REALTOR® NEWSREALTOR® NEWS
October 20, 2021



Featured News

Want to run in our 2022 Board of Directors election? Candidate applications due by November 15

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Are you interested in running to serve on the Real Estate Board of Greater Vancouver’s (REBGV) Board of Directors?

If you have the skills and experience to serve your professional association, we want to hear from you!

The deadline to apply to run in our 2022 Board of Directors election is 5 p.m. on Monday, November 15. Email becomeadirector@rebgv.org to get your application process started.

To learn more about the work and time commitment needed to serve on the Board of Directors, click here.

Skills needed in new directors

Each year, the Board of Directors appoints a Board Development Committee (BDC) to guide the process of identifying and recommending high-quality Director candidates for election.

Part of this work involves annually assessing the skillsets most needed to strengthen and diversify the talent around the current Board of Directors’ table.

In consultation with the current Board of Directors, the BDC has prioritized candidates with the following experience, knowledge, and characteristics for this year’s election:

  • Members with experience running a business, including business acumen and strategy. This includes Managing Brokers.
  • A balance of female and male directors who come from diverse ethnic backgrounds and cultures.
  • Diversity of thought and high emotional intelligence, which is a characteristic necessary for the teamwork that helps the directorate innovate and responsibly lead our organization.
  • A service-first attitude where the desire to serve on the Board isn’t driven by self-interest.
  • Experience in governance with other organizations.

Click here to learn more about the BDC’s work.

Get updates from your Board at our November 9 member meeting

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REBGV's Board of Directors is hosting this year's member meeting November 9 at 10 a.m.! Join us for an online session with CEO Brad Scott and Chair Taylor Biggar.

Presentation topics include:

  • Updates on our strategic plan.
  • MLS® and professionalism research initiatives.
  • The future of MLS® technology.
  • How REALTORS® and the real estate profession are changing.
  • Succession planning at REBGV.
  • And more.

Watch a meeting preview with Taylor Biggar:

This will be an interactive session with plenty of opportunities for you to ask questions or share your opinions.

How to register

Our member meeting is free to attend, but you need to register to receive a link to the meeting. Click here to register.

Remember, you’ll receive one PDP hour for attending the meeting.

We hope to see you there!

The REALTORS Care® Blanket Drive is back!

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The 27th annual REALTORS Care® Blanket Drive starts on November 15, but you can start gathering your donations now!

We’re collecting blankets and other warm clothing again after a hiatus last year due to the COVID-19 pandemic.

We’re looking for donations of:

  • Warm clothing
    • Coats
    • Sweaters
    • Gloves/hats/scarves
  • Blankets, sleeping bags
  • New socks
  • New underwear

We’re also continuing our online fundraiser. All proceeds go directly to help local charities. Click here to make a donation.

COVID-19 was hard for all of us last year, but it was especially difficult for our charities and the people they help keep warm during the winter months.

This year we can help. Start collecting your blankets, warm clothing, and new socks and undergarments for this year’s REALTORS Care® Blanket Drive. This year’s event runs from November 15 until November 22. 

For information on drop-off locations and more, visit www.blanketdrive.ca. You can also follow this year’s efforts and share your stories on social media. Visit our Blanket Drive Facebook Page and tag your posts using these hashtags:

#realtorscare #blanketdrive #realtorscareblanketdrive 

Stay tuned for more details in the days and weeks ahead!

Lawful versus "not cool"

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Laws, regulator requirements, and our standards are written documents and easy to find. For example, you can go to the REALTOR® Code of Ethics or Rules of Cooperation, scroll to the appropriate standards and read what they have to say.

Ditto for BC Financial Services Authority’s Rules and the Real Estate Services Act.

As well, there’s a thicket of other written statutes and requirements governing what we do. If there’s a rule or a law, deciding what to do can be quite easy. Just follow the requirement and carry on. I think that’s why we often say things like, “we need a rule for that.” It makes things easy. You don’t have to think.

But sometimes there is no law, a rule isn’t clear, or a standard is open to some interpretation. That’s when things can get exciting. The lawyers may weigh in. Or regulatory advisors. Or someone like me. Or someone with the loudest voice on a chat site. (That’s okay; everyone can have an opinion but be careful who you listen to.)

