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The BCREA Blog is a platform for sharing the latest education news, economics statistics, issues relating to the profession and links to valuable resources for REALTORS®, stakeholders and the public.

A Consumer’s Right to Choose

Published Jul 24, 2017

Explaining-idea-186023388_2122x1415The Office of the Superintendent of Real Estate could soon propose a ban on limited dual agency. Limited dual agency occurs when a real estate licensee acts in a limited capacity for both the buyer and the seller. This ban was recommended in June 2016 by the Independent Advisory Group, which examined real estate practice.

For more than a year, BCREA, real estate boards and REALTORS® have worked hard to explain the potential negative consequences of a complete ban.

 This comes down to the consumer’s right to choose. If the government completely bans limited dual agency, it’s saying that consumers aren’t capable of making their own decisions. Such a ban will prevent people from working with professionals they know and trust, and with professionals who have knowledge about specific types of real estate (like islands or resort properties) or specific areas of the province.

 Shouldn’t people who buy and sell real estate—who are already making large, important decisions—be able to choose for themselves who can represent their interests?

 To be clear, BCREA supports strong consumer protection and high standards of professional practice, and the vast majority of BC REALTORS® walk that walk every day. REALTORS®️ believe consumer protection is paramount. With full disclosure and independent professional advice, consumers can make informed choices in choosing their REALTORS®.

 For BCREA’s response to the IAG report, click here

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