BCFSA Disclosures

British Columbia real estate licensees are required to provide two standard disclosure forms to consumers. These forms are written and maintained by the BC Financial Services Authority (BCFSA) and they apply to every licensed trade in real estate in the province.

The two forms are meant to help you understand what a licensee does for you, what they do not do for you, and how you are protected when you are on the other side of a transaction. Jason walks through both forms with every client at the first working meeting — this page is here so you can read them ahead of time if you want to.

1. Disclosure of Representation in Trading Services

This form is given to you before any real estate service is provided. It sets out the nature of the relationship between you and the licensee — whether you are a client (with full fiduciary duties owed to you) or an unrepresented party (owed only limited duties).

When Jason takes you on as a client (either a buyer or a seller), you sign a written service agreement. From that point, Jason owes you the full set of client duties under the Real Estate Services Rules: loyalty, avoidance of conflicts, full disclosure of material facts, confidentiality of your information, and the duty to act in your best interest.

Read the official form: BCFSA Disclosure of Representation in Trading Services.

2. Disclosure of Risks to Unrepresented Parties

If you are on the other side of a transaction from one of Jason's clients — for example, you are an unrepresented buyer looking at one of Jason's listings, or an unrepresented seller dealing with one of Jason's buyers — Jason has to give you this form before any substantive conversation.

This form explains that, as an unrepresented party, Jason cannot give you advice, cannot advocate for your position, and must pass along material information he learns about you to his client. Anything you tell him is not confidential and may be disclosed to the party he represents.

If you want representation, Jason can either refer you to another REALTOR® or, where appropriate, convert the working relationship into a client relationship with a signed service agreement.

Read the official form: BCFSA Disclosure of Risks to Unrepresented Parties.

3. Material latent defects

A seller and their representative are required under section 5-13 of the Real Estate Services Rules to disclose any material latent defect known to them — a defect that cannot be discovered on a reasonable inspection and that makes the property dangerous or unfit for its intended use, or that would cost significant money to remedy. Jason takes this obligation seriously and expects the same from the sellers he represents.

4. Limited dual agency is not permitted

BC banned limited dual agency in 2018, except in narrow circumstances in remote areas where no other licensee is reasonably available. Jason does not practise limited dual agency. If a situation arises where Jason already represents one party in a transaction and you want representation on the other side, Jason will refer you to another licensee so you get your own advocate.