Market Trends


The Nanaimo and Area Housing Market, has been quite stable throughout the years.  It has gone up with the Nanaimo Home Trendsnational and provincial trends, but doesn’t seem to come down quite as fast and far as in other geographical regions of Canada.  Experts feel that this is largely due to steady influx of retirees coming here to escape the harsh winters they have experienced in other areas of the country.  They say you don’t have to shovel the rain! Once the market hits its threshold during a fast growth period, we can expect to see small adjustments to the prices rather than steep declines.  Nanaimo and other parts of Vancouver Island are still regarded as one of the best priced real estate markets, especially taking into account the beauty of the ocean views and the rainforests that it has to offer.

Trends and Market News

Vireb - News

Recent posts from Vireb (News)

VIREB recorded 1,101 unit sales (all categories) last month, a 39 per cent increase from August 2019. MORE
Posted: September 1, 2020, 11:12 pm
VIREB's housing market continues to recover from the COVID-19 downturn seen in April and part of May. MORE
Posted: August 21, 2020, 10:12 pm
The COVID-19 effect on VIREB's housing market seemingly wore off in June, with sales rebounding significantly from May and posting year-over-year increases in most markets. MORE
Posted: July 2, 2020, 9:41 pm
VIREB has released its 2019 Buyer Profile, tracking the who, what, and where of residential property purchases north of Victoria on Vancouver Island. MORE
Posted: June 8, 2020, 10:16 pm
While COVID-19 had a significant impact on VIREB's housing market in April, the board's May numbers indicate that the market may already be recovering. MORE
Posted: June 2, 2020, 7:34 pm
The anticipated impact of COVID-19 on VIREB's housing market became a reality in April, with sales of single-family homes dropping by 54 per cent year over year. MORE
Posted: May 1, 2020, 9:34 pm
The COVID-19 health crisis will undoubtedly dampen the provincial housing market, but it had little impact on March sales. MORE
Posted: April 2, 2020, 4:51 pm
Sales of single-family homes in the VIREB area last month rose by 15 per cent year over year and were 49 per cent higher than in January. MORE
Posted: March 2, 2020, 10:15 pm
Sales of single-family homes in January dropped by 16 per cent from one year ago and were 26 per cent lower than in December. MORE
Posted: February 3, 2020, 10:33 pm
Sales of single-family homes in December increased by 40 per cent from one year ago and were 24 per cent lower than in November. MORE
Posted: January 2, 2020, 10:58 pm
Sales of single-family homes in November rose by three per cent from 2018 and were nine per cent lower than in October. Apartment and townhouse sales dipped by eight per cent and 33 per cent, respectively. MORE
Posted: December 2, 2019, 10:10 pm
Sales of single-family homes in October dropped by 11 per cent from 2018 and were virtually the same as in September. Apartment and townhouse sales dipped by nine per cent and 22 per cent, respectively. MORE
Posted: November 1, 2019, 9:18 pm
Sales of single-family homes in September were virtually flat year over year but dipped by 16 per cent from August. However, apartment and townhouse sales rose by 15 per cent and 11 per cent year over year, respectively. MORE

Posted: October 2, 2019, 5:56 pm
Sales of single-family homes in August board-wide dipped by 11 per cent year over year and were nine per cent lower than in July. MORE

Posted: September 3, 2019, 9:29 pm
Sales of single-family homes in July board-wide rose by three per cent year over year and were 12 per cent higher than in June. MORE
Posted: August 1, 2019, 9:27 pm
Sales of single-family homes in June board-wide dipped by seven per cent year over year and were 11 per cent lower than in May. MORE
Posted: July 2, 2019, 9:29 pm
Sales of single-family homes in May board-wide dipped by 12 per cent year over year but rose by 11 per cent from April. MORE
Posted: June 3, 2019, 9:40 pm
Sales of single-family homes in April board-wide dipped by 13 per cent year over year but rose by 33 per cent from March. MORE
Posted: May 1, 2019, 10:10 pm
Sales of single-family homes in March board-wide dipped by 23 per cent year over year but were up 36 per cent from February. MORE
Posted: April 2, 2019, 3:52 pm
Sales of single-family homes in February board-wide dipped by 28 per cent year over year but were up 10 per cent from January. MORE
Posted: March 1, 2019, 10:41 pm

British Columbia Real Estate Association

Background Resources Advocacy Last updated: September 25, 2020 Ensuring REALTORS® have the resources to meet anti-money laundering requirements is an important step towards keeping money from criminal activity out of BC’s housing market. BCREA has created this dedicated page to help Realtors access BCREA’s anti-money laundering resources. Throughout the fall, we’ll add to these resources ...

