Applied Practice Courses Consultation

BC Financial Services Authority (“BCFSA”) is consulting on the development of Applied Practice Courses (“APC”) for new managing brokers and for individuals seeking licensing to provide rental property management services or strata management services. These practical courses would be required following the successful completion of a licensing exam. BCFSA is looking for feedback from managing brokers, rental property managers, and strata managers on the skills and knowledge required for success in these roles.

About the Applied Practice Courses

BCFSA’s Applied Practice Courses focus on building learners’ practical skills and on key areas of regulatory requirements. By getting hands-on, practical experience before licensing, new licensees are better prepared to provide competent and knowledgeable real estate services to consumers. 

BCFSA currently requires anyone applying for licensing in residential or commercial trading services to complete an APC to help ensure that new real estate licensees are fully prepared, and to protect consumers. BCFSA plans to introduce an APC for new managing brokers, and an APC for new strata and rental licensees.  

Next Steps Following Course Development

To become licensed as a managing broker, rental property manager or strata manager, candidates would be required to register for and complete an APC after they successfully complete the relevant licensing course and examination.

Background

BCFSA continues to review and enhance its education programs for real estate licensees and mortgage brokers and has undertaken a multi-year project to address gaps identified in qualification requirements across the sector.

In the first year of this initiative, the focus is on developing APCs for rental property management, strata management, and managing brokers.

Several courses are already available for rental property managers and strata managers through other institutions and organizations. While the development of the strata and rental APC is underway, BCFSA may consider accrediting one or more of these courses if appropriate.

In the second year of this initiative, we may enhance the Applied Practice Courses by developing a more rigorous mentorship framework and introducing an integrated examination. This work is an important priority for BCFSA and will help promote confidence in licensing requirements and the professionalism of the real estate and mortgage broker industries.  

Consultation Timeline

1. Phase 1: Managing Broker Focus Groups
   (October 2022 – March 2023)
2. Phase 2: Licensee Survey
   (April 19 – May 10, 2023)
3. Phase 3: Technical Working Group
   (Winter 2024)

The Consultation Process

Phase 3 (In Progress)

BCFSA is consulting with a representative group of industry members across three technical working groups during this phase of the consultation. These technical working groups comprise of industry experts and practitioners who will provide invaluable feedback to BCFSA including reviewing the draft course outlines to ensure the quality, relevance and effectiveness of the courses. Their contributions, based on their expertise and practical experience, will ensure the courses are meticulously crafted to meet industry requirements.

Technical Group Members

Managing Brokers
Connie Buna, Keller Williams Realty Van Central
Tom Garvey, RE/MAX of Nanaimo
Stephen Hall, Preferred Property Management
Adrienne Hewett, Hewett Homes
Sean Michaels, Obsidian Property Management
Delia Schatz, Breakside Real Estate Group
Gavin Thomas, Royal Lepage East Kootenay Realty

Strata Managers
Joseph Bastien, Crossroads Management
Greg Bickert, Inspire Property Management
Stephen Ellis, Century 21 Prudential Estates (RMD) Ltd.
Grant Hastings, Leonis Management
Cassi Hill, Firm Management
Colleen Semple, Profile Properties
Sorina Timonea, Bayside Property Services Ltd.
Jennifer Woodman, S.D. Woodman Management Ltd.

Rental Property Managers
Cheery Cao, Peterson Commercials
Kathy Grantham, 460 Property Management Inc.
Stephen Hall, Preferred Property Management
Chris Kasianchuk, Warrington PCI Management
Jayme-lyn King, Devon Properties
Gregory Long, Rhome Property Management
Shelley Peach, Highpoint Realty Ltd.

Phase 2 (Completed)

In Phase 2, BCFSA invited managing brokers, strata managers, and rental property managers to take a brief survey that will help provide insight on the practical skills and knowledge most needed to develop new Applied Practice Courses at BCFSA. The survey closed on May 10, 2023. Thank you to the respondents who took the time to complete the survey.

Phase 1 (Completed)

In Phase 1, BCFSA invited managing and associate brokers to participate in two webinars and share their thoughts on the skills and knowledge required to be successful in their roles. The webinar included interactive breakout sessions moderated by a BCFSA Team Member, providing participants with an opportunity to give their insight on the practical skills and knowledge most needed for newly licensed brokers.