April van Ert

Protecting Buyers – and Yourself – in a Hot Market

With interest rates at record lows and not enough available housing stock to meet demand, buyers are willing to take risks to clinch a deal. Still, as a REALTOR®, they look to you for information on managing those risks. As you work in your client’s best interest, in advising them don’t forget to manage your

BCREA Condemns Sexualized Violence

We at the BC Real Estate Association are deeply disturbed by recent allegations of sexual assault by REALTORS® against members of the Victoria community. Above all, our thoughts are with individuals who have shared their experiences. We acknowledge the courage it takes to come forward as a survivor of sexual assault and support investigations into

New Tutorial Videos Focus on Common Standard Forms

BCREA has added to its suite of video tutorials for REALTORS® on key standard forms with the launch of three new video series: Contract of Purchase and Sale Listing Contracts Buyer’s Agency Exclusive Contract The Contract of Purchase and Sale series explains some of the most important aspects of this standard contract that is a central

Strata Depreciation Reports: What REALTORS® and Clients Need to Know

With more than 1.5 million British Columbians living in strata housing, not to mention all the commercial, industrial and mixed-use stratas in BC, it’s important that REALTORS® understand a key tool in assessing the condition of a strata property: the depreciation report. Here’s a quick primer on what you need to know and how to learn more.

Planning for Post-COVID-19 Economic Recovery

BCREA’s Recommendations for the Next Provincial Government With British Columbians being asked to head to the polls on October 24, BCREA is advocating with all parties to ensure that market housing affordability is a cornerstone of the province’s COVID-19 economic recovery plan. “The COVID-19 pandemic has made market housing affordability inequities more apparent than ever,”

Banff Western Connection Cancelled

Due to COVID-19 the 2021 Banff Western Connection Conference, which was to be held in January 2021 at the Fairmont Banff Springs Hotel in Banff, Alberta, has been cancelled. Banff Western Connection means so much to all of us at BCREA and we’re disappointed to share this news. However, it’s important that we all remain

BCREA Chief Economist Re-appointed to Economic Forecast Council

British Columbia Real Estate Association (BCREA) Chief Economist Brendon Ogmundson has been re-appointed as a member of the Province of British Columbia’s Economic Forecast Council until July 2023. Ogmundson was invited to extend his current term by Minister of Finance Carole James. “COVID-19 has had unprecedented impacts on BC’s economy,” says Ogmundson. “Now more than ever, I welcome

CERB or CEWS: Which Federal Aid is Right for You?

If you are a REALTOR® trying to understand whether you should apply for the Canada Emergency Response Benefit (CERB) (due to launch April 6) or the Canada Emergency Wage Subsidy (CEWS) (launch details unavailable) there are two questions to ask yourself: Are you self-employed? Have you incorporated as Personal Real Estate Corporations (PREC) and receive

LTSA Continues to Meet Demand

More than 8500 applications processed this week While Land Title and Survey Authority of British Columbia (LTSA) has introduced social distancing measures in their offices, such as restricting access to staff, direct access pass-holders and Registry Agents, it’s keeping up with customer demand and expects to remain open for business. In a statement posted on

BCREA Welcomes Change to Stress Test

Vancouver, BC – February 19, 2020. As the voice of BC’s 23,000 REALTORS®, the British Columbia Real Estate Association (BCREA) welcomes Minister of Finance Bill Morneau’s announcement of changes to the benchmark rate used to determine the minimum qualifying rate for insured mortgages, also known as the “stress test”. Minister Morneau announced that as of April 6,

Managing Brokers’ Conference Now Open To All REALTORS®

egistration for BCREA’s upcoming Ideas Into Action Managing Brokers’ Conference is now open to all REALTORS®. The conference, taking place at Kelowna’s Coast Capri Hotel on October 16-17, will focus on issues facing managing brokers but the topics are sure to be of interest to all REALTORS®. Plus, attendees receive 3 category C PDP credits.

Underground Storage Tanks: A Refresher #434

Legally Speaking

By Jennifer Clee For properties built before 1957, the presence of an underground oil storage tank (UST) poses significant environmental and financial risk to buyers and sellers. Not only are properties with USTs at risk of oil contamination from leaking or eroding USTs, properties adjacent to the affected properties are at risk as well. Provincial

Passing Information Accurately #433

In a real estate deal, a client depends on the licensee to accurately relay information between the parties. This is especially critical where the licensee is a limited dual agent. A recent Real Estate Council of British Columbia disciplinary decision makes the point.1 Beginning in 2005, the licensee acted as the owner’s property manager for

Ownership Protected – Mortgage Fraud and the Land Title Act #432

By Edward L. Wilson Lawson Lundell LLP There are very few instances of mortgage fraud involving the registration of fraudulent mortgages in the Land Title Office. A recent Court of Appeal decision addressed the situation where a fraudster forged an owner’s signature to a transfer of the owner’s lot, transferring title to the fraudster’s accomplice