Professional Development The Home Buyer Rescission Period: What REALTORS® Need to Know
by Harveen Dhaliwal
Nov 03, 2022
BCREA Apply Now: Join BCREA’s Board of Directors
by Morgan Guo Oct 03, 2022
Buying a property is the biggest financial decision most of us will ever make. That’s why BCREA ensures REALTORS® have the tools to help you make the decision with confidence. From advocacy promoting affordability to professional development, from in-depth economic analysis to standardized legal forms, we support REALTORS®.

So they can support you.

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You’ll find resources and information on advocacy, professional development, market analysis, standard forms and more, with new content published weekly!


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INDUSTRY INSIGHTS

  • Housing Monitor Dashboard
    The BCREA Economics team has created the Housing Monitor Dashboard to help REALTORS® monitor BC’s housing market.  
    Posted Nov 29, 2022
    by Ryan McLaughlin
  • Stay Cool – New Home Buyer Recission Period for Residential Real Properties Coming January 3, 2023
    BC’s new Home Buyer Rescission Period (HBRP) for residential real estate property takes effect on January 3, 2023 and while it is not a new concept, REALTORS® need to be aware of the effects of the new regulation 
     
    Posted Nov 28, 2022
    by Amy Peck
  • BCREA Online Courses Updated to Reflect Regulatory Changes
    With the Home Buyer Rescission Period expected to go into effect on January 3, 2023, BCREA has updated previously available courses so they align with the upcoming regulatory changes. 
    Posted Nov 21, 2022
    by Harveen Dhaliwal
  • BC Real Estate Association named Best Workplaces™ in British Columbia for 2022
    This year’s designation marks the second consecutive year BCREA has received this accreditation, after a thorough, independent analysis conducted by Great Place to Work®.  
    Posted Nov 17, 2022
    by Morgan Guo
  • Housing Market Update – November 2022
    Watch BCREA Economist Brendon Ogmundson discuss the October 2022 statistics. 
    Posted Nov 17, 2022
    by Brendon Ogmundson
  • ‘Tis the Season… to Test for Radon
    As a REALTOR® you can help your buyers and sellers to test and mitigate radon in your community. Check our resources here. 
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    Posted Nov 14, 2022
    by Ivonne García
  • REALTORS® and Radon: Protecting Buyers and Sellers
    As a REALTOR®, understanding radon risks is both your professional responsibility and an opportunity to ensure your clients are protected… 
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    Posted Nov 14, 2022
    by British Columbia Real Estate Association
  • BC Home Sales Remain Slow While Active Listings Plateau
    BCREA reports that a total of 5,242 residential unit sales were recorded by the MLS® in October 2022, a decrease of 45.5 per cent from October 2021. 
    Posted Nov 14, 2022
    by Brendon Ogmundson
  • UPDATE: BC’s Home Buyer Rescission Period: Your Questions Answered
    Learn more about the Home Buyer Rescission Period which is expected to be implemented province-wide in January 2023.  
  • BCREA 2022 Fourth Quarter Housing Forecast: Housing Market Faces High Rates and Slowing Economy in 2023
    In its 2022 Fourth Quarter Housing Forecast, BCREA reports that MLS® residential sales in the province are forecast to decline 34.3 per cent from a record high 2021 to 82,345 units this year. 
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    Posted Nov 08, 2022
    by Brendon Ogmundson
  • Canada’s Foreign Buyer Ban Begins in January
    While REALTORS® owe their clients an obligation to inform about the act, it allows for penalties on any party found guilty of knowingly assisting a non-Canadian in violating the prohibition.  
  • Webinar: Preparing for the Home Buyer Rescission Period, Regulatory and Practice Resources
    Enhance your comprehension of the Home Buyers Rescission Period, comply with the new requirements and know how to explain them to your clients by registering to one of our one-hour joint webinars with BCFSA. 
    Posted Nov 04, 2022
    by Ivonne García
  • The Home Buyer Rescission Period: What REALTORS® Need to Know
    Launching December 1, 2022, BCREA has developed a new course to equip REALTORS® and managing brokers with a strong foundation required to address the needs of their clients. 
    Posted Nov 03, 2022
    by Harveen Dhaliwal
  • Webinar Recording: 2022 BCREA Director Applicant Information Session
    October 31, BCREA hosted a virtual information session for individuals interested in learning more about becoming a BCREA REALTOR® or public Director for the 2023-24 term. 
    Posted Nov 03, 2022
    by Morgan Guo
  • BCREA Nowcast
    The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for August 2022 is 4.9 per cent. 
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    Posted Oct 28, 2022
    by Brendon Ogmundson
