Broker Update, April 21, 2023

CREA’s Realtor Cooperation policy approved this week, with exemptions. Policy to take effect in January, 2024

As we shared earlier this week, elected representatives from real estate boards across Canada, including REBGV, voted this week to approve the Canadian Real Estate Association’s (CREA) Realtor Cooperation Policy and establish a new Duty to Cooperate into the REALTOR® Code.

The new policy goes into effect at the beginning of January in 2024. Until then, we’ll work with CREA to ensure our Brokers, and all members, understand the all the details you’ll need to know.

Before voting in favour of this policy, your elected representatives wanted to ensure that members would still have sufficient flexibility to handle different client scenarios and seller demands you may face in the marketplace.

That’s why the final policy included exemptions for rental listings, commercial listings, and new construction listings with multiple properties or units, such as a condo development or residential development project.

The policy also contains an exemption for one-to-one direct marketing, which allows listing Realtors to market listings directly to a member of the public, developer, or anyone else so long as it’s a one-to-one communication.

You can read the more details about the policy in our original announcement.

CREA is developing resources and an FAQ, and we’ll share them with you as soon they’re ready.

Vancouver REALTOR® Crystal Hung is REBGV’s REALTORS Care® Award recipient for 2022

Crystal Hung, a Realtor and Broker with Icon&co Boutique Inc., received our REALTORS Care® Award for 2022 for co-founding Pixel Moments, a successful micro-donation platform that’s inspired younger generations to raise more than $400,000 since 2021.

Crystal also personally donated $1 million to the UBC Sauder Powerhouse Expansion Project where she sits on various fundraising and leadership committees.

I encourage everyone to read and share our release announcing this well-deserved achievement to learn more about Crystal’s charitable efforts. You can also watch a short video about Crystal below.

Congratulations Crystal!

New members can complete Paragon Fundamentals on REBGV’s Learning Hub

Paragon Fundamentals Module 1 is a required education course that all new REBGV members must complete. During the pandemic, however, we were unable to track and verify the completion of this course when new members joined the Board.

With the launch of REBGV’s Learning Hub, we’ll again be able to track completions of this course by new members. Starting May 1, we’ll begin tracking this requirement, meaning any new members in your office who start on or after that date will be required to complete Paragon Fundamentals Module 1 within two months of their start date with the Board.

If your new members would prefer an in-person option, they’re available. Contact Member Relations at 604-730-3090 to register for an in-person course. Note that there’s a no-show fee for anyone who registers for an in-person course but doesn’t attend.

Whether done through our Learning Hub or in person, this required course is free for new members taking it for the first time. Anyone who wishes to re-take the course in person as a refresher will pay the regular $95 course fee.

Questions? Email education@rebgv.org or call 604-730-3087 for more info.

Reminder: All members licensed for Trading with BCFSA require REBGV membership

With BCFSA’s new rules around real estate teams, there’s been some confusion about whether all members of a real estate team require a membership with the Board.

The answer is yes. Whether a member in your office is part of a team or works independently, our rules state that if they’re licensed for Trading with BCFSA then they must join the Board.

This ensures that they have their own unique access to REBGV data so it’s not necessary to share log in codes, which is a breach of our rules.

Please contact Member Relations at 604-730-3090 with any questions or concerns.

BBQ at the Ballpark: REALTORS® Night Out is June 1

Our second annual BBQ at the Ballpark for REBGV members and their guests happens Thursday, June 1 at Vancouver’s iconic Nat Bailey Stadium.

This event sold out last year so get your tickets early!

Bring your family, bring your friends, organize an office outing, or give tickets as a gift to your clients. Each $60 ticket includes admission to the game in our semi-private area along the first base line and a full, all you can eat walk-up BBQ!

Learn more and order your tickets here!

The Lede: Rate hikes part II - the damage done

The latest edition of The Lede, featuring our Director of Economics and Data Analytics Andrew Lis, builds off his February post with a retrospective look at the impacts previous tightening cycles have had on the Greater Vancouver market.

It’s a longer post, but well worth the read. You can also watch his accompanying video below: