Real Estate Trading Services
Real Estate Trading Services is the term that has been used to refer to the activities related to the purchase and sale of real estate.
RESA ( Real Estate Services Act ) defines " trading services" to mean any of the following services provided to or on behalf of a party to the trade in real estate:
a) advising on the appropriate price for the real estate;
b) making representations about real estate;
c) finding the real estate for a party to acquire;
d) finding a party to acquire the real estate;
e) showing of real estate;
f) negotiating the price of the real estate or the terms of the trade in real estate;
g) presenting offers to dispose of or acquire the real estate; or
h) receiving deposit money paid in respect of the real estate
NOTE: as of June 15, 2018 the Real Estate Council of British Columbia and the Superintendent of Real Estate of B.C announced some major changes in how Realtors enguage with consumers with regards to offering and suppling Real Estate Services.
All consumers of Real estate must be presented before Real Estate Servies are conducted with a " Disclosure of Repressentation in Trading Services" the form. This form must be presented and explained to the consumer. The consumer must acknowledge understanding of the information and a signature is required. The consumer is not obligated to sign this form, however the Realtor is obligated to present, explain and file the form with their brokerage.
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