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

Wet’suwet’en clan launches civil lawsuit against Coastal GasLink

Gidimt’en seeking damages and costs over destruction of logging road encampment and gate

“Does Kirby care?” Heiltsuk Nation using geo-targeted ads in Houston, Texas for justice

The Heiltsuk Tribal Council has called out Kirby Corporation for the Nathan E. Stewart oil spill

“No excuse” for killing of two young grizzly cubs

Reader hopeful someone will come forward with information

UPDATE: U.S. firm fined $2.9M for fuel spill that soiled B.C. First Nation territory

The Nathan E. Stewart spilled 110,000 litres of diesel and heavy oils in October 2016

VIDEO: Missing teens named as suspects in three northern B.C. killings

Kam McLeod and Bryer Schmegelsky are wanted in the deaths of Lucas Fowler, Chynna Deese, unknown man

B.C. teacher suspended for professional misconduct

Grade 8 shop teacher admits to use of vulgar language and profanities toward students

Northern B.C. double homicide, suspicious death: A timeline of what we know

Two teens from Port Alberni are now wanted Canada-wide in connection to the three deaths

B.C. wine industry legend Harry McWatters dies

Among his accomplishments, McWatters founded the province’s first estate winery, Sumac Ridge Estate

Provincial health body refuses to release full findings of cancer triage system audit

Information and Privacy Commissioner asked to review redactions

Southern resident killer whale died of blunt trauma, likely from ship

J34 was found more than two years ago near Sechelt, but the necropsy findings have now been released

B.C. rail crossing death highlights risks for people in wheelchairs: watchdog

Transportation Safety Board points to ‘persistent risks faced by persons using assistive devices’

B.C. teens wanted in double homicide, suspicious death spotted in Manitoba

Kam McLeod and Bryer Schmegelsky were thought to have been seen in the Gillam area

Memorial bench painted by Vancouver woman to stay in park for now

Park board to look at options for artistic enhancements on commemorative benches

Most Read