July 8, 2016
A Limited Dual Agency agreement is designed to protect clients who are both the seller and the buyer. In this scenario, the Real Estate agent sells the clients’ home and helps them buy a new one. The agreement works well when clients are represented by an ethical realtor who puts the needs of the client first.
Unfortunately, not all realtors are created equal and some will use the Dual Agency Agreement for monetary gain above and beyond what is deemed professional. Measures to correct this kind of abuse are needed. However, the realtors who abuse Limited Dual Agency agreements are in the minority. The sweeping changes proposed by Premier Christy Clark to remove self-regulation from the Real Estate Industry in BC, while aimed at correcting infractions performed by the minority, will affect the majority.
It is important to have the right information. Clients can protect themselves by asking questions to determine if a particular realtor and real estate firm is right for them.
Find out how here.