Role of Managing Brokers in B.C.'s Changing Real Estate Landscape
The Office of the Superintendent of Real Estate (OSRE), in collaboration with the Real Estate Council of British Columbia (RECBC), is undertaking work to review the roles and responsibilities of managing brokers in B.C.’s changing real estate landscape to ensure the role continues to support regulatory protections for consumers, and fosters a strong culture of professionalism among licensees.
Managing brokers occupy a critical role in the industry and have formal responsibility for the business operations of their brokerage and the actions of the licensed and unlicensed staff who provide services on the brokerage’s behalf. OSRE is aware that changing business models and practices may be adversely influencing the ability of managing brokers to effectively uphold their regulatory duties.
To ensure that challenges are being properly identified and the right potential solutions are considered, this multi-phase project will include a number of different opportunities for licensees, including managing brokers, to contribute their thoughts and feedback.
- September 2018: Initial information-gathering survey to identify issues and challenges – complete
- Fall/Winter 2018: In-person regional engagement sessions in Prince George, Kelowna, Cranbrook, Vancouver and Victoria and written feedback from managing brokers to further explore impacts and possible solutions with managing brokers – complete
- Spring/Summer 2019: Discussion paper based on the feedback received including potential proposals and solutions
Licensees and the public will have an opportunity to comment on the proposals being put forward. Watch this site for updates as the project progresses and for information on stakeholder engagement opportunities.
- November 16, 2018: Discussion Guide for Managing Broker Regional Roundtables (PDF)
- November 16, 2018: Roundtable presentation and discussion questions (PDF)
- November 9, 2018: November 2018 Consultation Summary Report (PDF)
- October 23, 2018: Invitation to participate in regional engagement sessions with managing brokers (PDF)
- September 6, 2018: Invitation to participate in information-gathering survey (PDF)