When Cooperatives Become Uncooperative #520

When we think of residential occupation, our minds turn to fee simple ownership, strata property ownership or maybe rental occupation. A lesser known but growing form of housing is cooperative housing under the Cooperative Association Act SBC 1999 c.28 (“Act”). Unlike strata ownership, members of a cooperative do not own a specific unit. Members of

Keeping Clients Out of Hot Water Over Groundwater Licencing

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

In Memorium: Dick Pemberton

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

Revised Council Disclosure Forms Better Meet Consumer Needs

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

That’s a Wrap! Rave Reviews and Follow-up Resources from the Managing Brokers’ Conference

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 Brings REALTOR® Perspective to Inquiry into Money Laundering

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,

BCREA Prepares Recommendations for Province’s Review of Managing Brokers

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

Ministry of Finance Announces Shift to Single Regulator

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

Home Sales Continue Normalization Trend in October

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

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