Real Estate Council of Alberta Fundamentals Practice Exam

What is one of the services provided by RECA?

1. Setting rental rates

2. Providing remediation for disputes

3. Issuing authorization to trade in real estate

4. Conducting real estate training

The correct answer is: Issuing authorization to trade in real estate

The service of issuing authorization to trade in real estate is a fundamental function of the Real Estate Council of Alberta (RECA). This authorization is a critical aspect of regulating the industry to ensure that all individuals and businesses engaged in real estate transactions are qualified and adhere to the professional standards set forth by the council. By issuing licenses, RECA helps maintain public confidence in real estate professionals, ensuring that they not only meet educational and ethical standards but also comply with the law when conducting real estate activities. This regulatory oversight is essential for protecting consumers and maintaining the integrity of the real estate market in Alberta. While the council may provide other services like training, resolving disputes, and offering guidance on rental practices, the central role of regulating who is allowed to trade in real estate directly emphasizes RECA's commitment to ensuring that only qualified professionals operate in the marketplace. This licensing process is a cornerstone of the council's responsibilities and supports the overall goal of fostering a safe and fair real estate environment.