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 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
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

British Columbia Real Estate Association

Rural Real Estate Essentials is a new online course offered by BCREA, aimed to help BC REALTORS® expand their reach to rural areas. Promoting knowledge and business growth, the new course provides REALTORS® with foundational knowledge on rural real estate and helps reinforce and enhance the knowledge of REALTORS® already practicing in these areas. Special ...

The post New Online Course Helps REALTORS® Expand Reach to Rural Areas appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: February 21, 2020, 9:53 pm

Vancouver, BC – February 19, 2020. As the voice of BC’s 23,000 REALTORS®, the British Columbia Real Estate Association (BCREA) welcomes Minister of Finance Bill Morneau’s announcement of changes to the benchmark rate used to determine the minimum qualifying rate for insured mortgages, also known as the “stress test”. Minister Morneau announced that as of April 6, ...

The post BCREA Welcomes Change to Stress Test appeared first on British Columbia Real Estate Association.

Author: April van Ert
Posted: February 19, 2020, 1:00 pm

As a result of recent changes to the strata insurance landscape, BCREA has created a Strata Insurance Clause to help REALTORS® support their clients when entering the strata property marketplace. The clause is now available for REALTORS® to use on WEBForms®, and a guide with more details on how to use the clause is available ...

The post The Strata Insurance Clause, and Other Ways to Help with Strata Transactions appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: February 18, 2020, 7:05 pm

Watch BCREA Chief Economist Brendon Ogmundson discuss the January 2020 statistics. [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/YmWmXG91AXs” 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 – February 2020 appeared first on British Columbia Real Estate Association.

Author: Janie Cranfield
Posted: February 14, 2020, 5:42 pm

The BC Real Estate Association (BCREA) Board of Directors (Board) is seeking to appoint a Finance Specialist to the BCREA Finance and Audit Committee. The successful applicant requires an accounting designation (CPA) and relevant financial management experience. This appointment term would commence May 1, 2020. About British Columbia Real Estate Association BCREA is the professional ...

The post Call for Letters of Interest – Appointee to the BCREA Finance and Audit Committee appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: February 14, 2020, 1:10 am

For the complete news release, including detailed statistics, click here. Vancouver, BC – February 13, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 4,426 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in January 2020, an increase of 23.7 per cent from the 3,579 units sold in January ...

The post BC Housing Markets Off to a Strong Start in 2020 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: February 13, 2020, 1:00 pm

Whether it’s home insurance for homeowners, life insurance for families, or business insurance for business owners, insurance is a big part of life. Former international soccer star David Beckham reportedly had his legs insured for 195 million dollars. And it makes sense – if you’ve got something you value, you protect it. But Beckham’s protection ...

The post Three Tips for Managing REALTOR® Risk from Leslie Howatt of E&O appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: February 12, 2020, 11:30 pm

Cannabis and Real Estate: The New Paradigm is a new online course offered by BCREA, designed to help REALTORS® address questions raised by the legalization of recreational cannabis in Canada, and keep them on the vanguard of current market events. Special Offer: Use the coupon code 1GY0GMHE before March 31, 2020, to receive 10% this ...

The post New Online Course on Cannabis Supports REALTORS® in Navigating Legalization appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: February 11, 2020, 6:10 pm

In a win for homeowners and REALTORS®, the BC Real Estate Association (BCREA), Canadian Real Estate Association and real estate boards have successfully advocated for changes to the federal Home Buyers’ Plan (HBP).1 Canadian homeowners who have experienced a breakdown in their marriage or common-law partnership may now be able to qualify for the HBP. ...

The post Organized Real Estate Successfully Lobbies for Modernizing the Home Buyers’ Plan appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: February 10, 2020, 9:41 pm

Lead generation is an important part of a REALTOR®‘s work but there are some risks too, especially when it comes to telemarketing. REALTORS® and brokerages need to understand their role in protecting consumer privacy before picking up the phone – and it starts with the national Do-Not-Call List. What’s the national Do-Not-Call List? The Canadian ...

The post Best Practices for Do-Not-Call Lists appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: February 6, 2020, 4:00 pm

By Victor Khong, REALTOR® Uber has finally arrived in BC! While it may appear to be an industry disruptor, what it really offers is as old as time: exceptional customer service. Here are five things REALTORS® can learn from this so-called industry disruptor: 1. Provide timely communication – Part of the appeal of Uber is ...