  • The F Word: Protecting Yourself and Your Clients from Fraud #554
    REALTORS® should be familiar with the hallmarks of business email compromise fraud and other identity fraud that may come up in their practice. 
    Posted Oct 27, 2022
    by Oana Hyatt
  • REALTORS® Call for the Establishment of a Permanent National Housing Roundtable
    At the 2022 Political Action Committee Days conference in Ottawa last week, we met with members of Parliament from communities across BC to discuss policies that promote a vibrant and sustainable real estate sector. 
    Posted Oct 25, 2022
    by British Columbia Real Estate Association
  • BCREA Seeks Nominees for the Land Title and Survey Authority of British Columbia Board of Directors
    BCREA Board of Directors is looking for three to five qualified nominees to recommend to the Land Title and Survey Authority of British Columbia Board of Directors.  
    Posted Oct 21, 2022
    by Morgan Guo
  • BC Municipal Elections: Local Governments Need to Address Housing Affordability
    As British Columbians head to the polls on October 15, BCREA is pleased to share the top housing affordability solutions that should be the policy focus of candidates running for office across the province. 
    Posted Oct 14, 2022
    by British Columbia Real Estate Association
  • Registration Now Open for 2023 Banff Western Connection
    Registration is open for Banff Western Connection 2023 taking place from January 26-28, 2023 at the Fairmont Banff Springs Hotel in Banff, Alberta. 
    Posted Oct 12, 2022
    by Ivonne García
  • BC Market Activity Remains Subdued in September
    BCREA reports that a total of 4,977 residential unit sales were recorded by the MLS® in September 2022, a decrease of 45.8 per cent from September 2021. 
    Posted Oct 12, 2022
    by Brendon Ogmundson
  • British Columbians Face Diverse Housing Challenges in Northern and Island Communities
    In advance of the 2022 General Local Elections, BCREA discussed housing challenges faced by mayors and community stakeholders in several of BC’s unique municipalities. 
    Posted Oct 11, 2022
    by Matt Mayers
  • Metro Vancouver Cities Need Collaboration to Address Housing Affordability
    At the 2022 UBCM Convention, delegates from BCREA and five of BC’s real estate boards met with municipal leaders to discuss how housing supply and affordability issues have impacted their communities. 
    Posted Oct 06, 2022
    by Mark Sakai
  • New Online Course Explores Legislation and Requirements for Manufactured Homes
    The Manufactured Homes: What REALTORS® Need to Know 2.0 online course equips REALTORS® with foundations on the legislation and requirements for manufactured homes. 
    Posted Oct 04, 2022
    by Ivonne García
  • Listing and Selling Tenanted Properties #553
    Listing and selling tenanted properties can be complicated and add complexity to a transaction. From coordinating showings, to providing vacant possession, to provisions in contracts for standard adjustments at closing,  
    Posted Oct 04, 2022
    by Lisa Niro
  • Apply Now: Join BCREA’s Board of Directors
    BCREA is seeking REALTOR® and public candidates to join our Board of Directors for the 2023-24 term. 
    Posted Oct 03, 2022
    by Morgan Guo
  • UPDATE: COVID-19 Recovery Dashboard
    The BCREA Economics team has created the COVID-19 Recovery Dashboard to help REALTORS® monitor BC’s economic recovery. 
    Posted Sep 28, 2022
    by Ryan McLaughlin
  • CLI Falls in Second Quarter 2022
    The BCREA Commercial Leading Indicator fell to 153 from 155 in the second quarter of 2022, but the six-month moving average hit a record high. Compared to the same time in 2021, the index was down by 1.6 per cent. 
    Posted Sep 27, 2022
    by Ryan McLaughlin
  • Mortgage Rate Forecast
    Five-year bond yields briefly declined through July, only to once again recover their previous 2022 highs as still rising core inflation prompted a reversal in expectations for monetary policy. 
    Posted Sep 22, 2022
    by Brendon Ogmundson
  • BCREA and Real Estate Board Delegates Join Discussion on Housing Affordability at 2022 Union of British Columbia Municipalities Convention
    Last week, BCREA and five of BC’s real estate boards sent delegates to the Union of BC Municipalities Convention in Whistler to meet with local and provincial political leaders. 
    Posted Sep 22, 2022
    by Matt Mayers
  • BC Housing Market Showing Signs of Stabilizing Despite Decreased Activity
    BCREA reports that a total of 5,645 residential unit sales were recorded by the MLS® in August 2022, a decrease of 40.8 per cent from August 2021. 
    Posted Sep 13, 2022
    by Brendon Ogmundson
  • BCREA 2022 Third Quarter Housing Forecast Update: High Mortgage Rates Will Weigh on Housing Activity Through 2023
    In its 2022 Third Quarter Housing Forecast Update, BCREA forecasts MLS® residential sales are forecast to fall an additional 5 per cent to 77,790 units. 
