Tuesday, June 5, 2012

The change to "Designated Agency"

Effective June 1st Designated Agency became the provincial industry standard.

So what does that mean to you as a Buyer or Seller?

On Gabriola, with Coast Realty Group (Gabriola Village) Ltd. being the only physical office on the island, and our relatively small geographical area, two teams and a selling managing broker, when the office lists & sells a property there will be many times we will continue to be in a Limited Dual Agency as before, where the brokerage represents two parties impartially.

However, when there has been no previously agency relationship, & depending on circumstances we may also see where your individual agent is designated to work for you, instead of how it previously was as the brokerage being your agent. We have a new “Working with a REALTOR form” which helps outline our duties and obligations.

No comments:

Post a Comment