Member Update May 29, 2020
How COVID-19 disclosure forms help you manage risk today
To help you mitigate risk and manage liability, the BC Real Estate Association (BCREA) and the Canadian Real Estate Association (CREA) have each created a disclosure form for you to use during the pandemic.
While essential service workers like REALTORS® are protected by ministerial order against legal liability outside of gross negligence, these forms are available to bolster this protection.
“With the ministerial order, and some common sense, you should be protected,” said Ethics Guy® Kim Spencer. “These forms may not be required, but they’re available to support good risk management. If it were me, I’d use them.”
Here's a summary of these forms:
BC Real Estate Association (BCREA) Notice and Acknowledgement form
This form ensures your client is informed of the latest public health directives and understands what a Realtor can and can’t do during the pandemic. It also advises the client to seek independent legal advice to understand their obligations.
Canadian Real Estate Association (CREA) Coronavirus Statement and Consent form
This form covers COVID-19 transmission. It states that the client hasn’t travelled outside the country within 14 days and isn’t exhibiting COVID-19 symptoms. It also outlines their obligations if they test positive for COVID-19.
Some Realtors and brokerages have also produced their own forms similar to the ones above. While these forms all have a different focus, they all have a common purpose: risk management.
Ultimately, your managing broker is the one responsible for risk in your brokerage. Make sure to discuss these forms with your managing broker and follow their guidance.
Help your clients understand how to work with REALTORS® during phase two of BC's re-opening plan
We recently published an article on our website and via our social media channels to help the public understand the different tools, resources, and practices Realtors are using to help their clients meet their housing needs during the COVID-19 pandemic.
Click here to read the article and share with your clients and across your social media networks.
Our Expert Series kicks off with Mortgage Broker Angela Calla
We’ve created a new Expert Series to share different insight and knowledge with you from prominent figures across the real estate industry. Our first interview is with Mortgage Broker Angela Calla.
We asked Angela questions about changing mortgage options during COVID-19, advice Realtors should be offering their clients, how to avoid deals collapsing due to financing and more. Click here to read the article.
Stay tuned for more installments in this series in the weeks ahead.
May housing market stats coming on Tuesday
We’re releasing our monthly market report for May on Tuesday morning.
As always, we’ll be sending this report to all members and posting it on our Facebook page, REBGV.org, and Realtylink.org. Keep an eye on your inbox and share it with your clients.