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BCFSA’s information provides clear, concise, easy-to-read explanations of the requirements for real estate professionals under the Real Estate Services Act (“RESA”), Real Estate Services Regulation (“Regulation”), Real Estate Services Rules (“Rules”), and other applicable legislation.
This information is intended for use by real estate professionals, to support their understanding of the standards they must meet in the delivery of real estate services.
(a) Duty to Report Under the Rules
As in other professions, real estate professionals are required to report misconduct. The Rules state that you must promptly notify your managing broker when you are confronted by conduct within your brokerage that you consider to be:
- Professional misconduct on the part of a real estate professional;
- Conduct unbecoming of a real estate professional; or
- Improper or negligent conduct on the part of a real estate professional, employee or other person associated with the brokerage.
This requirement includes not only misconduct of another real estate professional or unlicensed employee at your brokerage, but also your own misconduct. As a professional you have an obligation to report these things to protect the public, yourself, your brokerage and the real estate profession.
The broad language used in the Rules encompasses any misconduct that could put consumers at risk. This may include a violation of federal legislation related, for example, to anti-money laundering legislation, competition laws and even violations of anti-spam legislation.
Failure to report the misconduct to your managing broker and/or a failure by your managing broker to take reasonable steps to resolve the matter may be considered professional misconduct or conduct unbecoming.