BC Real Estate License: ‘Double Ending’ Ban and Penalties

BC Real Estate License: ‘Double Ending’ Ban and Penalties

If you have your BC real estate license, you’re going to need to focus on the relevant trends in the industry and one as of recently is “shadow-flipping,” a Wholesale Jerseys process that involves realtors using contract C.J. Anderson Womens Jersey assignments to increase commissions by reselling the same house over and over in order to benefit themselves. The process hinges on “double ending,” whereby realtors represent both the buyer and the seller.

Fines

A new interim report issued by an advisory group that reviewed British Columbia’s real estate industry is suggesting Michael Stone Cheap Jerseys Jersey that bigger fines are implanted on those who participate in double ending in order to end deals Taylor Gabriel Jersey such as shadow-flipping.

“Public confidence in the integrity of the real estate services sector and its regulation has been shaken,” said Carolyn Rogers, a member of the advisory group. “The public has Henri Richard Womens Jersey Authentic Landon Collins Jersey rightfully questioned whether the self-regulatory powers granted to the real estate services industry continue to be appropriate and whether the industry is adequately fulfilling its obligations under this regime.”

Predatory Wholesale Jerseys Sales

In addition to questioning of double-ended deals, many Authentic Mike Green Jersey are now pointing Cheap Jerseys From China to the misleading and predatory sales strategies of some companies that are only acting Andre Reed Jersey in their own interests. Thus far, the province has already begun to crack down on shadow-flipping, and Rogers’ group claims that they are keeping an eye on the effectiveness of the new regulations in this effort.

Double Ending

Despite the use of double ending to act as both buyer and seller and flip homes for the purpose of Albert McClellan Jersey increasing price, there is the possibility that dual agency is useful in certain real estate situations. Rogers’ group is currently investigating this possibility to determine the regulations that should be put in place.

Real estate licensees are expected to act at all times, solely in their client’s best interest,” Rogers said. “It is difficult for most people to understand how this advice and this obligation can coexist with rules that allow a licensee to represent the interests Jack Eichel Youth Jersey of a buyer and a seller in the same transaction given the inherent conflicts between those parties’ interests.”

Whether you have your BC real estate license or are in the process of obtaining Crockett Gillmore Womens Jersey it, make sure you know the ins and outs of all the latest tools and tricks in the industry. Double ending has been on the rise and many realtors are using it to flip homes for Wholesale Jerseys higher prices using loopholes in the system. Keep an eye on the bans and fines that are applied to these tactics in the near future. For more information or further questions, give us a call at (778) 686-8555 and we’ll be happy to assist you.

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