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's housing market continues to recover from the COVID-19 downturn seen in April and part of May. MORE
Posted: August 4, 2020, 11:06 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
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

British Columbia Real Estate Association

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

BC Monthly Real GDP Estimate for May 2020 & Flash Estimate for June 2020 (Updated: July 31, 2020) The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for May 2020 is -9.0 per cent, an improvement from -10.6 per cent in April. For comparison, the Canadian economy contracted 13.8 ...

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

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

BCREA's Economics team has launched a weekly dashboard to help Realtors understand and monitor the progression of the COVID-19 virus.

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

Author: April van Ert
Posted: July 31, 2020, 5:37 am

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

The dashboard was last updated on July 29, 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: July 29, 2020, 1:00 am

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

By Ellen Baragon, Guest Contributor Even when REALTORS® adapt strict COVID-19 safety protocols (you can review BCREA’s guidelines here), hosting open houses increases the risk of exposure to COVID-19. Hosting open houses also results in another type of exposure for Realtors: exposure to public scrutiny. With British Columbians anxiously watching the latest transmission numbers, neighbours ...

The post COVID-19 and a Different Type of “Exposure” Risk appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: July 16, 2020, 9:16 pm

Watch BCREA Chief Economist Brendon Ogmundson discuss the June 2020 statistics. [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/RlmKMIjZG4g” 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 – July 2020 appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: July 16, 2020, 4:50 pm

When working with buyers in a real estate transaction in BC, REALTORS® may choose to use the Buyer’s Agency Exclusive Contract. BCREA has created a new video for you to share with your clients to help them better understand the purpose and content of this common standard form. The Buyer’s Agency Exclusive Contract outlines the ...

The post VIDEO: Help Your Clients Understand the Buyer’s Agency Exclusive Contract appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: July 15, 2020, 9:03 pm

By Carlos MacDonald, Director of Land Titles, Land Title and Survey Authority of British Columbia If a property owner or buyer encounters a discriminating covenant in land title records, it can be a shocking surprise. Discriminating covenants are clauses that restrict the sale, ownership, occupation or use of land on the basis of sex, race, ...

The post LTSA Historic Records: Discriminating Covenants in the Land Title Register appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: July 14, 2020, 4:11 pm

For the complete news release, including detailed statistics, click here. Vancouver, BC – July 14, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 8,166 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June 2020, an increase of 16.9 per cent from June 2019. The average MLS® residential ...

The post BC Housing Markets Bounce Back in June appeared first on British Columbia Real Estate Association.

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

You’ve listed a great property on behalf of your seller client. With your marketing efforts and the attractive offering, you have received multiple offers. Sounds like an ideal scenario, right? On the seller’s side, it certainly can be. But when it comes to potential buyers, there might be some concerns. How does a buyer know ...

The post Standard Forms Spotlight: Does a Seller Have to Document They Have Reviewed an Offer? appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: July 8, 2020, 4:20 pm

Last updated: July 23, 2020 BCREA has created this dedicated page to help real estate boards and REALTORS® access resources related to real estate practice and the COVID-19 crisis. We will provide new information and resources as they become available. In addition to uploading new content here, we will send out email updates to all ...

The post COVID-19: Resources for REALTORS® appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: July 8, 2020, 3:00 pm

For Immediate Release Vancouver, BC – July 8, 2020. The British Columbia Real Estate Association (BCREA), the Real Estate Council of British Columbia, and the Office of the Superintendent of Real Estate, with support from WorkSafeBC, have developed guidance to support BC’s REALTORS® in adapting traditional “open house” practices to keep consumers safe. While BC ...

The post BC REALTORS® Adapt “Open House” Practices to Protect Consumers appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: July 8, 2020, 12:00 pm

BCREA and the Canadian Real Estate Association have partnered to offer Leadership 200 (L200) and Leadership 300 (L300) as interactive virtual courses via Zoom. If you’re involved with your board or BCREA leadership (or you’d like to be!) this is a great opportunity to take these courses online and enhance your leadership skills.   L200 ...

