With another minority government headed to Ottawa after this month’s federal election, collaboration between parties will be key to a functional Canadian government. This is especially true when it comes to making homeownership more achievable in Canada according to the British Columbia Real Estate Association (BCREA). The Liberals, Conservatives and NDP all made increasing supply …
When parliament next meets it will look very similar to what it looked like prior to the election, although there may be big changes coming to the real estate sector based on the Liberal Party’s campaign platform. This blog post provides a look at the Liberal party’s policy platforms that, if implemented, could impact BC’s …
As of August 26 there were nearly 243 wildfires in BC, impacting over 3,700 properties with evacuation orders. According to a recent report by the Intergovernmental Panel on Climate Change (IPCC), these sorts of extreme weather events are likely to become more severe in the future. If current greenhouse gas emission levels remain the same, …
On August 1, the BC Financial Services Authority (BCFSA) assumed the Real Estate Council of BC (RECBC) and the Office of the Superintendent of Real Estate (OSRE) to become the only real estate regulator. BCFSA is a ‘super-regulator,’ regulating not only real estate but also credit unions, trust companies, insurance companies, pension plans and mortgage …
All parties are pledging to drastically increase housing supply, with the Liberal Party leading the race by pledging 1.4 million new homes; the Conservative Party pledging 1 million new homes; and the New Democrat Party (NDP) promising 500,000 new homes. While these lofty ambitions show that housing is top-of-mind for all three parties, it’s important …
In the most unsurprising of events, the writ has been dropped and Canadians will head to the polls on September 20 to vote for their next Member of Parliament. BC is certain to be a significant battleground for political parties. It’s no coincidence that party leaders Justin Trudeau, Erin O’Toole and Jagmeet Singh have already …
UPDATE: This post was updated on August 1 to include the new BCFSA link to the July 2021 Report from Council. A previous link from the Real Estate Council of BC website no longer exists. BC’s revised Real Estate Services Rules also come into effect on August 1. Click here to learn more. To find …
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 …
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 …
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 …
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) …
On May 19, the British Columbia Financial Services Authority (BCFSA) published a status update regarding the integration of the Office of the Superintendent of Real Estate (OSRE) and Real Estate Council of BC (RECBC) into the BCFSA to create a single regulator for BC’s financial services sector. In the news release published on its website, …
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 …
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 …
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. …
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 …
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 …
On March 9, the BC legislature approved changes to the Real Estate Services Act (RESA) contained in Bill 8: Finance Statutes Amendment Act, 2021. None of the changes will take effect immediately. Over the next weeks and months, BCREA will work with the regulators to understand the impact of all of the changes and to …
On March 2, Bill 8: Finance Statutes Amendment Act, 2021 was introduced in the BC Legislature. With its introduction, the BC Government’s intention to create a single financial services regulator, including real estate, announced in September 2019, was finally made clear. The bill creates the path for the Office of the Superintendent of Real Estate …
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 …
The British Columbia Real Estate Association acknowledges that our head office is located on the unceded traditional territories of the Coast Salish Nations of Sḵwx̱wú7mesh (Squamish), səl̓ilwətaɁɬ (Tsleil-Waututh), and xwməθkwəy̓əm (Musqueam). We also acknowledge the other 195 First Nations in British Columbia, as these are the lands we each call home.
Copyright © 2021 British Columbia Real Estate Association | Privacy Policy | Terms of Use