Regulations supported for real estate industry

Victoria will replace the industry-led Real Estate Council of B.C. with a superintendent of real estate

There is local support for changes to how the real estate sector is  regulated.

The provincial government will replace the industry-led Real Estate Council of B.C. with a superintendent of real estate and fines for real estate misconduct will also be increased.

“OMREB is in full support of initiatives that raise the bar for real estate practice and, more importantly, offer further protection for our clients,” said Anthony Bastiaanssen, Okanagan Mainline Real Estate Board president.

Lynette Keyowski, OMREB executive director, insists the vast majority of realtors are honest, hard-working and doing a good job.

“When I talk to realtors, professionalism is what they want, both for their clients, and for themselves, so I feel Okanagan realtors will welcome an environment that further helps facilitate this,” said Keyowski.

Keyowski added that OMREB will continue to place consumer protection first and foremost through realtor education and enforcement of OMREB’s rules of practice and those of the Canadian Real Estate Association.