The post Anti-Money Laundering Resources appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: September 25, 2020, 7:59 pm

BCREA’s Recommendations for the Next Provincial Government With British Columbians being asked to head to the polls on October 24, BCREA is advocating with all parties to ensure that market housing affordability is a cornerstone of the province’s COVID-19 economic recovery plan. “The COVID-19 pandemic has made market housing affordability inequities more apparent than ever,” ...

The post Planning for Post-COVID-19 Economic Recovery appeared first on British Columbia Real Estate Association.

Author: April van Ert
Posted: September 25, 2020, 5:41 pm

On Episode 11 of Open House by BCREA, we talk about the upcoming provincial election and what it means for the real estate sector in BC. Joining us for a conversation is BCREA VP Government Relations and Stakeholder Engagement Trevor Hargreaves. He shares the key priorities and recommendations BCREA and the province’s real estate boards will ...

The post PODCAST: Episode 11 – What the Provincial Election Means for BC Real Estate appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: September 25, 2020, 5:28 pm

Before entering into a co-listing agreement, there are some important items REALTORS® need to consider: Will a co-listing be beneficial or detrimental to the seller(s)? Which co-listing form is appropriate to use? Who do I owe my fiduciary duty to? Will a co-listing be beneficial to the seller(s)? Realtors have a duty to act in ...

The post Co-Listings: What REALTORS® Should Consider When Co-listing a Property #529 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 24, 2020, 9:16 pm

BCREA’s new nine-week blended learning program, Mastering Compliance: Anti-Money Laundering Training for Brokers, launches on Monday, October 5, and it’s not too late to register! This program combines six self-paced online modules with three virtual classroom sessions to provide brokers and compliance officers with the tools to meet anti-money laundering requirements and foster a culture ...

The post Mastering Compliance Virtual Classes Feature Anti-Money Laundering Expert appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: September 24, 2020, 9:06 pm

On September 23, Governor General Julie Payette presented the Speech From the Throne, providing an overview of many programs the government has enacted in the last six months as well as providing an outline of the government’s upcoming agenda. Several of the announcements will impact real estate in BC. On market housing, the government promised ...

The post Federal Throne Speech Includes Housing in Economic Recovery Plan appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 24, 2020, 4:58 pm

To view the Mortgage Rate Forecast PDF, click here. Highlights 5-year fixed mortgage rate falls under 2 per cent Canadian economic recovery entering recuperation phase Bank of Canada on hold until 2023? Mortgage Rate Outlook The average Canadian 5-year fixed rate has fallen to under 2 per cent, the result of a rapid and overwhelming ...

The post Mortgage Rate Forecast appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 24, 2020, 4:30 pm

Last week, BCREA released seven new standard forms, three new clauses, and a significant number of revisions to existing forms as a part of our Fall 2020 Standard Forms Release. As a part of our ongoing efforts to ensure Realtors and managing brokers are provided with relevant information to support you in understanding these changes ...

The post REALTORS® Invited to Webinar to Discuss New and Revised Standard Forms appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: September 22, 2020, 5:31 pm

By Ellen Baragon, Guest Contributor September 23 is the last opportunity for REALTORS® to attend the BCREA webinar, Radon and Real Estate: Understanding New Developments for Practice in BC. Delivered by the BC Lung Association in collaboration with BCREA, the first three instances of this webinar – which earns Realtors two accredited PDP hours upon ...

The post Why It’s Time to Start Thinking About a Radon Gas Test appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: September 21, 2020, 7:46 pm

The new and revised standard forms and clauses included in BCREA’s Fall 2020 Standard Forms Release are now available on WEBForms®. Seven new standard forms, three new clauses, and a significant number of revised forms have been released, as BCREA continues to help Realtors enhance their professionalism and adapt to trends and changing best practices. ...

