The Disclosure of Representation in Trading Services form is a document used by the British Columbia Financial Services Authority (BCFSA) in Canada. The form is designed to inform consumers about the nature of their relationship with a real estate professional or mortgage broker when receiving trading services.
The purpose of the form is to ensure that consumers understand who their real estate professional or mortgage broker is working for and what services they will be providing. The form must be provided to the consumer at the earliest opportunity, preferably before they enter into any agreement with the real estate professional or mortgage broker.
The form requires the real estate professional or mortgage broker to disclose whether they are acting as the consumer's agent, subagent, or dual agent. It also requires them to disclose any conflicts of interest they may have, such as if they are representing both the buyer and seller in a transaction.
The Disclosure of Representation in Trading Services form is an important document that helps ensure that consumers are fully informed about the nature of their relationship with a real estate professional or mortgage broker. It promotes transparency and helps to prevent conflicts of interest, which ultimately benefits consumers.
