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  1. Real Estate Brokerage Data Call Results and HBRP Reporting

    Contents
    Results of BCFSA’s Real Estate Brokerage Data Call and HBRP Reporting 
    Introduction 
    Real Estate Brokerage Data Call 
    Background 
    Results 
    Response 
    Usability of the Data 
    Highlights of Results 
    Next Data Call 
    Home Buyer Rescission Period (“HBRP”) Reporting
    8Background
    Results
    Observations and Next Steps 
    Source: BCREA
    19-08-2024

  2. A controversial four-storey apartment at Wilkinson Street and Springfield Road will be back before council

    Developers of a controversial four-storey apartment at Wilkinson Street and Springfield Road will be back before council Monday seeking a development permit for their project.

    Numerous residents in the area spoke out against the project during a public hearing a year ago, arguing it was too dense and too high for the single-family neighbourhood.

    Staff disagreed, offering support for the development. Council voted 7-1 in favour with Coun. Gord Lovegrove recusing himself and Coun. Ron Cannan providing the lone dissenting vote.

    By Wayne Moore
    09-08-2024

  3. 1Password expands workplace feature with Microsoft, Google integration

    Toronto-based cybersecurity app 1Password is partnering with Microsoft Corp. and Google LLC on updates to its workforce identity verification product that will expand its reach to hundreds of thousands more businesses, the company said Wednesday.

    The new integrations will allow Microsoft Entra and Google Workspace customers to purchase 1Password’s extended access management (XAM) service, which ensures that all of an employee’s devices are known and secure before granting access to company resources.

    Source: The Vancouver Sun
    08-08-2024

  4. Eli Report is an online tool powered by artificial intelligence

    A Vancouver-based startup is changing the way realtors and buyers assess condominiums and townhomes, making the process more efficient and transparent.

    Eli Report is an online tool powered by artificial intelligence (AI) that scans and summarizes condominium and strata documents, culling important information with speed and accuracy.
    By Anthony Marcusa
    06-08-2024

  5. Could Canada’s housing market wind up like Europe’s?

    There’s speculation that Canada’s housing market is headed in a direction that will land us in a foul-up similar to much of Europe, with housing prices so out of reach that many people willneverbe able to afford a home unless they inherit one.

    In a country like ours, recognized globally for its opportunities, this harsh forecast comes as a shock. But experts aren’t denying that it’s a possibility.
    By Susan Doran
    31-07-2024

  6. A three-block stretch of character homes is bracing for at least four giant towers

    It’s a particularly charming residential street — and just one of those being profoundly shaken by Vancouver’s Broadway Plan.

    This three-block stretch of character homes, which currently exemplifies the “missing middle” type of housing that politicians say they want to promote, is bracing for at least four proposed towers that would forever alter its gentle, eccentric ambience.

    Brimming with large chestnut trees and hosting a lively bicycle route, this portion of East 10th Avenue between Guelph and Fraser is home to street-art displays, including a sculpture of an elephant’s head, two share-a-book libraries, tree trunks on which passersby post their wishes, and a small flock of apparently happy chickens.

    But the bulldozers are coming to this gardened street. They are slated to remove roughly a third of the eclectic dwellings, which range from modest Vancouver Specials to remodelled 110-year-old character homes. Many of them have been renovated into multi-plexes, including with laneway homes.

     
    By Douglas Todd
    29-07-2024

  7. Rule change could make it more difficult for first-time buyers to enter the housing market

    Recent changes to British Columbia's Residential Tenancy Act (RTA) have sparked concerns from housing industry associations, particularly regarding the impact on high-ratio buyers, including first-time homebuyers.

    In open letters, the BC Real Estate Association (BCREA) and the Canadian Mortgage Brokers Association – British Columbia (CMBA-BC) have called on the BC Government to amend the new rules, citing unintended consequences that could negatively affect homebuyers, rental-property owners, and tenants.
    By Candyd Mendoza
    27-07-2024

  8. West Vancouver brokerage among 12 entities fined by Fintrac in 2023/2024 for non-compliance of anti-money laundering and terrorist financing policies.

    The Financial Transactions and Reports Analysis Centre of Canada (Fintrac) has fined West Vancouver real estate firm Masters Realty (2000) Ltd., also operating as RE/MAX Masters Realty, $83,655 for five compliance violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

    In 2021, investigators for the financial regulator — whose mandate is to detect and deter money laundering and terrorist financing — found numerous documentation deficiencies, according to a July 16 public notice of administrative proceedings.

    Fintrac determined RE/MAX Masters Realty was not documenting enough information to properly assess money laundering risks.
    By Graeme Wood
    26-07-2024

  9. The provincial government's plan to tackle the housing crisis by allowing more multi-unit homes on properties

    Almost all British Columbia communities have adopted the provincial government's plan to tackle the housing crisis by allowing more multi-unit homes on properties.

    The province says nearly 90 per cent of 188 local governments have followed the legislation that would allow for row homes, triplexes and townhouses on former single-home lots.

    It says in a statement that 15 communities have asked for extensions to the June 30 bylaw deadline, while the District of Wells and the Northern Rockies Regional Municipality have been granted extensions because of recent or current wildfire evacuations.

    The government says the District of West Vancouver — where some of B.C.'s most expensive properties are located — has rejected passing the bylaw, but it has been issued a non-compliance notice and a ministerial order could be issued.
    By Canadian Press
    25-07-2024

  10. Sutton Group has appointed James Innis as its new president and COO

    As an outsider to the real estate industry, Innis is working alongside industry veterans to bring new perspectives. “We’re combining external expertise with insider knowledge,” he explains, highlighting his intention to work within the industry to drive it forward. This collaborative approach, merging new ideas with established experience, could be the key to Sutton Group’s future success in a rapidly evolving market.

    Innis’ vision for Sutton Group is clear: leverage the company’s national reach to distribute new solutions to agents and brokers across the market. 

    By Natalka Falcomer
    12-07-2024

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