Broker Update, February 7, 2025
BCFSA launches 2025 brokerage data call: What you need to know
The BC Financial Services Authority (BCFSA) recently announced the mandatory 2025 Real Estate Brokerage Data Call to all brokerages.
The data call aims to gather information on residential real estate transactions and the use of the Home Buyer Rescission Period (HBRP) across BC.
This year’s collection builds upon previous efforts and follows BCFSA’s August 2024 announcement regarding changes to the HBRP reporting format.
Submission details and deadlines
Brokerages can begin submitting their data on February 18, 2025, with a final deadline of March 31, 2025. BCFSA has created step-by-step instructions for brokerages on what data they need and how to submit this information.
Participation in the data call is mandatory, and failure to comply may result in administrative penalties for non-responding brokerages.
Data from GVR
GVR is working with other BC boards and associations that use Paragon MLS® to update the fields in Paragon to make it easier for brokers to collect some of the data BCFSA is asking for. Once these fields are updated, we’ll provide you with instructions on how to get a spreadsheet of this data from Paragon.
This update should be finished soon - we'll let you know as soon as it’s available.
For further details and submission instructions, visit the BCFSA website.
Members needed for in-person product testing in February
We need approximately 15 members and three managing brokers to help us test a new offer management product.
We’re offering three time slots over two days on February 24 and 25.
Discuss the latest disciplinary decisions in your office
Stay on top of the work GVR does to uphold and enforce professional standards within the profession and resolve disputes between members.
Our Professional Conduct Committee (PCC) investigates alleged member breaches of the Realtor Code and our Rules of Cooperation. Review the PCC’s latest ruling (C24-25 Consent to Discipline).
Knowledge and support available on BCREA's broker resources page
The BC Real Estate Association’s (BCREA’s) resource page for managing brokers has a wide variety of information and tools for you to access.
You’ll find:
- The Community of Practice, with live sessions every other Wednesday. Check out sessions coming up on February 12 (Shaping the Future Together with BCREA Leadership) and February 26 (Government Relations Update)!
- The Managing Brokers’ Portal, a one-stop resource linking you to BCREA’s services for brokers and more, including compliance resources, legal guidance requests, and professional development for managing brokers.
- The Managing Broker Support Group, which was created to help new and seasoned brokers connect to share experiences and deepen their knowledge and skills.
- The Managing Broker Support Line, where BCREA’s professional standards advisors are just a phone call away.
Connect with and explore BCREA’s broker support resources today.
Learn more about GVR’s pension plan with an in-person office visit
Are you interested in learning more about Greater Vancouver REALTORS® first of its kind Personal Pension Plan (PPP) for incorporated members?
Book a presentation, virtual or in person, for your group or office to learn everything you need to know about this exciting new opportunity!
Our local contacts on the PPP are with Medici Family Office. Email David Nelson at david@medicifamilyoffice.com or Joy Case at joy@medicifamilyoffice.com to arrange your session.
About the PPP
Greater Vancouver REALTORS® launched our new, first of its kind pension plan for incorporated members in 2024. The PPP can provide increased tax-deductible investment room plus tax-saving opportunities well above what’s available under the RRSP and TFSA programs.
You can find resources, sample quotes, and interviews with INTEGRIS CEO JP Laporte here.
Coffee and connection with GVR’s NRG February 11
If you have members who are early in their careers in your office, let them know about GVR’s New REALTORS® Group. We have a free Coffee Connections event happening at the GVR office on Tuesday, February 11 and we would love to see them there.
Register for the event and learn more about the NRG here.
Get free tickets to this GVR-sponsored sales training event while they last!
Greater Vancouver REALTORS® is sponsoring Sales to Scale, an upcoming sales-focused event designed to help REALTORS® build their business, and you could get one of 25 free tickets!
Sales to Scale, coming up on March 10, is designed to give Realtors a clear path to scale their business without sacrificing integrity or quality of service.
The all-day event will feature practical insights from successful agents and industry leaders. I will be there as well.
As a special offer to our members, we’re giving away 25 free general admission tickets to the event! All you need to do is use coupon code REBOOTGVR at the checkout when you register.
This code is limited and first-come, first-served, so register today!