FVREB Member Survey on Self-Regulation

by Baldev S. Gill, Chief Executive Officer

FVREB needs to hear from you – your voice matters on the important issue of self-regulation.

To help FVREB drive for meaningful change to ensure a more robust and better functioning real estate sector, we need to hear from you. Accordingly, we strongly encourage you to take a few moments out of your day to share your voice and your point of view.

We have put together a short self-guided survey that should take you no more than eight minutes to complete. We strongly encourage you to participate by clicking here. The survey will remain open until Thursday, September 24, 2020. We thank you in advance for your input as we work to advance your interests with government.

In Fall 2018, BC’s Ministry of Finance published its Structure Review – the independent review of the regulatory framework currently governing real estate practices in BC.

The analysis, conducted by independent consultant Dan Perrin on BC’s real estate regulatory structure, found the current system put in place by the former government in 2016 to be dysfunctional, inefficient, and vulnerable to market manipulation and abuse, such as money laundering.

Among his six key recommendations, Mr. Perrin suggested the Office of the Superintendent of Real Estate (OSRE) and the Real Estate Council of BC (Council) be merged with BC’s Financial Services Authority. This would give the Ministry of Finance control of real estate policy development and a policy review of real estate regulatory requirements, including a review of outstanding recommendations made by the Council’s Independent Advisory Group in June 2016.

The report reflects many of the concerns BCREA and BC’s 11 regional real estate boards such as the Fraser Valley Real Estate Board (FVREB) have raised related to the co-regulatory structure as a whole, and to specific issues resulting from recent Rule changes.

Along with BCREA and the other Boards, FVREB wants to ensure that we work with you, our members, to continue advocating for changes that make BC’s real estate regulatory structure function smoothly and efficiently.

Please participate in this short survey and you will be entered to win a $150 VISA gift card! The survey will remain open until Thursday, September 24, 2020.