Chapter 3 Saskatchewan's Real Estate Act

According to The Real Estate Act of Saskatchewan, what is the key distinction between a 'person' and an 'individual'?

Under The Real Estate Act of Saskatchewan, if a registrant fails to comply with Section 58 in bad faith concerning offers to purchase, what is the direct consequence?

What is the effect of a registrant's participation in a fraudulent cash back scheme?

What conditions must be met for a registrant to trade real estate through a brokerage that is different from the one named on their Certificate of Registration, regarding a property they personally own or intend to purchase?

What is the significance of REIX's status as a self-insured program with regards to program management and objectives?

A real estate salesperson who is also a licensed auctioneer wants to auction a property. What condition applies to acting as both to be in compliance with The Real Estate Act?

When must a brokerage provide a copy of the 'Notice to Remove Condition(s) on Residential Contract of Purchase and Sale' form to all parties involved in the transaction, and what is the implication of this action?

What does it mean for a brokerage to enter into an agreement with a client that its commission will be collected as a percentage of the sale price?

How does the Real Estate Act of Saskatchewan define 'fraud' or 'fraudulent,' and what implications does this have for registrants?

According to the regulations, what information must a registrant include in writing to all parties before accepting compensation from more than one party in a transaction?

In which situation would REIX most likely deny a claim?

A registrant is found to have made a statement, whether orally or otherwise, that contains either an untrue statement of material fact or omits to state a material fact. Which bylaw has the registrant violated?

What action should you take if you receive a Statement of Claim?

What factors does the Commission consider when determining the adequacy of supervision of registrants and other personnel by a broker or branch manager?

How does REIX handle a situation where a registrant does not agree that the matter should be settled?

What is the appropriate course of action if a registrant is unsure whether an activity is exempt under The Real Estate Act or the Regulations?

Under Bylaw 713, what must a registrant do if they trade in real estate as a part-time registrant?

Bylaw 728 concerns signs that designate a property as being on the market. According to Bylaw 728, under what conditions can a property sign be placed on the property?

For what is a broker primarily responsible when supervising a branch manager registered with the brokerage?

Under what condition can a registrant provide their opinion on a property's value if they already have or are thinking about obtaining an interest in that property?

Which statement best aligns with the registrant's responsibilities regarding advertising, according to Bylaw 726?

In the Saskatchewan context, what best describes the process for an individual to appeal a decision made by the Real Estate Commission?

Which of the following activities would be considered trading in real estate, according to Section 2(bb) of The Real Estate Act?

What should a registrant do regarding a Power-of-Attorney?

Jane, a registrant, is approached by a potential client actively listed with another brokerage. Jane knows soliciting this client directly violates Bylaw 707, yet subtly suggests dissatisfaction with the current brokerage. What legislative principle does this scenario MOST directly contravene?

A registrant includes information from an unverified source in marketing materials without clear attribution. This error causes economic harm to a prospective buyer due to overestimation of property value. Which bylaw is the registrant MOST directly violating, and what broader regulatory standard is implicated?

An associate broker, seeking additional income, independently manages a close friend's rental property, collecting fees without informing the brokerage. This contravenes multiple sections of The Real Estate Act and Commission Bylaws. Which combination of violations is MOST pertinent?

A registrant uses a private corporation to receive commissions. While allowable, the registrant does not declare interests to all involved parties causing concerns regarding transparency. Which regulatory obligation are they failing to comply with?

A branch manager, tasked with supervising registrants, delegates essential supervisory duties without verifying if the delegate possesses adequate experience. If fraudulent transactions then occur, which regulatory standard related to oversight has the branch manager MOST directly violated?

In a dual agency scenario in Saskatchewan, what MUST occur regarding knowledge and consent pertaining to specific information?

A brokerage implements stringent policies to minimize REIX claims, including mandatory training modules exceeding regulatory demands. Despite these efforts, a fraud claim emerges. In assessing supervisory adequacy, what determinant would the Commission emphasize MOST?

During a marketing presentation to secure a listing, a registrant expresses concerns about a property's structural integrity without any professional verification. What is the MOST appropriate course of action under Bylaw 701?

A registrant, while assisting with a client's property purchase, discovers undisclosed environmental violations potentially decreasing the property's value. Understanding fiduciary responsibilities, what action aligns BEST with these duties?

Under what specific circumstance is a registrant MOST justified in sharing confidential information about a client with their supervising broker without explicit client consent?

A registrant is delegating responsibilities to an unlicensed assistant. With respect to trust monies which activities are allowed?

What is the MOST critical factor in determining whether a registrant’s action constitutes 'professional misconduct' under Section 39(1) of The Real Estate Act?

A registrant has had a prior complaint of misrepresentation that was later dropped due to its unsubstantiated nature. Then, a subsequent, factually distinct complaint arises. How does the existence of the first complaint impact evaluation?

To ensure the Real Estate Assurance Fund (REAF) retains adequate financial capacity, what actions MUST the Saskatchewan Real Estate Commission undertake if claims significantly deplete its reserves?

Where a registrant is considering purchasing a property they are marketing, what disclosure specifics are MOST crucial prior to accepting an offer, even if the client is fully informed and agreeable?

If a registrant is uncertain whether a contemplated action violates regulations, what recourse should they pursue to uphold fiduciary responsibilities and ensure regulatory compliance?

Given their importance for accuracy, who bears ultimate liability if an error appears on advertisement after broker approval?

A registrant operating a registered brokerage wants to start a separate property management company. With specific regard to The Real Estate Act, what conduct would violate REAF policies?

If formal hearing discovers that the registrant made serious infractions, and a resolution is not reached, what influence does this pose to potential insurance.

A prospective buyer cannot procure financing. Which action MUST the registrant take to avoid potential infractions concerning offers after consulting with each client?

If a registrant markets that he is a niche expert with top 3% of realtors, his success may be based on what factors that would violate REIX?

Upon discovering trust fund irregularities at a brokerage, which action from a Compliance Review Officer would DIRECTLY protect consumers?

When must information about compensation/fee agreements between a brokerage and its clients actually be documented to conform with Subsection 60(1) and Bylaw 721?

Within an exclusive agency agreement, when can the seller choose not to work or allow other agencies to see his home?

To what extent can registrants engage in self-promotion and marketing tactics, if any?

Before acting on real property, what must action must be used to get permission to start in accordance of Bylaw 714?

What is one factor that is viewed into if there is a conflict with REIX claim.

A seller expresses reservations about some items on an offer. What responsibility MOST explicitly falls on agent?

As per the regulations that were described.

What must a branch manager be able to do.

What must an advisor make.

Why does REIT are related?

As a licensee, they act to be an expert in

Regarding conduct what is most true.

How does the commission determine which order if some issue occurs?