Under the Real Estate Act, when must an industry professional provide a written disclosure of their role in a transaction to a party?
Correct Answer
B) Before providing any services or as soon as practicable
Under the Real Estate Act and RECA rules, an industry professional must disclose their role and the nature of the relationship (agency, transaction brokerage, or customer service) to all parties before providing services, or as soon as practicable. This ensures all parties understand the professional's obligations.
Why This Is the Correct Answer
Under the Real Estate Act and RECA rules, an industry professional must disclose their role (agent, transaction broker, or customer service provider) to all parties before providing any services, or as soon as practicable. This early, proactive disclosure ensures parties understand the professional's obligations and can make informed decisions.
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