Professional Development
The Home Buyer Rescission Period: What REALTORS®Need to Know Course Now Live!
by Harveen Dhaliwal
Dec 01, 2022
by Harveen Dhaliwal Dec 01, 2022
Advocacy
Federal Foreign Buyers Ban is in Effect
by British Columbia Real Estate Association Jan 09, 2023
by British Columbia Real Estate Association Jan 09, 2023
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.
Learn more.
So they can support you.
Learn more.
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The Home Buyer Rescission Period (HBRP)
The Home Buyer Rescission Period (HBRP) was implemented province-wide on January 3, 2023. To learn more about HBRP and what this means for REALTORS®, follow the link below (BCREA Access login required).
Learn more
The Home Buyer Rescission Period (HBRP) was implemented province-wide on January 3, 2023. To learn more about HBRP and what this means for REALTORS®, follow the link below (BCREA Access login required).
Learn more
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INDUSTRY INSIGHTS
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Callout to REALTORS®: What’s Your Experience with the Home Buyer Rescission Period?BCREA is looking for testimonials from REALTORS® whose clients have exercised the Home Buyer Rescission Period.Posted Feb 01, 2023
by Matt Mayers -
BCREA NowcastThe BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for November 2022 is 3.7 per cent.
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Land Title and Survey Authority of BC Seeking Expressions of InterestLand Title and Survey Authority of BC is seeking for expressions of Interest for their Board of Directors.Posted Jan 31, 2023
by Morgan Guo -
A Guide to Recessions and the BC Housing MarketThe latest Market Intelligence report summarizes how past Canadian recessions have impacted the BC economy and housing market and look forward to how the BC housing market may perform during a potential 2023 recession.Posted Jan 19, 2023
by Brendon Ogmundson -
Housing Market Update – January 2023Watch BCREA Economist Brendon Ogmundson discuss the December 2022 statistics.Tags: Housing Market Update VideosPosted Jan 16, 2023
by Brendon Ogmundson -
Home Sales Decline in 2022 After a Record 2021BCREA reports that 80,874 residential unit sales were recorded by MLS® in 2022, a 35.2 per cent decline from a record 124,788 units sold in 2021.Posted Jan 12, 2023
by Brendon Ogmundson -
2022 Advocacy Year-in-ReviewWith 2022 now in the rear-view mirror, BCREA’s Government Relations department reflects on a busy and eventful year.Tags: A Better Way Home Foreign Buyers Ban Government Relations Local Government Shake up Provincial Government Leadership UBCM Year in ReviewPosted Jan 10, 2023
by Mark Sakai -
Federal Foreign Buyers Ban is in EffectFor a period of two years starting January 1, 2023, non-Canadians are banned from purchasing homes in Canada. Here’s what you need to know.Tags: Foreign Buyers Foreign Buyers Ban policy Purchase of Residential Property by Non-Canadians Act Real Estate PracticePosted Jan 09, 2023
by British Columbia Real Estate Association -
Markets at a GlanceThese 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 Jan 09, 2023
by Ryan McLaughlin -
2023 BC Property AssessmentsThe 2023 BC Property Assessments are now available online through BC Assessment, and homeowners can expect to receive their notices in the mail by the end of January 2023.Posted Jan 09, 2023
by Ivonne García -
Housing Monitor DashboardThe BCREA Economics team has created the Housing Monitor Dashboard to help REALTORS® monitor BC’s housing market.Posted Jan 03, 2023
by Ryan McLaughlin -
Prohibition on Rental and Age Restrictions in Strata Buildings #556REALTORS® need to be aware of the impact the changes in the Building and Strata Statutes Amendment Act, 2022 for existing owners, buyers, and sellers.Posted Dec 21, 2022
by Lisa Niro -
VIDEO: Home Buyer Rescission Period, What Consumers Need to KnowREALTORS® must provide their clients with general information about the right of rescission and be prepared for the diverse scenarios they may find while exercising the right of rescission.Posted Dec 13, 2022
by Ivonne García -
Housing Market Activity Remains Slow in NovemberBCREA reports that a total of 4,512 residential unit sales were recorded by the MLS® in November 2022, a decrease of 50.8 per cent from November.Posted Dec 13, 2022
by Brendon Ogmundson -
Helping Homeowners and Buyers Navigate New Federal Tax ChangesThe federal government is introducing new tax changes that may impact homeowners and potential homebuyers beginning January 1, 2023.Tags: Federal Tax Changes Multigenerational Home Renovation Tax Credit Real Estate Practice Residential Property Flipping Rule TaxesPosted Dec 12, 2022
by Matt Mayers -