The post New and Revised Standard Forms Now Available on WEBForms® appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: September 17, 2020, 4:36 pm

Watch BCREA Chief Economist Brendon Ogmundson discuss the August 2020 statistics. [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/DX2stu3uBNU” frameborder=”0″ allowfullscreen style=”position:absolute;top:0;left:0;width:100%;height:100%;” ][/iframe] Click here to visit our YouTube channel. Read the news release here. For more information, please contact: Brendon Ogmundson Chief Economist Direct: 604.742.2796 Mobile: 604.505.6793 Email: bogmundson@bcrea.bc.ca To subscribe to receive BCREA publications such as this ...

The post Housing Market Update – September 2020 appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: September 15, 2020, 7:00 pm

For the complete news release, including detailed statistics, click here. Vancouver, BC – September 14, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 10,172 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August 2020, an increase of 42.8 per cent from August 2019. The average MLS® residential ...

The post BC Housing Markets Heat Up as Summer Ends appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 14, 2020, 11:55 am

As of August 20, 2020, REALTORS® have yet another reason to maintain high standards of hygiene and safety. Schedule 1 of the BC Workers Compensation Act includes a new presumption for infections caused by communicable viral pathogens, such as COVID-19, that are the subject of a Public Health Act notice or a declared state of ...

The post New COVID-19 Presumption in the Workers Compensation Act appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 10, 2020, 10:26 pm

In the coming years, new homes in BC are about to get measurably healthier, quieter, more durable, and more energy efficient than those on the resale market, thanks to a regulation called the BC Energy Step Code. BCREA is collaborating with BC Hydro to ensure REALTORS® understand the BC Energy Step Code, so they can ...

The post The BC Energy Step Code and What It Means for REALTORS® appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: September 10, 2020, 7:45 pm

At BCREA, we know that managing a real estate brokerage comes with a great deal of responsibility – including risk management. That’s why we’ve collaborated with Metrix Professional Insurance Brokers to create the Brokerage Insurance Program, a new affinity program* that provides managing brokers with insurance solutions specifically designed for real estate brokerages. The Brokerage Insurance ...

The post BCREA Launches Insurance Program for Real Estate Brokerages appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: September 9, 2020, 8:57 pm

Vancouver, BC – September 9, 2020. The British Columbia Real Estate Association’s (BCREA) latest Market Intelligence report, The Unusual World of Pandemic Economics, points to uneven job losses across sectors, an increase in many households’ rate of savings, swift government aid, a tighter-than-ever housing supply and low interest rates as the drivers behind BC’s recent ...

The post “The Unusual World of Pandemic Economics” – Why BC’s Housing Market Remains Strong Despite COVID-19 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 9, 2020, 11:55 am

As of October 1, 2020, all BC companies must maintain transparency registers in their offices along with their other corporate records. A transparency register is a list of all significant individuals connected to the company and the requirement applies to real estate brokerages and personal real estate corporations. To get started, the BC Government recommends ...

The post Transparency Registers Effective October 1 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 8, 2020, 6:54 pm

Filing a Suspicious Transaction Report (STR) can seem like a tough call – what’s considered suspicious? And how do they help anyways? The truth is STRs are an easy and important way for REALTORS® to help protect BC’s economy from money laundering. They also play a key role in helping law enforcement identify money launderers ...

The post Signs You Should File a Suspicious Transaction Report appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: September 3, 2020, 10:48 pm

For several months, BCREA and other stakeholders have drawn the government’s attention to significant increases in the cost of strata property insurance in BC. This is a complex issue and, while it can’t be solved quickly, actions are underway. Initial research findingsThe BC Financial Services Authority (BCFSA), BC’s financial services regulator, published a brief interim ...

The post Strata Insurance Update appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 2, 2020, 5:02 pm

In August, BCREA interviewed the Pembina Institute’s director for buildings and urban solutions, Tom-Pierre Frappé-Sénéclauze, to understand their perspective on making homes and buildings in BC low carbon, healthy and resilient. Tom-Pierre was a coauthor of a July submission sent to the BC Government, “Accelerating BC’s economic recovery through building retrofits.” Closely aligned with BCREA’s ...

