Advocacy

New BCREA Research Finds Funding is Key to Adequate Floodplain Mapping in BC

Since 2015, only 38.5 per cent of BC communities and First Nations have created or updated floodplain maps, according to new research published by the British Columbia Real Estate Association (BCREA) in the 2021 BC Floodplain Maps Inventory Report (for complete functionality, please download the PDF after clicking on the link). The report, which identifies

Expert Panel Recommends Meaningful Action to Increase Housing Supply

The Expert Panel on Housing Supply and Affordability established by the governments of Canada and BC to examine housing trends for rental and homeownership has published its final report, with 23 recommendations for the provincial and federal governments. The panel was created in September 2019 to explore the issues of housing supply and affordability and

BCREA’s Virtual Government Liaison Days

On May 4 and 5, over 80 attendees from all around BC participated in BCREA’s Government Liaison Days. At this virtual conference, attendees learned about how the government can improve housing supply as well as energy efficiency in homes. REALTORS® then met with their MLAs to discuss the impact in their communities. Energy efficiency Realtors

One Financial Services Regulator Coming This Summer

In March, amendments to the Real Estate Services Act (RESA) received Royal Assent, paving the way for a single financial services regulator in BC, including real estate. On May 19, the British Columbia Financial Services Authority (BCFSA) announced that the Office of the Superintendent of Real Estate (OSRE) and Real Estate Council of BC (RECBC)

Housing Supply Takes Centre Stage During GL Days Live Sessions

BCREA would like to thank all the REALTORS® who participated in this year’s annual Government Liaison (GL) Days live sessions on May 4 and 5. Realtors from across the province convened virtually to learn about policies to address the two issues of improving housing supply and energy efficiency in homes. In addition to discussion around

Sustainable Homes: Understanding What Homebuyers Want

Are homebuyers willing to pay more for a sustainable home than a conventional one? What features do homebuyers value most when it comes to sustainable homes? These are some of the questions students from BCIT’s Sustainable Business Leadership Program are hoping REALTORS® will help them answer by participating in a short online survey. The survey

Federal Budget Recap: Foreign Buyers Tax Concerning, Other Measures Welcomed

On April 19, Canada’s Minister of Finance Chrystia Freeland introduced the Liberal government’s first budget since the beginning of the COVID-19 pandemic. The budget provides significant funds to many programs, including several to assist homeowners and renters, increasing the federal deficit by an estimated $382 billion, but also includes measures which are concerning to BCREA.

What to Know About BCREA’s Government Liaison Days Happening in May

Government Liaison (GL) Days is an annual event where REALTORS® meet with MLAs across BC, speaking with a united voice to advocate for key housing-related issues and improving Quality of Life in BC communities. This event has a long history, first taking place in Victoria in 1988. Due to COVID-19, participants won’t be able to

Teams Consultation: BCREA-Real Estate Board Response

On April 1, BCREA and the ten BC real estate boards made a joint submission to the Office of the Superintendent of Real Estate (OSRE) and the Real Estate Council of British Columbia (RECBC) in response to their consultation on regulating real estate teams. The regulators’ interest in teams came up as a result of

BCREA Advances Anti-Money Laundering Recommendations

Illegal funds have no place in BC’s real estate market. Real estate playing an important role in the lives of British Columbians, serving as one of the key economic drivers in the province. BCREA shows leadership on behalf of REALOTRS® by advocating for smart policy to ensure integrity and transparency and supporting Realtors to help

OSRE Wants Your Input Into Real Estate Teams

The Office of the Superintendent of Real Estate (OSRE) invites REALTORS® and others to give input into the regulation of real estate teams by participating in a survey open until Friday, April 2, 2021. OSRE has been working with the Real Estate Council of BC (RECBC) to consider how to enhance the regulation of teams

OSRE Announces Five Recommendations to Support Managing Brokers

On Tuesday, February 9, the Office of the Superintendent of Real Estate (OSRE) announced five preliminary recommendations to support managing brokers as part of a report into the role of managing brokers in real estate transactions.  The study was completed in collaboration with the Real Estate Council of BC (RECBC) and with input from BCREA,

Administrative Penalties Expanded

Today, the Office of the Superintendent of Real Estate (OSRE) and the Real Estate Council of British Columbia (RECBC) announced changes to the Real Estate Rules to expand the use of administrative penalties (APs). OSRE first proposed these rule changes in September 2020, in a consultation that attracted nearly 600 responses – including a detailed

RECBC Approves 10 Per Cent Hike in Licensing Fees

Effective April 1, 2021, The Real Estate Council of BC (RECBC) will increase their biennial licensing fees from $1,800 to $2,000. RECBC members approved the proposed increase on January 18, following a short consultation beginning in December 2020. The new fee structure will be implemented, subject to objections from Minister of Finance Selina Robinson. Licensing

How REALTORS® Help Prevent Money Laundering in Real Estate: Identifying and Reporting Suspicious Transactions

By: Ellen Baragon, guest contributor Brokerages, managing brokers, compliance officers, brokerage staff and REALTORS® are uniquely positioned to assess certain aspects of a real estate transaction that others may not have access to. By complying with your professional obligations to file a Suspicious Transaction Report (STR) and share suspicious transaction information with the Financial Transactions

BCREA Advocacy 2020 Year in Review

2020 was an eventful year that required BCREA to adapt to many unexpected challenges. As with most British Columbians, the COVID-19 pandemic required changes how we conduct our practices. We have learned just how resilient and adaptable BC’s Realtors can be, showing leadership and coming together to help flatten the COVID-19 infection rate. Below are