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)

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
The mortgage stress test, also known as Guideline B-20, is taking a toll on housing sales throughout the province, and Vancouver Island is no exception. MORE
Posted: February 1, 2019, 9:27 pm
Sales of single-family homes in December dropped by 48 per cent from one year ago and were 44 per cent lower than in November. Annual sales of single-family homes in 2018 totalled 4,543, a 19 per cent drop from 2017. MORE
Posted: January 2, 2019, 11:07 pm
Sales of single-family homes in November dropped by 28 per cent from one year ago and were 21 per cent lower than in October. MORE
Posted: December 3, 2018, 11:36 pm
Sales of single-family homes in October were 11 per cent higher than in September but dipped by 16 per cent from October 2017. MORE
Posted: November 1, 2018, 8:57 pm
Sales of single-family homes in September dropped by 32 per cent from one year ago and 25 per cent from August 2018. MORE
Posted: October 1, 2018, 8:46 pm
Sales of single-family homes in August were seven per cent higher than in July but dipped by 14 per cent from August 2017. MORE
Posted: September 4, 2018, 9:42 pm
Prices of single-family homes, apartments, and townhouses continue to rise in the VIREB area despite cooling sales in some markets. MORE
Posted: August 1, 2018, 9:58 pm
Last month, 444 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 518 in May and 617 one year ago. The number of apartments changing hands last month dropped by 21 per cent. MORE
Posted: July 4, 2018, 9:05 pm
New real estate rules imposed by the Office of the Superintendent of Real Estate will significantly change the way REALTORS® and clients work together. MORE
Posted: June 21, 2018, 4:06 pm
The benchmark price of a single-family home in the VIREB area broke the $500,000 mark in May, rising to $507,700, a 17 per cent increase from one year ago. MORE
Posted: June 1, 2018, 9:46 pm
The Vancouver Island Real Estate Board (VIREB) is pleased to announce that Ian Lindsay has been named VIREB’s 2017 REALTOR® of the Year. MORE
Posted: May 7, 2018, 9:37 pm

British Columbia Real Estate Association

Watch BCREA Chief Economist Brendon Ogmundson discuss the October 2019 statistics. [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/jX25CBkYxIk” 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 Webcast November 2019 appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: November 14, 2019, 10:00 pm

For the complete news release, including detailed statistics, click here. Vancouver, BC – November 13, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 7,666 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October, an increase of 19.3 per cent from the same month last year. The average ...

The post Home Sales Continue Normalization Trend in October appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: November 13, 2019, 12:55 pm

To view the BCREA Housing Forecast PDF, click here. Vancouver, BC – November 6, 2019. The British Columbia Real Estate Association (BCREA) released its 2019 Fourth Quarter Housing Forecast today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 1.8 per cent to about 77,100 units this year, after recording 78,505 ...

The post BCREA 2019 Fourth Quarter Housing Forecast: BC Homes Sales Carry Momentum into 2020 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: November 6, 2019, 1:00 pm

BC Monthly Real GDP Estimate for August 2019 (Updated: October 31, 2019) The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for August is 1.5 per cent, down from 2.1 estimated annual growth in July. That is the slowest estimated growth since December 2009. After a stronger start to ...

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

Author: Harveen Johal
Posted: October 31, 2019, 7:23 pm

Roughly twice a year my heart stops when a claim comes to my attention. Why? Because a licensee reports that the seller has sold the property twice! Naturally, the seller is upset. They only have one property to sell and two buyers demanding it.  In these instances, the seller typically accepts an offer for the ...

The post Back-up offers: There’s a clause for that #519 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: October 21, 2019, 4:00 pm

British Columbia Real Estate Association’s (BCREA) Government Relations team attended the annual 2019 Union of BC Municipalities (UBCM) Convention in Vancouver from September 23 to 27. On the first day of the convention, VP of Government Relations and Stakeholder Engagement Trevor Hargreaves participated in a panel presentation on anti-money laundering, along with Attorney General David ...

The post BCREA Calls for Safer Homes at the 2019 UBCM Convention appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: October 15, 2019, 9:53 pm

For the complete news release, including detailed statistics, click here. Vancouver, BC – October 15, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 6,938 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September, an increase of 24 per cent from the same month last year. The average ...

