BC’s Homebuyer Protection Period: What’s Next for REALTORS®?

After the BC Government’s announcement introducing initial details of the upcoming Homebuyer Protection Period to take effect in real estate transactions in January 2023, you might be wondering, what’s next? REALTORS® are at the front lines of real estate transactions in BC, so a change in the way transactions are conducted will have an impact

Updated Online Anti-Money Laundering Course Now Available for REALTORS®

When the final report and recommendations from the Commission of Inquiry into Money Laundering in BC were released earlier this year, there was a clear theme: more can be done in BC when it comes to anti-money laundering.  So, to help REALTORS® better understand anti-money laundering reporting and compliance requirements from the Financial Transactions and

BC Government to Implement Homebuyer Protection Period in January 2023

The BC Government has created regulations that will enable a mandatory three-day Homebuyer Protection Period (HPP), previously called a “cooling off period,” on January 1, 2023. While BCREA supports enhanced consumer protection measures for real estate consumers, we are extremely disappointed by this announcement. We anticipate that the HPP will not be an effective measure,

High Mortgage Rates Keeping Potential Buyers Sidelined

For the complete news release, including detailed statistics, click here. Vancouver, BC – July 12, 2022. The British Columbia Real Estate Association (BCREA) reports that a total of 7,136 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June 2022, a decrease of 35.7 per cent from June 2021. The average MLS® residential