Contact
  • Categories
  • The Referred to Law Firm

    Categories

    Proposed real estate law changes may stop double ending

    In Ontario, it is not uncommon to find that the same real estate agent represent both the buyer as well as the owner of a property. This is called double ending and requires both the buyer and seller to agree to work with one real estate agent. However, the government has recently proposed several changes to its housing laws, one of which is to prohibit double ending.

    If the proposal is passed, a real estate agent will be barred from representing the buyer and seller. Exceptions may exist when the deal is a private transaction between family members or if the location is in a rural area with limited realtors. Reportedly, consumers have complained that the practice of representing both sides may lead to agents accepting unethical financial incentives.

    It appears inconceivable that one agent can protect the rights and act in the best interests of two opposing parties. The buyer will require a commitment from the agent to negotiate the lowest price at the most advantageous terms, and the seller will expect the same agent to secure the highest bid at the best terms. Authorities believe this creates divided loyalty that cannot benefit either the buyer or the seller.

    The act of selling or buying a home is one of the major moments in any Ontario resident’s life. At this time, the best step might be to consult with an experienced real estate lawyer who will ask and answer questions to establish the unique needs of the buyer or seller to enable him or her to address potential issues. A lawyer can provide guidance and support with every step of the way and focus on ensuring that the client’s interests are protected.

    The content on this website is for information purposes only and is not legal advice, which cannot be given without knowing the facts of a specific situation. You should never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. The use of the website does not establish a solicitor and client relationship. If you would like to discuss your specific legal needs with us, please contact our office at 613-563-7544 and one of our lawyers will be happy to assist you.

    Posted By: Merovitz Potechin

    Merovitz Potechin LLP has been serving the business and personal needs of the Ottawa area since 1976. Our lawyers will work directly with you throughout your legal matter.

    We are committed to asking the right questions so you obtain the best advice. We are responsive to your needs, and you can trust that we will give you the care and attention you deserve.

    [...]