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Have your say on proposed changes to the Real Estate Services Rules (the “Rules”) in relation to administrative penalties. BCFSA is seeking feedback from licensees, consumers, and other stakeholders on proposed amendments proposed amendments to the real estate services administrative penalty framework.
The proposed amendments are intended to update the administrative penalty framework set out in Sections 26 and 27 of the Rules. The primary focus of updating the framework is to:
- Include unlicensed activity;
- Ensure compliance with BCFSA investigations; and
- Ensure required disclosures are provided properly.
The proposed amendments will help speed up the outcomes of compliance and enforcement processes. This will allow BCFSA to focus its resources on more complex cases, while ensuring that contraventions are responded to in a fair, consistent, and proportionate way.
The proposed amendments would not change licensing requirements under RESA nor any licensee obligations.
The consultation period will close on November 26, 2023.