Real Estate

Buying/selling agent from the brokerage?

  • Last Updated:
  • Aug 17th, 2021 10:02 am
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[OP]
Deal Fanatic
May 22, 2003
8666 posts
5513 upvotes
Vancouver

Buying/selling agent from the brokerage?

Starting to look into a vacation/rental property on the Island. As it is a smaller town, there are only 2 major real estate offices there. Most of the agent recommendations are from the same brokerage as the listing agent. Is that something I should be concerned about? Is it better to find a buying agent from the other brokerage?
8 replies
Sr. Member
Dec 3, 2019
503 posts
460 upvotes
Ontario
Why not just look on MLS and contact the selling agent directly for a showing.
[OP]
Deal Fanatic
May 22, 2003
8666 posts
5513 upvotes
Vancouver
buysellbuy wrote: Why not just look on MLS and contact the selling agent directly for a showing.
I was under the impression (possibly incorrectly), that it is advisable to have a separate agent for buyer vs the seller?
Sr. Member
Dec 3, 2019
503 posts
460 upvotes
Ontario
In theory yes but in practice no.

The buyer's agent has their commission on the line so the right deal is the one that will pay them a commission.

Have your lawyer review any paperwork before signing, not the buy agent.

Using a buy agent is not really free: You can request an additional 2.5% off the price for not using a buying agent. If not possible, just use a buyer's agent with most cash back for that deal only.
notenoughsleep wrote: I was under the impression (possibly incorrectly), that it is advisable to have a separate agent for buyer vs the seller?
Newbie
User avatar
Feb 27, 2017
94 posts
125 upvotes
notenoughsleep wrote: I was under the impression (possibly incorrectly), that it is advisable to have a separate agent for buyer vs the seller?
In scenario he is suggesting the agent is only representing the seller, you as a buyer would be unrepresented with everything that would entail, in BC dual agency practically prohibited
Gradatim Ferociter
[OP]
Deal Fanatic
May 22, 2003
8666 posts
5513 upvotes
Vancouver
meetthemonster wrote: Where are you looking to buy, Gulf Islands?
Vancouver Island (mainly looking at Parksville right now).
Newbie
User avatar
Feb 27, 2017
94 posts
125 upvotes
buysellbuy wrote: In theory yes but in practice no.

The buyer's agent has their commission on the line so the right deal is the one that will pay them a commission.

Have your lawyer review any paperwork before signing, not the buy agent.

Using a buy agent is not really free: You can request an additional 2.5% off the price for not using a buying agent. If not possible, just use a buyer's agent with most cash back for that deal only.
what happened to your last quote?
Since you called me a liar for some kind of fictional commission I will respond nonetheless :
1) no agency and unrepresented party in that context is absolutely the same thing, which is kind of obvious
2) BCFSA is the regulator of RE in BC and here is the rule specifically pertaining to dual agency https://www.bcfsa.ca/about-us/legislati ... ual-agency
as you can see there is no mentioning of "limited dual agency" which you were referring to
Last edited by AllThingsRealEstate on Aug 17th, 2021 10:18 am, edited 1 time in total.
Gradatim Ferociter
Newbie
User avatar
Feb 27, 2017
94 posts
125 upvotes
notenoughsleep wrote: Vancouver Island (mainly looking at Parksville right now).
gotcha, Did you look for a brokerage in Nanaimo? should be plenty of those there and shouldn't have an issue working in Parksville if you don't feel comfortable with those two brokerages you mentioned
Gradatim Ferociter

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