REIBC - The Real Estate Institute of British Columbia E-Newsletter
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February 2023

Meet a Member

Whether you have years of experience or are new to the industry, REIBC is your key to career advancement and connection with the real estate industry.  Professional members have achieved the RI designation, which provide employers and clients with instant confirmation of advanced levels of education and experience.

Dave Allen, RI

Newsletter_Images/dave_allen.jpgDave has worked in the real estate industry for almost 20 years, primarily in the private sector as a Mortgage Broker and Investor. He is now working in the public sector and has over 5 years of experience as an Appraiser with BC Assessment - all within the ICI Department. Dave performs market valuations for assessment purposes towards a range of properties, reconciling the cost, income, and DCA approaches on a daily basis. He utilizes mass appraisal techniques for valuation, yet relies on single-property methods for appeals and defense. He works out of the Kelowna office, and is responsible for the North Okanagan and Shuswap areas. He completed his PGCV last December and with his combined on-the-job experience, he is now an RI. 

Welcome Dave.

Member News

Recipient of the 2022 RI Medal of Distinction

Andre Gravelle

Newsletter_Images/Andre_Gravelle_award.JPG“It was an incredible honor to receive this award as it represents recognition among one’s peers of a contribution to the institute and to the real estate community, and this is incredibly valuable to me.  Community building and creating connections to other like-minded professionals is such an important part of the real estate industry and has been among the most enjoyable aspects of being part of the institute.  When I look at that stature of the other award recipients, I am humbled by being considered in this same company. It has been a pleasure and an honor to be recognized by the institute in this way and I would encourage others who share these same values to become active within the institute and reap the many benefits that this opportunity provides.

 The benefits of being a member of the Institute are numerous, but several key benefits stand out.  First, the RI designation is a recognition of a level of education and experience that is well known, understood, and respected within the real estate industry, and provides a valuable level of distinction. Second, it is about gaining access to a network of diverse industry professionals and this helps build your own network as well as creating a sense of community among professionals. It has also provided a way to contribute to the work that the institute does in the interests of its members, the real estate industry and to the public generally.”

Grapes REIBC Grapevine


­The Grand Farewell

As shared on November 18, REIBC will soon be losing our beloved Executive Officer Brenda Southam at the end of March as she is relocating to Saskatoon, SK to be closer to family. Brenda has been essential to the success and at times, the survival of REIBC and has made such a positive impact to the real estate community, REIBC membership, and sixteen different Boards of Governors.

To mark and honour the occasion of her departure, the REIBC Board has arranged two occasions to express their gratitude and appreciation. Events have been planned to afford members and colleagues to connect with Brenda be they in the local Vancouver area or around British Columbia and the world.

Connect with friends and colleagues from around BC and the world at a virtual event from noon until 1:00 pm, March 21 or join us for a prairie-style “Come and Go” open house at the Vancouver Club on March 23 between 2:00 and 4:00 pm!

Register online at by March 15, 2023.

  • Brenda's dream experience is to visit the polar bears in Churchill Manitoba with her brother. For those who wish to personally contribute towards a trip that celebrates her time with the Institute, please donate here.
  • At the enclosed link,, leave a video message or send a note and photo to a keepsake memory book that will be printed and presented to Brenda as a collection of the many memories you’ve shared.

For further information, please contact REIBC


“When Doves Cry” – An Economic and Commercial Real Estate Update – February 2

Newsletter_Images/carl_gomez_headshot_002_.jpgOn Thursday, February 2nd REIBC hosted Paul Richter, RI and Carl Gomez of Costar who gave a great presentation on the economic and commercial real estate update.  The presentation was full of great information. The key takeaways:

  • A consumer-led recession is likely already here – the depth and duration will be dictated by the central bank and whether it engages in a “policy mistake” while trying to restore its credibility 
  • Inflation has likely peaked and could set the stage for the Bank of Canada to become more dovish in 2023 – this is not your father’s stagflation
  • Property sector in a period of adjustment both cyclically and from a secular level. Long term fundamentals work against office but remain highly supportive to industrial.  Outlook for household-driven property types (multifamily/retail)Newsletter_Images/Paul_Richter-2.jpg depends mainly on local/regional demographics and relative supply conditions.
  • Structural challenges are likely to warrant a revaluation of the office sector – this is similar to what occurred in the retail sector several year ago.  But the market is not there yet. 
  • Fulsome industrial valuations can be rationally supported by very strong potential net income growth.
  • There is plenty of capital waiting on the sidelines for real estate – investors are looking for growth as much as yield.  

