A recent set of decisions by the BC Financial Services Authority (BCFSA) highlights the importance of due diligence, transparency, and working within your brokerage.
In the first case, a licensee was fined $10,000 for failing to act in their client’s best interests. The agent relied on an outdated title search rather than obtaining a current one, and provided both the title search and Property Disclosure Statement after the contract was finalized—without subject clauses in place. The agent also failed to assess the impact of an easement despite knowing the buyer intended to build, and did not properly document advice or client instructions.
In the second case, a licensee was fined $5,000 for posting a rental listing on a personal WeChat account on behalf of a friend—outside of their brokerage. The listing used the agent’s real estate branding but contained inaccurate information and photos, with little to no due diligence completed.
Both cases point to the same core issue: professional obligations cannot be bypassed. Buyers need complete and timely information to make informed decisions, and all trading services must be conducted through your brokerage to ensure proper oversight.
The takeaway is clear: verify your information, provide it at the right time, document your advice, and always work within the structure designed to protect both you and your clients.
Professional Standards