term for a buyer agreement, and they set no maximum either. Rules s. 43 requires a written service agreement, including an expiry date, only for listing (seller) trading services, rental property management and strata management, unless waived; the term is for the parties to negotiate.
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