BCREA Supports BC Government’s Money Laundering Investigations

Vancouver, BC – November 27, 2018. As the provincial association for BC’s 11 regional real estate boards and 23,000 REALTORS®, the British Columbia Real Estate Association (BCREA) is deeply concerned by a recent news report that suggests up to $1 billion may have been laundered through Vancouver luxury real estate in 2016. BCREA continues to

Duelling Regulators #508

Recent amendments to the Real Estate Services Act (RESA) granting the Superintendent of Real Estate (Superintendent) greater oversight over the Real Estate Council of BC (Council) resulted in a recent jurisdictional clash between the two regulators.1 In February 2016, in response to concerns about real estate licensee conduct, the Superintendent established an Independent Advisory Group

Dynamic, Knowledgeable, Relatable: Meet the New BCREA!

Vancouver, BC – November 19, 2018. The British Columbia Real Estate Association (BCREA) is excited to launch a new brand identity reflecting the Association’s commitment to leadership and excellence in serving BC’s 11 regional real estate boards and 23,000 REALTORS®. “The new BCREA is dynamic, knowledgeable and relatable – just like the REALTORS® we serve,”

New Updates to Property Disclosure Statement Form

As of October 29, 2018, updated versions of the Property Disclosure Statement Strata/Residential/Land and Building/Addendum Land and Building/Land forms are in effect. These standard forms have been updated to reflect the legalization of cannabis and are now available on WEBForms®. Update 1: Change to question in Clause 4a When completing the form, a REALTOR® should

Conference for Managing Brokers: BCREA Question Responses

On September 19, BCREA hosted our first BCREA Advocacy Exchange: Conference for Managing Brokers. The conference provided a unique opportunity for managing brokers, licensees and stakeholders from across the province to network, learn about advocacy and hear from key organizations in the industry. Conference attendees posed many insightful questions throughout the day, using an online platform that

Balanced Conditions Prevail in BC Housing Market

For the complete news release, including detailed statistics, click here. Vancouver, BC – November 14, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 6,405 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in October, down 26.2 per cent from the same month last year.

BCREA’s Provincial Lobbying Conference: Government Liaison Days

On October 15 and 16, 90 delegates met at the Hotel Grand Pacific in Victoria for BCREA’s Government Liaison (GL) Days. Please click here to view the GL Days 2018 summary video. The conference gave attendees the opportunity to first familiarize themselves with this year’s three advocacy priorities—transparency in real estate transactions, limited dual agency and tax fairness for owners

Headway on Housing Affordability

Market housing affordability matters to everyone. British Columbians in communities of all sizes need more options for housing that is affordable, safe and appropriate to their family needs. While there’s no magic solution, BCREA believes government and the private sector can work together to build a comprehensive plan that’s effective and fair. In our submission

Real Estate Transparency to Build Public Confidence

On September 27, Attorney General David Eby and Minister of Finance Carole James announced a two-pronged approach to review money laundering in real estate. BCREA shares the government’s concerns about potential vulnerabilities, and we immediately reached out to offer insights into both reviews. For 18 years, REALTORS® have been subject to federal anti-money laundering regulations