Terms, Ch 2 - Real Estate Trading Services - UBC Sauder

Question 1

RESA

Answer 1

• The Real Estate Services Act
• Replaced the Real Estate Act in 2005
• Imposes licensing requirements on persons who provide real estate trading services (RETS), rental property management services and strata management services

Question 2

REDMA

Answer 2

• Real Estate Develpoment Marketing Act
• Replaced the the Real Estate Act in 2005
• imposes requirements related to marketing on developers who sell various forms of real estate developments, such as strata lots, cooperatives, time shares and shared interests.