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    Posted Sep 08, 2022
    by Brendon Ogmundson
  • BCREA Access: Explore Five Useful Resources Available Now
    Using BCREA Access is easy! Discover five helpful resources accessible on your desktop, mobile and tablet devices today. 
    Posted Sep 06, 2022
    by Pearl Zhou
  • BCREA Appointee Sought for Real Estate Compensation Fund Corporation (RECFC)
    BCREA Board of Directors is seeking an appointee for the Real Estate Compensation Fund Corporation Board of Directors. 
    Posted Aug 26, 2022
    by Ivonne García
  • Prevent Client Remorse in a Fluctuating Real Estate Market #552
    Ensuring you’re well prepared upfront with the proper documentation, the best information and best practices, REALTORS® can help prevent client remorse. 
    Posted Aug 25, 2022
    by Chris Johnston
  • Get to Know BCREA Access – The New Platform Created Exclusively for BC REALTORS®
    BCREA Access is a new, secure platform designed to house resources for REALTORS® and managing brokers where and when they need it the most. 
    Posted Aug 23, 2022
    by British Columbia Real Estate Association
  • BCREA Access Replacing REALTOR Link® On August 23
    On August 23, BCREA is launching BCREA Access, a new platform for REALTORS® to securely access resources from BCREA. 
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    Posted Aug 11, 2022
    by British Columbia Real Estate Association
  • Markets at a Glance
    These charts provide year-to-date information on the pace of MLS® home sales for the province as well as in each of the BCREA member board regions and a comparison of current year sales… 
    Posted Aug 11, 2022
    by Ryan McLaughlin
  • BC Home Sales Continue to Slow in July
    The British Columbia Real Estate Association reports that a total of 5,572 residential unit sales were recorded by the Multiple Listing Service® in July 2022, a decrease of 42.4 per cent from July 2021. 
    Posted Aug 11, 2022
    by Brendon Ogmundson
  • BC’s Homebuyer Protection Period: What’s Next for REALTORS®?
    REALTORS® are at the front lines of real estate transactions in BC, so a change in the way transactions are conducted will have an impact on how your serve your clients. 
  • Getting to Informed Consent: Explaining Listing Agreements to Clients #551
    Better serve your clients when you fully understand listing contract agreements and can thoroughly explain key details before they put pen to paper. 
    Posted Jul 28, 2022
    by Peter Borszcz
  • Updated Online Anti-Money Laundering Course Now Available for REALTORS®
    Learn about what is required by FINTRAC to ensure that your practice complies with regulations and laws in this updated self-paced online course by the Canadian Real Estate Association. 
    Posted Jul 27, 2022
    by Pearl Zhou
  • BC Government to Implement Homebuyer Protection Period in January 2023
    The BC Government has created regulations that will enable a mandatory three-day Homebuyer Protection Period, previously called a “cooling off period,” on January 1, 2023. 
    Posted Jul 21, 2022
    by British Columbia Real Estate Association
  • High Mortgage Rates Keeping Potential Buyers Sidelined
    BCREA reports that a total of 7,136 residential unit sales were recorded by the MLS® in June 2022, a decrease of 35.7 per cent from June 2021. 
    Posted Jul 12, 2022
    by Brendon Ogmundson
  • New Online Course Explores Systems Used in Residential Construction
    Know your Product: House Systems is a new self-paced online course that provides a comprehensive introduction to the systems used in residential construction equipping Realtors with tools to better assist clients. 
    Posted Jun 30, 2022
    by Harveen Dhaliwal
  • BC REALTORS® Meet In-Person Again at the Association of Interior REALTORS® Tradeshow
    From June 22-23, BCREA staff participated in the inaugural Association of Interior REALTORS® tradeshow in sunny Penticton, BC. 
    Posted Jun 30, 2022
    by Pearl Zhou
  • Use Your Name Wisely #550
    Despite good intentions, there are limits to how far a REALTOR® should go to help a colleague when it comes to business collaborations and opportunities. 
    Posted Jun 30, 2022
    by Amy Peck
  • BC Real Estate Association named Great Place to Work® in Canada for 2022
    The 2022 Great Place to Work® designation marks the third consecutive year BCREA has received this accreditation.  
    Posted Jun 29, 2022
    by British Columbia Real Estate Association
  • BC Government Releases Cullen Commission Final Report and Recommendations
    On Wednesday, June 15, the BC Government publicly released the final report and recommendations from the Cullen Commission of Inquiry into Money Laundering BC. 
    Posted Jun 16, 2022
    by Shaheed Devji
  • Rising Mortgage Rates Continue to Slow Market Activity
    BCREA reports that a total of 8,214 residential unit sales were recorded by the Multiple Listing Service® in May 2022, a decrease of 35.1 per cent from May 2021.  
