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Stakeholder Engagement

 

The Real Estate Council of BC is committed to fair, effective and transparent regulation.  Engaging in open dialogue 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 the Real Estate Council of BC, refer to the list below. 

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

 


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Active Engagement Opportunities

 

Show/Hide AnswerDisclosure Forms Consultation 

The Council is currently developing four new disclosure forms contemplated in the Superintendent of Real Estate’s new Rules which will go into effect on March 15, 2018, including: 

  • a new mandatory form, that will replace the Working With a Realtor brochure, informing consumers of the duties and responsibilities a licensee owes to clients and unrepresented parties; 
  • a new mandatory form to inform consumers of the risks of being an unrepresented party in a real estate transaction; 
  • a new 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 new mandatory form to be used when a managing broker is approving a rare exemption to the rule prohibiting dual agency.

Currently, with a few exceptions, the disclosure forms commonly used in the provision of trading services are not mandated by the Council. These new disclosure forms signal a major shift in policy and practice, since they are developed and mandated by the Council, not by Real Estate Boards or the British Columbia Real Estate Association.

 

To ensure the forms satisfy the requirements of the Rules, but are also easy for everyone to understand, simple to use, and convenient, we are conducting ongoing consultation with stakeholders, industry members, and consumers. We’re committed to making sure real estate licensees have the forms they need to continue providing real estate services well in advance of March 15, 2018.

 

Development and Consultation Timeline

 

December:

  • Consultation on form development with the Office of the Superintendent of Real Estate, and stakeholder groups including the British Columbia Real Estate Association, UBC Sauder School of Business, Real Estate Division, and industry members from the Council’s Trading Services Advisory Group.
  • Review by the members of the Council’s Policy and Legislative Committee.

January:

  • Council members will review the forms and consider a motion to approve the form content.
  • Further review, amendments, and consultation as required.

February: 

  • Consultation on usability of disclosure forms with industry and consumer stakeholder groups.
  • Focus group testing.
  • Introduction of educational/informational resources to assist licensees and consumers and support the transition to using the new forms.

March:

  • The final versions of the forms will be made available on the Council’s website.
  • New Rules take effect and disclosure forms begin being used.

Do you have a question that hasn’t been covered in this information on our stakeholder engagement process? Send it to us using our online form.

Show/Hide AnswerReview of Licensing Education

The Council has initiated a third-party review of its licensing education, to identify areas that can be strengthened and potential changes that will increase the effectiveness of licensing courses.

The review, which is scheduled to be completed in March 2018,  includes opportunities for feedback and engagement by licensees and interested members of the public. If you would like to be involved in consultations as part of the educational review, either through surveys, interviews, or focus groups, please contact education@recbc.ca for more information.

 

Show/Hide AnswerAnonymous Tipline 

Speaking out about misconduct can be difficult. The Council encourages members of the public and licensees to bring suspicious activity to the Council’s attention, and to make it easier to do that, we’re implementing an anonymous tipline.

As part of the initiative, we’re surveying licensees to uncover potential barriers or challenges to reporting misconduct. We will report on results of the survey in an upcoming issue of the Report from Council newsletter, and on this website. 

We want to hear from you: have you considered making a complaint to the Council in the past? Would you report misconduct using an anonymous tipline?

Your feedback can help to shape this important consumer protection resource. 

Take our Reporting Misconduct Survey

 

Recent Engagement Opportunities

Show/Hide AnswerStakeholder Engagement Event

On November 15, 2017, the Council 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 will help shape the Council’s 2018-2021 strategic plan, which will be published on the Council’s website in early 2018. 

Participants at the Council’s 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.

The Council extends its 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 will help to shape the goals and activities of the Real Estate Council 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.