Revised Real Estate Rules Now in Effect Under New Regulator
CATEGORY: Practice Tips
TAGS: BC Financial Services Authority BCFSA Office of the Superintendent of Real Estate OSRE Practice Tips Real Estate Council of BC Real Estate Council of British Columbia Real Estate Practice Real Estate Rules RECBC
As a result of the integration of the Real Estate Council of BC (RECBC) and Office of the Superintendent of Real Estate (OSRE) into the BC Financial Services Authority (BCFSA) on August 1, the Real Estate Rules, now named the Real Estate Services Rules, have been revised. The changes take effect immediately.
With RECBC and OSRE ceasing to exist as of August 1, BCFSA – the new regulator of real estate service providers in BC – has renumbered the rules and made minor language changes to align with provincial drafting standards.
Read more about the changes in BCFSA's news release here.
View the new Real Estate Services Rules here.
BCFSA says there is no change to conduct requirements for licensees. To help licensees better understand the changes during the transition period, BCFSA has also created a Table of Concordance, which compares the rules as they previously existed under RECBC with the rules as they exist now. Click here to view the Table of Concordance.
To learn more about the transition from RECBC and OSRE to BCFSA as the new regulator for real estate in BC, click here.
For support during the transition, contact BCFSA directly at [email protected].
If you have feedback about how these changes affect you, please also contact the BCREA Government Relations team at [email protected] You can also reach out to BCREA VP Government Relations Trevor Hargreaves by emailing [email protected] or calling 236.333.4572.
To subscribe to receive BCREA publications such as this one, or to update your email address or current subscriptions, click here.
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