The post Market Momentum Continues into the Fall appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: October 15, 2019, 12:00 pm

Self-directed learning will be introduced to the Professional Development Program (PDP) on January 1, 2020, and REALTORS® have been asking great questions about the concept of self-directed learning and what it means in practice. To find out more about self-directed learning and how it fits into the PDP, click here. Below, find answers to five ...

The post Self-Directed Learning and the PDP appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: October 9, 2019, 3:50 am

The BC Real Estate Association (BCREA) Board of Directors is seeking to appoint a Director to the Board of the Real Estate Errors and Omissions Insurance Corporation (REEOIC). This appointment term would commence February 1, 2020. About the Real Estate Errors & Omissions Insurance Corporation The REEOIC’s purpose, as stated in the Real Estate Services ...

The post BCREA Appointee to the Real Estate Errors & Omissions Insurance Corporation appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: October 9, 2019, 2:15 am

egistration for BCREA's upcoming Ideas Into Action Managing Brokers' Conference is now open to all REALTORS®. The conference, taking place at Kelowna's Coast Capri Hotel on October 16-17, will focus on issues facing managing brokers but the topics are sure to be of interest to all REALTORS®. Plus, attendees receive 3 category C PDP credits.

The post Managing Brokers’ Conference Now Open To All REALTORS® appeared first on British Columbia Real Estate Association.

Author: April van Ert
Posted: October 1, 2019, 11:36 pm

Darlene Hyde, Chief Executive Officer of the BC Real Estate Association (BCREA), is pleased to announce the appointment of Brendon Ogmundson as Chief Economist for BCREA. Brendon has been with BCREA for nine years, most recently serving as Deputy Chief Economist. Earlier this year, he was awarded the Crystal Ball Award by the Association of ...

The post Brendon Ogmundson Steps Into Role of BCREA Chief Economist appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: October 1, 2019, 3:00 pm

To view the Market Intelligence Report PDF, click here. Summary Findings: Evaluating the First-Time Home Buyer Incentive (FTHBI) based on its principle eligibility criteria, the highest potential uptake of the FTHBI would be in more affordable regions located outside of the Lower Mainland. In contrast, the lowest uptake would be in the Lower Mainland and ...

The post Potential Uptake of the First-Time Home Buyer Incentive appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 26, 2019, 12:00 pm

To view the Mortgage Rate Forecast PDF, click here. Highlights Stress test limiting impact of falling mortgage rates Canadian economy: Strong second quarter, but will it last? Bank of Canada on hold for now Mortgage Rate Outlook Canadian mortgage rates continued to decline in the third quarter as rising trade tensions between the United States ...

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

Author: Janie Cranfield
Posted: September 24, 2019, 10:20 pm

Want to know more about the upcoming changes to the Professional Development Program (PDP)? The British Columbia Real Estate Association (BCREA) and real estate boards have released new resources to support you through the transition to the new PDP framework, effective January 1, 2020. PDP transition web pageBCREA and the boards have launched the PDP transition ...

The post The PDP Transition: Resources for REALTORS® appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 23, 2019, 11:09 pm

Radon, a naturally occurring odourless and colourless radioactive gas, may be out of sight but it certainly shouldn’t be out of mind when it comes to real estate transactions. In fact, radon is present at different concentrations (depending on the makeup of bedrock or sediment) throughout Canada. If radon levels are too high in a ...

The post REALTORS® and Radon: Protecting Buyers and Sellers appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 23, 2019, 10:26 pm

In its newest report (the “Report”), the British Columbia Law Institute’s formidable committee of strata experts (the “Committee”) recommends more changes to the Strata Property Act (the “Act”). If adopted, these changes will make it easier for a REALTOR® to confirm how strata parking is designated. 1 Background Depending on the circumstances, a strata parking ...

The post Strata Parking May Get Simpler #518 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 19, 2019, 8:07 pm

These charts provide year-to-date information on the pace of MLS® home sales for the province as well as in each of the BCREA member board regions and a comparison of current year sales with the previous year.