The post Take Your Leadership to the Next Level with L200 & L300 appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: June 29, 2020, 9:52 pm

The COVID-19 FAQ was last updated on June 26, 2020 to include updates on: LTSA Remote Witnessing Not allowing consumers access where they have symptoms or have been exposed to COVID-19 As appropriate continuing offering virtual services FINTRAC ID Tenant occupied properties – vacant possession Liability order Questions have been renumbered, as questions that are ...

The post UPDATE: Dealing with Contracts and Disclosure Requirements (COVID-19 FAQ) appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: June 29, 2020, 9:05 pm

Over the past several months, we’ve been sharing stories about the many REALTORS® across BC who are supporting their communities through the COVID-19 pandemic. For now, this will be the last post in the COVID-19 Community Care series. “A huge thanks to our fantastic agents, to Trinity Church and to the people of Kelowna, West Kelowna ...

The post COVID-19 Community Care: Brokerage Raises $17,000 for Local Food Bank appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 29, 2020, 8:37 pm

Episode 8 of Open House by BCREA, A REALTOR®’s Guide to Radon Gas, features a conversation about radon gas and real estate with Dr. Noah Quastel, Director of Law and Policy for Healthy Indoor Environments at the BC Lung Association. Radon gas isn’t new, but it’s certainly something that Realtors continue to learn about. BCREA ...

The post PODCAST: Episode 8 – A REALTOR®’s Guide to Radon Gas appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: June 29, 2020, 5:29 pm

The vast majority of BC REALTORS® – 91 per cent – have faced either a decrease of income or no income from transactions since the provincial state of emergency was announced on March 17, 2020. The reported loss of income was consistent among all boards, licence categories and both commercial and residential practice. The data ...

The post REALTORS® Are Facing Significant Hardship Due to COVID-19 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 26, 2020, 8:56 pm

Generally speaking, if a buyer breaches a contract for the purchase of real estate and the seller accepts the buyer’s refusal to perform the contract (as known as “repudiation”), an innocent seller is entitled to retain the deposit paid by the buyer under a contract of purchase and sale. But what happens when a buyer ...

The post Suing for Unpaid Deposits #527 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 26, 2020, 8:49 pm

After hearing from strata corporations, owners and other stakeholders – including REALTORS® – for several months, on June 23 the BC Government introduced legislative changes to help address the high costs of strata insurance. Strong advocacy work by BCREA and the real estate boards has resulted in BCREA being named as a contributor in the ...

The post Government’s First Actions on Strata Insurance appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: June 25, 2020, 9:35 pm

On June 24, the BC Government made it possible to evict residential tenants for reasons other than non-payment of rent. That means real estate transactions that require vacant possession can now proceed. Landlords with existing orders for eviction can take them to the courts beginning July 2, 2020, for enforcement and can enforce a writ ...

The post Blanket Ban on Residential Evictions Ends appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: June 25, 2020, 5:54 pm

BCREA has created a video for REALTORS® to share with clients to help them better understand the Multiple Listing Contract (MLC), which is used in many real estate transactions in BC. One of two common listing contracts in BC, the MLC is used when a seller engages a Realtor to list their property on the ...

The post VIDEO: Help Your Clients Understand the Multiple Listing Contract appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 25, 2020, 4:41 pm

Over the past several months, we’ve been sharing stories about the many Realtors across BC who are supporting their communities through the COVID-19 pandemic. “In true Dexter fashion, our winning agents chose to forego personal awards and gifts this year in favor of a donation on their behalf to the Resilience Without Barriers Fund. This fund ...

