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We’ve made wording changes on the forms, to eliminate the use of terms that were potentially confusing to some consumers. A good example is the term “unrepresented party”. Instead of using that term on the form, we’re using the term “non-client” to help consumers understand that they can receive some services from a real estate professional without being in an agency relationship, but that in that case, the real estate professional will not owe them the fiduciary duties that are owed to a client.
On the second page of the form, licensees must indicate the name of their team, if any, as well as the names of all team members. This field was added in recognition of the fact that all team members share the same obligations to a client and should be disclosed. In cases where there isn’t room for all the team member’s names, licensees could choose to use the notes field, or to attach a separate page. Licensees will need to keep up to date with changes to team members, so that when new members join a team or members leave, the information they are disclosing here is accurate.
You should list all licensed team members in the appropriate form.
Acknowledging the receipt of the disclosure by initialing the form is optional. If the consumer chooses not to initial the form, you may use the notes section to document that the form was provided.
All of the forms encourage licensees to give the completed form to the consumer, so that they retain the information. Real estate professionals still have an obligation to send a copy of the completed form to their brokerage, and it is up to them how they fulfil this obligation – they may choose for instance to take a picture of the completed form with their mobile phone, or to use the BCFSA app.