An independent advisory group tasked with reviewing a series of damning revelations about unscrupulous activity in B.C.’s overheated housing market says real estate agents who break the rules should face fines of up to $250,000.
In a report prepared for B.C.’s Real Estate Council, the 11-member panel also calls for confidential lines of communication like a hotline or whistleblower programs for members of the public to report wrongdoing.
Among the 60-page report’s findings are recommendations for greater scrutiny of new licensees and the end of dual agency, in which a real estate agent is allowed to act for both the seller and buyer in a deal.
The group says the 11 real estate boards that advance the interests of Realtors in B.C. should stop performing quasi-regulatory duties, which might discourage complainants from taking their concerns to the regulator.
Jason Proctor – CBC News – June 28, 2016.
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