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Have your say on Real Estate Services Rules (the “Rules”) amendments related to data collection.
BCFSA is seeking feedback from the public and real estate licensees on proposed amendments that would strengthen and clarify BCFSA’s authorities to collect real estate data.
The proposed amendments to the Rules will clarify what information licensees are required to provide when BCFSA requests it. Currently, we collect information in two key ways:
- Annual brokerage information filings (e.g., financial statements, summary of brokerage activities); and
- On request, such as during an audit or investigation.
Stronger record-keeping and disclosure requirements are also part of this consultation. The proposed changes include:
- Retention of offers; and
- Written disclosures of conflicts of interest.
Relevant and timely data provides important insights that help BCFSA assess and respond to real estate market conditions and risks, inform regulatory decision-making, and helps support investigations.
- Annotated Proposed Rules Amendments
- Advisory: Consultation on Real Estate Services Rules Amendments for Data Collection and Results of the 2023 Real Estate Brokerage Data Call