With just a day to go before a suite of new rules come into force, uncertainty is mounting within the real estate sector.

I’ve previously asked the Minister of Finance (who is responsible for this file) on both May 10 and on May 16 whether or not she would consider stepping in to rectify numerous problems that have arisen from the impending ban on limited dual-agency transactions in this sector. The BC NDP inherited this problem from the BC Liberals’ “sledgehammer” approach to dealing with what was largely a Metro Vancouver issue. There are profound consequences for rural BC if this ban goes ahead.

As I note in the press release that we issued today, the rule changes are significant, and penalties for non-compliance are substantial, yet the implications and means of implementation of the new rules are still not well understood in the industry. Real estate professionals across B.C. are bringing forward stories about inaccurate and conflicting information, and inadequate training regarding these new rules.

It’s important that the Minister of Finance and the Office of the Superintendent of Real Estate to extend the timeline for implementation in order to ensure all realtors, and consumers, have access to the training and accurate information required for them to comply with the new rules.

Media Release

Weaver calls for an extension in timeline for real estate rule changes
For immediate release
14 June 2018

VICTORIA, B.C. – Today, in response to ongoing concerns expressed to him by realtors across B.C., Andrew Weaver is once more calling on the Minister of Finance and the Office of the Superintendent of Real Estate to extend the timeline for the introduction of the real estate rule changes.

“I have numerous concerns about the timeline for the implementation of the new rules for the real estate profession, due to come into effect tomorrow, June 15,” says Andrew Weaver, Leader of the B.C. Green Party.

“The rule changes are significant, and penalties for non-compliance are substantial, yet the implications and means of implementation of the new rules are still not well understood in the industry. Real estate professionals across B.C. are bringing forward stories about inaccurate and conflicting information, and inadequate training regarding these new rules.

“This state of affairs is not helping to protect consumers. I urge the Minister at this 11th hour to work with the Superintendent of Real Estate, to extend the timeline for implementation of these rule changes until the fall.

“Extending the timeline for implementation is essential in order to enable brokerages and boards across the industry the time to adapt to the changes and to undertake adequate education with agents, which, in turn, enables them to adequately serve consumers.”

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Media contact
Sarah Miller, Acting Press Secretary
+1 250-858-9891 | sarah.miller@leg.bc.ca