Collaboration Between Parties and Levels of Government Key to Housing Affordability in Canada

With another minority government headed to Ottawa after this month’s federal election, collaboration between parties will be key to a functional Canadian government. This is especially true when it comes to making homeownership more achievable in Canada according to the British Columbia Real Estate Association (BCREA). The Liberals, Conservatives and NDP all made increasing supply

UPDATE: COVID-19 Recovery Dashboard

The dashboard was last updated on September 24, 2021. The BCREA Economics team has created the COVID-19 Recovery Dashboard to help REALTORS® monitor BC’s economic recovery. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province’s state of emergency. To monitor the province’s progress, we

PODCAST: Serving on the BCREA Board of Directors (September 2021)

Open House by BCREA logo

On October 1, BCREA will begin accepting applications from REATLORS® and members of the public interested in becoming a part of the BCREA Board of Directors for the upcoming term. On this episode of Open House by BCREA we talk about volunteering in the real estate sector and becoming a member of the BCREA Board of

BCREA Education Programs Win 2021 ARELLO Awards

Update – September 24: This blog post previously referenced a third award win for BCREA’s Open House by BCREA podcast. This has been removed as ARELLO mistakenly issued this award. BCREA has won two ARELLO awards recognizing outstanding communication systems and educational programs related to real estate regulation and practice in North America. BCREA was recognized for the Managing Broker Community of Practice, and Mastering

New Tutorial Videos for REALTORS® Explore Fee Agreements

In BCREA’s latest release of tutorial videos for BC REALTORS®, we explore three important standard forms: the Fee Agreement Buyer Pays (Buyer and Seller Not Represented) form, the Fee Agreement Seller Pays (Buyer and Seller Not Represented) form, and the Fee Agreement Seller Pays (Buyer Represented Seller Not Represented) These tutorial videos are intended to

Enforce Your Rights, or Lose Them #542

Anyone who has been involved in a transaction for a property under construction is likely familiar with the potential for delays of completion. While developers don’t often fail to deliver, it can happen. What happens when significant delays do occur? Can a developer be in default under the contract? What about the innocent party in

Get Ready for Mastering Compliance: Anti-Money Laundering Training for Brokers

BCREA’s popular self-paced education program, Mastering Compliance: Anti-Money Laundering Training for Brokers, is back! This year’s program is touted as “Mastering Compliance 2.0,” with enhancements incorporating feedback from last year. Mastering Compliance: Anti-Money Laundering Training for Brokers helps managing brokers, compliance officers and administrative staff who contribute to FINTRAC compliance at their brokerage meet FINTRAC’s

Mortgage Rate Forecast

To view the Mortgage Rate Forecast PDF, click here. Highlights Delta variant of COVID-19 drives global bond yields lower Canadian economy unexpectedly contracts in the second quarter Bank of Canada on hold a little longer? Mortgage Rate Outlook It was another quiet quarter in the Canadian mortgage market. Canadian five-year fixed rates moved essentially sideways

BC Home Sales Returning to Normal While Supply Hits Record Low

For the complete news release, including detailed statistics, click here. Vancouver, BC – September 14, 2021. The British Columbia Real Estate Association (BCREA) reports that a total 9,507 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August 2021, a decrease of 7.1 per cent over August 2020. The average MLS® residential price

Get to Know BCREA Standard Forms: The Backbone of Real Estate Transactions

As a new REALTOR®, knowing which forms to use for a transaction may seem daunting at first. To ensure Realtor success and confidence, BCREA collaborated with the province’s ten real estate boards, lawyers, and other industry experts to draft and update standard forms for Realtors in BC. These forms are the backbone of real estate

New Statutory Holiday on September 30, National Day for Truth and Reconciliation

September 30 is National Day for Truth and Reconciliation, a new federal statutory holiday. The day recognizes the colonial legacy of residential schools, honour Indigenous survivors, and is vital to the ongoing reconciliation process. This statutory holiday means federally regulated sectors such as banks will be closed in observance of the national day. The Bank

Election Housing Promises Destined to Fail Without Detailed Plans to Increase Supply

For Immediate Release Vancouver, BC – September 1, 2021. The British Columbia Real Estate Association (BCREA) is encouraged by the focus on housing affordability as a key priority in each of the major party’s platforms in the lead-up to September’s federal election. However, while parties pledge to build more homes and make purchasing easier, without detailed plans to quickly turn those promises into action that will increase supply, campaign promises will lead to municipal bottlenecks, failed policy and disappointed homebuyers.  “We