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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Centre withdraws from cell tower project in Qualicum Beach

TELUS plans to continue to look at plans to improve cellphone reception in the area

Qualicum Beach council voices support for Ballenas track upgrade

Town still not ready to provide dollar amount without further information

Resident discovers five discarded hog heads in a ditch in Coombs

WARNING: Graphic image may be upsetting to some readers

RDN budget includes unexpected $1.5 million for sewer pipe replacement

Pipe corrosion at Departure Bay discovered in December

People tab ‘Roaring ’20s’ as theme for Parksville sand sculpting competition

‘Topsy Turvy’ and ‘Celebrate!’ also considered for 2020 beach festival event

VIDEO: B.C. senior recalls ‘crazy’ wartime decision to grab bear cub from den

Henry Martens – now 96 – says he was lucky to be alive after youthful decision to enter a bear’s den

Cheapest in B.C.: Penticton gas prices dip below $1 per litre

Two stores in Penticton have gas below a dollar.

UPDATE: Lockdown lifted at Nanaimo high school following threats

Nearby elementary school was in hold-and-secure

‘A horror show:’ Ex-employee shares experience at problematic Chilliwack seniors’ home

Workers are paid below industry standard at all Retirement Concepts facilities

Suspect steals seaplane, crashes into another in Vancouver habour

Police responded to the incident at 3:30 a.m. on Friday

Loans or gifts? Judge rules woman must pay B.C. man back $7K

B.C. judge rules that woman must pay back more than $7,000 in advanced funds to man

Shopping cart collector at B.C. Costco awarded $583,000 after getting pinned by car

Kurtis Ryan Burdeniuk, 22, was retrieving carts when a driver backed into him in the parking lot

Youth-led report calls on B.C. government to create plan to end youth homelessness

There are no dedicated programs for youth homelessness at federal, provincial level, report says

Trudeau: Time for blockades to end and Indigenous leaders to work with government

Prime minister says situation in Coastal GasLink pipeline dispute is ‘unacceptable and untenable’

Most Read