RECA Residential Exam with Practice Questions and Expert Solutions

RECA Residential Exam with Practice Questions and Expert Solutions Fiduciary Representation ANSWER - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity ANSWER 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing ANSWER - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship made to clarify and provide proof of undertanding in event issues or disputes arise Written Service Agreement vs Customer Acknowledgement Forms ANSWER Written Service Agreement - when consumer chooses a representation relationship - becomes a client - provide signed copy to brokerage