Real estate agents in B.C. say they are not ready and may risk significant financial penalties when new rules are implemented prohibiting “dual agency,” the practice where an agent represents both a buyer and a seller.
Starting June 15, according to rules posted by the B.C. Real Estate Council, agents are prohibited from representing both the buyer and seller in a transaction in almost all circumstances. The regulations, announced last November by B.C.’s Office of the Superintendent of Real Estate, require listing agents to present a disclosure form to every unrepresented potential buyer who asks for advice. Even answering even simple questions about real estate could be seen as acting as someone’s agent. [기사 전문 ↓]