Member Update June 4, 2020

June 04, 2020

Watch our first Innovation Series video — Guest #1: Kim Spencer

We’re launching a new Innovation Series of videos aimed at helping REALTORS® discover new practices, tools, and knowledge to help you adapt and evolve your business.

Our first video features the Ethics Guy® Kim Spencer. Watch as Kim provides five tips to help you position your business to thrive during and after the COVID-19 pandemic.

We’ll share more videos in our Innovation Series, featuring different guest speakers, in the weeks ahead!

Share our May housing market infographic and other stats resources

We released our latest MLS® housing market report to you and the public on Tuesday. The May 2020 numbers show that home prices are remaining steady during COVID-19 and that home buyers and sellers are becoming more comfortable operating in today’s market.

Here are some resources to help you share the latest housing market statistics with your client:

  • Share our May 2020 housing market infographic on your social media feeds by clicking here.
  • Share our May 2020 housing market report here.
  • Listen to REBGV Chair Colette Gerber discuss recent market trends live on CKNW here (scroll to the 16 minute and 35 second mark of the podcast).

How COVID-19 disclosure forms help you manage risk today

To help you mitigate risk and manage liability, the BC Real Estate Association (BCREA) and the Canadian Real Estate Association (CREA) have each created a disclosure form for you to use during the pandemic.

While essential service workers like REALTORS® are protected by ministerial order against legal liability outside of gross negligence, these forms are available to bolster this protection.

“With the ministerial order, and some common sense, you should be protected,” said Ethics Guy® Kim Spencer. “These forms may not be required, but they’re available to support good risk management. If it were me, I’d use them.”

Here's a summary of these forms:

BC Real Estate Association (BCREA) Notice and Acknowledgement form

This form ensures your client is informed of the latest public health directives and understands what a Realtor can and can’t do during the pandemic. It also advises the client to seek independent legal advice to understand their obligations.

Canadian Real Estate Association (CREA) Coronavirus Statement and Consent form

This form covers COVID-19 transmission. It states that the client hasn’t travelled outside the country within 14 days and isn’t exhibiting COVID-19 symptoms. It also outlines their obligations if they test positive for COVID-19.

Some Realtors and brokerages have also produced their own forms similar to the ones above. While these forms all have a different focus, they all have a common purpose: risk management.

Ultimately, your managing broker is the one responsible for risk in your brokerage. Make sure to discuss these forms with your managing broker and follow their guidance.

Federal government giving $2.2B to municipalities hard-hit by COVID-19

The Federal Government is fast-tracking $2.2 billion for municipalities hardest-hit by the COVID-19 pandemic.

The money is intended to prevent shortfalls in municipal budgets that may result in layoffs, service cuts, and property tax increases.

We’ll provide more information as it becomes available.