The post Markets at a Glance: August 2019 appeared first on British Columbia Real Estate Association.

Author: opacity
Posted: September 16, 2019, 3:30 pm

For the complete news release, including detailed statistics, click here. Vancouver, BC – September 12, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 7,093 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August, an increase of 4.9 per cent from the same month last year. The average ...

The post Housing Demand Continues to Recover in August appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 12, 2019, 12:00 pm

To view the full Commercial Leading Indicator PDF, click here. The BCREA Commercial Leading Indicator (CLI) rose by 0.7 points to 135.7 in the second quarter of 2019. Compared to this time one year ago, the index is unchanged. Slowing provincial economic activity continued in the second quarter of 2019, with declines in retail sales ...

The post Continued Stabilizing Commercial Activity in 2019 Q2 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 9, 2019, 9:30 am

Join ABC solutions in Victoria, BC on September 23-25 for Money Laundering in Canada 2019, Canada’s premiere event in the field of money laundering compliance. This year’s theme is Compliance: Making Sense of the Details. The conference promises to be informative and pragmatic, looking at trending crimes, risks, compliance practices and regulatory change. Speakers include ...

The post Money Laundering in Canada 2019 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: September 4, 2019, 5:29 pm

BC needs a provincial framework for remediation to ensure homes that have been used to produce drugs are safe from mould, pesticides and electrical and fire hazards. BC’s neighbours have made significant strides towards these goals. In Alberta designated officials conduct an inspection, issue an order to vacate and outline the required procedure to remediate ...

The post Stronger Consumer Protection for Healthy Homes appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: August 28, 2019, 5:20 pm

The federal B-20 stress test is preventing many British Columbians from achieving their dream of home ownership. The Office of the Superintendent of Financial Institutions enacted new mortgage rules in 2018, requiring borrowers to qualify for a mortgage at the higher of either the rate they’ve negotiated with their bank plus two per cent or ...

The post B-20 is Stressing Potential Home Buyers appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: August 28, 2019, 5:19 pm

Flooding poses significant risks to communities, and the effects can be widespread and last for years. Floodplain maps illustrate where floodwaters are expected to go, which makes them the most logical first step in flood management. To be effective, these maps also need to be updated regularly. Unfortunately, there hasn’t been a coordinated program in ...

The post How to Fund Flood Mapping appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: August 28, 2019, 5:17 pm

Learn more about working with the recently updated Privacy Notice and Consent form The British Columbia Real Estate Association (BCREA) recently updated the Privacy Notice and Consent form, which explains to consumers how you’ll use and disclose their information. To learn more about the changes and working with the updated form, check out this short video ...

The post Privacy Notice and Consent Form Resources appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: August 22, 2019, 4:00 pm

Help your clients understand the incentive and whether they can benefit In September, the federal government will launch the First-Time Home Buyer Incentive, an interest-free loan that doesn’t require monthly payments. The incentive is intended to help reduce monthly mortgage payments without increasing the amount needed to save for a down payment. How does it ...

The post First-Time Home Buyer Incentive Launches in September appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: August 22, 2019, 4:00 pm

Will Rogers defined the first law of holes as follows: “When you find yourself in a hole; stop digging.” A recent discipline decision of the Real Estate Council of British Columbia1 suggests the licensee involved should have taken Mr. Rogers’ advice. The licensee acted as the designated agent of the seller in the sale of ...

The post The First Law of Holes #517 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: August 15, 2019, 7:08 pm

Register today for BCREA’s second Managing Brokers’ Conference and join managing and associate brokers from across BC on October 16 and 17 at the Coast Capri Hotel in beautiful Kelowna for a day of networking and learning! This year’s conference theme is Ideas into Action, and the all-day conference on October 17 will take an ...

The post Ideas into Action: BCREA Managing Brokers’ Conference appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: August 14, 2019, 3:30 pm

For the complete news release, including detailed statistics, click here. Vancouver, BC – August 13, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 7,930 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July, an increase of 12.4 per cent from the same month last year. The average ...

