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Revised disclosure forms to be released next week

 

Revised disclosure forms to be released next week

 

September 27, 2019, Vancouver, BC 

On Monday, September 30, RECBC will release streamlined, updated versions of mandatory consumer disclosure forms online. The revised forms have been developed following consultations and testing with stakeholders, including real estate professionals and members of the public. Changes to the forms are designed to make disclosures about the services to expect from real estate professionals easier to use and clearer for real estate consumers.

Whats Changing?
Shorter forms: the revised forms will be reduced in length so that consumers can quickly review the information they need in order to make decisions
Clearer Information: we’ve eliminated some technical language, making the disclosures easier to understand
Disclosures are not Contracts: each revised disclosure form will include a statement to let consumers know that the form is not a contract. By initialling the form they are simply acknowledging that they received the disclosure.
New Toolkits for Real Estate Professionals: to learn more about the changes to the forms, interactive, mobile-friendly toolkits will be available on the RECBC website on September 30, and more resources will be launched throughout the fall.

Transition Period
There will be a three-month transition period, from September 30 to December 31, 2019, during which real estate licensees may use either the original or the revised versions of the forms to make the mandatory disclosures to consumers. After December 31, 2019 the revised versions of the forms must be used exclusively.