Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “Sotheby’s International Realty Canada, Victoria office, is proud to support our community with our “5 Ways You Can Have a Positive Impact on Your Community in a Trying Time” campaign, posted boldly in …
By Ellen Baragon, Guest Contributor The federal government’s Regional Relief and Recovery Fund (RRRF) could assist brokers who, for various reasons, have not been able to take advantage of other programs such as the Canada Emergency Business Account (CEBA). The $1 billion fund was launched in May to support small to medium businesses struggling to recover …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “As of late, we have had a lot of emotions with all that has been going on in the world, and have been feeling helpless. After brainstorming about the ways in which we …
Recently the Canadian Real Estate Association (CREA) uploaded a Coronavirus Statement & Consent form to WEBForms® for REALTORS® to use with clients. In signing the form, clients state that they currently don’t have any COVID-19 symptoms and haven’t been in contact with anyone with symptoms. The person signing the form is also giving the brokerage …
By Ellen Baragon, Guest Contributor (This post was updated June 2 to include the government of BC’s new order preventing landlords who are eligible for CECRA from evicting tenants.) On Monday, June 1, BC’s Minister of Finance Carole James announced a new order under the Emergency Protection Act prohibiting commercial landlords who are eligible for …
Episode 7 of Open House by BCREA, Returning to Work and Risks to REALTOR® Reputation, features a conversation with Ari Indyk, VP Crisis and Risk at Edelman. With BC entering Phase 2 of its Restart Plan and Realtors and Managing Brokers beginning to resume work in larger numbers, Ari highlights some of the potential risks …
This post, originally titled “Government Announcement on Renters and Landlords – What it Means for Realtors”, was updated on May 28, 2020 following the two-week extension of BC’s State of Emergency. On May 27, 2020, Premier John Horgan extended BC’s state of emergency until June 9, 2020. This means that the Residential Tenancy Order (RTO), …
Last year, Minister of Finance Carole James announced that the BC Government intends to integrate the Office of the Superintendent of Real Estate and the Real Estate Council of British Columbia into the BC Financial Institutions Commission (BCFSA) by 2021. Minister James, 2019 BCREA President Michael Trites and BCREA CEO Darlene Hyde at BCREA’s 2019 …
By Ellen Baragon, Guest Contributor More changes have been made to the federal government’s Canada Emergency Business Account (CEBA) that makes the program more available to REALTORS®. The new provisions address some gaps that were evident when CEBA was first unveiled, which excluded some real estate business models. The latest amendments to CEBA make the program …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “Supporting the community is a core value at Team Randy Mann Homes. With a wealth of support from Realtors in our network – the bulk of which stems from our very own Stonehaus …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “We saw an opportunity to shift the focus and support our community during this critical time. Our agents are happy to see a portion of their office fees redirected to support this worthwhile …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “I enjoy the privilege of delivering chef-prepared meals to vulnerable members of our community.” During the COVID-19 pandemic, Michael Loewen, REALTOR® with Royal LePage Kelowna and member of the Okanagan Mainline Real Estate Board, …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “I chose to volunteer with Chilliwack Community Services because of all the wonderful programs they have in place that help so many people in this community and I just wanted to be …
As of May 1, 2020, British Columbians can apply here for the BC Emergency Benefit for Workers (BCEBW). The BCEBW is a one-time, tax-free $1,000 payment for British Columbians whose ability to work has been affected by the COVID-19 pandemic. If you are eligible for the Canada Emergency Response Benefit (CERB) you are likely eligible …
In April, BCREA launched our Managing Broker Community of Practice, a virtual community where managing brokers can connect, find important information, hear from guest speakers, and share best practices. The current focus of the Community of Practice is supporting managing brokers with information around the COVID-19 pandemic. Based on the needs of the community, the …
As REALTORS®, the hustle and bustle of your lives may have quieted due to the COVID-19 pandemic. However, it doesn’t mean you can’t keep busy during this time as you continue to practice social distancing and following government recommended guidelines. Whether you’re continuing to try and conduct business, or are simply looking for ways to …
During the COVID-19 pandemic, conducting live virtual tours can help real estate business to continue while keeping REALTORS® and clients safe. A live virtual tour, not to be confused with an open house, is a tour of a seller’s property, during which the seller, seller’s Realtor, buyer and buyer’s Realtor are all present using virtual …
Canada Revenue Agency (CRA) has launched an online calculator to help employers estimate the amount of wage subsidy they can expect if they apply for the Canada Emergency Wage Subsidy (CEWS). This calculator will help you to determine some specific line amounts that you will need to enter into the CEWS application form once it …
REALTORS® with Personal Real Estate Corporations who pay themselves dividends can apply for the Canada Emergency Relief Benefit (CERB), as long as they meet other eligibility criteria. On April 6, 2020, the federal government extended CERB eligibility criteria to include self-employed workers who pay themselves with dividends. According to the CERB government website, non-eligible dividends …
BCREA is diligently working to keep BC’s REALTORS® informed of the evolving real estate landscape during the COVID-19 pandemic. Preparing your clients for a real estate transaction during a pandemic means being able to explain to them not only how you’ve adapted your business and protocols to reflect the current conditions, but also how related …
By Gerald G. Clerx (Success Partner, Engage BRILLIANTLY Training Group) The current pandemic has created a lot of anxiety within the real estate community – it’s a stressful time for everyone. Buyers are uneasy about the future of their investment as well as their ability to qualify and make mortgage payments and sellers are concerned about …
By Anna Jones, CPA, CA (Partner, Church Pickard) The Canada Emergency Wage Subsidy (CEWS) and Temporary Wage Subsidy (read about them here) are just two financial aid programs available to managing brokers as small business owners. The Work-Sharing Program, Canada Emergency Business Account and recently announced Canada Emergency Commercial Rent Assistance programs can all help …
If you have a Personal Real Estate Corporation (PREC), navigating Canada’s COVID-19 aid programs can seem even more complicated. If you receive a T4 from your PREC and you meet the Canada Emergency Relief Benefit (CERB) income threshold requirement (read more here), you’ll want to calculate which is more beneficial, the CERB or the wage …
Episode 5, Conducting Business During COVID-19, features a conversation with Kim Spencer, also known as the “Ethics Guy.” He is a PDP instructor and Manager of Professional Standards at the Real Estate Boards of Greater Vancouver, and on this episode discusses moral, ethical, and practical questions related to REALTORS® working during the COVID-19 pandemic. [div …
REALTORS®, like many other professionals who rely heavily on face-to-face interaction to conduct business, have quickly had to change the way they meet with colleagues and clients during the COVID-19 pandemic. While the change may be a lot for some, tools like Zoom have made meeting virtually easier than ever. But a significant increase in …
On April 15th, the Government of Canada broadened the Canada Emergency Response Benefit (CERB) criteria by allowing applicants to earn up to $1,000 in each four-week eligibility period. People who are eligible for Employment Insurance or sickness benefits or who have exhausted their Employment Insurance benefits between December 29, 2019 and October 3, 2020 are …
While there is still uncertainty about how CERB and CEWS applies to REALTORS®, the government continues to evolve the programs and BCREA continues to advocate on Realtors behalf.
As COVID-19 continues to impact the way REALTORS® conduct business, virtual showings and living-streaming of open houses have become useful tools for Realtors looking to replace traditional in-person viewings. In support of virtual practices, the Canadian Real Estate Association (CREA) has introduced a new feature on REALTOR.ca that allows Realtors to highlight live stream open …
A REALTOR® cannot be held liable for damages resulting from someone being or likely being infected with or exposed to COVID-19, whether directly or indirectly, as a result of the Realtor providing real estate agent services, according to an order issued by the Minister of Public Safety and Solicitor General on April 2. This order, …
This post was updated on April 3, 2020 to include additional information on remote witnessing of affidavits in support of land title applications. Even with the Land Title and Survey Authority’s (LTSA) notice temporarily allowing for affidavits for use in land title applications to be taken remotely (by video), there may still be other documents …
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 …
In order to apply for the new Canada Emergency Response Benefit (CERB), expected to launch April 6, you must first have an online account with Canada Revenue Agency (CRA), called CRA My Account. The British Columbia Real Estate Association (BCREA) recommends that all REALTORS® who intend to apply for CERB and who do not yet …
REALTORS® are being challenged to meet obligations to clients who they entered into a business relationship with before social distancing orders came into effect and to meet the needs of new clients who may need to buy or sell despite the pandemic. This means they’re often caught in the crossfire of client expectations and civic …
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 …
The COVID-19 virus is impacting more than people’s health. It’s changing our travel plans, how we do business and the larger economy. REALTORS® also need to adjust to protect themselves and their clients. The National Association of REALTORS® (NAR) has put together this great resource – we’ve listed some key Q&As below. What’s the most …
[div id=”buzzsprout-player-2854297″][/div] [script src=”https://www.buzzsprout.com/831562/2854297-the-changing-landscape-of-strata-insurance-in-bc.js?container_id=buzzsprout-player-2854297&player=small” type=”text/javascript” charset=”utf-8″][/script] Open House by BCREA is a monthly podcast where REALTORS® will find the latest real estate news and feature conversations with experts on issues related to real estate practice in BC. Learn more about the show here. Episode 2, The Changing Landscape of Strata Insurance in BC, features a …
Whether it’s home insurance for homeowners, life insurance for families, or business insurance for business owners, insurance is a big part of life. Former international soccer star David Beckham reportedly had his legs insured for 195 million dollars. And it makes sense – if you’ve got something you value, you protect it. But Beckham’s protection …
