What is the primary obligation of an Alberta real estate professional under the RECA Code of Conduct?
Correct Answer
A) To act with honesty, competence, and integrity in all dealings
The RECA Code of Conduct requires all industry professionals to act with honesty, competence, and integrity in all their dealings. This overarching obligation applies to interactions with clients, customers, other professionals, and the public.
Why This Is the Correct Answer
The RECA Code of Conduct establishes that all industry professionals must act with honesty, competence, and integrity in all dealings. This is the primary and overarching obligation that governs every aspect of professional conduct, applying to interactions with clients, customers, other professionals, and the public.
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More Agency & Professional Ethics Questions
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Which of the following scenarios represents a conflict of interest that must be disclosed?
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- → Which of the following best describes the duty of confidentiality owed by a real estate agent?
- → What information must an agent disclose to a buyer client about a property's condition?
- → A real estate agent discovers that a property they are showing has a known foundation issue that the seller has not disclosed. What should the agent do?
- → In a complex commercial transaction, a real estate professional discovers information that creates competing duties between their fiduciary obligation to their client and their duty to disclose material facts to other parties. How should this conflict be resolved?
- → An agent representing a buyer learns confidential information about the seller's motivation to sell quickly due to financial hardship. How should this information be handled?
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- → A listing agent learns that the home was once used as a marijuana grow operation and has since been fully remediated. The seller's lawyer confirms the seller has no legal obligation to disclose this, and the seller does not want it disclosed. What should the listing agent do?
- → An Ontario salesperson represents a seller who receives two identical offers, one of them from the salesperson's spouse. The seller does not know about the relationship. What does the Code of Ethics require if the salesperson is to keep acting for the seller?
- → What is 'designated agency' in the context of Alberta real estate?
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