What Kind of a Relationship do you Have?

There are two types of relationships that you may have with a real estate professional that involves buying, selling or leasing a property.

If you’re shopping for a new home, or ready to sell your current home, there comes a time where you will need to reach out to a real estate professional for help and guidance. But, before disclosing confidential information, you should decide what type of business relationship you want to have.

Prior to providing services, a real estate professional must present you with the “Disclosure of Representation in Trading Services” form. This Disclosure of Representation was put into place by the Real Estate Council of BC in order to regulate real estate professionals and to protect you the consumer. On this form, you will have the opportunity to choose whether you will be represented as a client or a non-client

As a Client

If you choose to be a “client” of a real estate professional, they will work on your behalf and will have special legal duties to you:

1)    Loyalty

Your real estate professional will act in your best interest at all times

2)    Full Disclosure

Your real estate professional must disclose everything they know that may influence your decision in a transaction

3)    Avoid Conflicts of Interest

They must avoid situations that affect your real estate professional’s duty to act in your best interest

4)    Confidentiality

Your private information cannot be revealed by your real estate professional without permission (even after your relationship ends). This includes:

  • reasons for buying, selling or leasing
  • minimum/maximum price
  • any preferred terms and conditions you may want included in a contract

As a Non-Client

A real estate professional may only provide limited services to a Non-Client. If you chose a Non-Client relationship, the real estate professional will not be obligated to you for any of the special legal duties noted below:

1)    Loyalty

The real estate professional may be representing a client who has competing interests in a transaction, that real estate professional owes their loyalty to their client, not to you

2)    No Duty of Full Disclosure

A real estate professional does not have a duty to provide you with all the relevant information

3)    No Duty to Avoid Conflicts

A real estate professional is not acting in your interests

4)    No Confidentiality

A real estate professional must share any information you tell them with their clients in a transaction

Whether you chose to be a Client or Non-Client, when a real estate professional works with you in a real estate transaction, they still have the responsibility to act honestly and with reasonable care and skill but may only provide limited services as a Non-Client

Please Note: The Disclosure of Representation in Trading Services is NOT a contract, it is a document designed to protect you, the consumer.

Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.