Changes to impact agents

by Justin da Rosa15 Apr 2016
Real estate board shares recommendations with Independent Advisory Group that could impact agents.

“BCREA fully supports the IAG’s work, and any measures that improve consumer trust and Realtor professionalism,” BCREA President Deanna Horn, a Langley Realtor, said. “I’m pleased to say that most of the 20,000 REALTORS® in the province take pride in representing their clients ethically and honestly. When that doesn’t occur, we encourage consumers and REALTORS® to make complaints.”

The IAG has been tasked with reviewing British Columbia’s real estate industry. It has suggested higher fines  and the abolition of deals in which an agent represents both the buying and selling parties.

"Public confidence in the integrity of the real estate services sector and its regulation has been shaken," IAG head Carloyn Rogers said in a letter to B.C.’s Real Estate Council. "The public has rightfully questioned whether the self-regulatory powers granted to the real estate services industry continue to be appropriate and whether the industry is adequately fulfilling its obligations under this regime."

BCREA’s suggestions include encouraging the Real Estate Council of BC to expedite complaints and the discipline process against agents; increase council fines; launch mandated education courses for agents; make buying contracts mandatory for lawyers and notaires subject to the same proposed restrictions for licensees when it comes to assignments.

“We look forward to the final report of the IAG,” Horn said. “This process is positive, and we expect benefits for real estate licensees and consumers.”

COMMENTS

  • by Agent in Alberta 4/15/2016 11:56:31 AM

    Mandatory education is a good idea. But, does it work if it is on-line and "too busy" agents get assistants to complete the online course? Of even if they show up to class, once they leave the class room, will they change their methodologies? Education is great for those who are honest, not for those bending ethics.

  • by Matt 4/17/2016 2:10:06 PM

    No matter what, if someone wants to "get around" the system, they will, regardless of the measures taken. Placing a focus on individuals like this could be made a priority. In all provinces, not just BC (I'm in Ontario, and the same things happen).

    What caught my attention was, abolishing all deals that a sales rep is on both seller and buyer ends? I know that OREA discourages multiple representation, but it's not a restricted practice. Is BC looking at making it restricted to do so?

  • by Maria 4/28/2016 9:31:31 PM

    You are right Matt. I am in Ontario. I know that the licensed assistant of a team leader ( I personally know) was taking courses on line on his behalf. I was appalled, but I was told that it was part of her job. Most top producers are only concentrating on making sales and leave the work that does not make them money to the assistants. Education is very important, and keeping ourselves up-to-date makes as more professional and trustworthy.

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