FVREB and BCREA ask questions of OSRE

BCREA is making efforts to consult with government representatives and the Office of the Superintendent of Real Estate to clarify the OSRE’s recent draft changes to the Rules governing the Real Estate Services Act that ban limited dual agency (with one exemption) and uphold the practice of double-ended deals in no agency situations.

FVREB is also actively involved in gaining clarity on the draft changes, and to that end is inviting members to forward the Board any questions you may have about how the new Rules would be applied. Send your questions to: professionalstandards@fvreb.bc.ca.

Some questions we’ve heard include:

  • How will these Rules impact teams?
  • What should a licensee do when they have shown homes to a particular buyer and have established an agency relationship, and now the buyer wants to see the licensee’s listing?
  • What happens in a multiple offer situation where a buyer’s agent is acting for more than one buyer?
  • Will there be any further exemptions considered for commercial transactions in regards to dual agency?

We are looking to collect feedback from members by Monday, September 25. The deadline for FVREB to provide input is October 6, 2017.