recently aired a program on TV showing hidden camera footage of real estate professionals in Ontario breaking the rules while representing their seller clients to potential buyers. Representing both the Seller and Buyer in a real estate transaction is called Multiple Representation
, or 'double ending' a deal. This practice is common, and can be done ethically and legally....but it's not easy!
Many buyers end up at a property after calling the listing Realtor from realtor.ca or other advertising. If those buyers are not working with another real estate agent (sales representative), they will most certainly be asked by the listing agent if he/she/they would like to be represented by the listing agent. Often, those buyers don't buy that specific property, and the 'listing' agent can show them other agent's listings, and help them make offers and purchase other property. The problems can arise if the same agent is representing BOTH the seller, and buyer.
Much of my work in Muskoka and cottage country is work for clients as a Buyer agent. I help them find suitable properties, arrange to see them at times that fit my client's busy schedule, offer local expertise regarding regions, lakes, schools, work opportunities, and sometimes insight into the Seller's agent strategies and practices. I work for the Buyer exclusively, I'm on their team. This is harder to do if my Buyer is trying to buy my Seller's property. I'm effectively on both teams, and become a arbitrator instead of an advocate. My hands become tied, as far as the amount of information I can divulge to my Buyer about the Seller.
Consider contracting me to be your Buyer Agent and have me working 100% for your interests. There is no financial cost to you, as all commissions are paid by the Seller, and split between the agents involved. You will get undivided attention and service with your own Buyer's agent, see more properties, and won't have to worry about their loyalty in negotiations.
For the Marketplace episode click here