The post COVID-19 Community Care: REALTORS® Support Mental Health Fund for Frontline Workers appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 23, 2020, 5:43 pm

To view the Mortgage Rate Forecast PDF, click here. Highlights Mortgage rates fall to record low Canadian economy in recession, but is a recovery on the horizon? Bank of Canada hits its effective lower bound…again Mortgage Rate Outlook The second quarter of 2020 will perhaps prove to be one of the most turbulent periods in ...

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

Author: Harveen Johal
Posted: June 18, 2020, 1:30 pm

For Immediate Release Vancouver, BC – June 17, 2020. The British Columbia Real Estate Association (BCREA) welcomes the BC Financial Services Authority’s (BCFSA) interim findings on the unprecedented rise in strata insurance premiums and deductions. On behalf of BC’s 23,000 REALTORS® and 11 real estate boards, BCREA has also developed a series of recommendations for ...

The post BC REALTORS® Support BCFSA Interim Findings On Rising Strata Insurance appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 17, 2020, 6:32 pm

Over the past several months, we’ve been sharing stories about the many Realtors across BC who are supporting their communities through the COVID-19 pandemic. “We chose to support our local Share Family & Community Services as they run the local food bank. COVID-19 has drastically impacted food bank donations and they need help to support those ...

The post COVID-19 Community Care: Brokerage Supports Food Bank and ‘Soup for Seniors’ Program appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 16, 2020, 7:49 pm

For the complete news release, including detailed statistics, click here. Vancouver, BC – June 15, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 4,518 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May 2020, a decline of 45.2 per cent from May 2019. The average MLS® residential ...

The post Housing Market Activity Shows Signs of Recovery in May appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 15, 2020, 11:55 am

With Phase 2 of BC’s Restart Plan underway, REALTORS® may encounter concerns or criticism from consumers, especially online. In the latest episode of Open House by BCREA: Returning to Work and Risks to REALTOR® Reputation, Ari Indyk, VP Crisis and Risk at Edelman, provides advice on mitigating and responding to consumer concerns as we navigate ...

The post Managing Online Communities While Returning to Operation appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: June 12, 2020, 4:38 pm

British Columbia Real Estate Association (BCREA) Chief Economist Brendon Ogmundson has been re-appointed as a member of the Province of British Columbia’s Economic Forecast Council until July 2023. Ogmundson was invited to extend his current term by Minister of Finance Carole James. “COVID-19 has had unprecedented impacts on BC’s economy,” says Ogmundson. “Now more than ever, I welcome ...

The post BCREA Chief Economist Re-appointed to Economic Forecast Council appeared first on British Columbia Real Estate Association.

Author: April van Ert
Posted: June 11, 2020, 9:17 pm

This is the first post in “Standard Forms Spotlight,” a regular series of blog posts that will help REALTORS® enhance their understanding and build their knowledge of the many intricacies around provincial standard forms and clauses used in real estate transactions in BC. Learn more about what you can expect in the monthly series here. ...

The post Standard Forms Spotlight: What You Need to Know About BCREA Standard Forms appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: June 11, 2020, 4:30 pm

With questions about radon gas recently added to the Property Disclosure Statement in April 2020, REALTORS® may be looking to brush up on their knowledge about the odourless and colourless radioactive gas that occurs naturally throughout BC and which, if accumulated in homes and other buildings, can become a health risk. As a result, BCREA, ...

The post Live Online Course and FAQ Created for REALTOR® Education About Radon Gas appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: June 10, 2020, 5:07 pm

To view the BCREA Housing Forecast PDF, click here. Vancouver, BC – June 10, 2020. The British Columbia Real Estate Association (BCREA) released its 2020 Second Quarter Housing Forecast today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 21 per cent to approximately 61,000 units this year, after recording 77,347 ...

The post BCREA 2020 Second Quarter Housing Forecast: BC Homes Sales to Post Strong Recovery in 2021 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 10, 2020, 11:55 am

One of our most popular online courses has been revamped and is available again for REALTORS®. Client Engagement Excellence: Negotiating Skills is the updated version of what was previously known as Customer Service Excellence and the REALTOR® Brand and aims to strengthen Realtor competence in the core engagement skill of negotiating. This course helps Realtors ...