The post Action Plan for Economic Recovery to Achieve CleanBC Goals appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 2, 2020, 4:44 pm

The COVID-19 Reopening Dashboard allows readers to monitor the evolution of the BC economy as the province gradually reopens. The dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province’s subsequent state of emergency. The most recent update shows that home sales have more than fully ...

The post Monitoring COVID: BCREA Develops New Economic Resources appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 2, 2020, 4:35 pm

To view the full Commercial Leading Indicator PDF, click here. The BCREA Commercial Leading Indicator (CLI) continued to fall in the second quarter of 2020 from 127.6 to 121.9, representing the fourth consecutive quarterly decline. It was the second largest drop in the indicator in over two decades, reflecting the hardest hit months of the ...

The post Commercial Activity Impacted by Pandemic in 2020 Q2 appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: September 1, 2020, 7:00 pm

BC Monthly Real GDP Estimate for June 2020 & Preliminary Estimate for July 2020 (Updated: August 28, 2020) The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for June 2020 is -5.7 per cent. For comparison, the Canadian economy contracted 7.8 per cent year-over-year in June. We have also ...

The post BCREA Nowcast appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: August 31, 2020, 4:50 pm

A recent discipline decision from the Real Estate Council of BC (Council) illustrates how important it is for licensees to be aware of and follow Council guidelines and their interpretations, which can be found in newsletters, notices, articles, and answers to Frequently Asked Questions, all readily available on Council’s website. In this decision,1 a couple ...

The post Knowing the Rules May Not Be Enough #529 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: August 27, 2020, 10:27 pm

With less than a month to go before BCREA’s Fall 2020 Standard Forms Release on September 16, REALTORS® now have the opportunity to view advance copies of the new and revised forms, clauses and accompanying resource guides. BCREA has developed a pre-launch package that includes previews of the new and revised forms and clauses (watermarked ...

The post Get to Know the New and Revised Standard Forms Coming in September appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: August 27, 2020, 10:04 pm

By Ellen Baragon, Guest Contributor As part of BCREA’s Fall 2020 Standard Forms Release, seven new standard forms and three new clauses will be released on September 16, 2020. Find out more about BCREA’s Fall 2020 Standard Forms Release at bcrea.bc.ca/forms2020. The following is a summary of the upcoming new standard forms and clauses with ...

The post Forms 2020: New Standard Forms and Clauses appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: August 27, 2020, 9:49 pm

By Ellen Baragon, Guest Contributor As part of BCREA’s Fall 2020 Standard Forms Release, ten revised standard forms will be released on September 16, 2020 Find out more about BCREA’s Fall 2020 Standard Forms Release at bcrea.bc.ca/forms2020. The following is a summary of the revised standard forms with brief descriptions outlining why they were created ...

The post Forms 2020: Revised Standard Forms appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: August 27, 2020, 9:49 pm

By Ellen Baragon, Guest Contributor As part of BCREA’s Fall 2020 Standard Forms Release, the signature blocks on more than 20 standard forms have been updated and will be released on September 16, 2020. Find out more about BCREA’s Fall 2020 Standard Forms Release at bcrea.bc.ca/forms2020. After a recent review of the brokerage signature blocks ...

The post Forms 2020: Updated Signature Blocks appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: August 27, 2020, 9:49 pm

On Episode 10 of Open House by BCREA, we preview the Fall 2020 Standard Forms Release with BCREA Professional Services Manager Jennifer Lynch. In our conversation, we outline what new and revised forms and clauses are coming, and how you can begin to familiarize yourself with the forms now. [div id=”buzzsprout-player-5176396″][/div] [script src=”https://www.buzzsprout.com/831562/5176396-fall-2020-standard-forms-release-preview.js?container_id=buzzsprout-player-5176396&player=small” type=”text/javascript” charset=”utf-8″][/script] This ...

