BCREA Launches Energy-Efficient and Sustainable Homes Course

BCREA has launched Energy-Efficient and Sustainable Homes, a new online, accredited, self-paced course, designed for REALTORS® to learn about the characteristics of a sustainable, energy-efficient home. And explore various sustainability programs (e.g., LEED, R-2000, BC Step Code, Passive House) that go beyond the minimum building code requirements in BC. This course also introduces the “House

Administrative Penalties Expanded

Today, the Office of the Superintendent of Real Estate (OSRE) and the Real Estate Council of British Columbia (RECBC) announced changes to the Real Estate Rules to expand the use of administrative penalties (APs). OSRE first proposed these rule changes in September 2020, in a consultation that attracted nearly 600 responses – including a detailed

RECBC Approves 10 Per Cent Hike in Licensing Fees

Effective April 1, 2021, The Real Estate Council of BC (RECBC) will increase their biennial licensing fees from $1,800 to $2,000. RECBC members approved the proposed increase on January 18, following a short consultation beginning in December 2020. The new fee structure will be implemented, subject to objections from Minister of Finance Selina Robinson. Licensing

BCREA 2021 First Quarter Housing Forecast Update: Provincial Housing Market Set Up for Very Strong 2021

To view the BCREA Housing Forecast Update PDF, click here. Vancouver, BC – January 25, 2021. The British Columbia Real Estate Association (BCREA) released its 2021 First Quarter Housing Forecast Update today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to rise 15.6 per cent to 108,680 units this year, after recording

What the Co-Listing Separate Representation Form Means for REALTORS®

By Ellen Baragon, Guest Contributor BCREA’s Co-Listing Separate Representation form was developed so that multiple sellers who have opposing interests are able to engage different brokerages – or different agents within the same brokerage – to represent their interests in the sale of a property. The Co-Listing Separate Representation amends certain sections of the Listing

New Tutorial Videos Focus on Common Standard Forms

BCREA has added to its suite of video tutorials for REALTORS® on key standard forms with the launch of three new video series: Contract of Purchase and Sale Listing Contracts Buyer’s Agency Exclusive Contract The Contract of Purchase and Sale series explains some of the most important aspects of this standard contract that is a central

Updated Guidance for Real Estate Practice During COVID-19

UPDATE (January 14, 2021): As the spread of COVID-19 continues to be a concern, restrictions from the Provincial Health Officer (PHO) on social gatherings and non-essential travel, and a requirement for masks in public indoor spaces are still in effect until at least February 5, 2021. Updated guidance on safer showings from BCREA, the Real

How REALTORS® Help Prevent Money Laundering in Real Estate: Identifying and Reporting Suspicious Transactions

By: Ellen Baragon, guest contributor Brokerages, managing brokers, compliance officers, brokerage staff and REALTORS® are uniquely positioned to assess certain aspects of a real estate transaction that others may not have access to. By complying with your professional obligations to file a Suspicious Transaction Report (STR) and share suspicious transaction information with the Financial Transactions

Strong December Home Sales Close Out an Unprecedented Year

For the complete news release, including detailed statistics, click here. Vancouver, BC – January 13, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 93,953 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2020, an increase of 21.5 per cent from the 77,350 units sold in 2019. The

New Videos Highlight Key Areas of Contract of Purchase and Sale

By Ellen Baragon, Guest Contributor Given that the Contract of Purchase and Sale (CPS) is a foundational document to any real estate transaction, REALTORS® need to know the fine details that can make or break a Contract of Purchase and Sale. To that end, BCREA has created a new tutorial video series that reviews key aspects

Strata Depreciation Reports: What REALTORS® and Clients Need to Know

With more than 1.5 million British Columbians living in strata housing, not to mention all the commercial, industrial and mixed-use stratas in BC, it’s important that REALTORS® understand a key tool in assessing the condition of a strata property: the depreciation report. Here’s a quick primer on what you need to know and how to learn more.

BCREA Advocacy 2020 Year in Review

2020 was an eventful year that required BCREA to adapt to many unexpected challenges. As with most British Columbians, the COVID-19 pandemic required changes how we conduct our practices. We have learned just how resilient and adaptable BC’s Realtors can be, showing leadership and coming together to help flatten the COVID-19 infection rate. Below are