September 15 2020 Vancouver – Today, the Office of the Superintendent of Real Estate (OSRE) and the Real Estate Council of BC (RECBC) are opening a consultation on proposed changes to administrative penalties. The changes will make administrative penalties a more effective tool to increase compliance by real estate professionals and strengthen consumer protection for British Columbians when buying or selling property.Members of the public, stakeholders, and real estate professionals are invited to submit their feedback during the 45-day consultation period. Making these changes will reduce the need for lengthy and expensive hearings for real estate professionals, and will make administrative penalties a more significant deterrent to misconduct. They will not change existing requirements and obligations of real estate professionals.
OSRE has proposed amendments to the Real Estate Rules that would:
• expand the list of designated contraventions eligible for administrative penalties,
• update the administrative penalty amounts, and
• create four categories of administrative penalties with penalty amounts that increase according to the level of risk of harm to the public.
RECBC has drafted Administrative Penalty Guidelines that set out how RECBC would apply administrative penalties under OSRE’s proposed amendments. The Guidelines set out:
• RECBC’s process for issuing an administrative penalty,
• the criteria for a designated contravention to be eligible for an administrative penalty, and
• the reconsideration process.
RECBC is considering changes to its Publication Policy to include the publication of all administrative penalties.
- Review all the proposed changes — will open in a new tab
- Submit your comments in our online survey — will open in a new tab
The consultation closes at 6pm on November 13, 2020.
- Read the Backgrounder — will open in a new tab on our consultation website
- Find out about the four categories of contraventions for Administrative Penalties — will open in a new tab
- Read our Questions and Answers — will open in a new tab about Administrative Penalties
Warren Mirko, Media Relations Advisor