When it comes to transparency in real estate, the Saskatchewan Real Estate Commission (SREC) requires strict adherence to the rules—especially when a licensed real estate professional is personally involved in a transaction. That’s where the Disclosure of Interest in Trade form (Form #802) comes in.

Let’s break down what this form is, why it matters, and what buyers and sellers need to know.

What Is the Disclosure of Interest in Trade?

The Disclosure of Interest in Trade is a mandatory form required under The Real Estate Act of Saskatchewan when a registered agent is involved in a transaction either directly or through an associate or immediate family member. This form must be provided before any agreement is entered for the acquisition, disposition, lease, or rental of a property.

Why Is Disclosure Required?

This disclosure ensures transparency and protects all parties in the transaction. It prevents potential conflicts of interest and ensures that no party is misled about the involvement of a real estate registrant who may have inside knowledge or financial interest in the property.

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12 Key Points About Disclosure of Interest in Trade:

1. Mandatory Under Law
   Required by The Real Estate Act when a registrant or their associate/family member is involved in a transaction.

2. Covers Buyer, Seller, or Tenant Scenarios
   Disclosure applies to all parties regardless of their role in the transaction.

3. Registrant's Own Interest Must Be Declared
   Agents must disclose if they are buying or selling real estate for themselves.

4. Disclosure Extends to Associates and Family
   Includes spouses, children, siblings, parents, and business associates.

5. Applies to All Property Trades
   Includes purchases, sales, rentals, leases, and subletting arrangements.

6. Must Be Presented Before an Agreement Is Made
   Timing is critical—this disclosure must come before any contract is signed.

7. Resale Intent Must Be Disclosed
   If the intent is to quickly resell the property, this must be clearly stated.

8. Rental and Sublet Plans Must Be Declared
   Includes any intent to sublet if the property is leased.

9. Commission Details Must Be Disclosed
   Any commission payable to the agent’s brokerage must be declared.

10. Insurance Limitations Apply
    Errors and omissions insurance does not cover agents trading in their own or their spouse’s real estate.

11. Form Requires Signatures and Acknowledgment
    All parties must sign to confirm they’ve received and understood the disclosure.

12. Independent Advice Is Encouraged
    Buyers and sellers are advised to seek independent legal or appraisal advice.

FAQs

What is the Disclosure of Interest in Trade?

It’s a form required in Saskatchewan when a real estate agent, their associate, or family member is involved in a transaction.

When is disclosure required?

Before any agreement is signed for buying, selling, leasing, or renting real estate where a registrant has an interest.

Why does the disclosure mention insurance exclusions?

Because errors and omissions insurance does not cover agents trading in their own or their spouse’s property.

What should buyers or sellers do if they receive a disclosure?

Review the disclosure carefully and consider getting independent advice on the fair market value and terms.