The post PODCAST: Episode 10 – Fall 2020 Standard Forms Release Preview appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: August 27, 2020, 7:29 pm

Registration is now open for Mastering Compliance: Anti-Money Laundering Training for Brokers, a comprehensive online program designed to provide brokers and compliance officers with the tools to master FINTRAC compliance. This nine-week training program combines self-paced, online learning with virtual classes to help you build a strong culture of compliance at your brokerage and network ...

The post Register Now for Mastering Compliance: Anti-Money Laundering Training for Brokers appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: August 26, 2020, 5:27 pm

The dashboard was last updated on August 25, 2020. The BCREA Economics team has created the COVID-19 Reopening Dashboard to help REALTORS® monitor the evolution of the BC economy as the province gradually reopens. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province’s subsequent ...

The post UPDATE: COVID-19 Reopening Dashboard appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: August 25, 2020, 11:00 pm

The Province of BC has changed the Strata Property Act and the Financial Institutions Act in response to the recent escalation of insurance premiums and deductibles. In a communication to Strata Managers, the Real Estate Council of BC (RECBC) highlighted that now: Strata corporations are required to inform owners as soon as it is feasible ...

The post Province Revises Strata Property Act in Response to Insurance Crisis appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: August 25, 2020, 7:23 pm

To view the BCREA Housing Forecast Update PDF, click here. Vancouver, BC – August 25, 2020. The British Columbia Real Estate Association (BCREA) released its 2020 Third Quarter Housing Forecast Update today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to rise 6.5 per cent to 82,380 units this year, after recording ...

The post BCREA 2020 Third Quarter Housing Forecast Update: Surprisingly Strong Recovery to Propel Housing Market in 2021 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: August 25, 2020, 11:55 am

Due to COVID-19 the 2021 Banff Western Connection Conference, which was to be held in January 2021 at the Fairmont Banff Springs Hotel in Banff, Alberta, has been cancelled. Banff Western Connection means so much to all of us at BCREA and we’re disappointed to share this news. However, it’s important that we all remain ...

The post Banff Western Connection Cancelled appeared first on British Columbia Real Estate Association.

Author: April van Ert
Posted: August 24, 2020, 9:52 pm

On September 16, BCREA will release seven new standard forms, three new clauses and a number of revised forms on WEBForms®. The new forms will be accompanied by guides that will also be posted on WEBForms®, while additional resources on the revised forms will be made available on the Standard Forms Resource Centre. What forms ...

The post Get Ready for BCREA’s Fall 2020 Standard Forms Release appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: August 13, 2020, 7:42 pm

This fall, BCREA is launching Mastering Compliance: Anti-Money Laundering Training for Brokers, a nine-week program created to support managing brokers and compliance officers in meeting anti-money laundering and FINTRAC requirements. This comprehensive program will provide learners with the knowledge, skills and resources to: navigate an audit or examination with confidence, implement effective brokerage compliance training, ...

The post Get Ready for Mastering Compliance: Anti-Money Laundering Training for Brokers appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: August 13, 2020, 6:33 pm

Background Resources Quick Links Last updated: September 22, 2020 This page contains background information on the Fall 2020 Standard Forms Release, information and resources to help Realtors prepare for use of the forms, and quick links to other relevant resources. BCREA will update this page as new information and resources are available. Background On September ...

The post Fall 2020 Standard Forms Release appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: August 13, 2020, 6:30 pm

For the complete news release, including detailed statistics, click here. Vancouver, BC – August 13, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 10,090 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July 2020, an increase of 26.6 per cent from July 2019. The average MLS® residential ...

The post Strong Recovery Continues for BC Housing Markets appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: August 13, 2020, 11:55 am

By Ellen Baragon, Guest Contributor The federal government has extended the Canada Emergency Commercial Rent Assistance (CECRA) for another month to help small businesses cover rental costs through August 2020. This follows a previous CECRA extension for the month of July. CECRA provides forgivable loans to qualifying commercial property owners to cover 50% of three ...

The post Canada Emergency Commercial Rent Assistance for Commercial Owners Extended appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: August 12, 2020, 6:34 pm

BCREA's new online Disclosures in Real Estate (DIRE) course can help you better understand the scope of your disclosure obligations.

The post BCREA Launches Disclosures in Real Estate Course appeared first on British Columbia Real Estate Association.

