When floods strike, individuals and communities are subject to significant economic and social costs. Many British Columbians are unaware of the flood risk they face, due to out-of-date floodplain maps. BC has the opportunity to take steps to minimize damage from future floods—this is the purpose of the British Columbia Real Estate Association’s (BCREA) initiative …
The Strata Property Act took effect on July 1, 2000, and was a significant improvement over the Condominium Act. Nonetheless, no legislation is perfect and the intervening years have provided ample opportunity for real estate practitioners and others to identify improvements that can be made. BCREA Recommends the Provincial Government: Ensure legislation specifies what is required to be …
Flooding poses catastrophic risks to BC’s economic vitality, safety, environment, property owners and communities. BCREA’s flood protection work focuses on floodplain maps, a strong role for the provincial government and education for REALTORS® and their clients. BCREA Recommends the Provincial Government: Take the lead, working with local and federal governments, to ensure floodplain maps are …
The residential real estate market is a continuum, with social housing on one end and luxury housing on the other. Rental housing and market housing affordability are important components that help keep the continuum operating smoothly, ensuring appropriate housing options for all and matching supply with demand. BCREA recommends that governments: Ensure the Property Transfer …
On January 1, 2005, the Real Estate Services Act and Real Estate Development Marketing Act were brought into force. These statutes replace Parts 1 and 2 of the former Real Estate Act. Real Estate Services Act Real Estate Development Marketing Act BCREA believes that changes to the practice of real estate must be made with care to avoid unintended negative …
A recent Civil Resolution Tribunal decision1 highlights some important practice points for licensees in transactions involving strata condominiums. The buyer of a strata condominium claimed against the seller’s agent in misrepresentation and false advertising arising from the description of the building as having a “fully rainscreened exterior” in the MLS® listing. The buyer was surprised …
To view the Market Intelligence Report PDF, click here. Summary Findings: The decline in home sales in 2018 was largely due to market factors like interest rates and affordability Without the stress test, home sales in BC would have been about 7,500 sales—or 10% higher—in 2018 Approximately $500 million in BC economic activity was lost …
For the complete news release, including detailed statistics, click here. Vancouver, BC – July 15, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 6,960 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June, a decline of 11.8 per cent from the same month last year. The …
Join BCREA’s Board of Directors BCREA is seeking REALTORS® for its Board of Directors, for election at its next AGM on March 24, 2020. Ideally, the candidates should have served previously on boards of directors in organized real estate and should come equipped with governance and a range of business skills and backgrounds, including commercial. …
The Real Estate Council of BC (RECBC) and the British Columbia Real Estate Association (BCREA) have signed an agreement that will see the management of regulatory education for real estate professionals transition to RECBC in the fall of 2019. Through this agreement, RECBC will increase its oversight, control and direct involvement in the development and …
On June 20, the Canadian government passed legislation confirming October 17, 2018 as the legalization date for non-medicinal cannabis. Under the legislation, individuals will be able to grow up to four cannabis plants per residence. Four plants may not sound like much, but what if it’s grown in a closet? Or a 600-square foot strata …