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CEO Video With Trevor Koot

Featuring BCREA CEO Trevor Koot, this monthly video series offers a unique look into both BCREA and the real estate and housing sectors at large.

A Place to Share Ideas

Once a month, BCREA CEO Trevor Koot steps in front of the camera to discuss housing and real estate topics relevant to both REALTORS® and the public. These videos are available on our YouTube channel playlist, LinkedIn, Facebook, and Instagram.

Check out the series below.

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Preparing BC Real Estate for a Changing Climate

July 22, 2025

Climate risks are reshaping housing in BC – from floods and wildfires to rising home insurance costs. In this video, BCREA CEO Trevor Koot shares how the real estate sector can prepare for a more climate-resilient future.

Transcript

No matter the season in British Columbia, you don’t have to look far to see the effects of climate change.

With the arrival of atmospheric rivers and the annual melting of snow and ice that raises water levels, flood warnings are becoming increasingly common in the fall and spring.

As summer arrives, wildfire season begins. While the number of hectares burned varies every year, the number of fires is rising – and so is the risk. Last year, in Jasper, Alberta, 25,000 residents were forced to evacuate, one-third of the town’s structures were destroyed, and insurance claims hit nearly $900 million.

BC isn’t immune to this kind of disaster. And while the housing impacts of these disasters can be high, the human costs are even higher.

At the BC Real Estate Association, we’ve developed resources to help REALTORS® and the public prepare for climate risks, and I encourage you to explore them on our website. But what’s BCREA’s broader role in this conversation?

In our advocacy work, we’re focused on three key areas:

One, providing REALTORS® with the training and tools they need to talk to clients about energy efficiency and local climate hazards.

Two, encouraging local governments to update floodplain maps, and advocating for long-term, sustainable funding for flood mitigation.

And three, improving energy efficiency in existing homes through voluntary measures and incentives.

We’re also closely watching developments in property insurance.

Coverage is already becoming difficult to acquire in some flood- and wildfire-prone regions in the province. And without insurance, there is no mortgage.

What’s more, available coverage in the highest-risk areas in BC may soon come at a higher cost or with conditions, which could exacerbate existing affordability issues.

This all makes REALTOR® education even more important. We expect governments to demand stronger disclosure requirements in the years ahead, and it will be incumbent on REALTORS® to help clients make informed decisions.

In the coming years, BCREA will continue to share crucial information, advocate for policies that protect our communities, and support REALTORS® as they help their clients navigate this changing landscape.

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