The Home Buyer Rescission Period: What REALTORS® Need to Know Course Now Live!

With the new Home Buyer Rescission Period coming into effect in January 3, 2023, BCREA has developed a new course to support REALTORS^® and managing brokers to not only understand the new rules but also apply them in their practice.

(BCREA Access login required)

The Home Buyer Rescission Period: What REALTORS^® Need to Know course, will cover the specifics of the new legislation and equip REALTORS^® with a strong foundation required to address the needs of their clients. REALTORS^® taking this course will particularly find useful the various scenarios that walk through the process of exercising the right of rescission.

After completing this course, learners will be able to:

• identify the key elements of the new legislation, including the length of the rescission period;
• provide required disclosures of the rescission rights to their clients;
• calculate the rescission amount properly;
• explain how the deposits are handled, in accordance with the Regulation;
• fill out appropriate forms in order to be compliant with the new requirements; and
• identify strategies for managing brokers to mitigate risks.

The primary goal of this course is to enhance the standard of professional competency in how REALTORS^® assist their clients and protect their best interests during the home buying or home selling experience.

Course Details:

Format: Self-paced online

Launch: December 1, 2022

Where: Available on BCREA’s Hub

Price: $30

Accreditation: One PDP hour

Availability: One year (Expires November 30, 2023)

Do you have questions about the 2023 HBRP and Standard Forms Launch? Visit www.bcrea.bc.ca/forms2023 (BCREA Access login required) for the most current information, or for Professional Development specific emails, contact us at [email protected].

To subscribe to receive BCREA publications such as this one, or to update your email address or current subscriptions, click here.