Ban moves ahead in B.C. against same real estate agent for buyer and seller

New real estate consumer protection rules to take effect in March

Real estate agents will no longer be able to act on behalf of both buyers and sellers in B.C. as of next March, the province has announced.

The practice, known as dual agency, remains legal everywhere else in Canada.

The government proposed the new real estate consumer protection rules in September, sparking pushback from the B.C. Real Estate Association. President Jim Stewart say the regulations would limit choice for clients.

READ MORE: New rules would ban Realtors from representing both buyers and sellers

The province acknowledges that problem for buyers and sellers in remote communities, so have made an exemption for cases where “a particular property is so remote as to make finding another agent extremely difficult.”

Still, Stewart said clients who have forged a close relationship with their agents will lose out under the new regulations, as they’ll be prohibited from working with only agents they trust.

Other rules being brought in include requiring better disclosure of real estate licensee remuneration, and making sure consumers know their rights and warn them of the risks.

The new rules stem from recommendations issued in a report last year to the Real Estate Council of BC, which examined the framework for real estate in the province.

The report was prompted by allegations that some real estate agents were flipping homes multiple times before a deal closed, also known as “shadow flipping,” that drove up prices and commissions.

The report also found that a Realtor representing more than one party in the transaction of a property could hinder their ability and duty to act in the best interests of the client.

Just Posted

Boon Docs, life as a rural doctor tickles the funny bone

Haida Gwaii’s Caroline Shooner draws observations from the medical field

President and CEO leaving Coast Mountain College

Burt will say goodbye to CMNT come September

Marathon day on Haida Gwaii

Totem to Totem race looks to set another participation record

World’s largest animal spotted off coast of Haida Gwaii

Fisheries and Oceans Canada spotted the animal during their Science At-Sea mission

Two monumental poles return home to Haida Gwaii

The artifacts ended up in Vancouver by being taken, appropriated, stolen, or sold through the years

Rich the Vegan scoots across Canada for the animals

Rich Adams is riding his push scooter across Canada to bring awareness to the dog meat trade in Asia

Vancouver Island teens missing after vehicle found ablaze near Dease Lake, BC

RCMP say a body discovered nearby not one of the missing teens

A year later, ceremony commemorates victims of the Danforth shooting

It’s the one-year anniversary of when a man opened fire along the bustling street before shooting and killing himself

Japanese Canadians call on B.C. to go beyond mere apology for historic racism

The federal government apologized in 1988 for its racism against ‘enemy aliens’

B.C. VIEWS: NDP pushes ahead with Crown forest redistribution

This isn’t the time for a radical Indigenous rights agenda

Two dead in two-vehicle crash between Revelstoke and Golden

RCMP are investigating the cause of the crash

Ottawa fights planned class action against RCMP for bullying, intimidation

The current case is more general, applying to employees, including men, who worked for the RCMP

Alberta judge denies B.C.’s bid to block ‘Turn Off the Taps’ bill

He said the proper venue for the disagreement is Federal Court

Most Read