The post Housing Demand Improves in July appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: August 13, 2019, 11:55 am

When floods strike, individuals and communities are subject to significant economic and social costs. Many British Columbians are unaware of the flood risk they face, due to out-of-date floodplain maps. BC has the opportunity to take steps to minimize damage from future floods—this is the purpose of the British Columbia Real Estate Association’s (BCREA) initiative ...

The post Floodplain Maps Action Plan appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: July 30, 2019, 8:01 pm

The Strata Property Act took effect on July 1, 2000, and was a significant improvement over the Condominium Act. Nonetheless, no legislation is perfect and the intervening years have provided ample opportunity for real estate practitioners and others to identify improvements that can be made. BCREA Recommends the Provincial Government: Ensure legislation specifies what is required to be ...

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

Author: Harveen Johal
Posted: July 25, 2019, 8:22 pm

Flooding poses catastrophic risks to BC’s economic vitality, safety, environment, property owners and communities. BCREA’s flood protection work focuses on floodplain maps, a strong role for the provincial government and education for REALTORS® and their clients. BCREA Recommends the Provincial Government: Take the lead, working with local and federal governments, to ensure floodplain maps are ...

The post Flood Protection appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: July 25, 2019, 7:55 pm

The residential real estate market is a continuum, with social housing on one end and luxury housing on the other. Rental housing and market housing affordability are important components that help keep the continuum operating smoothly, ensuring appropriate housing options for all and matching supply with demand. BCREA recommends that governments: Ensure the Property Transfer ...

The post Housing Affordability appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: July 24, 2019, 6:15 pm

On January 1, 2005, the Real Estate Services Act and Real Estate Development Marketing Act were brought into force. These statutes replace Parts 1 and 2 of the former Real Estate Act. Real Estate Services Act Real Estate Development Marketing Act BCREA believes that changes to the practice of real estate must be made with care to avoid unintended negative ...

The post Real Estate Legislation appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: July 24, 2019, 5:52 pm

A recent Civil Resolution Tribunal decision1 highlights some important practice points for licensees in transactions involving strata condominiums. The buyer of a strata condominium claimed against the seller’s agent in misrepresentation and false advertising arising from the description of the building as having a “fully rainscreened exterior” in the MLS® listing. The buyer was surprised ...

The post Pitfalls in Transactions Involving Strata Condominiums #516 appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: July 18, 2019, 8:30 am

To view the Market Intelligence Report PDF, click here. Summary Findings: The decline in home sales in 2018 was largely due to market factors like interest rates and affordability Without the stress test, home sales in BC would have been about 7,500 sales—or 10% higher—in 2018 Approximately $500 million in BC economic activity was lost ...

The post The Impact of the B20 Stress Test on BC Home Sales in 2018 appeared first on British Columbia Real Estate Association.

Author: opacity
Posted: July 16, 2019, 8:30 am

For the complete news release, including detailed statistics, click here. Vancouver, BC – July 15, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 6,960 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June, a decline of 11.8 per cent from the same month last year. The ...

The post BC Home Sales Trend Lower in June appeared first on British Columbia Real Estate Association.

Author: opacity
Posted: July 15, 2019, 8:30 am

Join BCREA’s Board of Directors BCREA is seeking REALTORS® for its Board of Directors, for election at its next AGM on March 24, 2020. Ideally, the candidates should have served previously on boards of directors in organized real estate and should come equipped with governance and a range of business skills and backgrounds, including commercial. ...

The post Organized Real Estate Wants You! appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: July 11, 2019, 8:30 am

The Real Estate Council of BC (RECBC) and the British Columbia Real Estate Association (BCREA) have signed an agreement that will see the management of regulatory education for real estate professionals transition to RECBC in the fall of 2019. Through this agreement, RECBC will increase its oversight, control and direct involvement in the development and ...

The post RECBC and BCREA Work Together to Change Regulatory Education appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: July 11, 2019, 8:30 am

How to secure coverage during wildfire season Most buyers won’t realize there’s a difference between an insurance company giving them a quote for an insurance policy and an insurance company binding an insurance policy. But as a REALTOR®, you certainly should. When an insurance provider “binds” an insurance policy it means they’ve issued the policy ...