Mortgage Rate ForecastDespite the decline in bond yields from where they peaked in early October, we have not seen an adjustment to five-year fixed rates as lenders wait for a clear signal on the direction of their funding costs.Tags: Mortgage Rate ForecastPosted Dec 09, 2022
by Brendon Ogmundson -
How Do Amendments to the Strata Property Act Impact You?There are two significant changes impacting REALTORS® dealing with strata properties, as well as their clients.Tags: Age Restrictions Real Estate Practice Rental Restrictions Strata Properties Strata Property ActPosted Dec 02, 2022
by Matt Mayers -
To Rescind or Not to Rescind…It’s important for REALTORS® working with buyers to fully understand the obligations of the parties and the consequences when a buyer wishes to exercise the option to rescind a contract.Posted Dec 02, 2022
by Jim McCaughan -
CLI Falls in Third Quarter 2022The BCREA Commercial Leading Indicator fell to 149 from 153 in the third quarter of 2022 while the six-month moving average retreated from a record high.Posted Dec 01, 2022
by Ryan McLaughlin -
The Home Buyer Rescission Period: What REALTORS® Need to Know Course Now Live!BCREA has developed a new course to equip REALTORS® and managing brokers with a strong foundation to not only understand the new rules but also apply them in their practice.Posted Dec 01, 2022
by Harveen Dhaliwal -
Stay Cool – New Home Buyer Rescission Period for Residential Real Properties Coming January 3, 2023 #555BC’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 regulationPosted Nov 28, 2022
by Amy Peck -
BCREA Online Courses Updated to Reflect Regulatory ChangesWith 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 2022This 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 -
‘Tis the Season… to Test for RadonAs a REALTOR® you can help your buyers and sellers to test and mitigate radon in your community. Check our resources here.Tags: Radon Real Estate PracticePosted Nov 14, 2022
by Ivonne García -
REALTORS® and Radon: Protecting Buyers and SellersAs a REALTOR®, understanding radon risks is both your professional responsibility and an opportunity to ensure your clients are protected…Tags: Radon Real Estate PracticePosted Nov 14, 2022
by British Columbia Real Estate Association -
BC Home Sales Remain Slow While Active Listings PlateauBCREA 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 AnsweredLearn more about the Home Buyer Rescission Period which is expected to be implemented province-wide in January 2023.Tags: A Better Way Home BCFSA Consumer Protection Cooling Off Period Home Buyer Rescission Period Homebuyer Protection Period Real Estate PracticePosted Nov 10, 2022
by Matt Mayers -
BCREA 2022 Fourth Quarter Housing Forecast: Housing Market Faces High Rates and Slowing Economy in 2023In 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.Tags: Housing ForecastPosted Nov 08, 2022
by Brendon Ogmundson -
Canada’s Foreign Buyer Ban Begins in JanuaryWhile 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.Tags: Foreign Buyer Ban Foreign Buyers policy Purchase of Residential Property by Non-Canadians Act Real Estate PracticePosted Nov 04, 2022
by Matt Mayers -
Webinar: Preparing for the Home Buyer Rescission Period, Regulatory and Practice ResourcesEnhance 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 -
Webinar Recording: 2022 BCREA Director Applicant Information SessionOctober 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.Tags: BCREA Board of DirectorsPosted Nov 03, 2022
by Morgan Guo -
The F Word: Protecting Yourself and Your Clients from Fraud #554REALTORS® 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 RoundtableAt 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 -
BC Municipal Elections: Local Governments Need to Address Housing AffordabilityAs 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.Tags: 2022 BC Civic Elections Elections Housing Affordability Housing Policy Housing Supply Local Elections Local GovernmentPosted Oct 14, 2022
by British Columbia Real Estate Association -
Registration Now Open for 2023 Banff Western ConnectionRegistration is open for Banff Western Connection 2023 taking place from January 26-28, 2023 at the Fairmont Banff Springs Hotel in Banff, Alberta.Tags: Banff Western Connection BWCPosted Oct 12, 2022
by Ivonne García -
BC Market Activity Remains Subdued in SeptemberBCREA 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 CommunitiesIn 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 AffordabilityAt 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 HomesThe 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 #553Listing 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,Tags: Contracts provisions Residential Tenancy Residential Tenancy Act Tenanted Properties Vacant possessionPosted Oct 04, 2022
by Lisa Niro -
Apply Now: Join BCREA’s Board of DirectorsBCREA is seeking REALTOR® and public candidates to join our Board of Directors for the 2023-24 term.Tags: BCREA Board of DirectorsPosted Oct 03, 2022
