Posted on 18-Jun-2018

Andrew Do, Realtor

AMENDED: New Rules to Profoundly Change How REALTORS® Work With Consumers

This news release was amended to correct inaccuracies regarding potential conflicts of interest, disclosures regarding remuneration and to add comment on the impact of the Rule changes. The corrections are italicized for clarity.

Vancouver, BC – June 15, 2018. On June 15, 2018, changes to Rules under the Real Estate Services Act that dictate how REALTORS® work with consumers will come into effect. The Rules, mandated by the Office of the Superintendent of Real Estate (OSRE) and finalized on April 27, 2018, have been amended to ensure that REALTORS® make adequate disclosures, so that consumers can make informed decisions.

“BCREA, together with the Real Estate Council of British Columbia (RECBC), has been hard at work to update the Applied Practice Courses for new licensees. BCREA has also been updating its continuing education courses and nearly two dozen standard legal forms that have been impacted by the changes,” said British Columbia Real Estate Association (BCREA) CEO Darlene Hyde. “The new rules governing real estate practices mark a significant shift in how REALTORS® in BC work with their clients. It’s important that consumers know what to expect when the changes come into effect.”

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