Working With a REALTOR® Form

In British Columbia, the form commonly called the 'Working With a REALTOR®' form is officially known as the Disclosure of Representation in Trading Services (DORTS). It is a standardized document that licensees are required to provide and review with consumers under the Real Estate Services Act (RESA) and the rules established by the BC Financial Services Authority (BCFSA). The form explains the different types of relationships a consumer can have with a licensee, including client status and unrepresented-party status.

Under BCFSA Rules made pursuant to the Real Estate Services Act (RESA), a licensee must provide and review the Disclosure of Representation in Trading Services with a consumer as soon as reasonably practicable before trading services are provided. This means the form should generally be reviewed at the very first substantive interaction, such as before showing a property or discussing a listing in detail. The intent is to ensure consumers understand the agency relationship before receiving any real estate services.

The Disclosure of Representation in Trading Services explains that a consumer who enters into an agreement for trading services with a licensee becomes a client, to whom the licensee owes fiduciary-like duties including loyalty, confidentiality, and full disclosure under the Real Estate Services Act (RESA) and BCFSA Rules. An unrepresented party, by contrast, is a consumer who chooses not to be represented by a licensee and to whom the licensee owes more limited duties, primarily honesty and disclosure of known material latent defects. Understanding this distinction helps consumers make an informed decision about whether to engage a licensee as their representative.

No — signing or acknowledging the Disclosure of Representation in Trading Services form does not itself create a contractual obligation to work exclusively with that licensee or pay remuneration. The form is a disclosure document required under the Real Estate Services Act (RESA) and BCFSA Rules, designed to inform consumers of their options regarding representation. A binding contractual relationship for trading services, such as a buyer's agency agreement or a listing contract, is a separate document that the consumer would need to sign.

Yes, the Disclosure of Representation in Trading Services includes information about the Home Buyer Rescission Period (HBRP), which gives buyers of certain residential properties in BC the right to rescind an accepted offer within a prescribed period after the offer is accepted, subject to a rescission fee set by regulation. The HBRP applies to prescribed classes of residential real property as defined under the relevant BC regulation, and its inclusion in the form ensures buyers are made aware of this consumer protection right before or at the outset of their home search. Consumers should consult the BC Government and BCFSA guidance for the current prescribed property types and exact fee amounts.

BC licensees can act for both a buyer and a seller in the same transaction only in limited circumstances governed by the Real Estate Services Act (RESA) and BCFSA Rules, including obtaining informed consent from both parties. The Disclosure of Representation in Trading Services is designed to disclose this potential conflict by explaining agency relationships and the circumstances under which a licensee might be in a dual or limited agency situation. BCFSA Rules impose strict conditions on how such arrangements must be disclosed and managed to protect all parties.

The obligation under the Real Estate Services Act (RESA) and BCFSA Rules to provide the Disclosure of Representation in Trading Services applies to trading services broadly, which encompasses both residential and commercial real estate transactions. The form must be reviewed with consumers at the outset of any interaction where trading services are being provided, regardless of whether the property is residential or commercial. The specific disclosures within the form may be adapted to the context of the transaction, but the core obligation to disclose the nature of representation applies across property types.

Failure to provide the Disclosure of Representation in Trading Services as required under the Real Estate Services Act (RESA) and BCFSA Rules constitutes a breach of a licensee's regulatory obligations and may result in disciplinary action by the BC Financial Services Authority (BCFSA). BCFSA has the authority to investigate complaints, impose conditions on a licence, suspend or cancel a licence, or impose administrative penalties depending on the severity and circumstances of the breach. Consumers who believe a licensee has failed to comply with disclosure obligations can file a complaint directly with BCFSA.

While the primary purpose of the Disclosure of Representation in Trading Services is to explain agency relationships, a licensee's collection and use of a consumer's personal information during the trading services process is governed separately by BC's Personal Information Protection Act (PIPA). PIPA requires licensees to collect personal information only for identified purposes, obtain consent, and protect that information appropriately. Consumers may receive a separate privacy notice or consent from the licensee's brokerage in addition to the trading services disclosure.

The content requirements for the Disclosure of Representation in Trading Services are set by the BC Financial Services Authority (BCFSA) under the Real Estate Services Act (RESA) and its Rules, and the BC Real Estate Association (BCREA) publishes a standard form that meets those requirements for use by its member boards. Licensees must ensure that any form used satisfies the disclosure requirements mandated by BCFSA Rules; using the BCREA-approved standard form is the common industry practice to achieve compliance. Licensees should refer to current BCFSA guidance and their managing broker to confirm that the version of the form they are using reflects the most current regulatory requirements.