Final answer:
Under RECAD regulations, a licensee must present to the property owner all offers, counteroffers, and addenda to maintain full transparency and fulfill their fiduciary duty.
Step-by-step explanation:
Under the Real Estate Council of Alberta (RECAD) regulations, a licensee who agrees to list a property must, at minimum, present to the owner all offers, counteroffers, and addenda. This ensures full transparency and allows property owners to consider all potential deals for the property they are selling. The duty to present all offers to the seller is part of the licensee's fiduciary obligations, meaning they must act in the best interest of their client, the property owner.