In these “grey” situations, before you act, remind yourself who your client is and what your agency duties are. Give a thought to your reputation, as well as to the collective reputation of the profession. We’ve all got skin in the game for what we do. We’re judged by the public’s collective experience of us. You could also try asking yourself whether you’d be embarrassed if others were to find out what you just did (or are thinking of doing).

I’m talking about those actions that are lawful and don’t break any rules, but that your colleagues and probably their clients consider as being “not cool.” Which is another way of saying, “It may be legal, but what you just did sucks.”

It can be tough to defend yourself in the public square by arguing, “Hey, what’s your problem? What I did was legal.” You might be technically right, but you won’t be convincing. It’s an example of winning the battle but losing the war.

Remember those 20 or so Canadian politicians who ignored provincial health officer guidelines and left the country for a holiday last Christmas? Understandably, some Canadians (maybe many) were indignant. “WTH,” they said. “We’re all hunkered down at home, not seeing our families and these clowns ignored what the government was asking and left town for a holiday.” It didn’t play well, as they say. A few of those politicians defended themselves by saying they hadn’t actually broken the law, so what was the problem? “The health officers’ wishes were just guidelines, after all,” they said. This argument didn’t play well.

In our recent federal election, one candidate’s history of flipping properties for profit (before he stood for office) became a topic of conversation. Flipping properties for profit is legal. But given that some, maybe many, think flipping properties contributes to the high cost of housing, the candidate’s actions caused a kerfuffle. “Well, it may have been legal but it wasn’t cool, especially when your party’s platform had lots to say about housing affordability,” seemed to be the collective reply. To the candidate’s credit, he didn’t try to defend himself by arguing what he did was legal, but I suspect he probably had a few uncomfortable days before being elected with this issue in the spotlight.

There’s a good lesson for us all in here. We’re in a profession. Professionals are expected to look after their clients, to be competent, and to have an eye for the public good. Doing something that isn’t a breach but casts a negative light on the profession doesn’t help improve our 45 to 50 per cent approval rating.

Saying, “I didn’t break the law” or “I met the minimum legal standard” just doesn’t cut it. Is that what you want written as your epitaph? How proud would you be if your headstone said, “Not a bad person, they didn’t break the law”? Is that the best we can do? Let’s aim higher. Other professions do.

Top tip: Article index available

In a recent conversation, a managing broker suggested that since not all members read this column (perish the thought) it would be handy to have a quick reference guide to all the articles I’ve written on delayed offers, DRPOS, and the like. Do you know my trusty copy editor and indexer Teresa (a UBC School of Information Science, SFU tech writing, and Harvard journalism graduate), has indexed every column I’ve ever written since 2006? You can access the index online.

Rules of Cooperation, Rule 4.02 governs delayed offer requirements as well as the protocol to follow if an early offer comes in. Since the rule has been amended at least twice during the past five years, I’d recommend reading articles on the subject written in 2018 or later (preferably, the latest one, written September 8, 2021).

Systemizing success: How REBGV ensures excellent service

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Did you know your Board has a wide variety of systems in place to solicit feedback, foster innovation, and provide the best customer service possible?

These systems are part of REBGV’s Excellence program—our continuous strategic approach to, and application of, leading business principles and practices in leadership, governance, planning, customer service, people engagement, process improvement and organizational performance and development.

Your Board has been recognized for this approach, receiving the Canada Award of Excellence—Platinum Certification in its Excellence, Innovation, and Wellness Standard from Excellence Canada in 2019.

Now we’re working toward the next, and final, level of certification from Excellence Canada, the Order of Excellence. To help us reach this level, we’ve instituted and improved processes across all departments.

Here are a few of the systems we’ve been working on.

Customer Experience Plan

Our commitment to providing the best possible service has been formalized in our Customer Experience Plan, which highlights the many ways we serve you, our plans to ensure we continue to deliver excellent service, and the measurements we use to make sure we’re doing the job right.

Using your feedback

Your feedback is a key component in how we plan new services and offerings for you, as well as how we measure the success of our efforts. We collect your feedback in a number of ways, from surveys and polls to focus groups and comments collected at Board events.

There are plenty of examples of how we turn your feedback into new products and services. For example, after receiving feedback on our invoicing process, we changed how we deliver our month-end statements, sending them to you online instead of by mail. The result? Savings 20,000 sheets of paper per month and reducing our average monthly postage costs from around $2,600 to just $120. We’re also working on an improvement that will give third parties, like accountants, secure access to these statements, again based on feedback we received from office managers and brokers.

