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Regulatory ComplianceBCMEDIUM

Under BC's Real Estate Services Rules, which of the following is a disclosure obligation of a trading services licensee representing a buyer?

Correct Answer

A) Disclosing conflicts of interest, the agency relationship, and known material information about the property

Real Estate Services Rules s. 30(f) and (j) require a licensee to disclose all known material information and any conflict of interest to the client, and s. 54 requires disclosure of the representation relationship. The other options describe breaches: revealing another party's confidential information or the buyer client's own maximum price, which s. 30(e) requires the licensee to keep confidential.

Answer Options
A
Disclosing conflicts of interest, the agency relationship, and known material information about the property
B
Disclosing the seller's bottom-line price to the buyer, since the buyer's agent must share everything that helps the client
C
Disclosing the buyer's maximum price to the seller's licensee so that the deal can close faster
D
Disclosing other buyers' offer amounts so the client can make the most competitive offer possible

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Key Terms

disclosure obligationsRules s. 30disclosure of representationremuneration disclosure s. 56confidentiality
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