Buyer's Agency

Buyer's agency is an agency relationship in which a licensed real estate professional represents the buyer as a client, owing full fiduciary duties including loyalty, confidentiality, and disclosure of material facts. Under the Real Estate Services Act (RESA), SBC 2004, c. 42, and the BCFSA Rules, this relationship must be established in writing, typically through a disclosure of representation form. The brokerage and designated agent must act in the buyer's best interests throughout the transaction.

Yes. Under the Real Estate Services Act (RESA), SBC 2004, c. 42, and the rules made by the British Columbia Financial Services Authority (BCFSA), agency relationships must be disclosed and established in writing. The BCFSA Rules require licensees to provide a disclosure of representation in writing before or as soon as practicable after an agency relationship begins. Verify current BCFSA disclosure requirements with a BC lawyer, notary, or licensed real estate professional before proceeding.

Under the Real Estate Services Act (RESA), SBC 2004, c. 42, and common law fiduciary principles, a buyer's agent owes the client full fiduciary duties including loyalty, confidentiality, obedience to lawful instructions, reasonable care and skill, full disclosure of all material facts, and accounting for funds. These duties require the agent to place the buyer's interests above their own and above those of any other party. The specific scope and application of these duties depend on the facts of each transaction—verify with a BC lawyer or notary before relying on any particular duty.

Limited dual agency was prohibited in BC effective December 15, 2020 (as of 2026-07-27 — verify current) under amendments to the Real Estate Services Act (RESA) and BCFSA Rules. A brokerage may designate separate agents within the same brokerage to represent the buyer and seller, but no single licensee may represent both parties in the same trade. Verify current BCFSA Rules on designated representation and conflicts of interest with a BC lawyer, notary, or the BCFSA before proceeding.

Typically, the seller pays the cooperating commission to the buyer's brokerage out of the proceeds of sale, as negotiated in the listing agreement between the seller and the listing brokerage. However, the buyer and buyer's brokerage may negotiate a separate buyer representation agreement that sets out compensation terms, including any amount the buyer may pay directly. Verify commission arrangements and written agreements with your brokerage and a BC lawyer or notary before signing any contract.

In buyer's agency, the licensee represents the buyer as a client and owes full fiduciary duties under the Real Estate Services Act (RESA), SBC 2004, c. 42. In a customer relationship, the licensee does not represent the buyer; instead, the licensee assists the buyer while representing another party (typically the seller) and owes only limited statutory duties such as fairness, honesty, and disclosure of known material latent defects. The distinction must be disclosed in writing under BCFSA Rules—verify your representation status in writing with your real estate professional before proceeding.

The British Columbia Financial Services Authority (BCFSA) regulates all real estate licensees in BC under the Real Estate Services Act (RESA), SBC 2004, c. 42, and the BCFSA Rules. BCFSA took over real estate licensing and enforcement from the former Real Estate Council of BC (RECBC) on August 1, 2021 (as of 2026-07-27 — verify current). Complaints about licensee conduct should be directed to BCFSA; verify current complaint procedures and regulatory requirements at www.bcfsa.ca or with a BC lawyer.

No, unless the buyer provides informed written consent. Under the Real Estate Services Act (RESA), SBC 2004, c. 42, and fiduciary duty principles, a buyer's agent must maintain confidentiality of all information received from or about the client, including the buyer's motivation, financial capacity, or willingness to pay more than the offered price. Disclosure without consent may breach fiduciary duty and BCFSA Rules, and may subject the licensee to discipline—verify confidentiality obligations with a BC lawyer or the BCFSA before sharing any client information.

While the Real Estate Services Act (RESA), SBC 2004, c. 42, and BCFSA Rules require written disclosure of agency, they do not mandate a specific form of buyer representation agreement. A comprehensive agreement typically includes the scope of representation, duration, geographic area, compensation and commission terms, and the parties' obligations, but specific terms may vary. Verify that any buyer representation agreement complies with current BCFSA Rules and meets your needs by consulting a BC lawyer or notary before signing.

Yes. Under the Real Estate Services Act (RESA), SBC 2004, c. 42, and BCFSA Rules, all licensees—whether representing the buyer, seller, or acting for customers—must disclose known material latent defects in the property. A buyer's agent also has a fiduciary duty to disclose all material facts to the buyer client, including any defects or adverse circumstances affecting the property that the agent knows or ought to know. Verify disclosure obligations and property condition with your agent, a home inspector, and a BC lawyer or notary before completing any purchase.