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Superintendent of Real Estate to Chair Independent Advisory Group

For Immediate Release

Superintendent of Real Estate to Chair Independent Advisory Group

 

Vancouver, British Columbia, February 9, 2016 – The Real Estate Council of British Columbia announced today that Superintendent of Real Estate Carolyn Rogers has agreed to chair the independent advisory group on real estate business practices in BC.

Ms. Rogers’ first task will be to work with the Council to identify further members of the multi-stakeholder advisory group, and to determine the scope of the investigation the group will conduct into business practices and regulation of licensed real estate professionals.  Included in the group’s mandate will be a look into whether assignment clauses are being used appropriately, and development of recommendations to increase the Council’s enforcement and oversight of non-disclosure by licensees investing in properties.

Ms. Rogers noted, “The over-riding role of the Superintendent, like the Real Estate Council, is to ensure that the public interest is protected and that confidence in the real estate sector is maintained. I look forward to working with the members of the Advisory Group on this important assignment and responding in a manner that assures the public that they can have full confidence in the integrity of the sector and in the regulatory standards and enforcement that support it.”

It is expected that members of the advisory group will include representatives from the legal profession, academia, and the business community. An interim deadline of April 8, 2016 has been set for initial recommendations from the advisory group.

Real Estate Council Chair Marylou Leslie noted, “The Real Estate Council is aware of the high level of public concern regarding the current real estate market conditions, and the business practices of some individuals in the real estate industry in this province. I have the highest degree of confidence in Ms. Rogers to lead this advisory group, which will make recommendations that will enhance protection for members of the public in their dealings with licensed real estate professionals.”

About the Council

The Real Estate Council of British Columbia is a regulatory agency established by the provincial government. 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.

About the Superintendent of Real Estate
The Superintendent of Real Estate also serves as the Chief Executive Office of the Financial Institutions Commission, a regulatory agency of the Provincial Government. The Superintendent serves in a capacity independent from the Real Estate Council. Her office protects consumers from unlicensed real estate services activity and also has independent authority to appeal disciplinary decisions of the Real Estate Council or intervene and pursue regulatory action against licensees in certain circumstances.

 

For more information,please contact:

Marilee Peters, Communications Officer
Real Estate Council of BC
[email protected] 604-683-9664

Greg Dickson, Communications Officer
Financial Institutions Commission
[email protected] 604-417-9190