The COVID-19 pandemic has deeply affected many parts of our society and economy – including the real estate industry. Terms many of us hadn’t heard of just three months ago – social distancing, self-isolation, lockdown, and Zoom conferencing – are now as common as, “What’s for lunch?” Buying real estate, particularly in a caveat emptor …
Episode 7 of Open House by BCREA, Returning to Work and Risks to REALTOR® Reputation, features a conversation with Ari Indyk, VP Crisis and Risk at Edelman. With BC entering Phase 2 of its Restart Plan and Realtors and Managing Brokers beginning to resume work in larger numbers, Ari highlights some of the potential risks …
In June, we will be publishing the first post in “Standard Forms Spotlight,” a regular series of blog posts that will help REALTORS® enhance their understanding and build their knowledge of the many intricacies around provincial standard forms and clauses used in real estate transactions in BC. Published monthly, the blog posts will address common …
This post, originally titled “Government Announcement on Renters and Landlords – What it Means for Realtors”, was updated on May 28, 2020 following the two-week extension of BC’s State of Emergency. On May 27, 2020, Premier John Horgan extended BC’s state of emergency until June 9, 2020. This means that the Residential Tenancy Order (RTO), …
As a participant in the Cullen Commission, BCREA is providing information about the daily practice realities in real estate. Our participation will help strengthen consumer protection measures and limit money laundering in the real estate sector. The Cullen Commission, established in May 2019, is conducting videoconferencing hearings from May 25 to June 30, 2020. BCREA …
Strata insurance costs are rising in many parts of the province, threatening families’ housing affordability. With at least one-quarter of British Columbians living in strata units, BCREA is looking for solutions to this housing crisis. Rising strata insurance costs are a complex issue requiring a basket of solutions to foster a robust, economically viable market. …
Last year, Minister of Finance Carole James announced that the BC Government intends to integrate the Office of the Superintendent of Real Estate and the Real Estate Council of British Columbia into the BC Financial Institutions Commission (BCFSA) by 2021. Minister James, 2019 BCREA President Michael Trites and BCREA CEO Darlene Hyde at BCREA’s 2019 …
By Ellen Baragon, Guest Contributor More changes have been made to the federal government’s Canada Emergency Business Account (CEBA) that makes the program more available to REALTORS®. The new provisions address some gaps that were evident when CEBA was first unveiled, which excluded some real estate business models. The latest amendments to CEBA make the program …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “Supporting the community is a core value at Team Randy Mann Homes. With a wealth of support from Realtors in our network – the bulk of which stems from our very own Stonehaus …
Highlights: BC’s unemployment rate 11.5 per cent in April, would have been 16.8 percent if underutilized workers included Services sector bears the brunt of physical distancing measures Younger workers have been more impacted, particularly younger women Since the pandemic was declared in March 2020, an unprecedented number of jobs have been lost in a very …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “We saw an opportunity to shift the focus and support our community during this critical time. Our agents are happy to see a portion of their office fees redirected to support this worthwhile …
In just two months, COVID-19 has completely reshaped our society, from our personal and professional lives to our economy and housing market. But to paraphrase Dr. Bonnie Henry, we are only at the end of the beginning. There is more change to come. Join BCREA on Wednesday, May 27 at 10:00 am PST for the …
Last month, BCREA updated the Property Disclosure Statement Standard Forms and released an accompanying guide to explain the revisions. Among the changes to these forms was the removal of the term “material” in relation to latent defects, the inclusion of questions about radon gas, and updated language around cannabis. In tandem with the form updates, …
For the complete news release, including detailed statistics, click here. Vancouver, BC – May 13, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 3,284 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April 2020, a decline of 50.8 per cent from April 2019. The average MLS® residential …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “I enjoy the privilege of delivering chef-prepared meals to vulnerable members of our community.” During the COVID-19 pandemic, Michael Loewen, REALTOR® with Royal LePage Kelowna and member of the Okanagan Mainline Real Estate Board, …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “I chose to volunteer with Chilliwack Community Services because of all the wonderful programs they have in place that help so many people in this community and I just wanted to be …
These are unprecedented times with the arrival of COVID-19. We have all heard that many times and it’s true for all industries, including real estate. Although the market has slowed down, there will still be deals made and deals completed. There will also still be claims made against licensees. For the most part, these claims …
As of May 1, 2020, British Columbians can apply here for the BC Emergency Benefit for Workers (BCEBW). The BCEBW is a one-time, tax-free $1,000 payment for British Columbians whose ability to work has been affected by the COVID-19 pandemic. If you are eligible for the Canada Emergency Response Benefit (CERB) you are likely eligible …
Episode 6, How to Stay Productive During COVID-19, features a conversation with Chris Linsell, a staff writer at The Close. Chris is an experienced REALTOR® from the United States and now focuses most of his time on writing about real estate. He joins us to discuss his recent article “21 Hidden Opportunities for Realtors Under …