By now you’ve likely heard that there have been some MAJOR changes in the real estate industry here in BC.
On June 15th, 2018 new real estate rules took effect that will change the way REALTORS® and their clients work together.
Specifically, the new rules will prohibit the practice of limited dual agency and require real estate licensees in BC to provide additional information to their clients about how they’re compensated.
The move to a single agency is a significant change from the practice over the years when Realtors could represent both sellers and buyers in a transaction. BC is the first Canadian province to implement rules that require Realtors to act only for one party.
These changes have been put into effect to protect you as the real estate consumer so that you can be confident that you are receiving clear information to help you make informed decisions, and getting the representation you need to navigate real estate transactions.
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