The post In a Bind Over Home Insurance? appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: July 11, 2019, 8:30 am

On June 20, the Canadian government passed legislation confirming October 17, 2018 as the legalization date for non-medicinal cannabis. Under the legislation, individuals will be able to grow up to four cannabis plants per residence. Four plants may not sound like much, but what if it’s grown in a closet? Or a 600-square foot strata ...

The post Remediating Homes Used to Produce Drugs appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: July 1, 2019, 9:58 pm

Many strata owners do not know they may be personally liable to reimburse their strata corporation for its insurance deductible, the portion of the loss the insured must pay in an insurance claim, which can be many thousands of dollars. The British Columbia Law Institute’s formidable committee of strata experts (the “Committee”) recently recommended changes ...

The post Liability For Strata Insurance Deductibles #515 appeared first on British Columbia Real Estate Association.

Author: opacity
Posted: June 20, 2019, 8:30 am

CREA ready for early rollout in BC Good news from the Canadian Real Estate Association (CREA)—the new WEBForms® platform will be available in BC as early as mid-July. CREA will reach out to BC REALTORS® who are using WEBForms® about a week before the launch date with some training materials and to announce the exact ...

The post New WEBForms® Platform to Launch in July appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: June 14, 2019, 8:30 am

For the complete news release, including detailed statistics, click here. Vancouver, BC – June 14, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 8,221 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, a decline of 7 per cent from the same month last year. The ...

The post BC Home Sales on the Rise in May appeared first on British Columbia Real Estate Association.

Author: opacity
Posted: June 14, 2019, 8:30 am

How high do you score? One of the best parts of being a REALTOR® are the relationships you build with clients. Still, getting to know new clients isn’t without risk and veteran REALTORS® all have their stories of awkward or even dangerous situations they’ve experienced over the years. There are lots of resources available online ...

The post REALTOR® Safety Quiz appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: June 14, 2019, 8:30 am

A retirement savings option for REALTORS® REALTORS® in BC are generally classified as self-employed. Self-employed individuals who don’t have access to a workplace pension plan need to consider other retirement savings options. A Pooled Registered Pension Plan (PRPP), which pools your assets with those of others to reduce administration costs, is one option that you ...

The post Pooled Registered Pension Plans appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: June 14, 2019, 8:30 am

Help protect your clients this wildfire season! Wildfires have had a devastating impact on communities across BC in recent years. This year’s wildfire season has already begun and, as a REALTOR®, you can help protect your clients by reminding them of the importance of home insurance, both year-round and when buying or selling a home. ...

The post Wildfire Season and Home Insurance appeared first on British Columbia Real Estate Association.

Author: opacity
Posted: May 17, 2019, 8:30 am

Opportunities for action A public inquiry into money laundering has now been ordered. This has been a media favourite for a long time, and certainly since the reports of Peter German and the Expert Panel on Money Laundering in BC Real Estate were published on May 9. Here’s a quick summary of BCREA’s actions, analysis ...

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

Author: Janie Cranfield
Posted: May 17, 2019, 8:30 am

Moving the dial on real estate advocacy issues Market housing affordability, anti-money laundering and remediating properties used to produce drugs were the priorities at this year’s Government Liaison (GL) Days, which took place in Victoria at the Hotel Grand Pacific from April 28 to 30. GL Days is BCREA’s key advocacy event that brings together ...

The post BCREA’s Government Liaison Days appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: May 17, 2019, 8:30 am

Media coverage that captured REALTOR® professionalism On Monday, April 15, 2019, the British Columbia Real Estate (BCREA) headlined the provincial and national news after it released a series of recommendations and best practices to government to help curb money laundering. The recommendations were developed collaboratively with four other organizations: the Real Estate Board of Greater ...

The post Real Estate Professions Taking the Lead to Curb Money Laundering appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: May 17, 2019, 8:30 am

Changes coming June 13 On June 13, changes to the Assignment of Contract of Purchase and Sale – New Development and Non-Developer and the Privacy Notice and Consent forms will come into effect. While none of the changes will have a significant impact on practice, it’s important for REALTORS® to familiarize themselves with the changes ...

The post Standard Forms Reminder appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: May 17, 2019, 8:30 am