    Posted Jun 13, 2022
    by Brendon Ogmundson
  • BCREA’s New Professional Services Manager Reflects on State of BC’s Real Estate Sector
    Meet BCREA’s new Professional Services Manager, Jim McCaughan, to learn more about his role, experience and what he believes BC Realtors should know moving forward. 
    Posted Jun 09, 2022
    by Pearl Zhou
  • Success of Real Estate Consumer Protection Measures Hinges on Next Steps by BC Government and Real Estate Regulator
    After reviewing the BCFSA consumer protection recommendations published on May 26, the BCREA urges the Ministry of Finance to carefully consider the next steps prior to implementing any of the measures proposed.  
    Posted May 30, 2022
    by British Columbia Real Estate Association
  • Avoid Costly Mistakes Concerning the Foreign Buyers’ Tax #549
    A recent BC Supreme Court decision highlights the potential risks for REALTORS® working with buyers whose residency or citizenship status is unknown or has recently changed. 
    Posted May 26, 2022
    by Oana Hyatt
  • BC REALTORS® Advocate for Better Consumer Protections During 2022 Government Liaison Days
    On May 10 and 11, many REALTORS® from across BC convened to discuss government liaison issues and met with their local MLAs.  
  • BCREA Standard Forms Housekeeping Amendments Spring 2022
    On May 16, 2022, BCREA released several standard forms housekeeping amendments through CREA’s WEBForms®. Here’s a summary of the standard forms and revisions that are in the housekeeping amendments. 
    Posted May 18, 2022
    by Jim McCaughan
  • Resources to Help REALTORS® and Your Clients Navigate Extreme Climate
    Be prepared for unexpected wildfires and flooding this season. 
    Posted May 13, 2022
    by Pearl Zhou
  • BC Home Sales Trending Toward Normal Activity
    BCREA reports that a total of 8,939 residential unit sales were recorded by the MLS® in  April 2022, a decrease of 34.9 per cent from a record April 2021. 
    Posted May 12, 2022
    by Brendon Ogmundson
  • BC Real Estate Boards Named Finalists for 2022 Real Estate Land Awards
    The Real Estate Foundation of BC recently announced the finalists for its 2022 Land Awards recognizing outstanding projects and standout leaders in the province.  
    Posted May 09, 2022
    by Pearl Zhou
  • New BC Real Estate Association Report Estimates Impacts of Increased Supply on BC Housing Market
    BCREA’s latest Market Intelligence Report finds that policies designed to streamline the development cycle are effective at mitigating demand shocks and corresponding price increases.  
    Posted May 03, 2022
    by Brendon Ogmundson
  • Federal Budget 2022: Taxation of Property Flipping, GST and Assignment Sales #548 
    The proposed federal budget for 2022 has introduced a number of new rules relating to real estate, including rules to dampen speculation in the market. REALTORS® should be aware of these changes. 
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    Posted Apr 28, 2022
    by Peter Borszcz
  • Inflation and the Rising Trend of Underinsured Claims: Tips for REALTORS®
    There has been a growing trend of underinsured claims across personal and commercial property lines over the past two years due to inflation and the rise material costs. 
    Posted Apr 28, 2022
    by Pearl Zhou
  • Five Things REALTORS® Should Know About Real Estate and the Economy
    Here are five learning outcomes that Realtors should know about real estate and the economy from Economics for REALTORS®: How to Apply Economic Data and Trends to Help Your Clients. 
    Posted Apr 19, 2022
    by Mackenzie Smith
  • Safety and Manufactured Homes Pilot Project: Resources for Sellers and Buyers
    This pilot project is the collective effort of the BCREA, Association of Interior REALTORS® and Technical Safety BC. 
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    Posted Apr 14, 2022
    by British Columbia Real Estate Association
  • Strong First Quarter for BC Housing Markets, But Rising Rates Loom Large
    The British Columbia Real Estate Associatio reports that a total of 11,463 residential unit sales were recorded by the MLS® in March 2022, a decrease of 24.1 per cent from a record March 2021. 
    Posted Apr 12, 2022
    by Brendon Ogmundson
  • How the 2022 Federal Budget Impacts BC Real Estate
    On April 7, Budget 2022 was introduced with a significant focus on the supply and affordability of housing in Canada.  
  • Cybersecurity Tips for REALTORS®: Multifactor Authentication
    Ensuring your digital accounts are secure online prevents hackers from obtaining not just your sensitive information, but also private client information. 
    Posted Apr 08, 2022
    by Pearl Zhou

BCREA Podcast

Open House by BCREA

Open House by BCREA is a monthly podcast where REALTORS® in BC will find the latest real estate news, and feature conversations with experts on issues related to real estate practice.

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