RECBC: VideoDisclosure to Sellers of Expected Remuneration (June 11 2018)

Posted by Super Admin on Wednesday, October 3rd, 2018 at 5:01pm.

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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 receive if they accept an offer.

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