Radon

2019

This bulletin describes the practice standards with respect to the detection, disclosure, and remediation of radon gas when trading in real estate or providing property management services.

• Real Estate Act Rules, sections 1(1)(t), 41(b), 41(j), 57(i), 59(4)(e), 59.1(4)(b)(v)

Brokerage - Occupational Health and Safety

2019

This bulletin highlights the requirements brokerages and real estate appraisers must meet under Alberta’s Occupational Health and Safety Act.

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Commissions-Payment from Trust

2019

This information is currently under review.

• Real Estate Act Rules – sections 96, 97

Brokers - Delegation

2018

This bulletin explains when and how you may delegate, or assign, your responsibilities to another industry member.

• Real Estate Act Rules – sections 52, s.68

Education Code of Conduct

2018

This bulletin explains the conduct RECA expects of learners who enrol in RECA education programs.

• Real Estate Act Rules – Schedule 3 Education Code of Conduct
• Real Estate Act Rules – Schedule 4 Education Code of Conduct for Learners: Compliance Process and R

Prohibition - Fraudulent or Unlawful Activity

2018

This bulletin assists industry professionals to identify illegal and fraudulent activities and bring awareness to protect their integrity.

• Real Estate Act Rules – section 42(b)

Responsibilities and Prohibitions - Real Estate Brokerage

2018

This bulletin explains real estate brokerage responsibilities and prohibitions.

• Real Estate Act Rules – sections 14(h), s.32, s.49, s.50
• Part 3 Accounting, Records and Reporting Requirements

Comply with Legislation

2018

To emphasize you must practice in accordance with the Real Estate Act, Regulations, Rules, Bylaws and any other laws that govern industry professionals.

• Real Estate Act Rules – section 41(g)

Cost of Credit Disclosure - Mortgage Brokerage

2018

To explain the cost of credit disclosure requirements and the responsibilities of mortgage broker professionals.

• Real Estate Act Rules – s.71(1)(b), s.73(4), s.74(1)(a)
• Consumer Protection Act
• Consumer Protection Act Regulations
• Cost of Credit

Delivery of Documents - Mortgage Brokerage

2018

This bulletin explains the delivery of documents when you represent the lender.

• Real Estate Act Rules – sections 73(3) , s.74

Disclose Cost of Services

2018

This bulletin explains why and when industry professionals must disclose to their clients how they will receive pay for their services.

• Real Estate Act sections 18(2) and 18(3)
• Real Estate Act Rules section 41(c), s.43(1)(2)(b)(viii), s.44, s.45, s.56,
  s.65(c), s.70, s.71, s. 73(1)(2)(b)(viii)

Financial Hardship - Options and Obligations

2018

This bulletin explains the obligations and options available when industry members and/or their businesses run into financial hardship.

• Real Estate Act Rules – sections 14(1)(m), 34(1)(e), 40(1)(e), 42(g)

Mortgage Brokerage - File Review and Commission Payment Processes by Franchisor

2018

This bulletin explains the requirements when National Mortgage Broker Networks provide file review and commission payment services to Alberta mortgage brokerages.

• Real Estate Act Rules – section 70(1)(c)

Incentives

2018

To help industry professionals understand brokerage incentives. Different from inducements.

• Real Estate Act Rules – sections 1(1)(o)(q), s. 54(1)(d), s.70(1)(d)

Mortgage Brokerage Relationship Options

2018

This bulletin explains the relationship options mortgage brokerages can have with borrowers and lenders and the requirement to clearly explain their role to borrowers and lenders.

• Real Estate Act Rules – sections 41(e) and 65(c)(i)(ii)

Residential Measurement Standard - Documentation

2017

This bulletin details the documentation that the Real Estate Council of Alberta expects real estate professionals to maintain in a file with respect to the Residential Measurement Standard.

• Real Estate Act Rules sections 41(b), 42(a)

Access to Property

2017

Sets out the responsibilities real estate professionals have when accessing property

• Real Estate Act Rules – sections 41(a)(b), 42(a)(g)

Enforcement of the Residential Measurement Standard (RMS)

2017

This bulletin describes RECA’s approach to enforcement of the Residential Measurement Standard (RMS).

• Real Estate Act Rules – sections 41(b), 42(a)

Good Character - Licensing

2017

This bulletin explains how the Real Estate Council of Alberta’s (RECA) good character policy applies to applicants, including what good character is; conduct that may raise good character issues; the licensing review process and potential outcomes; and, factors the executive director considers in licensing decisions.

• Real Estate Act Rules – section 34

Good Character - Professional Conduct Review

2017

This bulletin explains how the Real Estate Council of Alberta’s (RECA) good character policy applies to individuals who are subject to a professional conduct review (investigation).

• Real Estate Act Rules – sections 40 and 42(g)

Customer - Real Estate Brokerage

2017

This bulletin defines a customer relationship and explain the obligations you owe to a customer and optional services.

• Real Estate Act Rules – sections 1(1)(i), s.60, s.60.1, Schedule 1 (Forms 8 and 9)

Residential Measurement Standard (RMS)

2017

This bulletin describes the Residential Measurement Standard (RMS) in Alberta, which licensed real estate professionals must use when measuring residential properties.

• Real Estate Act Rules – section 41(b), 42(a)

Referrals - Payment to Unlicensed Persons

2017

This bulletin outlines the obligations when an industry professional pays an unlicensed person.

• Real Estate Act – sections 1(1)(j)(q)(r)(s.1)(v)(x)
• Real Estate Act Rules – section s 1(1)(bb), s. 50(d), s.66(d)

Mere Postings

2017

This bulletin explains the relationship between a real estate professional and a mere posting seller and answers mere posting frequently asked questions.

• Real Estate Act Rules – sections 1(1)(g), s.1(1)(i), s.41(e), s.42(a), s.43, s.58(h), s.60(4), s.60(5)

Real Property Reports

2016

This bulletin explains Real Property Reports and their importance in real estate transactions.

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Title Insurance

2016

To explain the types of title insurance, its benefits, when consumers may require insurance, and to compare title insurance to Real Property Reports.

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When Your Real Estate Brokerage Closes

2016

Explains the steps real estate professionals should take when their brokerage has shut down or their brokerage announces it will shut down.

• Real Estate Act Rules – section 41(b)

Failure to Waive Conditions on Time

2016

This bulletin explains the consequence and best practice when clients do not satisfy or waive conditions in writing, by the agreed date in the purchase contract.

• Real Estate Act Rules – section 41(b)

Mortgage Fraud Red Flags - Real Estate Appraisal Professionals

2016

To help real estate appraisal professionals evaluate whether mortgage fraud is taking place.

• Real Estate Act Rules – sections 41(a), s.42(a)(b), 79

Mortgage Fraud Red Flags - Mortgage Brokerage Professionals

2016

To help mortgage brokerage professionals evaluate whether mortgage fraud is taking place.

• Real Estate Act Rules – sections 41(a), s.42(a)(b)