Understanding Transaction Brokerage

Transaction Brokerage came into effect on October 1, 2008. To help explain how Transaction Brokerage works, RECA will publish the answers to commonly asked questions and compare answers for both Common Law and Designated Agency in each Regulator.

In Transaction Brokerage, can I still sell my listings to my buyers (double-end the transaction)?
Common Law

Yes. Transaction brokerage in common law occurs when the same brokerage represents the buyer and seller in the same transaction. Therefore, this would be the case if the same industry member, or two industry members from the same brokerage, was working with the seller and the buyer in the same transaction. This option is allowed and is explained in the terms of the Exclusive Seller Agreement or Exclusive Buyer Brokerage Agreement and Common Law Transaction Brokerage Agreement.

Designated Agency

Yes. Transaction Brokerage in designated agency occurs when the same industry member represents both the buyer and seller in the same transaction. This option is allowed and is explained in the terms of the Exclusive Seller Designated Brokerage Agreement or Exclusive Buyer Designated Brokerage Agreement and Designated Agency Transaction Brokerage Agreement.

Further resources are available to you to help better understand transaction brokerage:

Transaction Brokerage Interpretation Guideline
Transaction Brokerage Practice Guide
Residential Relationship Forms

 

 

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