The mandatory disclosure notice that must be presented to prospective buyers and sellers is known as the __________.

The correct answer is the IABS, which stands for Information About Brokerage Services. This document is crucial in real estate transactions as it provides prospective buyers and sellers with important information regarding the nature of the agency relationship they can expect when working with a real estate professional. This disclosure helps to clarify the duties and responsibilities of the broker toward the clients and the customers.

The IABS ensures that consumers are aware of their rights and the services being offered, promoting transparency in the real estate process. It must be presented at the beginning of a brokerage relationship, making it a mandatory disclosure in many jurisdictions.

The other choices do not represent the required disclosure notice. The MLS, or Multiple Listing Service, is a tool used by real estate professionals to share property listings. CEST does not refer to any commonly recognized real estate disclosure, and RECA, which stands for Real Estate Council of Alberta, relates to the regulatory body for real estate in Alberta but does not serve as a mandatory disclosure notice. Thus, IABS is the established and required notice that should be provided.