Harveen Johal

BC REALTORS® Adapt “Open House” Practices to Protect Consumers

For Immediate Release Vancouver, BC – July 8, 2020. The British Columbia Real Estate Association (BCREA), the Real Estate Council of British Columbia, and the Office of the Superintendent of Real Estate, with support from WorkSafeBC, have developed guidance to support BC’s REALTORS® in adapting traditional “open house” practices to keep consumers safe. While BC

COVID-19 Community Care: Brokerage Raises $17,000 for Local Food Bank

Over the past several months, we’ve been sharing stories about the many REALTORS® across BC who are supporting their communities through the COVID-19 pandemic. For now, this will be the last post in the COVID-19 Community Care series. “A huge thanks to our fantastic agents, to Trinity Church and to the people of Kelowna, West Kelowna

REALTORS® Are Facing Significant Hardship Due to COVID-19

The vast majority of BC REALTORS® – 91 per cent – have faced either a decrease of income or no income from transactions since the provincial state of emergency was announced on March 17, 2020. The reported loss of income was consistent among all boards, licence categories and both commercial and residential practice. The data

Suing for Unpaid Deposits #527

Generally speaking, if a buyer breaches a contract for the purchase of real estate and the seller accepts the buyer’s refusal to perform the contract (as known as “repudiation”), an innocent seller is entitled to retain the deposit paid by the buyer under a contract of purchase and sale. But what happens when a buyer

Help Your Clients Understand the Multiple Listing Contract

BCREA has created a video for REALTORS® to share with clients to help them better understand the Multiple Listing Contract (MLC), which is used in many real estate transactions in BC. One of two common listing contracts in BC, the MLC is used when a seller engages a Realtor to list their property on the

Mortgage Rate Forecast

To view the Mortgage Rate Forecast PDF, click here. Highlights Mortgage rates fall to record low Canadian economy in recession, but is a recovery on the horizon? Bank of Canada hits its effective lower bound…again Mortgage Rate Outlook The second quarter of 2020 will perhaps prove to be one of the most turbulent periods in

BC REALTORS® Support BCFSA Interim Findings On Rising Strata Insurance

For Immediate Release Vancouver, BC – June 17, 2020. The British Columbia Real Estate Association (BCREA) welcomes the BC Financial Services Authority’s (BCFSA) interim findings on the unprecedented rise in strata insurance premiums and deductions. On behalf of BC’s 23,000 REALTORS® and 11 real estate boards, BCREA has also developed a series of recommendations for

Housing Market Activity Shows Signs of Recovery in May

For the complete news release, including detailed statistics, click here. Vancouver, BC – June 15, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 4,518 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May 2020, a decline of 45.2 per cent from May 2019. The average MLS® residential