YEAR IN REVIEW
Message from the Chair
The Honourable Mike De Jong
Minister of Finance
Province of British Columbia
PO Box 9048 Stn Prov Govt.
Victoria BC V8W 9E2
Dear Minister De Jong:
On behalf of the members of the Real Estate Council of British Columbia (the Council), I am pleased to present the Council’s Annual Report for the year ended June 30, 2014.
The Council is honoured to be the delegated provincial authority responsible for protecting the public interest through the administration and enforcement of the Real Estate Services Act. This report details the Council’s accomplishments over the past year as we have continued to meet the challenge of fulfilling that mandate.
In September 2013, the redesigned Broker’s Business Planning and Financial Management course offered through the Sauder School’s Real Estate Division at UBC received a prestigious ARELLO Education Award. ARELLO, the Association of Real Estate License Law Officials, is an international association of government agencies and real estate licensing bodies.
As noted by David Moore, Director of the Real Estate Division’s Licensing Education programs, the award demonstrates “the benefits of the unique collaborative relationship between the Sauder School of Business and the Real Estate Council.”
In the year ahead we look forward to the launch of a re-designed Applied Practice Course for trading services licensees, which will be introduced beginning in January 2015. The new course, developed in collaboration with the British Columbia Real Estate Association, will ensure that licensees embark on their careers with the practical skills, the regulatory knowledge, and the confidence to begin delivering superior professional services to consumers.
Regulation to Ensure Public Confidence
While the numbers of real estate licensees in BC are currently at record levels — 21,146 at the end of the fiscal year — the number of complaints received in 2013-14 decreased to 413 from 538 the previous year. As part of our ongoing commitment to monitoring the profession, enforcing the Real Estate Services Act, and fostering an environment of continuous improvement amongst licensees, the Council considers each complaint very carefully, imposing disciplinary penalties when necessary and ensuring that licensees are informed about the regulatory requirements and the best practices that will ensure they remain compliant.
Effective regulation builds confidence: both among licensees and among the public. We are encouraged by the progress over the past year towards achieving our goals, and look forward to continuing these efforts in the year ahead.