Paragon is another example. We receive regular feedback from members on how to improve the system. We told Black Knight, the providers of Paragon, that our members need updates faster, and we worked with them to strengthen our partnership and explore new ways for your feedback to influence changes within the system.

We have a members-come-first mindset at the Board, but we take it a step further. We seek to provide an experience that is welcoming, responsive, helpful, knowledgeable, and service-oriented in our dealings with you.

Excellence Canada

Your Board has been on an excellence journey since 1996. That’s when we began our relationship with Excellence Canada (formerly the National Quality Institute). Founded in 1992 by Industry Canada, Excellence Canada is an independent, not-for-profit corporation dedicated to advancing organizational performance across Canada.

What began as a way to expose our organization to leading business practices has evolved into a workplace culture that fosters creativity, innovation, and a mindset of continual improvement. At the heart of it all is our people: our members and our staff. We strive to provide the best possible service to our members, and we equip our staff with the tools and resources necessary to deliver that service.

As we look forward, we’ll continue to provide the best possible services, products, and offerings in line with our commitment to excellence with you.

Congratulations to our 2021 scholarship recipients!

We've awarded the children of five members with post-secondary entrance scholarships.

Each recipient received $1,500 toward this year’s education costs. The scholarships are based on performance in academics, athletics, fine arts, and community service.

This year’s recipients are:

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Amos Cheng, son of Nixon Cheng, Regent Park Fairchild Realty Ltd.

 

 

 

 

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Samantha Ma, daughter of Becky Ma, Royal Pacific Realty (Kingsway) Ltd.

 

 

 

 

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Kaitlyn Loo, daughter of John Loo, Park Georgia Realty Ltd.

 

 

 

 

 

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Keean Fisk, son of Preston Fisk, Macdonald Realty

 

 

 

 

 

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Tessa Fisk, daughter of Preston Fisk, Macdonald Realty

 

 

 

 

 

Good luck to our recipients, and to everyone who applied!

Other News

False Creek south, two growth surveys, new complaint process, and our affordability recommendations

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False Creek South redevelopment plan headed to council

The city of Vancouver proposes to redevelop 80 acres of city-owned land between the Burrard and Cambie bridges on south shore of False Creek and has released the conceptual plan.

Read more.

Have your say about growth in two surveys

Metro Vancouver wants feedback on its regional growth strategy. TransLink wants your input on its transportation strategy. Here’s your opportunity to help shape our future.

Read more.

New landlord/tenant complaint process

If you or your clients as landlords or tenants have a dispute, go through the Residential Tenancy branch process and aren’t satisfied with the outcome, there’s a new complaint process.

Read more.

Your Board’s recommendations on how to spend the BC Budget

Last month, a government finance committee toured the province asking for ideas on how to spend the 2022 BC Budget. REBGV submitted recommendations focused on making market housing more affordable.

Read more.

Review the latest decisions from your PCC

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Stay on top of the work your Board does to uphold and enforce professional standards within the profession and resolve disputes between members.

Our Professional Conduct Committee (PCC) investigates alleged member breaches of the REALTOR® Code and our Rules of Cooperation. Click here to review the PCC’s latest rulings (C21-08).

Remember to always report your sales to MLS®

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Our MLS® department is working to reconcile unreported sales data for listings that sold before they’d been terminated or left to expire. We’re regularly reviewing Land Title and Survey Authority of BC sales data against expired or terminated listings to ensure we’re capturing any sales info that’s missing from the MLS®.

If you have one of these unreported sales within the last two years, our MLS® department staff will reach out to you in the coming weeks to collect sale information.

Remember that our Rules of Cooperation (5.01) require that you report sales to the MLS® department within five calendar days of the listing becoming unconditional. The MLS® is our most valuable asset, and we need everyone’s full participation to keep it the most accurate and comprehensive source of real estate information that exists.

If you have questions, email mls@rebgv.org.

Register for one of our upcoming virtual events!

We're adding new member events all the time. Register for one of our upcoming virtual member engagements - here are the details:

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Retirement and succession: What REALTORS® need to know

Have you thought about retirement and what to do with your real estate business when the time comes? The legal structures behind your real estate business will influence your options.