by Morgan Guo -
UPDATE: COVID-19 Recovery DashboardThe 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 -
BCREA and Real Estate Board Delegates Join Discussion on Housing Affordability at 2022 Union of British Columbia Municipalities ConventionLast 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 ActivityBCREA 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 Access: Explore Five Useful Resources Available NowUsing 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 #552Ensuring you’re well prepared upfront with the proper documentation, the best information and best practices, REALTORS® can help prevent client remorse.Tags: Buyers Acknowledgement of Information CMA Housing Market Market Value Practice Tips Property Value RemorsePosted 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 23On August 23, BCREA is launching BCREA Access, a new platform for REALTORS® to securely access resources from BCREA.Posted Aug 11, 2022
by British Columbia Real Estate Association -
BC Home Sales Continue to Slow in JulyThe 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.Tags: Community of Practice Consumer Protection Cooling Off Period Homebuyer Protection Period PDP Professional Development Program Real Estate Practice Resources for REALTORS® Standard FormsPosted Jul 28, 2022
by Shaheed Devji -
Getting to Informed Consent: Explaining Listing Agreements to Clients #551Better 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 2023The 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.Tags: A Better Way Home Consumer Protection Cooling Off Period Homebuyer Protection Period Pre-Offer Period Real Estate PracticePosted Jul 21, 2022
by British Columbia Real Estate Association -
High Mortgage Rates Keeping Potential Buyers SidelinedBCREA 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 ConstructionKnow 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® TradeshowFrom 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 #550Despite 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 2022The 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 RecommendationsOn 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 ActivityBCREA 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 SectorMeet 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 RegulatorAfter 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.Tags: A Better Way Home BC Financial Services Authority BCFSA Consumer Protection Cooling Off Period Pre-Offer Period Real Estate PracticePosted May 30, 2022
by British Columbia Real Estate Association -
Avoid Costly Mistakes Concerning the Foreign Buyers’ Tax #549A 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.Tags: Foreign Buyer’s Tax TaxationPosted May 26, 2022
by Oana Hyatt -
BC REALTORS® Advocate for Better Consumer Protections During 2022 Government Liaison DaysOn May 10 and 11, many REALTORS® from across BC convened to discuss government liaison issues and met with their local MLAs.Tags: A Better Way Home Cooling Off Period Development Approvals Housing Affordability Housing Supply Real Estate PracticePosted May 25, 2022
by Matt Mayers -
BCREA Standard Forms Housekeeping Amendments Spring 2022On 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 ClimateBe prepared for unexpected wildfires and flooding this season.Tags: Climate Change Preparedness Flood Protection Flood Risks Floodplain Mapping Wildfire Season WildfiresPosted May 13, 2022
by Pearl Zhou -
BC Home Sales Trending Toward Normal ActivityBCREA 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 AwardsThe 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 MarketBCREA’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 #548The 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.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 EconomyHere 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 BuyersThis pilot project is the collective effort of the BCREA, Association of Interior REALTORS® and Technical Safety BC.Tags: Manufactured HomePosted Apr 14, 2022
by British Columbia Real Estate Association -
Strong First Quarter for BC Housing Markets, But Rising Rates Loom LargeThe 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 EstateOn April 7, Budget 2022 was introduced with a significant focus on the supply and affordability of housing in Canada.Tags: Blind Bidding Canadian Government Climate Change Preparedness Development Approvals Federal Budget Flipping Foreign Buyer’s Tax Foreign Buyers Housing Affordability Housing SupplyPosted Apr 08, 2022
by Matt Mayers -
Cybersecurity Tips for REALTORS®: Multifactor AuthenticationEnsuring 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.
Subscribe on your favourite podcast app, including Apple Podcasts, Google Podcasts, Spotify, Stitcher, and TuneIn.