The BC Financial Services Authority (BCFSA) has updated and reorganized its standard contract clauses used with the BC Real Estate Association’s Contract of Purchase and Sale – Residential. These clauses are a routine part of a REALTOR®’s day-to-day business and are used regularly in transactions across the province.
To make them easier to navigate and apply, BCFSA has organized the clauses into clear categories within its online Knowledge Base, creating a practical menu that agents can rely on as a go-to resource. The updated clauses, along with important usage considerations, are also available through CREA WEBForms®.
The updates reflect recent changes to legislation, BCREA Standard Forms, and current real estate practices. When using these clauses, REALTORS® are reminded to apply professional judgment, be clear about who they represent, encourage clients to seek legal advice where appropriate, and consult their Managing Broker or a lawyer directly if there is any uncertainty about clause language or use. Confidentiality requirements continue to apply.
REALTORS® are encouraged to review the updated clause menu and bookmark it as a reliable source of standard contract clauses. For more information, visit the BCFSA website.
FVREB Professional Standards