The post 5 Things REALTORS® Can Learn from Uber appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: February 4, 2020, 6:28 pm

BC Monthly Real GDP Estimate for November 2019 (Updated: January 31, 2020) The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for November is 1.1 per cent, down from 1.5 per cent annual growth in October. That is the lowest estimated growth since December 2009. Estimated real GDP growth ...

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

Author: Harveen Johal
Posted: January 31, 2020, 6:28 pm

What concerns could a waterfront lot, a rural farm, and an older urban home all have in common? One possible answer is that each of these types of property could be subject to the provisions of the Heritage Conservation Act or a municipal bylaw respecting heritage value. Heritage concerns may affect the value of the ...

The post Disclosure of Archaeological Findings: More Digging May Be Required #522 appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: January 29, 2020, 11:03 pm

Episode 1 features a conversation with Leslie Howatt, Executive Officer of the Real Estate Errors and Omissions Insurance Corporation.

The post PODCAST: Episode 1 – Managing REALTOR® Risk in 2020 appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: January 29, 2020, 10:29 pm

Today, BCREA is proud to launch Open House by BCREA, a monthly podcast where REALTORS® in BC will find the latest real estate news and feature conversations with experts on issues related to real estate practice. To help REALTORS® stay up to date, BCREA publishes regular blog posts and economic forecasts and data and offers ...

The post Introducing the New BCREA Podcast: Open House by BCREA appeared first on British Columbia Real Estate Association.

Author: Shaheed Devji
Posted: January 29, 2020, 9:24 pm

BCREA’s online courses have officially moved to the Hub, the Canadian Real Estate Association’s online learning platform! All BCREA courses previously available on UBC Sauder’s online learning platform have been integrated into the Hub and, after January 31, 2020, will no longer be available for registration through UBC Sauder.*  The Hub offers streamlined access to ...

The post BCREA Online Courses Have Moved to the Hub appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: January 28, 2020, 5:00 pm

To view the BCREA Housing Forecast Update PDF, click here. Vancouver, BC – January 23, 2020. The British Columbia Real Estate Association (BCREA) released its 2020 First Quarter Housing Forecast Update today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to increase 10.3 per cent to 85,290 units this year, after recording ...

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

Author: Harveen Johal
Posted: January 23, 2020, 1:00 pm

Have you ever called your local real estate board with a question and then been told to call the Real Estate Council of BC? And then you give them a call and they tell you to call BCREA? It’s not always easy to keep track of who does what, especially when it comes to distinguishing ...

The post Who’s Who in BC Real Estate? appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: January 22, 2020, 4:00 pm

One of the recent changes to the Professional Development Program (PDP) is the introduction of self-directed learning. Watch this video from BCREA and boards to find out what self-directed learning means for you! [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/dM6JAEIScHU” frameborder=”0″ allowfullscreen style=”position:absolute;top:0;left:0;width:100%;height:100%;” ][/iframe] You can find answers to the most frequently asked questions about self-directed learning here ...

The post Define Your Professional Development with Self-Directed Learning appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: January 21, 2020, 6:02 pm

January 1 marked the transition to the new Professional Development Program (PDP) framework. Now that changes to the program are in effect, REALTORS® are asking great questions about what these changes mean in practice. To start you off on the right foot, we’ve compiled some of the most common questions (with answers) below! 1. Does ...

The post The New Professional Development Program: Top Five Questions Post-Launch appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: January 16, 2020, 10:38 pm

For the complete news release, including detailed statistics, click here. Vancouver, BC – January 13, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 77,331 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2019, a decline of 1.5 per cent from the 78,516 units sold in 2018. The ...

The post Housing Markets Flat in 2019 After Strong Second Half appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: January 13, 2020, 12:55 pm

On December 16, 2019, BCREA submitted 18 recommendations to Minister of Finance Carole James to help guide the government as they work towards a new regulatory structure for real estate professionals. This follows Minister James’s announcement in November that the Office of the Superintendent of Real Estate (OSRE), which currently oversees the Real Estate Council ...

The post BCREA Submits Recommendations for New Regulator appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: January 9, 2020, 9:16 pm

2020 has already gotten off to an eventful start for REALTORS® – the new Professional Development Program framework came into effect on January 1 and the Real Estate Council of BC announced it has developed a new mandatory anti-money laundering course for all real estate licensees. Here at BCREA, we’re rolling up our sleeves and ...

The post A New Year and New Resources for REALTORS®: What to Expect From BCREA in 2020 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: January 7, 2020, 9:23 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: December 2019 appeared first on British Columbia Real Estate Association.