Thank you to Paul and Carl for your time and your insights.  REIBC has made a donation to the Vancouver Food Bank on their behalf.

We would like to thank Tim Down, RI of Re/Max of Nanaimo for moderating this session on behalf of REIBC. 

Growing Surrey: An Update on Land Use & Employment Planning – February 16

Newsletter_Images/PK_Oct_2020.jpgOn February 16, 2023 REIBC was joined by Surrey City Planner, Patrick Klassen and he discussed all the happenings going on in Surrey.  Surrey expects a population of over 800,000 by 2024 and they are planning to meet that need.  The Regional Growth Strategy is currently being updated and should be approved later this year.  It will be renamed “Metro 2050.”  Surrey has just completed a number of town centre plans and are working on updating the City Centre plan.  The overall premise for these plans is to have residents live within 15 minutes of services.  Currently 23% of Surrey households live within the 15 minutes of services, so they are working to improve that percentage.  The information was very interesting and many questions were generated from his talk.  Thank you Patrick.

We thank Michael Heeney, RI of C+O Advisory for moderating this session for us.

A Housing Outlook – February 23

Newsletter_Images/brendon_ogmundson_headshot.jpgREIBC was pleased to host BCREA Chief Economist Brendon Ogmundson to present at our webinar on February 23rd.  Brenda noted that we are not in a recession today although he does foresee one in the future.  History has showed that when we have a big spike in inflation, we need a recession to bring things back to an even keel.  He shared with us a number of scenarios that he ran noted that monetary policy works exactly the way it is supposed to.  Brendon answered a number of questions from the participants and as always there was a lot of information that he shared with us.  Thanks Brendon.

This webinar was hosted by Mandy Hansen, RI Principal of Insight Specialty Consulting.

REIBC Events

Bytes and Mortar – The evolution of property technology in the real estate sector
Thursday, March 2, 2023 12:00 p.m. – 1:00 p.m.
Register Now

The Grand Farewell – Virtual Event
Tuesday, March 21, 2023 12:00 p.m. – 1:00 p.m.
Register Now

The Grand Farewell – Open House
Thursday, March 23, 2023 2:00 p.m. – 4:00 p.m.
Vancouver Club, 915 W. Hastings St, Vancouver, BC
Register Now

The Workplace Implications of Drug Decriminalization
Thursday, March 30, 2023 12:00 p.m. – 1:00 p.m.
Register Now

Homes Equipped with Gas – What We Need to Know
Thursday, April 6, 2023, 12:00 p.m. – 1:00 p.m.
Register Now

Reconciliation Training – 4 Session Training Program
Wednesday, April 19, 2023 12:00 p.m. – 1:00 p.m.
Thursday, April 20, 2023 12:00 p.m. – 1:00 p.m.
Wednesday, April 26, 2023 12:00 p.m. – 1:00 p.m.
Thursday, April 27, 2023 12:00 p.m. – 1:00 p.m.
Register Now

Career Postings

Managing Broker - Coldwell Banker Kamloops Realty

Board of Directors - Katzie First Nation

Senior Property Acquisition Coordinator - BC Public Service

Property Agent - BC Housing

Building Management Officer II - Vancouver Parks Board

Lands Representative - FortisBC

Lease Analyst - Ministry of Citizens' Services
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Real Estate Institute of British Columbia
RI, the mark of a qualified professional. All rights reserved.
1750 – 355 Burrard St., Vancouver, BC V6C 2G8
Tel: (604) 685-3702