Who represents you in the transaction?

As a seller or a buyer, unless you are extremely experienced, it is strongly recommended by the Real Estate Council of Ontario (RECO) that you work with a Broker or Salesperson.

If you have worked with a broker or salesperson in the past, or if you will be working with one, there are times that you may end up in a multiple representation situations. If you are a seller, you may wonder, “If my broker/salesperson is not the same as the buyer’s, how can it be multiple representation?”. The same can happen with a buyer who gets involved in multiple representations with another buyer.

So, how?

Before we explain, there is another key question to ask: Who represents you in the transaction?

Is it your salesperson?

Wrong.

The correct answer is the brokerage your salesperson works with.

Now does it make sense why you would be in a multiple representation situation, even if both parties of the transaction do not work with the same salesperson?

Yes, because the same brokerage represents both the seller and the buyer, or in other cases, both buyers for the same property.

What do you need to be aware of if you find yourself in a multiple representation situation? Is this something you need to avoid? Contact New Vision Team, we would love to help you learn more.