British Columbia Real Estate Services Rules
Last revised January 15, 2025

The Real Estate Rules were rules of the Real Estate Council of British Columbia (RECBC). The RECBC regulated and enforced standards for real estate professionals in BC.

However, these Rules were not a regulation. They were made by Ministerial Order M417/2004, effective January 1, 2005 under section 136 of the Real Estates Services Act, SBC 2004, c. 42.

In 2021, RECBC was dissolved. In response to expert recommendations on combatting money laundering and ‘shadow flipping’, RECBC and the Office of the Superintendent of Real Estate integrated with the BC Financial Services Authority (BCFSA) to become a single integrated regulator of B.C.’s financial services sector on August 1, 2021, pursuant to the Finance Statutes Amendment Act, 2021, SBC 2021, c. 2.

Under the new regulator, new rules were issued. They were called the Real Estate Services Rules and issued as a regulation, BC Reg. 209/2021. BCFSA has point in time consolidations of the old rules between January 1, 2005 and July 31, 2021. They also have a Table of Concordance between the old and new rules.

Pre 2005, regulatory requirements like licensing requirements and exemptions were established by the former Real Estate Act and regulations. However, RECBC was responsible for licensing and education with the ability to establish the details of the licensing scheme through bylaws.

 

Content reviewed January 15, 2025