Legal Defence Reserve Offers Peace of Mind for REALTORS® Faced with Legal Challenges
Professionalism is always top of mind for REALTORS®. Your reputation with your clients is based on trust as they rely on you to advise and act in their best interest.
But your peace of mind is important, too.
That’s where BCREA’s Legal Defence Reserve (LDR) comes in. The LDR is a useful support system for Realtors if legal challenges arise around issues of provincial significance. Funds from the reserve can be used for legal and other costs related to litigation or disciplinary matters when the issue at hand is provincial in scope.
What kind of issues are covered?
Earlier this year, during the Cullen Commission of Inquiry into Money-Laundering in BC, the Real Estate Brokers Association (REBA) of BC, the organization which represents broker owners in the province, found itself in need of support as it was asked to participate in the inquiry.
There’s no question the outcome of the Cullen Commission, with potential implications on the real estate profession, its perception and Realtor practice is an issue of provincial importance, so REBA applied for support from the LDR. Once its application was approved, REBA was able to retain legal counsel for its involvement in the Cullen Commission and was able to ensure it, and the real estate professional, was represented with the highest standards.
How do I apply?
If you are dealing with a legal or disciplinary matter that you believe to be of provincial significance, visit the Legal Defence Reserve page on BCREA Access, complete an application form and submit it - along with written support from your managing broker and member board - via email to [email protected].
BCREA will ensure the submission meets the prescribed criteria to be forwarded to the Legal Defence Committee (LDC). The LDC will then review the submission and you will be contacted with their decision.
(BCREA Access login required)
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