The Real Estate Council of British Columbia protects the public interest by assuring the competency of real estate licensees in B.C. and ensuring their compliance with the Real Estate Services Act. We encourage public confidence by impartially setting and enforcing standards of conduct, education, competency and licensing for real estate licensees in the province. The Council is accountable to and advises government on industry issues.
Vision: A regulatory organization that is a leader in industry integrity, innovation and viability.
The Council operates with the following principles and values:
Experience and Dedication
Council members are dedicated to protecting the public interest in real estate services and to improving the industry.
Council supports a regular consultative approach with government, the public and industry groups.
Impartial, Effective Processes
Council members and staff are impartial in setting and enforcing standards of conduct through effective education, licensing, and compliance processes.
Cost-effective & Responsive Services
Council management and staff work to provide cost-effective, responsive services to consumers and the real estate industry by using current professional business practices and technology.
Open Communications & Trust
Council members and staff work cooperatively to create a working environment where frank and open communications and trust prevail.
The Real Estate Council of British Columbia is a regulatory agency established by the provincial government in 1958. Its mandate is to protect the public interest by enforcing the licensing and licensee conduct requirements of the Real Estate Services Act. The Council is responsible for licensing individuals and brokerages engaged in real estate sales, rental and strata property management. The Council also enforces entry qualifications, investigates complaints against licensees and imposes disciplinary sanctions under the Act.
The Council is responsible for ensuring that the interests of consumers who use the services of real estate licensees are adequately protected against wrongful actions by the licensees. A wrongful action may be deliberate or may be the consequence of inadequate exercise of reasonable judgment by a licensee in carrying out their duties and responsibilities.
The Council is responsible for determining what is appropriate education in real estate matters for individuals seeking to be licensed as real estate practitioners and arranging for licensing courses and examinations as part of the qualification requirement for licensing. Under the authority of the Council, licensing courses are delivered by the University of British Columbia’s Sauder School of Business (Real Estate Division).
The Council is responsible for determining the appropriate education for individuals seeking to be licensed as real estate practitioners. The administration of licensing courses is delegated to the University of British Columbia’s Sauder School of Business (Real Estate Division).
In addition to establishing licensing guidelines and reviewing licensing courses, the Council considers education and experience exemption requests from licensees and prospective licensees.
Relicensing Education Program
The Council’s Relicensing Education Program (REP) requires licensees to complete education requirements during the licensees’ two-year licence period as a condition of continued licensing. Find further information about REP requirements.
The Council regularly provides licensees with industry updates and related information in order that licensees may effectively carry out their duties. The Council accomplishes this through its Professional Standards Manual, Brokerage Standards Manual, electronic News Bulletins and Report from Council newsletters. The Council keeps members of the public informed through its consumer brochures, its public web site, and its day-to-day handling of telephone, e-mail, and written inquiries from the public.
The Council is responsible for licensing individuals and brokerages under the Real Estate Services Act. The Council administers a number of processes in connection with the issuance of licences including:
- determining suitability for all licence applicants
- conducting criminal record checks
- conducting credit history checks
- ensuring that each brokerage has a managing broker in place
- ensuring that brokerages maintain a proper place of business.
The Council issues licences in the following categories:
- trading services
- rental property management services
- strata management services.
Office and Records Inspection Program
The Council has been performing office and records inspections since 1967 to ensure that all licensed brokerages in the province have proper controls in place to protect trust monies at all times. The objective of an office and records inspection is to provide constructive feedback to the brokerage by identifying any deficiencies in the office and records as required by the Real Estate Services Act.
Office and records inspections are conducted on the following priority basis:
- as a result of complaints from consumers, licensees or the Superintendent of Real Estate;
- as a result of exceptions on Accountant’s Reports;
- as a result of previous spot audit reports showing deficiencies;
- new brokerages* involved in strata management services or rental property management services followed by those engaged in trading services; and
- new branch offices that handle trust funds*.
*It is the intention of the Council to examine all new brokerages in the province within 12 months of licensing.
Disciplinary and Hearing Processes
The Council is responsible for investigating matters which involve possible contraventions of the Real Estate Services Act, Regulations or Rules.
The Council’s disciplinary procedures may be initiated as a result of:
- a complaint submitted by a consumer, licensee or the Superintendent of Real Estate.
- an investigation conducted under the Council’s own initiative, as, for example, should the Council become aware of a court decision or news report indicating wrongdoing by a licensee.
The Council has the authority to:
- reprimand a licensee;
- suspend the licensee’s licence for a period of time and/or until specified conditions are met;
- cancel the licensee’s licence;
- impose restrictions or conditions on the licensee’s licence, or vary any applicable restrictions or conditions;
- require the licensee to
- cease or carry out any specified activity related to the licensee’s real estate business
- enroll in and complete a course of study or training
- pay for enforcement expenses incurred by the Council
- pay a disciplinary penalty up to $500,000 in the case of a brokerage or former brokerage, or up to $250,000 in any other case.
The Council does not have the jurisdiction to adjudicate monetary or contract matters that come under the control of the civil courts. Anyone who seeks to deal with monetary or contract matters must pursue a civil remedy through legal proceedings.
Orders in Urgent Circumstances
If the Council determines that a licensee may have acted in a way that could result in a disciplinary order, that the length of time it would take to make such an order would be detrimental to the public interest, and that it is in the public interest to make an order, a discipline committee may:
- suspend a licensee’s licence
- impose restrictions or conditions on the licensee’s licence, or
- require the licensee to cease or to carry out specified activities related to the licensee’s real estate business.
The Council has the authority to freeze property if it considers such action to be in the public interest, e.g. where there is evidence that trust funds have been misappropriated.
The Council’s experienced professional staff carry out functions including administration, licensing and education, audits and inspections, and investigations and disciplinary matters.
The Council has four key areas of focus, and organizational goals within each focus area.
Be accessible to real estate consumers, the industry and government in providing protection to the public in real estate services.
Council Structure and Governance
Enhance consumer confidence and ensure industry integrity by effective and relevant representation on Council and its committees.
Make informed decisions at Council level.
Industry Education and Regulation
Raise the level of relevant competency within the industry at a reasonable cost.
Ensure compliance with the Real Estate Services Act.
Be cost-effective and efficient in internal operations.
Deliver responsive services to consumers and licensees.