November 17, 2021 – Mandatory Cooling Off Period and Other Real Estate Transparency Measures
On Wednesday, November 17, we discussed the BC Government’s recent announcement to implement mandatory cooling off periods for buyers of residential real estate transactions in spring 2022. Panelists included BCREA CEO Darlene Hyde and Vice President of Government Relations Trevor Hargreaves who discussed the recent announcement, the BC Financial Services Authority’s consultation on the cooling off period and other potential consumer protection policies, BCREA’s next steps and how REALTORS® can get involved. The session was followed by a Q&A session.
- Session slide deck (BCREA)
- FAQ
- Contact: [email protected] and CC [email protected]
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On Wednesday, September 13, 2023, we were joined by Barry Porrelli, Lawyer and Owner at Porrelli Law, and Scott Simpson, Notary Public and Partner at Simpson Notaries. Barry and Scott provided an informative session on different legal regimes, understanding leases, the leasing process on reserve lands, how to complete the Contract of Purchase and Sale with particular attention to Clauses 5, 7, and 8, and more.
- Session slide deck (Porrelli Law)
- Session slide deck (Simpson Notaries)
- Non-cancellable Headlease – Section 8
Below are answers to some questions our guest speakers were unable to address during the September 13, 2023 session:
- Why are there such a disproportionate number of First Nations Bands in BC (200) compared to 600 plus in the rest of Canada?
- There are a lot more Indigenous people in Ontario than BC and I believe the reserves there can be much larger – but why there are more individual Bands in BC a historian would have to answer as I don’t really know.
- Does a First Nations lessee’s GST exempt status extend to all First Nations real estate or just their own? For example, if a Westbank is leasing in a Musqueam project.
- Generally, we don’t give tax advice – but I believe the tax exemption comes from being a Status Indian, not a member of a particular Band.
Resources:
The views expressed in these presentations are those of the speakers and do not reflect the views of BCREA or its member boards. Please note, the content of these presentations was current as of the date of each session and we cannot guarantee the accuracy of information provided in past sessions.
- September 13, 2023 – Real Estate Transactions Involving Indigenous Lands
- September 6, 2023 – FINTRAC Q&A
- August 23, 2023 – BC Strata Amendments Explained
- August 9, 2023 – WorkSafeBC and Real Estate
- July 19, 2023 – BCFSA’s Regulatory Roadmap, Data Insights, Rules Amendments, and Stakeholder Engagement
- July 5, 2023 – FINTRAC Compliance and Preparing for Examinations
- June 21, 2023 – Distracted Driving: What to Know as a Real Estate Professional
- June 7, 2023 – Cybersecurity Best Practices for Brokerages
- May 24, 2023 – Climate Crisis Impacts on Real Estate
- May 10, 2023 – Mental Health in Real Estate
- April 26, 2023 – BCREA Government Relations Update
- April 12, 2023 – Errors and Omissions Q&A
- March 29, 2023 – Title Fraud in Real Estate – What You Need to Know
- March 1, 2023 – Errors and Omissions – Insurance Changes, Trends, and Tips for Mitigating Risk
- February 22, 2023 – The Path to Recovery in the Housing Market
- February 15, 2023 – Data Collection in Real Estate
- February 8, 2023 – Managing Broker Research Insights
- January 18, 2023 – Foreign Buyer Ban with CREA and AUTOPROP
- January 11, 2023 – BC Assessment 2023 Highlights
- November 16, 2022 – 2023 Regulatory Changes and Standard Forms Launch
- November 2, 2022 – Home Buyer Rescission Period with BCFSA
- October 26, 2022 – Professionalism and the Leadership Role for Managing Brokers
- September 28, 2022 – Housing Panel with Municipal-Nominees Across BC
- August 17, 2022 – BCREA Updates
- July 13, 2022 – The Cullen Commission Report: What REALTORS® Need to Know
- June 15, 2022 – BCREA Government Relations and Advocacy Update
- June 1, 2022 – FINTRAC – Receipt of Funds (no recording)
- May 18, 2022 – BCREA Government Relations and Advocacy Update
- May 4, 2022 – Risk Mitigation and Insurance Through Wildfire Season
- April 20, 2022 – An Inside Look at Conveyancing
- April 6, 2022 – Enhancing your Cyber Security with MFA
- March 16, 2022 – Understanding Challenges With Assignments
- March 2, 2022 – BCREA Consumer Protection Recommendations
- February 2, 2022 – Let’s Chat – Darlene Hyde Talks Past, Present and Future at BCREA
- January 19, 2022 – BCREA’s Economic Outlook
- January 5, 2022 – BC Assessment 2022 Highlights
- December 1, 2021 – REEOIC Recap of Top Claims and How to Avoid Them
- November 17, 2021 – Mandatory Cooling Off Period and Other Real Estate Transparency Measures
- November 3, 2021 – Standard Forms Pre-Launch
- October 20, 2021 – REALTOR® Professionalism & REALTORS® Care week
- October 6, 2021 – Post-Election Sectoral GR and Advocacy Update
- September 22, 2021 – Risk Management in a Red Hot Market
- September 1, 2021 – Corporations, Corporate Records, & Identifying Beneficial Interests
- July 28, 2021 – Integrated Regulator of the Financial Services Sector: BCFSA
- June 16, 2021 – Vaccines & the Restart Plan – What You Need to Know
- May 19, 2021 – FINTRAC Compliance Resources and the Upcoming Changes (no recording)
- April 21, 2021 – Land Owner Transparency Registry
- April 7, 2021 – E&O: Mitigating Risks in a Hot Market
- March 31, 2021 – Emerging Issues in a Hot Market
- March 17, 2021 – Legal Defence Reserve
- March 3, 2021 – Cyber Security and Technology: What Brokers Need to Know
- February 24, 2021 – REALTORS® and the BC Energy Step Code
- February 3, 2021 – BCREA Update on Cullen Commission
- January 13, 2021 – RECBC Licensing Fee Changes
- December 16, 2020 – 2020 Year-In-Review and Looking Ahead to 2021
- November 18, 2020 – What Would You Do? Presentation Series: Conflicts of Interest and Misrepresentations
- November 4, 2020 – Administrative Penalties
- October 7, 2020 – Land Owner Transparency Registry
- September 23, 2020 – Risk and Insurance for Real Estate Brokerages
- September 9, 2020 – Anti-Money Laundering & Fostering a Culture of Compliance
- August 19, 2020 – New Forms and Form Revisions Fall 2020
- August 5, 2020 – What Would You Do? Presentation Series: Working in Your Area of Expertise
- July 22, 2020 – Rising Strata Insurance Rates in BC
- July 8, 2020 – Update from the Superintendent of Real Estate
- June 24, 2020 – REALTOR® Brand & Reputation Management
- June 17, 2020 – Guidance and Support for Returning to Safe Operations
- June 10, 2020 – What Would You Do? Presentation Series: Implied Agency
- June 3, 2020 – Managing Broker Panel Discussion on Returning to Safe Operations
- May 20, 2020 – FINTRAC Update and Return to Safe Work Plan (No Recording)
- May 13, 2020 – E&O Coverage and Claims During COVID-19
- May 6, 2020 – Economic Outlook and Market Update
- April 29, 2020 – The Virtual World and Live Tours
- April 22, 2020 – Professional and Regulatory Changes: Principle-Based Practice
- April 15, 2020 – Provincial and Federal Advocacy During COVID-19
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