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As a real estate professional, it is your duty to always act in the best interests of your clients. RECBC is reminding you today that you also have a responsibility to protect the public by acting with care and skill – and that means providing real estate services that meet high standards of professionalism and ethics.
In the current highly competitive real estate market, buyers and sellers may feel under pressure to act quickly, and to make offers with no conditions, often without having financing secured. It is the responsibility of every real estate professional to ensure that consumers have the information they need to make well-informed decisions, and that they are fully aware of the risks and potential consequences of their decisions.
Informed Consumers are Protected Consumers
RECBC is cautioning British Columbians that before making one of the biggest financial decisions of their lives, they should talk with their real estate professional to make sure they are aware of all the risks they may face. Having a frank and open conversation about these risks is an essential part of acting in your client’s best interests. Consumer resources and tips are available on the RECBC website that you can share with your clients to support them in making a well-informed decision.
In the first three months of 2021, RECBC has seen an increase in the numbers of calls and complaints we receive from real estate consumers. That’s why we are reminding licensed professionals of your duty to uphold high standards of conduct at all times.
We Monitor to Ensure Protection
Through its brokerage audit program, RECBC is proactively monitoring to ensure all professionals continue to adhere to regulatory requirements during this time of heightened activity in the real estate market. If consumers have been put at risk by the actions of a real estate professional, we will take steps to protect the public by starting an investigation that can lead to discipline.
For further information about the regulatory requirements and professional expectations, contact RECBC’s Professional Standards Advisors at [email protected] or by phone at 1-877-683-9664.