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2025 Real Estate Brokerage Data Call Requirements
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REGULATORY STATEMENT NUMBER: RESA 25-001
TITLE: 2025 Real Estate Brokerage Data Call Requirements
LEGISLATION: Real Estate Services Act (“RESA”)
DATE: January 16, 2025
DISTRIBUTION: Managing Brokers, Associate Brokers, and Brokerages Licensed to Provide Trading Services
Purpose
This Regulatory Statement establishes the form and contents for the BC Financial Services Authority (“BCFSA”)’s 2025 Real Estate Brokerage (2025 Data Call).
Background information
Through the 2025 Data Call, BCFSA is collecting data on the residential real estate market and the use of the Home Buyer Rescission Period (HBRP) from all B.C. brokerages licensed to provide trading services. This Data Call builds on previous data collection efforts and is intended to support an evidence-based understanding of the functioning of the real estate market and to inform regulatory decision-making in relation to market-driven risks consumers may be facing within B.C.’s real estate market. Participation in the data call is mandatory for all trading services brokerages and a failure to respond may result in the issuance of an administrative penalty to the brokerage.
Requirements
The 2025 Data Call is made pursuant to section 93.1 of the Rules, and as requested by the Superintendent of Real Estate (“Superintendent”) and applies to all brokerages that are licensed to provide trading services. The Superintendent’s requirements include that brokerages must provide data on residential real estate transactions and the use of the HBRP. Brokerage submissions are due on or before March 31, 2025, and must be submitted via the Integrated Regulatory Information System (“IRIS”).
Detailed instructions on how to make the required submissions, and additional information about the 2025 Data Call is available on the BCFSA website.
Transaction Data Requirements
Listing brokerages are required to report all sales of residential real property* with a firm date between February 16, 2025 – March 15, 2025 where their brokerage provided services to the seller. If a brokerage does not have any relevant information to provide, the brokerage must make a submission reporting no transactions.
*Residential real property is defined in section 1 of the Home Buyer Rescission Period Regulation and includes:
- a detached house;
- a semi-detached house;
- a townhouse;
- an apartment in a duplex or other multi-unit dwelling;
- a residential strata lot, as defined in section 1 (1) of the Strata Property Act;
- a manufactured home that is affixed to land;
- a cooperative interest, as defined in section 1 of the Real Estate Development Marketing Act, that includes a right of use or occupation of a dwelling.
The specific information which brokerages are required to report is listed below:
| Data Requested | Description |
|---|---|
| Local real estate board or association where the property is located | The name of the local real estate board where the subject property is located |
| Property address | The address of the listed property (as set out in the Workbook), including property identifier (e.g., Parcel ID). |
| Date of listing agreement | The date the seller and the licensee entered into a listing agreement. |
| List price on date of offer acceptance | The list price of the subject property on the date of offer acceptance |
| Date of offer acceptance | The date on which the seller accepted the offer |
| Firm date | The date on which the contract of purchase and sale became firm |
| Sale price | The final sale price of the property |
| Total number of offers received | The total number of offers received on the subject property |
| Price of highest not-accepted offer | The price of the highest offer that the seller did not accept |
| Unconditional offer | Information on whether the accepted offer was unconditional |
| Home inspection condition | Information on whether the accepted offer included a condition precedent for a home inspection |
| Financing condition | Information on whether the accepted offer included a condition precedent for confirmation of financing |
| Insurance condition | Information on whether the accepted offer included a condition precedent for confirmation of insurance |
| Other conditions | Information on whether the accepted offer included any conditions precedent other than a home inspection, financing, and insurance |
| PDS incorporated into final contract | Information on whether a Property Disclosure Statement (“PDS”) was completed (not struck out) and incorporated into the final contract |
| Name of the seller’s representative(s) | The name of the representative(s) who is providing real estate services to the seller (or team name if applicable) (as set out in the Workbook) |
| Name of the buyer’s representative | The name of the representative who is providing real estate services to the buyer (or team name if applicable) (as set out in the Workbook) |
| Name of buyer’s brokerage | The name of the brokerage that is providing real estate services to the buyer. |
HBRP Data Requirements
Listing brokerages are required to report all rescissions of a contract for the purchase and sale of residential real property* under s. 42 of the Property Law Act which occurred on or between January 1 – December 31, 2024. If a brokerage does not have any relevant information to provide, the brokerage must make a submission reporting no rescissions.
The specific information which brokerages are required to report is listed below:
| Data Requested | Description |
|---|---|
| Local real estate board or association where the property is located | The name of the local real estate board where the subject property is located |
| Property address | The address of the listed property (as set out in the Workbook), including property identifier (e.g., Parcel ID). |
| Property type | The type of residential real property. |
| List price on date of offer acceptance | The list price of the subject property on the date of offer acceptance |
| Sale price | The final sale price of the property |
| Date of offer acceptance | The date on which the seller accepted the offer |
| Rescission notice date | The date the rescission notice was sent by the buyer |
| Amount payable on rescission | The amount of rescission fee the buyer was required to pay the seller. |
Additional Information
Mandatory Compliance Required
Response to the 2025 Data Call is mandatory for all trading services brokerages. Section 93.1 of the Real Estate Services Rules (“Rules”) requires licensees to provide records and information pursuant to requests by the Superintendent and in accordance with the requirements specified by the Superintendent.
Section 93.1 is a Category A designated contravention pursuant to section 26 of the Rules, and is subject to an administrative penalty of $1,000 for a first contravention and $2,000 for any subsequent contravention under section 27 of the Rules. Failure to respond to the 2025 Data Call may result in the issuance of an administrative penalty to the brokerage.
Publication of Results
BCFSA intends to publish the aggregate results of the 2025 Data Call in a summary report. This is consistent with the approach taken in previous years and the report will provide a general overview of the data collected as well as any observable trends or analysis. The report is intended to inform industry and the public on general market conditions and consumer risks.
For more information, please see the resources below:
- 2025 Data Call Information
- 2025 Data Call Instructions
- 2025 Data Call Advisory
- 2024 Real Estate Brokerage Data Call and HBRP Report
Legislation
Real Estate Services Rules, s. 93.1
RESA, s. 122
Copies of the legislation are available from www.bclaws.gov.bc.ca
Regulatory Statements establish the form and content of a regulatory submission; prescribe the manner of meeting or enforcing a requirement existing in an enactment; and/or provide the regulator’s view of the laws that BC Financial Services Authority administers. Regulatory Statements are made pursuant to a requirement or power contained in provincial legislation. Compliance with a Regulatory Statement is therefore mandatory. Regulatory Statements may refer to law, practice, or background existing at the time of publication. If relying on the legal information contained in a Regulatory Statement, confirm that any references to the law, including enabling legislation, are up-to-date and obtain independent legal advice, when needed. Regulatory Statements are effective on the date of their publication, unless stated otherwise.