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Council Takes Steps to Enhance Consumer Protection
A Message from Council Chair Marylou Leslie
As licensees in BC, I’m sure that you are all aware of the recent media reports about the actions of some licensees in the Lower Mainland. These actions by a few licensees have shaken public confidence in the real estate industry.
Earlier this week, the Council, as the regulator of licensed real estate providers and brokerages, announced an independent advisory group that will make recommendations to strengthen consumer protection for real estate consumers in BC. The Superintendent of Real Estate, Carolyn Rogers, will chair that group. The group’s members and its terms of reference will be announced by February 22, 2016. It will submit an initial report to Council by April 8, 2016.
While the independent advisory group examines measures to increase the protections available to real estate buyers and sellers, the Council will continue to fulfill its mandate to enforce the Real Estate Services Act. We will continue to vigorously investigate complaints and to discipline licensees who fail in their duties to clients.
Whenever we become aware of a licensee who puts his or her own financial gain ahead of a client’s interests, that licensee can expect to have their actions investigated and to face disciplinary action from the Council. Managing brokers have a responsibility to supervise licensees engaged at the business, and managing brokers who do not comply with these requirements can also expect to face discipline.
What You Can Do
If you have knowledge of a consumer who has been directly affected by improper actions of a licensee, encourage that person to contact the Council.
If you become aware of a licensee who may have contravened the Real Estate Services Act or the Council Rules, immediately notify your managing broker so that together you can bring your concerns to the Council.
Always keep your clients fully informed. Carefully explain your duties as their representative and what they should expect from you. The Council’s brochures, Buying a Home in BCandSelling a Home in BCinclude this information.
When a situation arises that you are unsure how to handle, ask your managing broker and consult the Professional Standards Manual. If you can’t find the answers you need, contact the Council’s Professional Standards Advisor atadvisor@recbc.caor 604-683-9664.
Always advise clients to seek independent advice on any matters that you are not qualified to advise them on, such as legal or taxation questions.
Licensees must comply with the Real Estate Services Act and the Council Rules at all times, and must always act in the best interests of the client. Remember who you work for — your client.
Sincerely,
Marylou Leslie
Chair, Real Estate Council of British Columbia
This information is provided to you by the Real Estate Council of British Columbia (RECBC).
Your feedback is always welcome and can be sent to info@recbc.ca.
