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Kelowna News

WALKER: Dual agency rule roll out could have been better

Mark Walker is a real estate agent and the broker/owner of Kelowna’s Walker Real Estate.
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June 30, 2018 - 12:30 PM



When it comes down to it, good ideas are essentially worthless, what really matters is good execution. I have seen this play out in the business world many times over. That’s why I’m a little concerned about how the Superintendent of Real Estate has rolled out the new dual agency rules.

In short, dual agency is when an individual realtor represents both the seller and the buyer in a single real estate transaction. Under the new rules, this will no longer be allowed.

Just to be clear, I am a fan of the new rules, which finally came into force on June 15th. My issue is with the roll out which I believe could have been handled a little better.

I have been involved in real estate for over 20 years, and this is by far the biggest change to impact how Realtors operate that I have seen in my time. That means training and education on the new rules is vital.

However, as of right now, the Superintendent of Real Estate has stated that it is only mandatory to take the new dual agency education course prior to the renewal of a real estate licence. In other words, some agents may not take the course detailing these changes for years. That’s creating a mess for both consumers and my fellow professionals in the industry.

So what should the Superintendent of Real Estate have done? They should have made it mandatory for agents to take the course before the roll out. Let’s keep in mind, these new rules have been in the works for a significant period of time. It’s not as if these changes have appeared out of the blue.

My view is that you shouldn’t be able to sell real estate until you have taken the course, and I will running my brokerage with this ethos in mind. I’m actively encouraging all of my agents to take the course at the earliest possible time.

At Walker Real Estate, we’ve very passionate about world-class service, and we feel you simply cannot deliver that unless you are 100% on top of your game - that includes knowing the ins and outs of the new dual agency changes.

If you have any questions about the Kelowna real estate market, which is currently in a period of transition, please reach out to my by contacting the Walker Real Estate office at 250-764-4344. It would be my pleasure to chat with you!

—Mark Walker is a real estate agent and the broker/owner of Kelowna’s Walker Real Estate. His company runs the website - Kelowna’s most comprehensive real estate search tool - and KelownaCondos - your source for all you need to know about condos in Kelowna.

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