UPDATE: Have Your Say on Changes to Administrative Penalties
TAGS: Office of the Superintendent of Real Estate (OSRE) Real Estate Council of BC (RECBC)
The new deadline for this consultation on changes to administrative penalties is November 13, 2020 (announced by the Office of the Superintendent of Real Estate and Real Estate Council of British Columbia on October 27, 2020).
In mid-September, the Office of the Superintendent of Real Estate (OSRE) and the Real Estate Council of BC (RECBC) launched a public consultation on proposed changes to administrative penalties. The objective of the proposed changes is to speed up the outcomes of the regulatory discipline process to allow RECBC to focus more resources on more serious rule infractions. The proposed changes will divert many contraventions from the hearing process and instead subject them to penalties. The number of contraventions subject to penalties will be nearly doubled and penalty amounts will also increase for most contraventions.
BCREA is working with member boards to gather input from REALTORS® and learn from what we hear to provide recommendations to the regulators. We conducted focus groups with Realtors, met with board staff and experts and obtained legal advice.
We’re still drafting our response to the consultation where we will provide comments, questions and recommendations to the regulators. We will advocate for more resources and support for licensees from the regulators to help prevent contraventions or correct unintentional mistakes.
The consultation backgrounder, Questions and Answers, proposed changes and online survey can be found here. The current deadline for submission is October 30. The deadline may be extended, but OSRE cannot announce an extension during an election period. These proposed changes will have a significant impact on the disciplinary process for Realtors. We encourage all Realtors to participate in the consultation by sharing their personal insights and expertise.
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