On Wednesday, April 18, the provincial government announced plans to review BC’s real estate regulators to make sure British Columbians are effectively protected. This is a recommendation that BCREA made to Finance Minister Carole James last week.
“Our duty as a government is to make sure the regulatory system is protecting people and functioning effectively. We’re launching a review of the province’s real estate regulators, to make sure they’re acting in the best interests of British Columbians,” says Finance Minister Carole James.
The review, lead by Dan Perrin of Perrin, Thorau and Associates Ltd., will examine the roles and responsibilities of the Real Estate Council of BC and the Office of the Superintendent of Real Estate. Topics under review will include the appropriate structure and composition of the regulators, how they should communicate, mechanisms for resolving disputes, and how to divide responsibility for matters such as licensee qualifications and rule making.
Perrin is a highly experienced former public servant and has completed several other reviews for government.
Recommendations will be provided to Minister James for her consideration by June 15, 2018.