Real estate brokerage means choosing sides. Recent Ontario legislative changes affecting Real Estate Brokerage makes it mandatory for brokers and agents to declare exactly where they stand in respect to the public they serve. when a Broker works with you, it is important to know exactly whether that individual is working for you or someone else in your transaction.
There now exists a veritable mine field for Brokers who wear too many hats in a single transaction. A classic example is a large firm with many listings and even more salespeople. If you happen to be working with a Buyer’s agent and that salesperson finds you a property you like, you need to know that if it’s one of the same brokerage’s listings, its simply impossible for your interests to be upheld at the same time your broker upholds the Seller’s interests.
It is for this reason, if you are a Buyer, you are best served by a Buyer’s agent who works for a brokerage that does not represent the seller at all. For Brokers, the problem is the same. How can they legitimately work in the best interests of two parties who necessarily have conflicting interests?
This is why Approved Realty Ltd. works primarily as a Vendor’s agent. If you have property to sell, you can be sure we won’t also be working for the buyer at the same time. And when you to sell, and wish to buy something else, you will be sure we will not act for you in any negotiation involving a property where we are working for the Seller. It is simple common sense.
Finally, the very reason why we are determined to remain a small, professional brokerage is simply to avoid these pitfalls. Its just our way of choosing sides. We thought you may like to know.