Commercial Leading Indicator Dips in Third Quarter 2021

To view the full Commercial Leading Indicator PDF, click here. The BCREA Commercial Leading Indicator (CLI) fell from 155.4 to 150.9 in the third quarter of 2021, representing the first decline since the economy began recovering from the COVID-19-induced recession. Compared to the same time last year, the index was up by 9 per cent.

The Increasing Cost of Misconduct (#544)

Prior to September 30, 2016 the Real Estate Service Act (Act) limited monetary penalties for brokerages and licensees to $20,000 and $10,000 respectively. However, as of September 30, 2016, the Legislature amended section 43(2)(ii) of the Act to allow for monetary penalties of up to $500,000 in the case of brokerages and $250,000 in any other case.

Land Owner Transparency Registry Filing Extended to 2022

The Land Owner Transparency Registry (LOTR) filing deadline has been extended to November 30, 2022, without incurring penalties. This extension gives reporting bodies with interests in land more time to file a transparency report.  According to the BC government, they “heard from legal professionals in BC that pre-existing owners need more time to gather information about ownership and prepare to file with the registry.” 

UPDATE: COVID-19 Recovery Dashboard

The dashboard was last updated on November 25, 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

What is “Blind Bidding?” An Introduction for REALTORS®

As a result of competitive market conditions and escalating housing prices, BC’s real estate regulator, the BC Financial Services Authority (BCFSA), is developing a consultation on “blind bidding” to understand whether regulatory changes to real estate transaction could improve protection for homebuyers. This announcement was paired with news in early-November that the BC Government intends

Fall 2021 Standard Forms Release Now Available on WEBForms®

The new and revised standard forms, schedules and clauses included in BCREA’s Fall 2021 Standard Forms Release are now available on WEBForms®! BCREA has now released 11 new standard forms and schedules, as well as multiple clauses and form revisions, to help REALTORS® enhance their professionalism and adapt to changing best practices. Prior to the

Most BC Communities Lack Resources to Create, Maintain Floodplain Maps: Report

Vancouver, BC – November 24, 2021. BC’s REALTORS® have been mobilizing to help communities hit hardest by the recent flooding and historic rainfalls, from fundraising to support the Red Cross to partnering with helicopter companies to fill more than 16 helicopters with emergency supplies for Abbotsford and Merritt. The British Columbia Real Estate Association (BCREA)

Registration Now Open for 2022 Banff Western Connection

Registration is now open for the upcoming Banff Western Connection Conference taking place from January 27-29, 2022 at the Fairmont Banff Springs Hotel in beautiful Banff, Alberta. The conference will kick off on Thursday, January 27 with pre-conference sessions and an opening reception, followed by two full days of exciting, relevant, and informative sessions all

What is a Cooling Off Period? An Introduction for REALTORS®

The BC Government has announced its intent to introduce legislation in spring 2022 to mandate a cooling off period for buyers of all residential real estate. But what is a “cooling off period” and how might it impact you? A cooling off period, also known as a “rescission period,” gives buyers the right to withdraw from a

REALTORS® Invited to 2021 Standard Forms Post-Launch Q&A Webinar

Already have questions about the upcoming Fall 2021 Standard Forms Release? Join us on December 2, 2021 for a FREE one-hour virtual Q&A session for REALTORS® to get real-time answers to any questions you may have. Why attend? This Q&A webinar will provide an opportunity for Realtors to ask questions they may have about the

BC Housing Market at Historically Low Level of Supply

For the complete news release, including detailed statistics, click here. Vancouver, BC – November 10, 2021. The British Columbia Real Estate Association (BCREA) reports that a total 9,593 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October 2021, a decrease of 13.7 per cent from October 2020. The average MLS® residential price

BCREA Responds to Government Announcement on Cooling Off Period

For Immediate Release Vancouver, BC – November 5, 2021. As a result of market conditions over the past year, the British Columbia Real Estate Association (BCREA) is aware that many British Columbians have been unsuccessful and left frustrated when trying to purchase a home. We support making homeownership more achievable for people in BC, however, the

PODCAST: Using Coaching to Build Trust (October 2021)

Open House by BCREA logo

Across the province, REALTORS® and brokerages are engaged in innovative work to support the real estate profession and the public. And we want to share those stories. On this episode of Open House by BCREA, explore an innovative way to build trusting, successful relationships with your clients through our conversation with Mark Winter. Mark is a