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Stakeholder Engagement

 

The Real Estate Council of BC is committed to fair, effective and transparent regulation.  Engaging with our stakeholders is critical to achieving our goals.

We use a variety of methods to gather feedback and listen to the views of our stakeholders about proposed changes that may affect them. For more information about our stakeholder engagement activities and to learn about how you can share your perceptions and views with RECBC, refer to the list below. 

Questions about our stakeholder engagement opportunities?  Email info@recbc.ca.

 


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Active and Ongoing Engagement Opportunities

 

Show/Hide AnswerAdvisory Groups

Advisory Groups assist in maintaining communication, cooperation, and an exchange of information between RECBC, real estate industry professionals, members of the public and other stakeholder groups.

RECBC may ask an Advisory Group to explore an issue relevant to the specific industry sector and report on its findings. An advisory group may also identify and advise RECBC on trends and issues affecting the industry sector and real estate consumers. Each Advisory Group includes representation by one or more Council members. 

Find further information about Advisory Groups, including the Strata Management Advisory Group and the Trading Services Advisory Group.

 

Show/Hide AnswerReview of Regulatory Education – Update on Stakeholder Engagement

In October 2017, RECBC engaged the consulting firm Reichert & Associates to conduct a review of regulatory education in response to the Independent Advisory Group recommendation that RECBC “undertake a comprehensive review of licensing education and testing requirements to raise entry standards.”

Over the next six months, Reichert & Associates conducted research, interviewed dozens of stakeholders, including education providers and industry members, and engaged all BC licensees through an online survey asking for their feedback about licensing education.

Licensee Feedback on Education

More than 20% of real estate licensees responded to the invitation to participate in the education survey: 5,449 surveys were completed, and the results formed a significant part of the final report, which was submitted to Council for review. Among the feedback from stakeholders and survey respondents were these findings:

  • a majority of survey respondents were satisfied or very satisfied with the licensing courses provided by the UBC Sauder School of Business, Real Estate Division
  • nearly half of surveyed licensees indicated that they would benefit from more education to meet their responsibilities as members of a regulated industry
  • a third of survey respondents wanted closer monitoring by managing brokers
  • stakeholders indicated that more training in practical skills would benefit new entrants to the industry, particularly for strata and rental property management licensees
  • stakeholders identified the overlapping roles of RECBC and industry associations as a challenge to the delivery of regulatory education and called on RECBC to take on more responsibility for regulatory education.

RECBC will be addressing these and other results from the education review surveys and interviews. We’re committed to listening to the feedback we’ve received and acting on it to help ensure licensees receive the education and resources that prepare them to deliver professional service. It’s a key part of our mandate to protect the public.

  • We will continue to work with our education partners: the UBC Sauder School of Business, Real Estate Division, the British Columbia Real Estate Association  and the Professional Association of Managing Agents (PAMA) to strengthen regulatory education
  • We will review contractual arrangements with our education delivery partner the British Columbia Real Estate Association to clarify RECBC’s responsibility for regulatory education with respect to content and instruction of the Residential and Commercial Trading Services Applied Practice courses and the Legal Update course.
  • We will continue to enhance the educational resources available to licensees and consumers on our website.
  • We will explore with our stakeholders, including managing brokers, the potential for strengthening mentorship opportunities for new licensees.
  • We will continue to engage with industry members on changes that will positively impact their knowledge and skills, enhancing professionalism and furthering the goal of public protection.

 

Education Review Summary 

A complete summary of the report’s finding will be published on RECBC’s website in the summer of 2018, along with an education white paper identifying the actions to enhance regulatory education that have been undertaken so far, and anticipated next steps.

 

 

 

Recent Engagement Opportunities

 

Show/Hide AnswerAnonymous Tipline 

Speaking out about misconduct can be difficult. We encourage members of the public and licensees to bring suspicious activity to RECBC’s attention, and to make it easier to do that, we have implemented an Anonymous Tipline.

As part of this initiative, we surveyed licensees and members of the public to uncover potential barriers or challenges to reporting misconduct. The feedback we received helped to shape this important consumer protection resource.

Learn more about the Anonymous Tipline.

 

Show/Hide AnswerStakeholder Engagement Event

On November 15, 2017, RECBC held its first stakeholder engagement event, A Conversation About The Future of Real Estate Regulation in BC.  Leaders and representatives from a variety of sectors joined Council members and staff of the RECBC in a morning of discussion on what will be needed over the next several years to ensure that BC’s real estate consumers are protected, that real estate professionals have the skills and knowledge they need, and that the public can have confidence in the regulatory system. 

 

This event was designed to elicit ideas and opinions from a broad and diverse range of stakeholders, including representatives from the public, industry members, educators and regulators, on topics such as 

  • the critical issues facing today’s real estate consumers and licensed real estate professionals
  • trends and patterns that may affect real estate consumers and professionals in the future
  • regulatory approaches that will enhance consumer protection and increase consumer confidence

 

Feedback from our stakeholders helped shape RECBC’s 2018-2021 Strategic Plan, and our updated vision and values. 

 

Participants at the stakeholder engagement event indicated that

  • 90% were satisfied or very satisfied with the event, 
  • 91% felt that the discussions were relevant, important, and timely, and
  • 97% would attend another RECBC event.

 

RECBC extends our thanks to all those who participated and shared their unique perspectives on the regulation of  real estate in BC.  The experience, ideas and questions that were shared have helped to shape the goals and activities of RECBC now and in the future.

 

To learn more about A Conversation About The Future of Real Estate Regulation in BC, check out this brief highlights video.

 

Show/Hide AnswerDisclosure Forms Consultation 

RECBC has developed four disclosure forms required under the Superintendent of Real Estate’s agency and disclosure Rules effective from June 15, 2018: 

  • a mandatory form that replaces the Working With a Realtor brochure, informing consumers of the duties and responsibilities a licensee owes to clients and unrepresented parties; 
  • a mandatory form to inform consumers of the risks of being an unrepresented party in a real estate transaction; 
  • a mandatory form that must be presented to sellers each time an offer is received on the seller’s property about the amount their licensee’s brokerage would earn; and, 
  • a mandatory form to be used when a managing broker is approving a rare exemption to the rule prohibiting dual agency.

 

To help ensure the forms satisfy the requirements of the Rules, and also easy to understand, simple to use, and convenient, we consulted with stakeholders including industry members and consumers as part of the development process.