Using the same agent to buy and sell can save time and eliminate miscommunications when you’re buying and selling your home at the same time. There are regulations in BC that prevent a real estate agent from working with both buyer and seller on the same property. “Dual Agency” in Metro Vancouver has been a thing of the past since 2018. But this differs from a client choosing the same agent to sell one home and buy the next. While Dual Agency is a conflict of interest, hiring an agent to help with buying and selling may be in your best interest.
Pros and cons of using the same agent to buy and sell
The key to making a smooth transition between the home you’re selling and buying is aligning all aspects of the transaction. If you have two different agents, the chances of miscommunications increase. For example, details that seem small at first can end up causing a lot of stress. Making a small change to one side of the contract can create a domino effect on the other. Timing of the closing, where and when is key hand-off, or who’s responsible for move-in/out cleaning. If not well coordinated, the final details can add to a lot of needless frustration. Using the same agent on both sides helps minimize any oversight between buying and selling.
On the other hand, two different agents assisting the same client won’t have access to each other’s contracts. If you’re the sort of person that likes to keep everything “at arm’s length,” you might like that added level of privacy working with two separate agents gives you. For example, during a separation, you may feel more comfortable having one agent handling the joint sale and your own agent handling your sole purchase. Of course, it goes without saying if you’re moving out of the area, province or country. It’s not always possible to use the same agent. REALTORS® must be licensed in their service region, and very few agents work between other provinces/territories.
Neighbourhood specialist vs geographical generalist
Working with a neighbourhood specialist when selling your home seems logical because that local knowledge is helpful to buyers. But when deciding if using the same agent to sell and buy makes sense, remember a specialist may not venture into the areas you’re searching. And there’s another type of specialist, an agent who only works with sellers or buyers. So it’s essential to ask these questions upfront. Another thing to think about is working with an agent who has a lot of listings in an area you want to buy into. This could put you in a Dual Agency dilemma, and you’d have to find another REALTOR® if you wish to offer on a listing your agent has for sale.
I’ve worked as a generalist for my entire 20+ career, back when it was highly unusual to move between communities as fluidly as we do now. While my home base is in New West, exploring and comparing what the surrounding areas offer you, is what I do best. Finding the perfect balance between community and commute can be tricky in Metro Vancouver, but I know it’s possible, and I’ve helped many families find their forever home. As a generalist, we’ll look at all the options in all the areas within your budget then you’ll decide what makes good sense.
Ultimately, as a homeowner, buyer and seller, the choice is yours. While I can say, I’ve helped hundreds of happy homeowners buy and sell simultaneously. There are no right or wrong answers to your personal preferences or who you best feel will represent you well in your housing decisions.
