The government of British Columbia has announced it is launching a review of the province’s two main real estate regulators.
The review will look at the roles and responsibilities of both the Real Estate Council of British Columbia and the Office of the Superintendent of Real Estate, with the purpose of examining their structure and composition, how they communicate, dispute resolution mechanisms and responsibility for licensee qualifications.
“Buying and selling property can be stressful, and people need to trust the professionals they are working with,” said B.C. Finance Minister Carole James, who said the main goal is to ensure the bodies are serving the best interest of the public.
“Our duty as a government is to make sure the regulatory system is protecting people and functioning effectively.”
Former public servant Dan Perrin of Perrin, Thorau and Associates Ltd. will lead the review.
The deadline for the review to submit recommendations to the Minister of Finance is June 15.