Quote:
Originally Posted by taxbuster
The double-ending realtor is a problem for both buyer and seller - neither can be certain that they are getting truly independent advice. Doesn't matter what the fees are --- if, as a seller, you're giving away money on the sale or as a buyer you're paying too much..the fee is the least of your problems. The lawyer's job is different...that is to make sure that title is clear and properly transferred -- nothing to do with pricing.
As a tax pro I have occasionally acted for both buyer and seller ...and I advise them together, at the same time and never individually, so both hear the same issues from the same person at the same time. Realtors (mostly) don't do that.
Where we live (rural BC) there's no double-ending (AFAIK) anyway, and I just sold a condo in Calgary where my long-time realtor acted for me, at a somewhat discounted rate. But I got my asking price, plus...so I appreciated the independent advice.
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Double ending in BC was halted in 2018 with the exception of small communities that are undeserved with agents and it may be more necessary for the few agents to double end.
I agree it's a natural conflict of interest and getting rid of it was the right move.