Relex™ ‘ahead of the curve’ with Stance on Double Ending
The B.C. Government announced significant changes to how the B.C. Real Estate Industry would be regulated this past summer.
The overhaul of changes, which included a 15 per cent foreign buyer tax in the Vancouver region and the end of self-regulation within the real estate industry, also suggested that there will be an end to dual agency, which is commonly referred to as ‘double ending’.
Double ending occurs when a Realtor® represents both the buyer and the seller in a real estate transaction.
Since the launch of Relex™ in October 2015, Relex™ Realtors® have contractually agreed with Relex™ lawyers not to participate in limited dual agency. From the beginning, Relex™ understood the importance of representing one client per transaction.
“When you represent one client, it’s crystal clear where your loyalty sits,” says Relex™ founder, Dean Witala. “This is another example of how Relex™ is ahead of the curve when it comes to real estate transactions and consumers’ best interests.” This “ahead of the curve” thinking is important to consumers who have witnessed the real estate industry take critical hits throughout 2016. Relex™ clients also have the benefit of knowing that a Relex™ real estate transaction involves a lawyer from the very beginning of the sales process.
Traditionally, lawyers may not notice problems with Land Title and Contract of Purchase and Sale agreements until the subjects in the contract have been removed and the deposit is in trust. At that point, it’s quite difficult–not to mention, expensive–to have these issues resolved.
With a Relex™ lawyer overseeing Land Title and Contract of Purchase and Sale agreements from the start, clients enjoy an additional level of protection.
“My clients are thrilled that I oversee their entire sale process, including their contracts, as soon as they are received,”
– Marie-Louise Fast of Fast and Company in Richmond, B.C.
At a time when the public requires more legal protection than ever in real estate transactions, it’s important to have Relex™ Realtors® and lawyers working on your side.”