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20180626 Can you represent both purchaser and seller?

20180626 (Tue)

Can an agent represent the purchaser at the same time representing the seller/vendor?

That is a SURE taboo in the appointment as it contravenes two major Rules – conflict of interest and fee.

The VEAP Rules 1986 in Rule 93 Acting for two parties, especially states that there SHALL NOT be agency firm acting for both parties in the same transaction.

Mind you! It is not even SAME AGENT, but among agents within an AGENCY FIRM. See below:

Rule 93(1) A registered estate agent shall not act for one party to a transaction if the other party to the same transaction is represented by another registered estate agent from the same firm.

Rule 93(2) A registered estate agent from a firm shall not act for one party in any one transaction while another registered estate agent from a related, associated or affiliated firm is acting for the other party to the same transaction except with the knowledge and prior written consent of the parties concerned.

As for Fee charging:

Rule 89 Professional Fee

89(2) A registered estate agent shall not charge or attempt to charge fees on more than one party in any one transaction and such fee shall not exceed the maximum fee specified in the scale of fees specified in the Seventh Schedule.

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