Author: opacity
Posted: January 7, 2020, 4:30 pm

Thank you to all BC REALTORS® who participated in the BCREA Mobile Holiday Giveaway Contest. A big congratulations to Karrie Grewal for winning the iPhone 11! An exclusive plan for REALTORS® REALTORS® need a mobile plan that works as hard as they do. That’s why we’ve partnered with the Alberta Real Estate Association to offer ...

The post BCREA Mobile Holiday Giveaway Winner! appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: January 2, 2020, 7:00 pm

Vancouver, BC – January 2, 2020 – With a redesigned Professional Development Program now in place, REALTORS® across BC are working to meet new professional development requirements. The British Columbia Real Estate Association (BCREA) and BC’s 11 real estate boards revised the Professional Development Program for REALTORS® in BC effective January 1, 2020. The changes ...

The post Real estate profession revises Professional Development Program for BC’s REALTORS® appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: January 2, 2020, 12:55 pm

A year ago in Legally Speaking No. 509, I described two Supreme Court of British Columbia cases that addressed whether a strata corporation must first pass an 80% vote (sometimes called a “winding-up resolution”) before strata council may list the whole complex for sale with a brokerage or enter a contract to sell the entire ...

The post Strata Termination Update #521 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: December 19, 2019, 9:25 pm

In October at BCREA’s Managing Brokers’ Conference, the Office of the Superintendent of Real Estate (OSRE) reported on work to review the roles and responsibilities of managing brokers in BC. They released a discussion paper and asked for feedback on five short- and medium-term actions as well as three long-term concepts. BCREA worked with member boards to ...

The post Improving the Role of Managing Brokers appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: December 16, 2019, 9:47 pm

The transition to the new Professional Development Program (PDP) framework is just around the corner! As of January 1, you’ll report any PDP hours you’ve acquired from learning opportunities outside of your board – whether accredited or self-directed – to your primary member board. As the reporting process looks slightly different at each board, your ...

The post Reporting Your Professional Development Program Hours appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: December 16, 2019, 6:40 pm

In 2021, the BC Government intends to integrate the Office of the Superintendent of Real Estate (OSRE) and the Real Estate Council of British Columbia (RECBC) into the BC Financial Institutions Commission (BCFSA). According to the November 12 news release, this move will satisfy a recommendation made by Dan Perrin in 2018 to create a ...

The post Getting it Right: Real Estate Regulation and Commercial Licensing appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: December 16, 2019, 5:39 pm

Are you interested in what’s going on with your profession? Do you follow the latest developments in real estate and talk to your fellow REALTORS® about leading our profession forward? If so, the British Columbia Real Estate Association is looking for you! BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing ...

The post Are you a REALTOR®? Join the BCREA board! appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: December 13, 2019, 12:15 am

The British Columbia Real Estate Association (BCREA) is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients. The BCREA ...

The post EXTENDED: BCREA Public Director Position Available appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: December 12, 2019, 11:25 pm

For the complete news release, including detailed statistics, click here. Vancouver, BC – December 12, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 6,616 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, an increase of 27.5 per cent from the same month last year. The average ...

The post Home Sales Firming Across the Province appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: December 12, 2019, 12:55 pm

To view the Mortgage Rate Forecast PDF, click here. Highlights Wild year for interest rates Canadian economy: slow and steady Why is the Bank of Canada holding back? Mortgage Rate Outlook As the year ends, it’s worth reflecting on how significantly the Canadian interest rate environment has changed in just twelve months. One year ago, ...

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

Author: Harveen Johal
Posted: December 11, 2019, 6:10 pm

The British Columbia Real Estate Association (BCREA) has created a new video to help consumers better understand the Privacy Notice and Consent form, and how REALTORS® protect consumer privacy and personal information during and after real estate transactions. You can show this video to consumers when discussing the Privacy Notice and Consent form, or at ...

The post BCREA Launches Privacy Notice and Consent Form Video for Consumers appeared first on British Columbia Real Estate Association.

Author: Marianne Brimmell
Posted: December 9, 2019, 5:27 pm

The issue of money laundering continues to be one of ongoing governmental and public concern. BCREA have taken an active role in the Cullen Commission of Inquiry into Money Laundering In BC, having applied and received formal standing to partake in the process and represent provincial real estate interests. We have also been attending the ...

The post New Anti-Money Laundering Initiatives in Development appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: December 5, 2019, 7:47 pm

In 2021, the BC Government intends to integrate the Office of the Superintendent of Real Estate (OSRE) and the Real Estate Council of British Columbia (RECBC) into the BC Financial Institutions Commission (BCFSA). According to the December 12 news release, this move will satisfy a recommendation made by Dan Perrin in 2018 to create a ...

