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Prohibited
- In British Columbia, dual agency is prohibited, but there is an exemption that real estate professionals can use in certain situations.
www.bcfsa.ca/industry-resources/real-estate-professional-resources/knowledge-base/guidelines/use-dual-agency-exemption
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May 7, 2020 · In British Columbia, dual agency is prohibited, but there is an exemption that real estate professionals can use in certain situations.
DUAL AGENCY NOT ALLOWED IN BC IN MOST CASES Because dual agency presents significant risks to consumers, it is not permitted in BC except in certain circumstances. A real estate professional may only provide dual agency to you when the property you wish to buy or sell (or rent or lease) is in a remote location that is under-
Nov 2, 2022 · The Disclosure of Risks Associated with Dual Agency is just a disclosure and not a contract. You need to enter into a Dual Agency agreement with your clients and brokerage.
Ultimately, the council has made it clear that dual agency is banned – and that there is no way of getting around dual agency in a market like Vancouver. Understanding What It Means to be an Unrepresented Party.
Dec 20, 2008 · While courts in other jurisdictions have considered the existence of the limited dual agency relationship to impose an even higher duty on the REALTOR® acting for both parties in the transaction, BC courts recognize the duty of care owed by a REALTOR® in that relationship is limited.
Oct 4, 2014 · Despite being fraught with risk, licensees continue to practice limited dual agency. While BC courts have recognized the modifications to the agency relationship agreed to by buyers and sellers who have entered a Limited Dual Agency Agreement, a licensee failing to document the parties’ informed written consent to limited dual agency prior to ...
May 17, 2023 · “Limited dual agency was abolished in British Columbia about three years ago. The new rules make it very clear when you have a team, the entire team’s fiduciary responsibility is as if it’s one person,” says Ash.
