Changing Rules, Changing Practices
Support, Information and Education from the Council
This September, the Superintendent of Real Estate published a consultation paper on proposed rules to end limited dual agency, except in rare and exceptional circumstances. Other proposed rules would introduce new consumer disclosure requirements for real estate licensees.
It is expected that the Superintendent will announce the results of the consultation, and publish any new rules, shortly.
Before, during and after the introduction of new rules for dual agency and disclosure, the Council will be providing licensees with information and support to help them understand:
- what the changes mean,
- how they will affect the practice of real estate in BC, and
- how to adapt their business practices to comply with the new rules.
We’ll also be providing information for consumers, to help homebuyers and sellers understand how they may be affected by the new rules, and to make sure they are well-informed about the services they’ll receive from a real estate licensee.
Here’s what you can expect to see from the Council over the next few months to help you navigate the changes ahead:
- Comprehensive online content, including extensive FAQs to help answer your questions
- Answers to enquiries from licensees and managing brokers
- Updates to the Professional Standards Manual with guidelines about new conduct requirements
- Short videos
- Downloadable infographics and fact sheets to share with consumers, in multiple languages
- Eblasts and articles in the Report from Council newsletter
- Support from the Professional Standards Advisors, online and over the phone.
Who Makes the Rules: An Update
Rule-making authority under the Real Estate Services Act was transferred from the Real Estate Council to the Superintendent of Real Estate as part of legislative changes passed by the BC provincial government in 2016. This means that:
- the Superintendent of Real Estate creates the rules that govern the conduct of real estate licensees
- the Real Estate Council is responsible for education, licensing, and enforcement and discipline of licensees.