If a real estate agent intends to act for both the buyer and the seller in a transaction, they must fully disclose the arrangement to all parties – or risk jeopardizing the deal, Toronto real estate lawyer Lisa Laredo says in Law Times.

In Partners Realty Ltd. v. Morrow, the Ontario Superior Court recently found the failure to disclose dual agency constituted a material breach in the listing agreement, resulting in a loss of almost $18,000 in commission for the agent.

“The simple rule is that an agent cannot serve two masters,” Laredo says in Law Times.

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