Wow. What a week.
The media continues to focus on our profession. We continue to work hard to ensure your voice is heard in the media, public and with government. The issues you’re reading about in the press are fast evolving. Here’s an overview of developments over the last week.
Media breaches
On April 6, our legal counsel issued cease and desist letters to the Vancouver Sun and Globe and Mail newspapers after learning that reporters working for those publications gained unauthorized access to content on our MLS® and www.rebgv.ca websites and reported on confidential information.
That’s why we conducted an MLS® system password change on April 4. We’re committed to preserving the integrity and security of our systems.
Real Estate Council investigations
On April 8, the Real Estate Council of BC announced it had imposed several license conditions on a local real estate brokerage while it conducts an investigation into the company. Click here to read Council’s statement. This matter is also before our Professional Conduct Committee for review and recommendation.
Independent Advisory Group releases interim report
On April 12, an Independent Advisory Group (IAG), formed by the provincial government to review the effectiveness of license requirements, submitted an interim report to the Real Estate Council. Click here to read the report. It highlights ten areas the group will address in its recommendations:
1. Additional enforcement tools for Council, such as requiring the reporting of all contract assignments directly to Council;
2. Limiting the ability of licensees to represent buyers and sellers in the same transaction;
3. Significantly increasing penalties for violations of the Real Estate Services Act and creating greater flexibility in the types of infractions subject to penalty;
4. Authorizing Council to require disciplined licensees to disgorge commissions and profits over and above penalties received;
5. Simplifying the complaint process for consumers by eliminating duplication between the real estate boards and Council, and increasing transparency;
6. Ensuring that expectations for managing brokers and Council’s power to hold managing brokers accountable are sufficient;
7. Examining business models, like unregulated ownership structures for brokerages, to ensure they don’t weaken managing brokers or Council’s ability to ensure compliance;
8. Restructuring the proportion of public and industry members on Council’s governing board to reflect best practices for governance;
9. Removing deterrents that may prevent licensees from reporting misconduct; and
10. Ensuring the public has access to resources and services in multiple languages.
The IAG asked all BC boards to respond to questions about professional conduct processes. We will provide our response next week.
The IAG will submit its final report with recommendations in June.
Vancouver Sun and Globe and Mail editorial board meetings
I attended editorial board meetings with the Vancouver Sun (April 13) and the Globe and Mail (April 15) newspapers along with other representatives from REBGV and BCREA. We talked with senior editors and reporters about coverage of our market and profession.
We said that REALTORS® believe in high standards and accountability for those who fail to meet those standards. We told them you’re upset by the allegations of Realtor misconduct and feel that all members have been tarred with the same brush.
We urged the press to work with us to ensure the information and statistics used in reporting on the housing market are credible, accurate, and in context.
We worked with BCREA on an Op-Ed article that appeared in today’s Vancouver Sun.Click hereto read that article.
You can also see excerpts from the meeting with the Vancouver Sun here:http://vancouversun.com/life/homes/buying-selling/video-real-estate-executives-face-the-music.
VanFun.com
On April 13, media reported about a Chinese-language website owned by a company in Shanghai, called www.vanfun.com, that’s allegedly pulling information from our MLS®, arranging local property tours, and earning commission proceeds.
We’re concerned that this site is illegally accessing MLS® data, manipulating MLS® information, and facilitating real estate transactions in violation of the laws and regulations that govern BC real estate.
(Here’s a link to a Global News report on this issue that includes comments from the Board.)
We’re investigating this and other similar sites. We take action where possible. In 2013, we expressed our concern to FICOM that unlicensed people associated with the site may be involved in real estate transactions in our region.
Conversations about real estate today have become emotional and political. As a result, our profession is under intense scrutiny. We’re working hard to represent your best interests and those of your clients. I’ll continue to update you on these matters as information becomes available.
温哥华天空