Author: April van Ert
Posted: August 6, 2020, 4:49 pm

BCREA’s new Standard Forms Resource Centre is now available for REALTORS® and managing brokers! The comprehensive platform is the new go-to for standard forms training materials and resources and was created to help REALTORS® and managing brokers make the most of BCREA standard forms and raise the bar professionally. To access the Standard Forms Resource ...

The post Standard Forms Resource Centre Now Available: Here’s What You Need to Know appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: August 5, 2020, 2:06 pm

On September 16, BCREA will release seven new standard forms, three new clauses and a significant number of revisions to existing forms. Managing brokers are invited to join the virtual Managing Broker Community of Practice on Wednesday, August 19 at 10:00 am to learn more about the upcoming standard forms release. To register for the ...

The post Managing Brokers Invited to Webinar on Fall 2020 Standard Forms Release appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: July 30, 2020, 10:07 pm

On Episode 9 of Open House by BCREA, we ask the question: does racism exist in real estate in Canada? Joining our discussion and to help explore solutions we welcome three guests: Bethany King, a Black Toronto-area Realtor who is advocating for change; Satnam Sidhu, a BC Realtor with 40 years of experience and time spent ...

The post PODCAST: Episode 9 – Does Racism Exist in Real Estate? appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: July 30, 2020, 9:37 pm

As REALTORS®, you know that forms and clauses are at the heart of your day-to-day real estate practice. And we know that, too. BCREA is committed to providing you with high quality, relevant, and updated standard forms and clauses, so you and your clients can complete transactions with confidence.   Over the coming weeks, we ...

The post Standard Forms Resource Centre Launching in August, Major Form Release This Fall appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: July 30, 2020, 6:14 pm

In BC, real estate contracts are only available in English. However, clients may prefer to communicate in a language other than English and may choose to work with a REALTOR® who can communicate in this language. When this happens, and especially when such clients have not purchased property in BC before, there is an opportunity ...

The post Lost in Translation: Avoiding Misunderstandings When Dealing with Clients in Languages Other Than English #528 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: July 30, 2020, 4:59 pm

BCREA conducted a follow-up survey on the impacts of COVID-19 faced by REALTORS®. The survey was completed by 1,950 Realtors from all boards between July 13 and July 20. A quarter of Realtors (26 per cent) continue to report no income from transactions since the end of May. Respondents’ most common reason for not receiving ...

The post REALTORS® Continue to Be Hit Hard by Economic Slowdown from COVID-19 appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: July 30, 2020, 4:44 pm

By Ellen Baragon, Guest Contributor How many Canadians realize that unsafe radon gas exposure commonly found in some homes is the second leading cause of lung cancer in Canada, or that 3,360 Canadians died last year as a result? The spectre of radon gas exposure in homes has been a longstanding but little known health ...

The post Radon Gas Accredited Webinar a Hit With REALTORS®, August and September Registration Open appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: July 30, 2020, 3:36 pm

The City of Vancouver’s Empty Homes Tax levies a tax against certain residential properties within the City of Vancouver based on how they are used. If an owner fails to make proper declarations or pay the proper tax, a lien can be issued against the property. When it comes to a real estate transaction, buyers ...

The post Standard Forms Spotlight: Using BCREA Clauses to Address Vancouver’s Empty Homes Tax appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: July 30, 2020, 3:13 pm

With an announcement on July 20, the BC Government is giving landlords and tenants information to help them plan for the near future. The ban on residential evictions for non-payment of rent will be lifted before September 1, which means full rent will be due in September. Repayment plans The government has published a repayment ...

The post Rent Repayment Plans and Other Residential Tenancy Updates appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: July 23, 2020, 5:23 pm

The latest round of changes to the Canada Emergency Wage Subsidy (CEWS) program broaden its reach by allowing entities that use the cash method of accounting to use accrual-based accounting to calculate their revenues. This is one of the changes that the Canadian Real Estate Association (CREA) had advocated for to make the program accessible to ...

The post CEWS Now Allows for Accrual-based Accounting appeared first on British Columbia Real Estate Association.

Author: April van Ert
Posted: July 22, 2020, 9:09 pm