FlashCourse

On the New Brokerage Relationships Act

Effective 1 November 2000

Agency Outlawed

You Can No Longer Be an Agent for Buyers, Sellers, Landlords, Tenants, and other Parties to a Real Estate Transaction.

Note: The principal/agent relationship between the principal broker and associates remains the same.

Don’t call yourself an Agent. Don’t allow others to call you an agent. Politely correct buyers or sellers who call you their " Real Estate Agent."

Don’t use "Agency Specific" terminology. Don’t call the Party you are performing services for your Principal or Client.

Don’t call yourself an "Advocate" of the Party for whom you are performing services. Transaction brokers are not allowed by law to call themselves advocates.

Single Party brokers who claim to be advocates risk becoming "agents" by their actions.

Don’t accept or offer agency, sub-agency, dual agency, or co-agency to any other brokerage. (That is, another company.)

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