Erik A.Vail Broker
Royal LePage / JOHNSTON & DANIEL DIVISION Brokerage
477 MT. Pleasant Road, Toronto ON, M4S 2L9
Direct: 416.482.8330 x8211
Gairdner Award ~ Diamond Award ~ Award of Excellence
As a Customer the buyer can expect to be treated fairly and honestly. It is important for the buyer to realize that under such a relationship the REALTOR® is technically a sub-agent of the seller so that duties are owed to that seller. However, the buyer can expect the REALTOR® to disclose all pertinent information about a property, not to misrepresent any facts, and to honestly answer all questions about the property. Under such relationship with the buyer, the REALTOR® must not must not imply that they shall negotiate a price for the buyer as that would be a direct conflict with the REALTORs® sub-agency relationship with the seller and a violation of our rules and regulations.
A seller must understand that a REALTOR® working with a buyer as a sub-agent is ultimately working with the sellers best interest in mind. A REALTOR® working with a buyer, as a Buyer Agent, is working for the buyers best interest mind, but may still be compensated by the seller through provisions made to the Listing Agent.
Occasionally a real estate company will be the agent for both the buyer and the seller. The buyer and seller must consent to this arrangement in their listing and buyer agency agreements. Under this multiple representation arrangement, the company must do what is best for both the buyer and seller.
Since the company's loyalty is divided between the buyer and seller who have conflicting interest, it is absolutely essential that a multiple representation relationship be established in a written agency agreement. This agreement specifically describes the rights and duties of everyone involved and any limitations to those rights and duties.