This is an extract of the Auditor General’s report dealing with multiple representation:
To ensure that brokerages protect the best interests of the property buyers or sellers they represent, we recommend that the Ministry of Public and Business Service Delivery (Ministry) review recent changes in other Canadian jurisdictions that prohibit salespersons and brokers from representing both a buyer and a seller in a single transaction, and consider whether it would be appropriate to also prohibit this practice in Ontario.
RECO is committed to effective consumer protection and will support the Ministry as it considers this recommendation.
The Ministry of Public and Business Service Delivery (Ministry) thanks the Auditor General for her work. The Ministry has consulted and moved forward with changes over the past several years.
As noted in the Auditor General’s report, recent amendments to the Real Estate and Business Brokers Act, 2002 and its regulations come into force on April 1, 2023. These include changes that will help the public to better understand their rights and choices when considering whether to work with a registrant in a multiple representation situation (e.g., when a brokerage represents both the buyer and seller).
To inform these changes, the Ministry consulted extensively with the public and other stakeholders on the issue of multiple representation and considered the approaches of other Canadian jurisdictions.
The Ministry will monitor the impact of the recent changes in Ontario and the approaches and experiences of other jurisdictions, to inform any future policy work and decision-making for government consideration.
Brian Madigan LL. B., Broker