Janie Cranfield

BCREA Nowcast

BC Monthly Real GDP Estimate for May 2021 & Preliminary Estimate for June 2021 (Updated: August, 3 2021) The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for May 2021 is 11.3 per cent. For comparison, year-over-year growth in the Canadian economy in May was 14.6 per cent. We

UPDATE: COVID-19 Recovery Dashboard

The dashboard was last updated on July 29, 2021. To view the COVID-19 Recovery Dashboard PDF, click here. The BCREA Economics team has created the COVID-19 Recovery Dashboard to help REALTORS® monitor BC’s economic recovery. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province’s state

Housing Market Update – July 2021

Watch BCREA Chief Economist Brendon Ogmundson discuss the June 2021 statistics. [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/Vn_pp7Xukww” frameborder=”0″ allowfullscreen style=”position:absolute;top:0;left:0;width:100%;height:100%;” ][/iframe] Click here to visit our YouTube channel. Read the news release here. For more information, please contact: Brendon Ogmundson Chief Economist Direct: 604.742.2796 Mobile: 604.505.6793 Email: [email protected] To subscribe to receive BCREA publications such as this

UPDATE: 2021 Changes to Your Anti-Money Laundering Obligations

FINTRAC: What’s Changed Using LOTR Last updated: June 1, 2021 Overview New and revised regulatory amendments from the Financial Transactions & Reports Analysis Centre of Canada (FINTRAC) are now in effect and BCREA has created this resource page to help REALTORS® and brokerages understand their new FINTRAC obligations and how to use BC’s Land Owner Transparency

COVID-19: Resources for REALTORS®

Last updated: July 1, 2021 The provincial state of emergency that was in place for more than a year has now been lifted. For British Columbians, this means unlimited indoor and outdoor personal gatherings, an end to mask mandates and the freedom to travel within Canada. For REALTORS®, this means the option to return to

Anti-Money Laundering Resources

Background Resources Advocacy Last updated: February 10, 2021 Ensuring REALTORS® have the resources to meet anti-money laundering requirements is an important step towards keeping money from criminal activity out of BC’s housing market. BCREA has created this dedicated page to help Realtors access BCREA’s anti-money laundering resources. Throughout the fall, we’ll add to these resources

Fall 2020 Standard Forms Release

Background Resources Quick Links Last updated: October 2, 2020 This page contains background information on the Fall 2020 Standard Forms Release, information and resources to help Realtors prepare for use of the forms, and quick links to other relevant resources. BCREA will update this page as new information and resources are available. Background On September

Sketching Out the Potential Impact of COVID-19 on the BC Housing Market

To view the Market Intelligence Report PDF, click here. Summary Findings: While it’s unknown how the unfolding COVID-19 outbreak will impact the economy in the long-term, BC is facing a sudden stop in economic activity with little guidance to when things may return to normal. Based on our scenario analysis, BC home sales and prices

Estimating the Impacts of the Speculation and Vacancy Tax

To view the Market Intelligence Report PDF, click here. Summary Findings: While all BC markets experienced sharp declines since 2018, the Speculation and Vacancy tax (SVT) is estimated to have reduced home sales in taxable regions in BC by an additional 12.5 per cent compared to non-taxable regions. Growth in home prices since 2018 is

Ideas into Action: BCREA Managing Brokers’ Conference

Register today for BCREA’s second Managing Brokers’ Conference and join managing and associate brokers from across BC on October 16 and 17 at the Coast Capri Hotel in beautiful Kelowna for a day of networking and learning! This year’s conference theme is Ideas into Action, and the all-day conference on October 17 will take an

Pitfalls in Transactions Involving Strata Condominiums #516

A recent Civil Resolution Tribunal decision1 highlights some important practice points for licensees in transactions involving strata condominiums. The buyer of a strata condominium claimed against the seller’s agent in misrepresentation and false advertising arising from the description of the building as having a “fully rainscreened exterior” in the MLS® listing. The buyer was surprised

Organized Real Estate Wants You!

Join BCREA’s Board of Directors BCREA is seeking REALTORS® for its Board of Directors, for election at its next AGM on March 24, 2020. Ideally, the candidates should have served previously on boards of directors in organized real estate and should come equipped with governance and a range of business skills and backgrounds, including commercial.

RECBC and BCREA Work Together to Change Regulatory Education

The Real Estate Council of BC (RECBC) and the British Columbia Real Estate Association (BCREA) have signed an agreement that will see the management of regulatory education for real estate professionals transition to RECBC in the fall of 2019. Through this agreement, RECBC will increase its oversight, control and direct involvement in the development and

In a Bind Over Home Insurance?

How to secure coverage during wildfire season Most buyers won’t realize there’s a difference between an insurance company giving them a quote for an insurance policy and an insurance company binding an insurance policy. But as a REALTOR®, you certainly should. When an insurance provider “binds” an insurance policy it means they’ve issued the policy

REALTOR® Safety Quiz

How high do you score? One of the best parts of being a REALTOR® are the relationships you build with clients. Still, getting to know new clients isn’t without risk and veteran REALTORS® all have their stories of awkward or even dangerous situations they’ve experienced over the years. There are lots of resources available online

Pooled Registered Pension Plans

A retirement savings option for REALTORS® REALTORS® in BC are generally classified as self-employed. Self-employed individuals who don’t have access to a workplace pension plan need to consider other retirement savings options. A Pooled Registered Pension Plan (PRPP), which pools your assets with those of others to reduce administration costs, is one option that you

New WEBForms® Platform to Launch in July

CREA ready for early rollout in BC Good news from the Canadian Real Estate Association (CREA)—the new WEBForms® platform will be available in BC as early as mid-July. CREA will reach out to BC REALTORS® who are using WEBForms® about a week before the launch date with some training materials and to announce the exact

Anti-Money Laundering: Opportunities for Action

A public inquiry into money laundering has now been ordered. This has been a media favourite for a long time, and certainly since the reports of Peter German and the Expert Panel on Money Laundering in BC Real Estate were published on May 9. Here’s a quick summary of BCREA’s actions, analysis and how we’re