Join real estate lawyer Bijan Ahmadian for an informative session about these legal structures and other considerations to keep in mind when planning your retirement and succession for your real estate business.

During the session, Bijan will discuss:

  • The pros and cons of incorporating your real estate business, including legal structures and choosing a form of payment (salary, dividend, or loan).
  • The best legal options for holding your investment property to minimize and/or delay taxes and probate fees.
  • Legal services you should consider when buying or selling a real estate business.
  • What happens if you die without a will.

Register for this event here.


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2021 and beyond: A Tri-Cities municipal update

Take in our presentation on October 28 and get informed about the latest development plans and municipal updates from the mayors of the Tri-Cities!

Coquitlam Mayor Richard Stewart will discuss:

  • The importance of housing as a social good, and the challenges of the current housing shortage.
  • Coquitlam’s efforts to ensure a wide range of affordable housing options, both rental and ownership.
  • Coquitlam’s Housing Choices program, aimed at gently densifying existing single-family neighbourhoods by allowing multiple homes on a lot.
  • The challenges of multiple secondary suites in a single-family home.
  • A summary of provincial policy direction related to the housing supply.

Port Moody Mayor Rob Vagramov will discuss:

  • Investigating the divestment of city investments from fossil fuel markets.
  • Protecting and expanding Port Moody's key park assets.
  • Using city-owned lands for community uses.
  • Phasing out single-use plastics.
  • Investigating the removal of Ioco Road from Translink's Major Road Network to restrict thru traffic.

Port Coquitlam Mayor Brad West will discuss:

  • Downtown revitalization and growth throughout the community.
  • Port Coquitlam’s housing options and affordability issues.
  • New developments coming to Port Coquitlam.
  • COVID-19 supports.

Register for this event here.


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Boundaries between strata corporations & short-term rentals

Condominium Home Owners Association Director Tony Gioventu is back for a fireside-style chat about strata corporations and short-term accommodations. City of Vancouver Bylaw Officer Claire Thompson and Lisa Mackie, Partner, Alexander Holburn Beaudin + Lang LLP will also join the session to share their perspectives.

They’ll discuss:

  • Juridical function and the roles of the city and the strata.
  • Whether strata corporations can limit time for rentals, house exchanges, or Airbnb.
  • How strata corporations are managing security access during COVID-19.

Register for this event here.


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2021 and beyond: A Sea to Sky municipal update

On Wednesday, November 3, take in our presentation and get informed about the latest development plans and municipal updates from the Sea to Sky region. Presenters include:

  • Whistler Mayor Jack Crompton.
  • Acting Squamish Mayor Chris Pettingill.
  • Squamish Director of Community Planning Jonas Velaniskis.
  • Director of Planning & Development Services for the School of Livelihood and Rural Development Kimberly Needham.
  • President and CEO of the Nch’kay Development Corporation Bernd Christmas.
  • Pemberton Councilor and former REALTOR® Ted Craddock.

They’ll discuss:

  • Community climate action, municipal energy, and emissions plans.
  • Emerging sector roadmap: Outdoor recreation and green economy.
  • Neighborhood planning processes.
  • Squamish development updates.
  • Why Whistler real estate is different and the current reality of Whistler’s housing market.
  • Whistler’s Housing Authority and Development Corporation plans.

Register for this event here.

Last call! Complete our MLS® survey and win a $50 gift card

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Your Board is partnering with the Mustel Group to conduct public and member research that will help us identify strategic opportunities to serve you more effectively. It will also enhance the way we position the MLS® and you, our REALTOR® members, to the public.

To help with this work, we need your feedback. Please complete our survey that focuses on how you perceive, use, and value the MLS® today. It takes just 10 minutes.

Enter your contact details (name, phone number, and email) when the survey prompts you for a chance to win one of three $50 gift cards!

We appreciate your help with this research!

Test your knowledge of market valuation

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Determining a property’s value in today’s real estate market can be a challenge, especially when it’s difficult to find a suitable comparable property. When it’s time to adjust your client’s sale price, do you know how to apply the right concepts and principles to ensure you’re making the appropriate adjustments? Take this quick quiz to find out!

Try our other quizzes today!

Our new series of short quizzes will help you make the best choice about which PDP courses will benefit you most.

Our quizzes are quick and easy, and they’re optimized for mobile devices so you can take them anywhere, anytime. Try them today!

Courses and Events