BCREA and Member Board Delegates Advocate for Improved Housing Attainability at 2023 Union of BC Municipalities Convention

Last week, BCREA and five BC real estate boards sent delegates to the Union of BC Municipalities (UBCM) Convention in Vancouver to meet with local and provincial political leaders and staff. Throughout the event, BCREA’s delegates strongly advocated for greater housing attainability, and distributed a brief to elected officials containing two recommendations described below. Our

2023 Managing Brokers’ Conference: A Guide to Concurrent Sessions

In the dynamic world of real estate, knowledge is power, and managing and associate brokers are key influencers in shaping the industry’s future. To help equip them with the necessary tools and resources they need for success, BCREA has put together a compelling list of concurrent sessions taking place at the 2023 Managing Brokers’ Conference

BCREA’s Managing Broker Advisory Committee: Providing Insights to Supporting BC’s Real Estate Profession

The Role of Managing Brokers In the dynamic world of British Columbia’s real estate market, managing brokers play a pivotal role in overseeing transactions and guiding REALTORS® within the profession. Their responsibilities encompass supervision, mentorship, and maintaining compliance with the Real Estate Services Act (RESA). Recognizing the increasing complexity of the managing broker’s role, BCREA

Call for Participants to Join our Focus Group to explore Mandatory Written Buyer Service Agreements

Are you interested in shaping the future of real estate transactions in British Columbia? We are excited to announce that we are looking for enthusiastic individuals to participate in a focus group discussion exploring mandatory written buyer service agreements. This initiative resulted from consultation with the sector and was proposed by BCREA in their White

BCREA’s Legal Defence Fund: Safeguarding the Sector

The real estate marketplace is a dynamic, demanding environment, and sometimes REALTORS®, despite their best intentions, may experience legal challenges that could negatively impact the sector as a whole. That’s why BCREA created the Legal Defence Fund (LDF) to support REALTORS® by contributing to legal costs, where applicable, related to issues of provincial significance.  

Auckland’s Housing Supply Experiment: What Does it Mean for British Columbia’s Homes for People Plan?

Vancouver, BC – September 26, 2023. As British Columbia continues to grapple with an ongoing housing crisis, a new economic report reveals how the province’s Homes for People housing plan can expand housing supply and improve housing affordability by following the blueprint of New Zealand’s Auckland Unitary Plan (AUP). According to the latest Market Intelligence

Updated Professional Development Course — Economics for REALTORS®: Why You Should Incorporate Economics into Your Practice

In today’s competitive market, staying ahead of the curve regarding economic trends is crucial, especially for REALTORS®. As real estate is so intertwined with the broader economy, REALTORS® who understand how to analyze and apply economic trends can incorporate this knowledge into their practice and help their clients make more informed decisions. With this in

Mortgage Rate Forecast

To view the Mortgage Rate Forecast PDF, click here. Highlights Bank of Canada tightening sends mortgage rates to 15-year highs Are high rates finally impacting economic growth? How far will fixed mortgage rates fall once the Bank of Canada lowers its policy rate? Mortgage Rate Outlook Hotter than expected spring inflation and a resurgent housing

Sales Trend Slightly Lower in August

For the complete news release, including detailed statistics, click here. Vancouver, BC – September 13, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 6,608 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in August 2023, an increase of 15.7 per cent from August 2022. The average MLS® residential

Commercial Leading Jumps in Second Quarter 2023

To view the full Commercial Leading Indicator PDF, click here. The BCREA Commercial Leading Indicator (CLI) rose 0.6 points to 147 in the second quarter of 2023, while the six-month moving average fell to 147. Compared to the same quarter in 2022, the index was down by 4.7 per cent. It is important to note

Beware of Heritage or Archaeological Issues #564

Beware of Heritage or Archaeological Issues

When looking for a property to develop or redevelop, prudent buyers are well advised to investigate the suitability of the property for their plans prior to committing to purchase it. Depending on the property and the type of development, this may include researching or retaining the appropriate professionals to research and advise on any zoning