Regulatory resources FAQ

Practice Resources
Published on
squircle icon

Here are answers to some of the key questions we received about BCFSA’s Regulatory Guidance.

  • No. The PSM and BSM will be replaced on the BCFSA website by the Information and Guidelines. However, many of the useful elements from the PSM, such as checklists, case studies and examples, will still be available on Knowledge Base as additional resources linked to the relevant Guidelines.

  • No. Our new regulatory guidance materials are simply a different way of providing information to professionals. No regulatory requirements for real estate professionals are changing as a result of the introduction of the Regulatory Information and Guidelines

  • Yes! The new materials will be reviewed on a regular schedule, and updates or revisions will be communicated to all real estate professionals. Each Guideline is dated, and we will add the dates of any revisions, so that you can have confidence that you are using the most up-to-date guidance available.

  • The information and guidelines are available in the Knowledge Base. The new resources include managing broker considerations and relevant cases to assist you in your decision making. Practice Standards Advisors are available to provide information and respond to practice inquiries.

  • Inform the real estate professionals at your brokerage about the changes, ensuring they are well versed. Create robust policies and procedures for your brokerage. 

  • Yes. One of the purposes of this project was to ensure that the information and guidelines were following the “continuum of education”. Our goal is that the information and guidelines are consistent all the way from the pre-licensing course to the new regulatory resources. 

  • No. As a result of integration, the Information and Guidelines are consistent with the approach to the guidance at BCFSA.

  • Yes! Relevant forms, checklists, articles and other documents will be linked from the appropriate Guideline. We want to make sure you have easy access to all the information you need. 

  • A key focus of the project is to improve search functionality on the BCFSA Knowledge Base so that you can find the information you need quickly and easily. 

  • We strongly recommend that you use BCFSA’s online guidance in order to ensure that you have the most up-to-date information on requirements and compliance standards. 

  • BCFSA’s Practice Standards Advisors offer confidential information services for real estate professionals. They can point you to the regulatory information you need.