BCREA Launches Disclosures in Real Estate Course
By Ellen Baragon, Guest Contributor
BCREA has launched Disclosures in Real Estate (DIRE), a new course to help you better understand the scope of your disclosure obligations. The course focuses on how and when to properly make disclosures in order to better support clients, reduce risk, and remain compliant with legislation and professional standards.
Don't let the ‘dire’ acronym put you off though. Disclosure obligations don’t have to be daunting, as long as you have a clear understanding of the requirements as spelled out in law and in our industry’s professional standards.
DIRE IS FOR ALL REALTORS
This course is ideal for early career Realtors as it offers a foundational understanding of all disclosures. But long-time Realtors and Managing Brokers will also benefit from revisiting the reasoning behind disclosure practices.
DIRE is comprehensive and covers the broad range of disclosure situations that Realtors normally encounter and some of the less common ones, related to:
- Establishing agency
- Working with unrepresented parties
- Conflicts of interest
- Dual agency
- Revealing an interest in trade
- Personal information
- Property disclosures
To give learners a practical understanding of Realtor disclosure, DIRE uses the 4D formula (decide, disclose, document, demonstrate) to help you navigate some of the more multidimensional disclosures you may deal with.
FAILURE TO DISCLOSE COMES WITH RISKS
The course emphasizes the high standards Realtors are expected to meet when providing services, as well as the risks associated with failing to make adequate disclosure.
With a thorough understanding of the legislation and professional standards governing disclosure, you willbe confident that no matter the situation, you will be well equipped to meet the standards of professionalism that is the mark of a successful, highly professional Realtor.
The Disclosures in Real Estate course is currently available alongside Managing Disclosures, as both may be counted towards accredited hours within the same PDP cycle.
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