WHEREAS
Section 12(a) of the Real Estate Act, confirms the Real Estate Council of Alberta (the “Council”) has the authority to make rules prescribing or adopting standards of conduct and business standards for industry members;
And WHEREAS section 12(d) of the Real Estate Act, confirms the Council has the authority to make rules requiring the use of standard forms for matters related to the industry and prescribing or providing for the establishment of those forms.
Council passed a motion on October 23, 2013 amending the mandatory content of the Real Estate Council of Alberta’s forms in section 60.1 and Schedule 1 of the Real Estate Act Rules and mandated the use of the Consumer Relationships Guide for industry members trading in residential real estate effective February 4, 2014.
THEREFORE BE IT RESOLVED THAT:
The Rules will be amended as follows:
1. By amending section 60.1(1) to read:
Subject to the Rules:
a) The content of the Real Estate Council of Alberta forms contained in Schedule 1 is mandatory for use when industry members trade in residential real estate effective February 4, 2014.
b) The Consumer Relationship Guide of the Real Estate Council of Alberta contained in Schedule 1 is mandatory for use when industry members trade in residential real estate.
2. By amending section 60.1(2) to read:60.1(2) If industry members use forms with different content than those set out in section A of Schedule 1, the forms used must contain the mandatory content set out in Schedule 1 which mandatory content must not be directly or indirectly altered by the industry member.
3. By amending Schedule 1 to read:
Schedule 1 – Real Estate Council of Alberta Forms and Consumer Relationships Guide
A. The content of the following forms referred to in section 60.1 of the Rules has been approved by Council and is mandatory for industry members when industry members trade in residential real estate:
A.1 The Consumer Relationships Guide referred to in section 60.1 of the Rules has been approved by Council and this form is mandatory for industry members trading in residential real estate. The content must not be altered by the industry member.
B. Notwithstanding the above requirement, the members of the REALTORS® Association of Lloydminster and District may use the content of the forms and guide as modified and approved from time to time by the Real Estate Council of Alberta.
The content of the following forms and guide referred to in section 60.1 of the Rules has been approved by Council and may be used by members of the REALTORS® Association of Lloydminster and District when such industry members trade in residential real estate:
