Standard Forms

New Video Helps Clients Understand the Disclosure of Referral Payment Form

| June 1, 2023

BCREA has created a new video to help REALTORS® explain the Disclosure of Referral Payment form to their clients. A REALTOR® often pays referral fees to people who have referred business to them which could include referring someone to work with them as one of their clients. [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/-qPy7F-DRp0″ frameborder=”0″ allowfullscreen style=”position:absolute;top:0;left:0;width:100%;height:100%;” ][/iframe] …

Working With Buyers… Get it in Writing

| February 21, 2023
Buyer's Agency Exclusive Contract

When a REALTOR® agrees to work with clients, it is prudent to have the nature of the relationship agreed to in writing. This will help to ensure that all parties know what they can expect from each other and what is expected from them. When working with sellers, a mutually agreeable exclusive contractual relationship is …

VIDEO: Home Buyer Rescission Period, What Consumers Need to Know

| December 13, 2022

With the Home Buyer Rescission Period (HBRP) coming into effect on January 3, 2023, BCREA has created a video for REALTORS® to share with their clients to help them understand buyer’s rights during the HBRP. [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/T3Q6U3PtokI” frameborder=”0″ allowfullscreen style=”position:absolute;top:0;left:0;width:100%;height:100%;”][/iframe] This video will provide an overview of the HBRP and go over how …

To Rescind or Not to Rescind…

| December 2, 2022

The Home Buyer Rescission Period (HBRP) will come into effect on January 3, 2023. Under this new regulation, some buyers for some residential properties will have three clear business days to change their mind, for any reason, and walk away from an accepted Contract of Purchase and Sale. It’s important for REALTORS® working with buyers …

BCREA Online Courses Updated to Reflect Regulatory Changes

| November 21, 2022

With the Home Buyer Rescission Period (HBRP) expected to be implemented province-wide on January 3, 2023, BCREA has revisited previously available courses to learn where and how the rescission period may have changed what REALTORS® need to know for their practice. We have identified significant revisions to reflect the new legislation in the Disclosures in …

UPDATE: BC’s Home Buyer Rescission Period: Your Questions Answered

| November 10, 2022

The Home Buyer Rescission Period (HBRP), previously known as “Homebuyer Protection Period” and “cooling-off period,” is expected to be implemented province-wide on January 3, 2023. With many details yet to be determined by the BC Government, we have been hearing from REALTORS® with questions. In this post we answer some of those questions.   New or revised questions …

Get Ready for the 2023 Standard Forms Launch and Regulatory Changes

| October 20, 2022

On January 3, 2023, BCREA Standard Forms will launch one new form, the Notice of Recission – Residential Real Property and make a number of revisions to existing forms in relation to the Homebuyer Recission Period (HBRP) alongside non-regulatory form revisions. The release encompasses updates that ensure BCREA Standard Forms reflect regulatory and practice requirements …

BCREA Standard Forms Housekeeping Amendments Spring 2022

| May 18, 2022

Update: This post was updated on May 18, 2022. Find out more about the changes and the rationale in the Housekeeping Amendments Launch Package – May 2022 found here. (REALTOR Link® login required). While BCREA attempts to do an annual Standard Forms Launch, from time-to-time housekeeping amendments come up where it makes sense to make the …

Standard Forms – A Valuable Copyrighted Members-Only Resource

| March 24, 2022

The British Columbia Real Estate Association (BCREA) administers and manages a set of Standard Forms, standard clauses and related educational resources for use by REALTORS® in real estate transactions in British Columbia. A sub-set of the standard forms are jointly owned by BCREA and the Canadian Bar Association BC Branch (CBABC), including the Contract of …

New Video Explains the Fee for Service Retainer Agreement Form to Consumers

| January 27, 2022

BCREA has created a new video to help REALTORS® explain the Fee for Service Retainer Agreement form to consumers. This form is used by consumers to hire a brokerage to provide specific services tailored to their needs.  [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/bABvXnWPc0k” frameborder=”0″ allowfullscreen style=”position:absolute;top:0;left:0;width:100%;height:100%;” ][/iframe] This video explains when to use the Fee for Service …

Latest Tutorial Videos for REALTORS® Explore Five Standard Forms

| January 13, 2022

In BCREA’s latest release of tutorial videos for BC REALTORS®, we explore five key standard forms: These tutorial videos are intended to help Realtors better understand and use these common forms and feel confident in explaining these forms to their clients. Co-Listing – Joint Representation This video tutorial explores the Co-Listing – Joint Representation form, …

Introducing InFormBot, BCREA’s Latest Standard Forms Digital Tool

| December 1, 2021

BCREA is excited to announce the launch of InformBot for Standard Forms, a new digital tool that helps REALTORS® navigate the most commonly used forms with confidence.   InFormBot is a chatbot-like program that provides Realtors with an overview of standard forms to use during every transaction stage. Whether working with a seller or a buyer, InFormBot can guide you to the appropriate forms.   Standard forms highlighted in InFormBot include forms from the …

Fall 2021 Standard Forms Release Now Available on WEBForms®

| November 24, 2021

The new and revised standard forms, schedules and clauses included in BCREA’s Fall 2021 Standard Forms Release are now available on WEBForms®! BCREA has now released 11 new standard forms and schedules, as well as multiple clauses and form revisions, to help REALTORS® enhance their professionalism and adapt to changing best practices. Prior to the …

REALTORS® Invited to 2021 Standard Forms Post-Launch Q&A Webinar

| November 10, 2021

Already have questions about the upcoming Fall 2021 Standard Forms Release? Join us on December 2, 2021 for a FREE one-hour virtual Q&A session for REALTORS® to get real-time answers to any questions you may have. Why attend? This Q&A webinar will provide an opportunity for Realtors to ask questions they may have about the …

Get to Know the 11 New Standard Forms and Schedules Coming This November

| October 28, 2021

BCREA continues to help REALTORS® enhance their professionalism and adapt to changing best practices with a new Standard Forms release. This release will include 11 new standard forms and schedules as well as multiple clauses and form revisions. To help managing brokers and associate brokers prepare their Realtors for the change, BCREA will be holding …

BCREA’s 2021 Standard Forms Release Coming This Fall

| October 14, 2021

This fall, BCREA will release 11 new standard forms, multiple clauses and revisions to a significant number of forms. The new forms will include First Nations Reserve Lands Leasehold Properties, Cancellation of Buyer Agency Exclusive Contracts, Property Disclosure Statement – Strata Properties – Bare Land Strata and more. New clauses will cover issues like transacting …

Fall 2021 Standard Forms Release

| October 12, 2021

Background Resources Quick Links Last updated: November 24, 2021 This page contains background information on the Fall 2021 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 November …

New Tutorial Videos for REALTORS® Explore Fee Agreements

| September 23, 2021

In BCREA’s latest release of tutorial videos for BC REALTORS®, we explore three important standard forms: These tutorial videos are intended to help Realtors better understand and use these common forms and feel confident in explaining these forms to their clients. Fee Agreement Buyer Pays (Buyer and Seller Not Represented) This video tutorial explores the …

New Video Explains the Co-Listing Form – Joint Representation to Clients

| August 25, 2021

BCREA has created a new video to help REALTORS® explain the Co-Listing Form – Joint Representation to their clients. This form is used to amend a Listing Contract when the sellers want the property to be listed jointly by more than one brokerage. [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/hwy9fOsu7G0″ frameborder=”0″ allowfullscreen style=”position:absolute;top:0;left:0;width:100%;height:100%;” ][/iframe] This video explains the …

New Toolkits Available for Limited Dual Agency Agreements

| July 14, 2021

BCREA has launched two new toolkits in the Standard Forms Resource Centre to help REALTORS® navigate dual agency scenarios. The toolkits cover the Limited Dual Agency Agreement (Competing Buyers/Tenants) and the Limited Dual Agency Agreement (Buyer/Tenant and Seller/Landlord). Each of the toolkits include an introduction to the form, FAQs, an annotated version of the form, …

New Video Explains the Co-Listing Form – Separate Representation to Clients

| July 13, 2021

BCREA has created a new video to help REALTORS® explain the Co-Listing Form – Separate Representation to their clients. This form allows multiple sellers with opposing interests to each have their own designated agent(s) to represent them in the sale of a property.  [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/hTsWP-9JRJQ” frameborder=”0″ allowfullscreen style=”position:absolute;top:0;left:0;width:100%;height:100%;” ][/iframe] This video reviews the difference between joint and separate representation, the circumstances under which a client may choose to enter into a co-listing agreement with separate representation, and the potential benefits of this type of arrangement. The …

Standard Forms Spotlight: REMINDER – The BCREA Individual Identification Information Record Has Been Retired

| July 13, 2021

When the latest FINTRAC amendments came into effect on June 1, 2021, we retired the BCREA Individual Identification Information Record as it no longer meets brokerages’ record keeping obligations. Please use the FINTRAC forms provided by the Canadian Real Estate Association (CREA) or your brokerage to ensure you continue to meet these obligations.   Although this form has …

BCREA Explores Four Standard Forms in New Tutorial Videos for REALTORS®

| June 10, 2021

In BCREA’s latest release of tutorial videos for BC REALTORS®, we explore four key standard forms: These tutorial videos are intended to help Realtors better understand and use these common forms and feel confident in explaining these forms to their clients. Co-Listing Form – Separate Representation This video tutorial explores the Co-Listing Form – Separate …

Standard Forms Spotlight: Buyer’s Deposit Paid by a Third Party

| June 9, 2021

The BCREA Standard Forms team has received several great questions about what to do, if anything, when a buyer’s deposit is paid by a third party, such as a family member or a client’s business account. To help ensure REALTORS® are aware of their obligations, we’ve compiled a list of frequently asked questions on third-party …

Standard Forms Spotlight: Client Identification and CREA Form Changes

| May 27, 2021

With the Financial Transactions and Reports Analysis Centre of Canada’s (FINTRAC) latest regulatory amendments coming into effect on June 1, BCREA will retire the one-page BCREA Individual Identification Information Record as of May 31. The FINTRAC amendments redefine when brokerages enter into business relationships and as such, this one-page form will no longer meet brokerage’s …

BCREA Individual Identification Information Record to be Retired Ahead of June 1 FINTRAC Changes

| April 28, 2021

BCREA’s Individual Identification Information Record will become obsolete as of June 1, 2021, when the Financial Transactions and Reports Analysis Centre of Canada’s (FINTRAC) latest regulatory amendments come into effect. These amendments will change reporting obligations for brokerages under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act). With that in mind, …

New Video Explains Seller’s Disclosure of Material Latent Defects Form to Clients

| April 28, 2021

BCREA has created a new video for REALTORS® to share with their clients to help explain the Seller’s Disclosure of Material Latent Defects form. This form allows a seller and their Realtor to disclose any known material latent defects prior to buyers making an offer. [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/hKLR_YXmGcI” frameborder=”0″ allowfullscreen style=”position:absolute;top:0;left:0;width:100%;height:100%;” ][/iframe] The video …

BCREA Releases New Form to Address Risk of Subject-Free Offers

| April 28, 2021

BCREA has created the Buyer’s Acknowledgement of Information – Recommended Conditions form to help REALTORS® document that they have advised buyers of the increased risks and possible consequences of not including some or all of the recommended conditions in an offer. The form also allows Realtors to document that clients have been advised to obtain …

New Standard Form Toolkits Available for Three Fee Agreement Forms

| April 12, 2021

BCREA has created three new toolkits on the Standard Forms Resource Centre to help enhance REALTOR® knowledge of the following three fee agreement forms: All three toolkits include a form guide, that reviews the purpose of the form, who should use it, and when it should be used, a preview of the form, a how-to-complete …

UPDATE: New Form Helps Brokerages Meet Anti-Money Laundering Requirements

| March 24, 2021

UPDATE (March 24, 2021): Minor changes have been made to the Why Do REALTORS® Ask for Your Personal Information consumer video to provide greater clarity on the process for receipt of funds and to update the reference to the Individual Identification Information Record. All other aspects of this video remain unchanged. In September, BCREA released …

Water Sustainability Act – You Have Questions, We Have Answers

| March 9, 2021

At BCREA, we often receive questions from REALTORS® and consumers related to standard forms.  We’ve received several great questions about groundwater licensing and the Water Sustainability Act (WSA) as it pertains to the Property Disclosure Statement. Below, you can find three frequently asked questions on the topic, with answers provided by a member of the …

What the Co-Listing Separate Representation Form Means for REALTORS®

| January 20, 2021

By Ellen Baragon, Guest Contributor BCREA’s Co-Listing Separate Representation form was developed so that multiple sellers who have opposing interests are able to engage different brokerages – or different agents within the same brokerage – to represent their interests in the sale of a property. The Co-Listing Separate Representation amends certain sections of the Listing …

New Tutorial Videos Focus on Common Standard Forms

| January 20, 2021

BCREA has added to its suite of video tutorials for REALTORS® on key standard forms with the launch of three new video series: Contract of Purchase and Sale Listing Contracts Buyer’s Agency Exclusive Contract The Contract of Purchase and Sale series explains some of the most important aspects of this standard contract that is a central …

New Videos Highlight Key Areas of Contract of Purchase and Sale

| January 12, 2021

By Ellen Baragon, Guest Contributor Given that the Contract of Purchase and Sale (CPS) is a foundational document to any real estate transaction, REALTORS® need to know the fine details that can make or break a Contract of Purchase and Sale. To that end, BCREA has created a new tutorial video series that reviews key aspects …

Top Three Questions About the Privacy Notice and Consent Form

| December 11, 2020

Privacy laws in British Columbia require that informed consent is obtained before collecting, using, and disclosing the personal information of individuals. BCREA created the Privacy Notice and Consent form to support REALTORS® in providing disclosure and documenting the informed consent of consumers regarding the collection, use, and disclosure of their personal information. Having a consumer …

New Index Created for Quick Access to BCREA Standard Forms Resources

| November 12, 2020

With a variety of new resources having been created over the last several months – including the Standard Forms Resource Centre, the Fall 2020 Standard Forms and accompanying training materials – we have created a way for Realtors to easily find exactly what you need to help your practice. The Standard Forms Resources Index enables …

VIDEO: Help Your Clients Understand the Property Disclosure Statement

| November 12, 2020

BCREA has created a video for REALTORS® to share with clients to help them better understand the Property Disclosure Statement (PDS). The PDS is one of the most frequently used standard forms and it allows sellers to disclose facts about the condition of the property so that buyers can make informed decisions when considering purchase …

Forms 2020: Post-Launch Webinar Recording and Resources

| October 2, 2020
BCREA hosted a Q&A webinar for Realtors

On September 29, BCREA hosted a webinar to answer questions REALTORS® had after two weeks of using the new and revised standard forms and clauses that were included in our Fall 2020 Standard Forms Release. The webinar – which featured a panel including BCREA Chief Operating Officer Corinne Caldwell, Professional Services Manager Jennifer Lynch, and …

REALTORS® Invited to Webinar to Discuss New and Revised Standard Forms

| September 22, 2020
Realtors are invited to a webinar regarding the Fall 2020 Standard Forms Release

Last week, BCREA released seven new standard forms, three new clauses, and a significant number of revisions to existing forms as a part of our Fall 2020 Standard Forms Release. As a part of our ongoing efforts to ensure Realtors and managing brokers are provided with relevant information to support you in understanding these changes …

New and Revised Standard Forms Now Available on WEBForms®

| September 17, 2020

The new and revised standard forms and clauses included in BCREA’s Fall 2020 Standard Forms Release are now available on WEBForms®. Seven new standard forms, three new clauses, and a significant number of revised forms have been released, as BCREA continues to help Realtors enhance their professionalism and adapt to trends and changing best practices. …

Get to Know the New and Revised Standard Forms Coming in September

| August 27, 2020

With less than a month to go before BCREA’s Fall 2020 Standard Forms Release on September 16, REALTORS® now have the opportunity to view advance copies of the new and revised forms, clauses and accompanying resource guides. BCREA has developed a pre-launch package that includes previews of the new and revised forms and clauses (watermarked …

Forms 2020: New Standard Forms and Clauses

| August 27, 2020

By Ellen Baragon, Guest Contributor As part of BCREA’s Fall 2020 Standard Forms Release, seven new standard forms and three new clauses will be released on September 16, 2020. The following is a summary of the upcoming new standard forms and clauses with brief descriptions outlining why they were created and their intended use. 1. …

Forms 2020: Revised Standard Forms

| August 27, 2020

By Ellen Baragon, Guest Contributor As part of BCREA’s Fall 2020 Standard Forms Release, ten revised standard forms will be released on September 16, 2020 The following is a summary of the revised standard forms with brief descriptions outlining why they were created and their intended use. Authority to Lease – CommercialThe Authority to Lease …

Forms 2020: Updated Signature Blocks

| August 27, 2020

By Ellen Baragon, Guest Contributor As part of BCREA’s Fall 2020 Standard Forms Release, the signature blocks on more than 20 standard forms have been updated and will be released on September 16, 2020. After a recent review of the brokerage signature blocks on a number of forms, BCREA’s Standard Forms Committee noted opportunities to …

Get Ready for BCREA’s Fall 2020 Standard Forms Release

| August 13, 2020

On September 16, BCREA will release seven new standard forms, three new clauses and a number of revised forms on WEBForms®. The new forms will be accompanied by guides that will also be posted on WEBForms®, while additional resources on the revised forms will be made available on the Standard Forms Resource Centre. What forms …

Fall 2020 Standard Forms Release

| August 13, 2020

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 …

Standard Forms Resource Centre Now Available: Here’s What You Need to Know

| August 5, 2020
BCREA Standard Forms Resource Centre

BCREA’s new Standard Forms Resource Centre is now available for REALTORS® and managing brokers! The comprehensive platform is the new go-to for standard forms training materials and resources and was created to help REALTORS® and managing brokers make the most of BCREA standard forms and raise the bar professionally. To access the Standard Forms Resource …

Managing Brokers Invited to Webinar on Fall 2020 Standard Forms Release

| July 30, 2020
Managing brokers are invited to a webinar hosted by BCREA

On September 16, BCREA will release seven new standard forms, three new clauses and a significant number of revisions to existing forms. Managing brokers are invited to join the virtual Managing Broker Community of Practice on Wednesday, August 19 at 10:00 am to learn more about the upcoming standard forms release. To register for the …

BCREA Launches Privacy Notice and Consent Form Video for Consumers

| December 9, 2019

The British Columbia Real Estate Association (BCREA) has created a new video to help consumers better understand the Privacy Notice and Consent form, and how REALTORS® protect consumer privacy and personal information during and after real estate transactions. You can show this video to consumers when discussing the Privacy Notice and Consent form, or at …

Revised Council Disclosure Forms Better Meet Consumer Needs

| November 18, 2019

Recent changes to three Real Estate Council of BC mandatory disclosure forms are a significant improvement on previous versions, which were launched as part of the June 2018 Rule changes. The revised forms, which came into effect September 30, 2019, include the Disclosure of Representation in Trading Services, Disclosure of Risks to Unrepresented Parties and Disclosure to Sellers of …

Privacy Notice and Consent Form Resources

| August 22, 2019

Learn more about working with the recently updated Privacy Notice and Consent form The British Columbia Real Estate Association (BCREA) recently updated the Privacy Notice and Consent form, which explains to consumers how you’ll use and disclose their information. To learn more about the changes and working with the updated form, check out this short video …

New WEBForms® Platform to Launch in July

| June 14, 2019

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 …

Standard Forms Reminder

| May 17, 2019

Changes coming June 13 On June 13, changes to the Assignment of Contract of Purchase and Sale – New Development and Non-Developer and the Privacy Notice and Consent forms will come into effect. While none of the changes will have a significant impact on practice, it’s important for REALTORS® to familiarize themselves with the changes …

It’s Time to Say Goodbye: Ending an Agency Agreement Before It Expires

| December 1, 2018

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 …

Changes to Improve Transparency Within Real Estate Transactions

| December 1, 2018

In an effort to make BC’s real estate industry more transparent, the Office of the Superintendent of Real Estate (OSRE) has introduced additional disclosure statement requirements regarding assignments of strata purchase agreements. While these changes are targeted at developers who market strata lots in developments properties, it’s important for REALTORS® who are involved in the …

New Updates to Property Disclosure Statement Form

| November 15, 2018

As of October 29, 2018, updated versions of the Property Disclosure Statement Strata/Residential/Land and Building/Addendum Land and Building/Land forms are in effect. These standard forms have been updated to reflect the legalization of cannabis and are now available on WEBForms®. Update 1: Change to question in Clause 4a When completing the form, a REALTOR® should …

Updated Service Agreement Forms for REALTORS®

| September 15, 2018

When the new Real Estate Services Act Rules came into effect on June 15, 2018, BCREA released new versions of various standard forms available to REALTORS®, including the following service agreements: Multiple Listing Contract; Exclusive Listing Contract; Buyer’s Agency Acknowledgment; Exclusive Buyer’s Agency Contract; Authority to Lease; Exclusive Authority to Lease; and Tenant’s Agency Exclusive Contract. While …

New Disclosure of Referral Payment Form

| September 15, 2018

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 …

Understanding the Privacy Notice and Consent Form

| July 15, 2018

Since the Real Estate Services Act Rule changes came into effect last month, there has been some confusion about how and when to use BCREA’s new Privacy Notice and Consent form. There have also been questions as to how it differs from the Real Estate Council of British Columbia’s disclosure forms that contain a Consumer Privacy Notice. …

Changes to BCREA Standard Forms

| June 15, 2018

Not surprisingly, the upcoming Rule changes will also mean updates to many of the BCREA standard forms used everyday. Once the Rule changes come into effect, outdated versions of the standard forms and the Working with a REALTOR®brochure will no longer be available on WEBForms®. As a REALTOR®, it’s important that you are ready to work …

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