Dual Agency And Ontario: Understand Your Rights As Buyers And Sellers And The Realtors’ Code Of Ethics Through OREA

Regarding dual agency and Ontario, Canada, both a buyer and seller should be aware of the Code of Ethics that realtors, under the law, are expected to follow when you are purchasing or selling a home through a dual real estate agent, who acts as agent for both the buyer and seller in a real estate transaction. When safeguarding your interests as a buyer or seller of real estate in Ontario, make sure you understand the exact agency relationship that you will establish with those who are sworn to protect your interests; know your rights when working with an agent, and make sure that your agent follows the guidelines of disclosure as they are set out by OREA. See the following url address for information regarding your rights: http://www.teskey.com/disclosure/disclosure.htm.

For pre-transaction information regarding these agency relationships, you can use the Dogpile search engine to direct yourself to explanatory sites that define agency relationships, including dual agency and Ontario, as established by the Ontario Real Estate Association. Visit the informational sites located at the following URL addresses: http://www.mississauga4sale.com/agency-OREA.htm and http://www.kenfinch.net/home/images/Working%20with%20a%20Realtor.pdf. It is advised that you do your homework before you approach an agent to represent your interests in a real estate transaction, particularly one that involves dual agency and Ontario.

To be sure you are prepared, understand the Code of Ethics for real estate agents as detailed through OREA forms that can be downloaded or printed at http://www.realestate-ontario.com/OREAforms/Working_with_a_Realtor.pdf.

If you are still skeptical about dual agency and Ontario at this point, you can find out about warnings regarding "conflicts of interests" that have been reported by news agencies located in Canada, who report concerns voiced by the Ontario government in its review of dual agency (Sean O'Shea and Candice Mak, "Dual Agency: Why Are You Hiring a Double Agent?" Global News Hour, November 28, 2005).

In conclusion, when considering dual agency and Ontario, the old saying of "Let the Buyer Beware" should be of concern to the potential buyer of real estate in Ontario, just to be on the "safe side."