Real Estate Blog

DISCLOSURE TO SELLERS OF EXPECTED REMUNERATION

Mandatory Form required under section 5-11.1 of the Real Estate Rules.

Each time a trading services licensee presents an offer to their seller client, they must include a completed disclosure form that informs the client about the remuneration the licensee's brokerage will receive.

The form explains to the seller:

• the total commission that the listing brokerage would receive if the offer is accepted
• how the commission would be shared with any cooperating brokerage
• any other payment the licensee will receive, or expects to receive, as a result of the trade

This information helps ensure that sellers are fully informed of the expected remuneration that the brokerage(s) will

DISCLOSURE OF RISKS ASSOCIATED WITH DUAL AGENCY

Mandatory disclosure required under section 5-17 of the Real Estate Rules, effective June 15, 2018.

The Superintendent has provided a narrow exemption to the rule prohibiting dual agency, for rare situations where:

(1) the trade occurs in remote locations

(2) that are under-served by licensees and 

(3) where an alternative to dual agency would be impracticable

All three conditions must be met in order to qualify under this exemption.

"Impracticable" means "not capable of being done." It does not mean "inconvenient."

Before practicing dual agency under this exemption, a licensee must make a disclosure to both parties to the transaction called the Disclosure of Risks Associated

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AGREEMENT REGARDING CONFLICT OF INTEREST BETWEEN CLIENTS

Mandatory Form required under the section 5-18 of the Real Estate Rules, effective June 15, 2018.

When the Superintendent of Real Estate rules takes effect on June 15th, you won't be able to continue representing both clients in these situations because that would amount to dual agency. However, under section 5-18 of the Rules, licensees will now have two options to manage situations where to continue acting for both clients would amount to dual agency:

(1) Refer each client to other real estate licensees to represent their interests in the transaction, or

(2) If both clients agree, continue acting for one client and stop representing the other client in this transaction.

DisCLOSURE OF REPRESENTATION IN TRADING SERVICES

Mandatory Form required under section 5-10 of the Real Estate Rules, effective June 15, 2018.

Effective June 15, 2018 the licensees must use the "Disclosure of Representation in Trading Services" to disclose the type of representation they can offer a consumer.

This mandatory form clearly explains to consumers the difference between being represented and unrepresented, and which of those options they are being offered by the licensee who is providing them with the form.

Licensees may no loner use the British Columbia Real Estate Association'w Working With A Realtor Brochures to meet their disclosure requirements.

Reading The News with Denise, Recent Sales, 7 day Market Update

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​​​Whistler 7 Day Update   16 New Listings in the past 7 days CLICK HERE 7 Price Changes in the past 7 days CLICK HERE 17 Completed Sales in the past 7 days CLICK HERE     224 Current Listings in Whistler CLICK HERE ​ ​     ​

Favorite Listings of the week, Recent Sales, 7 day Market Update

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Coming Soon! ​ A 2886 sqft family home in the Glen.  This three story property offers an open concept with 9 foot ceilings on the main floor.  3 bedrooms and 2.5 bedrooms.  An office, multi purpose room and two car garage makes this spacious house perfect for a busy, active family.  Stay tuned, this incredible, move in ready home will be on the market next week

Home buyer demand stays below historical averages in August

The Metro Vancouver (1) housing market continues to experience reduced demand across all housing types.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,929 in August 2018, a 36.6 per cent decrease from the 3,043 sales recorded in August 2017, and a 6.8 per cent decline compared to July 2018 when 2,070 homes sold.

Last month’s sales were 25.2 per cent below the 10-year August sales average.

“Home buyers have been less active in recent months and we’re beginning to see prices edge down for all housing types as a result,” Phil Moore, REBGV president said. “Buyers today have more listings to choose from and face

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