Dual Agency

The wording regarding dual agency on the OREA Confirmation of Co-operation and Representation spells it out clearly:

Dual Agency:
The Listing Broker has entered into a Buyer Agency Agreement with the buyer and represents the interests of the seller and the buyer, with their consent, as a Dual Agent in negotiating the terms of this transaction.  The Listing Broker must be impartial and equally protect the interests of the seller and the buyer in this transaction.  The Listing Broker has a duty of full disclosure to both the seller and the buyer, including a requirement to disclose all factual information about the property known to the Listing Broker.

However, the Listing Broker shall not disclose:

• That the seller may, or will, accept less than the listed price, unless otherwise instructed in writing by the seller.
• That the buyer may, or will, pay more than the offered price, unless otherwise instructed in writing by the buyer.
• The motivation of, or personal information about, the seller or buyer, unless otherwise instructed in writing by the party to which the information applies, or unless failure to disclose would constitute fraudulent, unlawful or unethical practice.
• The price the buyer should offer or the price the seller should accept and:
• The Listing Broker shall not disclose to the buyer the terms of any other offer.

However, it is understood that factual market information about comparable properties and information known to the Listing Broker concerning potential uses for the property will be disclosed to both seller and buyer to assist them to come to their own conclusions.  

 

 

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