Earlier this week the Ministry of Finance announced their intent to shift to a single regulator, wrapping real estate oversight into the BC Financial Services Authority (BCFSA). They are aiming for this new legislation to be tabled by Fall 2020, with implementation in 2021. Under this new structure the Office of the Superintendent of Real
BCREA is preparing a response to the Office of the Superintendent of Real Estate (OSRE), in light of its recent discussion paper, Reframing the Role of Managing Brokers in BC. BCREA’s response will provide evidence-based insights and industry-focused recommendations and context to the review process and will be based partly on feedback from and consultation with
In late October, BCREA began its involvement in the Cullen Commission of Inquiry into Money Laundering in British Columbia by attending a series of public meetings which were held throughout the province. Trevor Hargreaves, BCREA Vice President of Government Relations and Stakeholder Engagement, attended the meetings in Vancouver, Victoria, and Richmond on behalf of BCREA,
Conference attendees at BCREA’s 2019 Managing Brokers’ Conference gave the event rave reviews in a post-event survey. 97 per cent of attendees said they’d attend again, with 83 per cent of attendees rating the event “exceptional” or “very good”. Program highlights included the Real Estate Errors and Omissions Insurance Corporation’s presentation “Why Mistakes Happen…And What
BCREA is saddened to hear of the passing of former BCREA Director Dick Pemberton. Dick was a BCREA Director from 2011-2017, and most recently a member of the Government Relations Committee. In his wife’s words, “Dick Pemberton passed away on Monday, October 28, 2019 after a courageous battle with cancer.” Dick was REALTOR® with RE/MAX
Droughts, water restrictions and wildfires have all become part of a typical BC summer, just like Okanagan cherries or a BC Day barbecue. Despite all of BC’s lakes and rivers, the truth is that water scarcity is a serious concern. That’s why the provincial government introduced the Water Sustainability Act in 2016, which requires anyone diverting and
Recent changes to three Real Estate Council of BC mandatory disclosure forms are a significant improvement on previous versions, which were launched as part of the June 2018 Rule changes. The revised forms, which came into effect September 30, 2019, include the Disclosure of Representation in Trading Services, Disclosure of Risks to Unrepresented Parties and Disclosure to Sellers of
For the complete news release, including detailed statistics, click here. Vancouver, BC – November 13, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 7,666 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October, an increase of 19.3 per cent from the same month last year. The average
Roughly twice a year my heart stops when a claim comes to my attention. Why? Because a licensee reports that the seller has sold the property twice! Naturally, the seller is upset. They only have one property to sell and two buyers demanding it. In these instances, the seller typically accepts an offer for the
British Columbia Real Estate Association’s (BCREA) Government Relations team attended the annual 2019 Union of BC Municipalities (UBCM) Convention in Vancouver from September 23 to 27. On the first day of the convention, VP of Government Relations and Stakeholder Engagement Trevor Hargreaves participated in a panel presentation on anti-money laundering, along with Attorney General David