New Realtor Rules

[Bsuds]

I foolishly allowed our home to be sold for us by a realtor whose partner represented the buyers. I trusted her and it cost us about 150k.

This type of thing is exactly why the rules are being put in place.
If there weren't so many unscrupulous realtors then we wouldn't need these rules.

[rustled]

Instead of holding unscrupulous realtors to account, come up with a bunch of rules that make it more difficult for everyone.

What happens now if you stop by at an open house? Think the realtor on location can talk to you about it?

[flamingfingers]

What happens now if you stop by at an open house? Think the realtor on location can talk to you about it?

Of course they can talk to me about it. Why not?

[jimmy4321]

If there's any real issue, a good lawyer is what you will need. you need one regardless
Whenever possible i avoid realtors.

[rustled]

What happens now if you stop by at an open house? Think the realtor on location can talk to you about it?

Of course they can talk to me about it. Why not?

I'm asking because I was talking to a realtor a few months ago about the changes, and was told this would be one of the problems in the new rules: you'd first have to get an agent who'd then talk to the seller's agent on your behalf. It was that realtor's understanding that if they talked to you about the home they were showing, they would be violating the new rules against dual agency.

I hope this was one of the changes in the proposed rules before they went into effect.

Was it?

[flamingfingers]

I think that was a misinterpretation for whatever reason. AS a buyer, you do not have to have a realtor to represent you and dicker a deal for you; however, a lawyer versed in real estate transactions/conveyancing I would say is to your own very best interests.

I can find nothing here that alludes to the realtor's claim:

https://knowledge.recbc.ca/resource/rea ... ne-15-2018

[my5cents]

Of course they can talk to me about it. Why not?

From an FAQ from the RECBC (Real Estate Council of BC)
A selling realtor (my words) should carefully consider whether they have created an implied agency relationship with the buyer.

In the time they have been dealing with the buyer as an unrepresented party, have they provided the buyer with advice, received confidential information, or otherwise dealt with the buyer in a manner that could reasonably have led the buyer to believe he is their client?

If they are in an implied agency relationship with the buyer, then they cannot assist the buyer in purchasing the seller client’s property because doing so would amount to dual agency, which is prohibited. Under Rule 5-18, it may be resolved in one of two ways:

- Stop representing both
- Continue representing only one of the clients provided both buyer and seller agree in an approved Council form.

So I guess a very shallow conversation, hoping the buyer doesn't blurt out something that could later be construed as confidential information.

Like any new regulation it will take time for the interpretations to be applied to real life.

[Bsuds]

I'm curious haw this will affect open houses. Does that mean a realto cannot talk to anyone looking at an open house unless they have their own realtor with them or do they just sit there and stay mute? That would be impossible for most of the ones I Know!

[Bsuds]

Maybe there is a job opportunity here. Offer to sit at open houses for the realtor and provide info to the looky loos.

Good job for us retired ol faarts.

[alanjh595]

Maybe there is a job opportunity here. Offer to sit at open houses for the realtor and provide info to the looky loos.

Good job for us retired ol faarts.

MAYBE......if they are paid a commission based upon the sale of the house.

[Bsuds]

15$ an hour to sit and BS with people works for me.

We get diddly poop doing the same thing on here.

[alanjh595]

15$ an hour to sit and BS with people works for me.

We get diddly poop doing the same thing on here.

You could offer the "premium package" by parking your RV in front of any other houses for sale on the same block.