Ban on Dual Agency BC

On June 15th, 2018 the ban on dual agency just came into effect in BC.

Here is a post I wrote about how the new rules will change the way I do business on Salt Spring New Rules for BC Real Estate

As a continuation of the New Rules post, what happens if we are driving around on Salt Spring and you want to see one of my listings? What about the ban on Dual Agency?  Disclosure-of-Risks-Associated-with-Dual-Agency

Can I show you one of my listings? Yes because as mentioned in the prior post we will be in no agency you will be an unrepresented party because you and I have both signed this Disclosure-of-Risks-to-Unrepresented-Parties

Can I tell you about any personal information about the sellers? No
Can I tell you about the bottom price the seller will take? No
Can I tell you about the zoning? Yes
Can I tell you about when the home was built? Yes
Can I tell you about the size of the home? Yes
Can I tell the seller about your motivation to buy? No, because you’re not going to tell me this!!!!

What happens if you want to write an offer on my listing.  I would refer you to another agent.  Someone like June Simmons from One Percent Realty.  She could write up the offer for you after you have signed a Disclosure-of-Representation-in-Trading-Services  agreement and she would be your Realtor®.

I hope this help, please let me know in the comments below.

Cheers Scott Simmons

 

 

Comments

  1. Scott Livingstone says:

    Scott, good information being provided on this site thank you…my question…can I, as an unrepresented party prepare and make an offer to purchase without being represented by an agent?, perhaps this is not a wise thing to do, but is it within the law? in making such an offer i would still retain the services of a lawyer…and how would the commissions work in a case where the buyer is not represented by an agent?

    • Hi Scott yes an unrepresented party can write an offer with a Realtor. The Realtor who wrote the offer for the unrepresented party would get the commission. or are you asking can one just write their own offer? One could but it would be hard for most to write a legally binding contract unless one used their lawyers to do it. Cheers Scott

Speak Your Mind

*