Hope everyone had a safe and fun July Long Weekend – just a quick update to let all of our past, current and future clients know about the Written Service Agreement that goes into effect tomorrow.

 

Effective July 1, 2014, the Real Estate Council of Alberta (RECA) will require industry members who establish a client relationship when trading in residential real estate, property management, or when dealing in mortgages to enter into a written service agreement with that client. Written service agreements help ensure the role of an industry professional is clear , and when clients are better informed, there is less confusion and typically, fewer disputes.

Written service agreements help industry professionals clearly and confidently communicate with clients about:
•the relationship between the parties;
•the services to be provided by the brokerage;
•the obligations and responsibilities of the parties;
•consent for collection, use and distribution of personal information of the client;
•method of calculation of remuneration or how the industry professional will be compensated; and,
•consent to obtain a credit report (for mortgage brokerage professionals).