Updated Medallion Club and MLS® Awards Rules and Medallion Declaration forms took effect on July 1, 2023

As previously advised in eMemo #4228 the new Rules for real estate teams announced by the real estate regulator, the BC Financial Services Authority (BCFSA) took effect on April 1, 2023. Furthermore, in eMemo #4247, we advised that the FVREB Medallion Club and MLS® Awards Rules were revised, effective July 1, 2023, to be in alignment with BCFSA team requirements.

Work has been underway to revise the rules of the Fraser Valley Real Estate Board’s Medallion program, to ensure our Medallion Club program’s rules for how teams are defined align with BCFSA’s new rules, to ensure that members meet their professional requirements.

Since BCFSA’s rules came into effect on April 1, 2023, we anticipate most members will have already made any changes required to their team status. While some programming work remains,  

key highlights are noted below, with the full changes available on FVREB Connect, Medallion Program page. Revised Medallion Club Declaration forms, which took effect on July 1, 2023, are also available on FVREB Connect.

Please follow the links to view more detailed information:

New Definition for the Team Category

  • Medallion Teams must meet the BCFSA definition of a real estate team and must be comprised of a minimum of two FVREB licensees within the same corporate brokerage, which could include different branch offices.
  • Teams comprising of a single licensee will no longer be allowed to register, or remain in the current Medallion Team category, and must register their status for Medallion to be an Individual.
  • Any team registered with BCFSA must register as a FVREB Medallion Club Team. Any FVREB Medallion Club Teams must also be registered with BCFSA as a team to be eligible to qualify for Medallion in the Teams category. Teams must be registered with both organizations to comply with BCFSA’s new rules.
  • Medallion Teams must declare a team name, which must be the same name registered with BCFSA.
  • If you create or join a team, your points from that year are applied to that team.
  • If a team member leaves, their points go with them and will be carried over to the Individual category or their new team.
  • If a Medallion Team is disbanded, each team member takes their points with them, and no points remain with the Team.
  • Teams can add or remove members, and members can create or disband teams anytime during the year, provided the team is registered with BCFSA and operating within the regulator’s team requirements.

Updated Medallion Individual and Team Declaration Forms Available on FVREB Connect

  • Both the Individual and Team Medallion Club Declaration forms have been updated to reflect the changes to the rules.
  • For now the forms are available ONLY on FVREB Connect, and will be made available on WEBForms® as soon as possible.
  • Members who need to update their Medallion status as a result of the BCFSA rule changes, and subsequent Medallion Club Rules update, must submit their new Medallion Declaration form to the Board’s Membership Department by no later than July 31, 2023 to bring them into compliance with the updated Medallion Rules.
  • Members who do NOT need to make any changes to their Medallion status, do NOT have to submit a new form.

NOTE: While programming to facilitate these Medallion changes, as a result of the BCFSA real estate team rules, will be made in stages, members are required to submit any Medallion status changes resulting from the updated rules, to the Board by July 31, 2023.

Forms submitted to the Board during this time will be acknowledged as having been received, but the actual processing of them by board staff will take place in early August, after the first stage of programming is complete.

New Qualification Criteria for Teams

  • Until now, the qualification for a Team was the same number of points as an Individual qualifier.
  • Based on feedback from members over the years, changes have now been made to the criteria required for a Team to qualify.
  • Teams of 2 members must have earned 50% more than the Individual qualification (i.e. if Individual qualification were 20 points, qualification for Teams of 2 would be 30 points)
  • Teams of 3 or more team members must have earned 100% more than the Individual qualification (i.e. if Individual qualification were 20 points, qualification for Teams of 3 or more members would be 40 points)

NOTE: Additional programming required to facilitate the new Medallion Team qualification calculations, is anticipated to be completed by October. Until that time Team Leaders and Team Members viewing their Medallion statistics will continue to see the Team rankings and placement on the qualification ‘slide bar’ based on the previous qualification criteria. However, during this time there is no effect on the number of points or contributing listings information being displayed. Nor any effect at all in the Individual category.

Disqualification from the Medallion Program:

  • Changes to a member’s Individual or Team status must be reported to the Board promptly, using the Medallion Club Individual or Team Declaration form, and to BCFSA using the required BCFSA form.
  • Any Individual member found to be collecting points from another member without benefit of Team status, will be disqualified from the Medallion Club for the balance of the year, and will NOT be eligible for Medallion Club status that year.
  • Any Individual member found in breach of their professional responsibilities by either FVREB or BCFSA and suspended within the qualifying year, will NOT be eligible for Medallion status that year.
  • If any member of a registered Team is found in breach of their professional responsibilities by either FVREB or BCFSA and suspended within the qualifying year, the Team would NOT be eligible for Medallion Club status that year. Each Team member would also become ineligible for Individual Medallion Club qualification.

Medallion Gala:

  • With the exponential growth in team sizes, an adjustment has been made to the invitation process for the gala.
  • Individual and Team Leaders who qualify for Medallion in the current year may continue be invited to attend the gala, at no cost.
  • Team members who were registered as a member of a qualifying team at the qualification deadline, may be invited to attend the gala, at their own cost.

Useful Links:


If you have any questions about real estate teams, please first speak to your Managing Broker about the BCFSA guidelines and how they may affect you. For any further questions on the Medallion program, please contact Cheryl Camara, Director of MLS®.