Proposed Ban on Dual Agency

 

Real Estate Board of Greater Vancouver issues statement on proposed ban on dual agency

VANCOUVER, B.C. — September 7, 2017 — The BC government’s Office of the Superintendent of Real Estate announced proposed changes today to ban the practice of limited dual agency for all real estate licensees in the province.

Real Estate Board of Greater Vancouver President Jill Oudil issued the following statement on today’s announcement:

“REALTORS® support their clients and back changes that improve transparency in the real estate transaction. The new disclosure requirements proposed by the superintendent will enhance the public’s understanding of the real estate transaction in BC. We support this aspect of the measures announced today. Where the proposed changes fall short are in respect to consumer choice.”

“We believe in informing the home buying and selling public and empowering them to choose who they want to represent them in a transaction. We’re encouraged to see that government recognizes circumstances where exemptions to the ban on limited dual agency are necessary. We believe there are other circumstances where consumers should have the choice to consent to limited dual agency where they can demonstrate that their consent is informed. For example, people who’ve built a longstanding relationship with a Realtor shouldn’t be forced to find alternative representation against their wishes. We’ll continue to stress this point with government.”

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