Lead generation is an important part of a REALTOR®‘s work but there are some risks too, especially when it comes to telemarketing. REALTORS® and brokerages need to understand their role in protecting consumer privacy before picking up the phone – and it starts with the national Do-Not-Call List. What’s the national Do-Not-Call List? The Canadian …
2020 has already gotten off to an eventful start for REALTORS® – the new Professional Development Program framework came into effect on January 1 and the Real Estate Council of BC announced it has developed a new mandatory anti-money laundering course for all real estate licensees. Here at BCREA, we’re rolling up our sleeves and …
Droughts, water restrictions and wildfires have all become part of a typical BC summer, just like Okanagan cherries or a BC Day barbecue. Despite all of BC’s lakes and rivers, the truth is that water scarcity is a serious concern. That’s why the provincial government introduced the Water Sustainability Act in 2016, which requires anyone diverting and …
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 …
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 …
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 …
Cashless deposits aren’t mandatory, but they sure are best practice So your clients have put an offer down on their dream property. The offer is accepted and the next step is to put down the deposit. In most cases, your client will already have contacted their bank and lined everything up to make the transfer. …
What your clients need to know Whether your clients are buying or selling a home, unpermitted work—any renovation or modification made to a home for which the appropriate municipal building or other permits were not obtained—can prove to be problematic if not dealt with head-on. For sellers: disclose, disclose, disclose As the listing brokerage, you …
If you’re looking to reduce errors and omissions when it comes to completing FINTRAC individual identification and receipt of funds forms, you might want to check out the FINTRACKER™ app created by Forward Form Solutions Inc. The app is meant as a digital FINTRAC reporting solution for real estate professional to help reduce human error, …
When that little squirrel becomes a big problem Invasive species come with a series of problems, especially if you’re not aware of the risks. Whether you’re a REALTOR® conducting business on Vancouver Island, or northern BC, understanding what invasive species are found in your area is the first step in helping your client avoid those …
There are a lot of myths out there about REALTORS®, real estate transactions and money laundering. Unfortunately, the public has nowhere to go get unbiased information about REALTORS®’ roles in identifying criminal activity. That’s why BCREA has created an infographic for REALTORS® to share with their networks and help consumers understand the role of REALTORS® …
In November, the Canadian Real Estate Association (CREA) announced it will be transitioning to a new service provider for CREA WebForms® in 2019. The new CREA WEBForms® will be powered by the leading transaction management platform TransactionDesk® by Lone Wolf Technologies. The Fraser Valley Real Estate Board (FVREB) first developed WEBForms and sold it to CREA in …
Relationships change – whether it’s between friends, family or a REALTOR® and a client. Sometimes, relationships come to a natural conclusion, like when a REALTOR® helps a client buy a home, meaning that terms of the Exclusive Buyer’s Agency Agreement have been met. The British Columbia Real Estate Association (BCREA) provides REALTORS® and their clients …
BC’s approach to real estate licensing is unique. Since 2016, we’ve had two regulators: This co-regulatory system has not worked very well, as noted by the independent review released by Minister of Finance Carole James on September 27. Real Estate Regulatory Structure Review was prepared by lawyer Dan Perrin. He found that the current system is unsustainable, …
The new Disclosure of Referral Payment form and corresponding education guide, are now available on WEBForms®. As per Section 3-3(f) of the Real Estate Services ActRules, a licensee is required to disclose to a client “all known material information respecting real estate services” being provided. If a licensee has agreed to pay a referral payment, this is material …
REALTORS® do more than buy and sell homes—they care deeply about the communities in which they live, work and play. That’s why, through BCREA, REALTORS® advocate for provincial policies that support a thriving rental housing market. BCREA supports increasing the supply of rental stock to ensure that British Columbians have access to housing options. We …
Obtaining an ENERGY STAR certification can be a great way to add value to a listing. They use less energy, cost less to operate, and produce fewer greenhouse gas emissions. On average, homes with the certification are 20 per cent more energy efficient than new homes, and approximately 83 per cent of Canadians recognize the …
Fire safety is important for all homeowners, and it can be a great selling point for REALTORS®. Having a home sprinkler system can greatly minimize damages from home fires, and can even save money on insurance. On February 22, the Fire Chiefs’ Association of British Columbia will host a Home and Family Sprinkler Summit for …
On December 13, the federal Minister of Finance announced a plan to simplify changes to the Income Tax Act. For the 2018 tax year, several categories of business owners will be exempt from the new rules on income sprinkling. Under the new rules, the following exemptions will apply: For business owners aged 65 or older, sprinkling …
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.
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