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

Wolf Creek Schools raises Treaty 6 flag for first time

Chiefs, school officials took part in a ceremony that is aimed at acknowledging Treaty 6 land

Lacombe Generals looking to capture Allan Cup on home ice

Generals returning key veterans in hopes avenging last years finals loss

Unsightly properties upcoming focus for Bylaw Enforcement

Clean up of long-standing, problematic properties will begin on Sept. 21

City of Lacombe 2018-2021 Strategic Plan now available

The plan is the premiere planning document for achieving Council’s stated vision

Gord Bamford returns to Central Alberta on latest tour

Hocky Tonks and Dive Bars Tour coming to Bo’s in November

WATCH: AHS breaks ground on new Lacombe Community Health Centre

17,000 sq. ft. facility will bring existing Lacombe AHS services together

Update: Search called off for missing plane between Edmonton and Chilliwack

Search efforts were concentrated along the Highway 5 corridor between Valemount and Kamloops

Canada signs global pact to help rid world’s oceans of abandoned fishing gear

The federal Fisheries Minister says it’s a ‘critical issue’

GOP pushing forward for Kavanaugh, accuser wants ‘fairness’

Kavanaugh has denied al allegations of sexual misconduct

Rural Canada Post carriers could see 25-per-cent pay hike: spokesman

An arbitrator has released a ruling in a long-standing pay equity dispute at Canada Post

Freeland brings optimism back to NAFTA talks

NAFTA talks resume in Washington

Bradley Williams takes over as Westerner Park Interim CEO

CFR expected to go on as scheduled with no disruption

Despite protests, Russia’s anti-doping agency reinstated

On a 9-2 vote, the executive committee declared RUSADA as having satisfied conditions

The longest week: Carolinas worn out by Florence

Frustration and sheer exhaustion are building as thousands of people wait to go home seven days after the storm began battering the coast.

Most Read