The post Reforming the Regulator appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: December 5, 2019, 7:45 pm

At BCREA’s second annual Managing Brokers’ Conference in October, Superintendent of Real Estate Micheal Noseworthy introduced a new discussion paper: “Reframing the Role of Managing Brokers in BC.” The discussion paper is part of a managing broker consultation process by the Office of the Superintendent of Real Estate (OSRE) that began in fall 2018 with ...

The post Brokering a new deal for Managing Brokers appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: December 5, 2019, 7:39 pm

To view the full Commercial Leading Indicator PDF, click here. The BCREA Commercial Leading Indicator (CLI) fell slightly to 135.3 in the third quarter of 2019. The index remains unchanged compared to the same time last year. Provincial economic activity continued to slow in the third quarter of 2019, with declines in retail and manufacturing ...

The post Commercial Activity Remains Stable in 2019 Q3 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: December 4, 2019, 10:10 pm

When we think of residential occupation, our minds turn to fee simple ownership, strata property ownership or maybe rental occupation. A lesser known but growing form of housing is cooperative housing under the Cooperative Association Act SBC 1999 c.28 (“Act”). Unlike strata ownership, members of a cooperative do not own a specific unit. Members of ...

The post When Cooperatives Become Uncooperative #520 appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: November 21, 2019, 10:41 pm

Droughts, water restrictions and wildfires have all become part of a typical BC summer, just like Okanagan cherries or a BC Day barbecue. Despite all of BC’s lakes and rivers, the truth is that water scarcity is a serious concern. That’s why the provincial government introduced the Water Sustainability Act in 2016, which requires anyone diverting and ...

The post Keeping Clients Out of Hot Water Over Groundwater Licencing appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: November 18, 2019, 6:05 pm

BCREA is saddened to hear of the passing of former BCREA Director Dick Pemberton. Dick was a BCREA Director from 2011-2017, and most recently a member of the Government Relations Committee. In his wife’s words, “Dick Pemberton passed away on Monday, October 28, 2019 after a courageous battle with cancer.” Dick was REALTOR® with RE/MAX ...

The post In Memorium: Dick Pemberton appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: November 18, 2019, 5:58 pm

Recent changes to three Real Estate Council of BC mandatory disclosure forms are a significant improvement on previous versions, which were launched as part of the June 2018 Rule changes. The revised forms, which came into effect September 30, 2019, include the Disclosure of Representation in Trading Services, Disclosure of Risks to Unrepresented Parties and Disclosure to Sellers of ...

The post Revised Council Disclosure Forms Better Meet Consumer Needs appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: November 18, 2019, 5:43 pm

Conference attendees at BCREA’s 2019 Managing Brokers’ Conference gave the event rave reviews in a post-event survey. 97 per cent of attendees said they’d attend again, with 83 per cent of attendees rating the event “exceptional” or “very good”. Program highlights included the Real Estate Errors and Omissions Insurance Corporation’s presentation “Why Mistakes Happen…And What ...

The post That’s a Wrap! Rave Reviews and Follow-up Resources from the Managing Brokers’ Conference appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: November 18, 2019, 5:37 pm

In late October, BCREA began its involvement in the Cullen Commission of Inquiry into Money Laundering in British Columbia by attending a series of public meetings which were held throughout the province. Trevor Hargreaves, BCREA Vice President of Government Relations and Stakeholder Engagement, attended the meetings in Vancouver, Victoria, and Richmond on behalf of BCREA, ...

The post BCREA Brings REALTOR® Perspective to Inquiry into Money Laundering appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: November 18, 2019, 5:34 pm

BCREA is preparing a response to the Office of the Superintendent of Real Estate (OSRE), in light of its recent discussion paper, Reframing the Role of Managing Brokers in BC. BCREA’s response will provide evidence-based insights and industry-focused recommendations and context to the review process and will be based partly on feedback from and consultation with ...

The post BCREA Prepares Recommendations for Province’s Review of Managing Brokers appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: November 18, 2019, 5:24 pm

Earlier this week the Ministry of Finance announced their intent to shift to a single regulator, wrapping real estate oversight into the BC Financial Services Authority (BCFSA). They are aiming for this new legislation to be tabled by Fall 2020, with implementation in 2021. Under this new structure the Office of the Superintendent of Real ...

The post Ministry of Finance Announces Shift to Single Regulator appeared first on British Columbia Real Estate Association.

Author: Harveen Johal
Posted: November 18, 2019, 5:17 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

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