New rules and forms have been introduced to B.C. to help further aide you as consumers in real estate transactions. The three main forms are: Disclosure of Representation in Trading Services (DRTS), Privacy Notice and Consent, and Disclosure to Sellers of Expected Remuneration (DSER). Read below to find out how they will be used throughout the buying and selling process of real estate.

Disclosure of Representation in Trading Services (DRTS)

The DRTS form lays out what it means to be a client or an unrepresented party. This form will be presented to you before any conversation that may reveal personal information about yourself. It lets you understand the benefits of being a represented client including duties from your Realtor such as loyalty, expert advice, protection, and full disclosure versus what may happen when you are left unrepresented. It will also ask you to decide whether you are going to be a client or an unrepresented party. This does not mean that you are obligated to work with this Realtor, it is just allowing you to share confidential information about yourself, while knowing that this realtor will keep it confidential. Confidential information could include your financial qualifications, budget, and motivation.

Privacy Notice and Consent

This form provides you with how, when, and why we will use and collect any personal information of yours that is necessary to your real estate transaction.

Disclosure to Sellers of Expected Remuneration (DSER)

The DSER allows your realtor to disclose to you (as a seller) what you will be expected to pay your real estate brokerage and the potential buyers real estate brokerage depending on the offered purchase price. This form will be presented to you (the seller) before the offer is discussed and may be presented to you multiple times depending on counter offers.