The post New Online Course Helps REALTORS® Sharpen Client Engagement and Negotiating Skills appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: June 9, 2020, 7:15 pm

Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “Sotheby’s International Realty Canada, Victoria office, is proud to support our community with our “5 Ways You Can Have a Positive Impact on Your Community in a Trying Time” campaign, posted boldly in ...

The post COVID-19 Community Care: Victoria Brokerage Shares Positive Messages with Community appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 9, 2020, 5:13 pm

By Ellen Baragon, Guest Contributor The federal government’s Regional Relief and Recovery Fund (RRRF) could assist brokers who, for various reasons, have not been able to take advantage of other programs such as the Canada Emergency Business Account (CEBA). The $1 billion fund was launched in May to support small to medium businesses struggling to recover ...

The post Can the Regional Relief and Recovery Fund Help You? appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 9, 2020, 4:01 pm

BCREA, the Real Estate Council of BC (RECBC) and the Real Estate Errors & Omissions Insurance Corporation (E&O) are pleased to introduce the What Would You Do? Presentation Series for managing brokers. This is a series of PowerPoint presentations that managing brokers can give to their REALTORS® to facilitate discussions around risk management. Each presentation ...

The post BCREA, RECBC and E&O Create Risk Management Resource for Managing Brokers appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: June 5, 2020, 8:28 pm

Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “As of late, we have had a lot of emotions with all that has been going on in the world, and have been feeling helpless. After brainstorming about the ways in which we ...

The post COVID-19 Community Care: Vancouver REALTOR® Supports Frontline Workers appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 3, 2020, 4:03 pm

Recently the Canadian Real Estate Association (CREA) uploaded a Coronavirus Statement & Consent form to WEBForms® for REALTORS® to use with clients. In signing the form, clients state that they currently don’t have any COVID-19 symptoms and haven’t been in contact with anyone with symptoms. The person signing the form is also giving the brokerage ...

The post Using CREA’s Health Waiver appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 3, 2020, 4:00 pm

By Ellen Baragon, Guest Contributor (This post was updated June 2 to include the government of BC’s new order preventing landlords who are eligible for CECRA from evicting tenants.) On Monday, June 1, BC’s Minister of Finance Carole James announced a new order under the Emergency Protection Act prohibiting commercial landlords who are eligible for ...

The post UPDATE: The Canada Commercial Rent Assistance Program Can Help You And Your Clients appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: June 2, 2020, 4:30 pm

To view the full Commercial Leading Indicator PDF, click here. The BCREA Commercial Leading Indicator (CLI) was down sharply in the first quarter of 2020 from 134.2 to 123.2, reflecting the slowdown prompted by the COVID-19 pandemic. Compared to the same time last year, the index was down by 4.8 per cent. The pandemic-induced shutdown ...

The post Commercial Activity Nosedives in 2020 Q1 appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: June 1, 2020, 7:25 pm

The COVID-19 pandemic has deeply affected many parts of our society and economy – including the real estate industry. Terms many of us hadn’t heard of just three months ago – social distancing, self-isolation, lockdown, and Zoom conferencing – are now as common as, “What’s for lunch?” Buying real estate, particularly in a caveat emptor ...

The post Necessity is the Mother of Invention #526 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: May 29, 2020, 7:39 pm

Episode 7 of Open House by BCREA, Returning to Work and Risks to REALTOR® Reputation, features a conversation with Ari Indyk, VP Crisis and Risk at Edelman. With BC entering Phase 2 of its Restart Plan and Realtors and Managing Brokers beginning to resume work in larger numbers, Ari highlights some of the potential risks ...

The post PODCAST: Episode 7 – Returning to Work and Risks to REALTOR® Reputation appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: May 28, 2020, 9:53 pm