New Ban on Limited Dual Agency for Realtors

A new dual agency ban for realtors comes into effect across the province today.

The ban will prevent realtors from acting for the buyer and seller of a property, and aims to avoid conflicts of interest when the agent is working on behalf of their client.  Along with the ban comes some other new regulations for realtors to follow which include being more transparent about how much commission they make on a transaction.  

David Black with Royal Lepage says the new ban takes away the choice of the comsumer.  BC is the only province to institute the ban on dual agency,  which is used in roughly 5 percent of real estate transactions.