A buyer, Mr. Chen, contacts Realtor Michael regarding a property listed by another Realtor, Lisa. Mr. Chen expresses interest and wants to make an offer. What must Michael do before assisting Mr. Chen beyond providing general information?

Question: A buyer, Mr. Chen, contacts Realtor Michael regarding a property listed by another Realtor, Lisa. Mr. Chen expresses interest and wants to make an offer. What must Michael do before assisting Mr. Chen beyond providing general information?

Answer options: ✅ Michael must ensure Mr. Chen completes the 'Disclosure of Representation in Trading Services' form, confirming Michael is his designated agent.

• Michael must obtain a signed 'Disclosure of Risks to Unrepresented Parties' form from Mr. Chen.
• Michael must disclose to Lisa that he is working with a buyer who will be making an offer.
• Michael must verify Mr. Chen's financial pre-approval for the purchase before preparing an offer.

Correct answer: Michael must ensure Mr. Chen completes the 'Disclosure of Representation in Trading Services' form, confirming Michael is his designated agent.

Explanation: Under the Real Estate Services Act and BCFSA Rules, a licensee must provide the 'Disclosure of Representation in Trading Services' form to a party at the earliest practicable opportunity and before providing any trading services to that party, clarifying the nature of the representation.