REIBC - The Real Estate Institute of British Columbia E-Newsletter
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July 2022

Member News

Ken Hollett, RI

Newsletter_Images/Ken_1.jpg“I graduated from UBC in 1980 with a Bachelor of Commerce in Finance and Urban Land Economics.  I thought that would lead to a career in mortgage lending, but mortgage rates were 18% and there was no money to lend!  I thought I would give real estate appraisal a try.  42 years later, I have decided to retire from the commercial appraisal business!

In 1980, appraisers only used computers for word processing, and there were “dumb” terminals with dial-up modems to access the Real Estate Board.  MLS sales were printed in Hotsheets and in listing catalogues delivered to Board members. Teela reported commercial property transactions, printing them on 4” x 5.5” cards that we could sort and file. There were no pictures with Teela, so it was necessary to inspect our comparables. Since then, we have progressed to widely available online sources of market information, and consequently clients are much more knowledgeable now. But I learned at the beginning that valuation must reflect the thought processes of purchasers, and there is no replacement for talking to those active in the market to understand exactly what factors affected price and what the parties were thinking. It is also still important to drive the area around the property to understand the structure and trends of the neighbourhood.

When I started, I did not know how important it was to join a company that would provide a good mentoring experience. That is still important. As I embarked on the next stage of my career, I adopted an "open door" policy of sharing information and ideas with any appraiser, regardless of where they worked. I feel that if we help each other out to produce better appraisals, then that helps the image of the profession overall. While many appraisers are now working from home, there is benefit to being able to discuss appraisal problems with colleagues, and that is just easier to do in an office environment.

For over 20 years now, I have been reviewing work product of candidate appraisers, providing constructive comments to supplement their mentoring experience and help them become better appraisers. We can now provide more data and analysis than years ago, but it is still important for the appraiser to describe the thought processes they went through to arrive at their value conclusions.

While I am retiring from fee appraisal, I will be continuing to volunteer my time and pay back to the profession that provided me with such a challenging and rewarding career.”

Mona Murray, RI

Newsletter_Images/m_murray.jpgMona Murray, RI has become the Managing Broker of Coldwell Banker Kamloops Realty as of early July 2022.  Mona moves from her own company MCM Real Estate to manage the brokerage that gave her the in real estate.   Mona has been a member of REIBC for 36 years. She notes that you get back what you put in, so don’t hesitate to step up to be a volunteer on a committee. 

REIBC wishes Mona well in this exciting new position.

Clayton Olson, RI

Newsletter_Images/c_olson.jpgBasin Uranium Corp. is pleased to announce the appointment of Clayton Olson to its Board of Directors. Mr. Olson will act as an independent director and is expected to serve as a member of Company's audit committee.

Mr. Olson is a seasoned business professional and currently serves as an Associate Director with Altus Group, specializing in property tax consulting, real estate appraisal and tax appeal advocacy. Prior to joining Altus Group at the beginning of 2022, he spent 11 years in a variety of roles at BC Assessment, specializing in the appraisal and appeal defense of large industrial, commercial and investment properties. Mr. Olson currently sits on the Board of Governors for the Real Estate Institute of BC, where he serves as Secretary Treasurer. He received his BBA from Thompson Rivers University, and later received his Post Graduate Certificate in Property Valuation from University of British Columbia. Congratulations Clayton!

Grapes REIBC Grapevine

Grapes

Board News

Newsletter_Images/keith_and_susan.jpgAs July arrived, we welcomed a new Board of Governors. REIBC welcomes Cindy Nesselbeck as our new President, Geoff Radtke as President-Elect, Clayton Olson as Secretary Treasurer and Keith MacLean-Talbot as its Past President. Also on the board of governors are the following professional members of the Institute that let their name stand to guide REIBC in the future: Jon Burbee, Umesh Chand, Joanna Dlin, Rob Greene, Tina Lee, Sean McGinnis, Mona Murray, Clayton Olson and Edwin Yan. We Welcome Joanna to our board, who is a new addition this year.

At the beginning of the month, we presented the outgoing Board members with their gifts. Susan Antoniali receiver her gold ring, portfolio and certificate of recognition, and Keith MacLean-Talbot received his pen and photos of the board he chaired over his tenure. Thank you to Susan and Keith for their dedicated service to the Institute.

REIBC’s New Piece of Research

With help of professional member Bruce Turner MBA RI, HCA, REIBC recently released a new piece of research titled Whither BC’s Shifting Nexus of Climate and Fossil Fuels. This research explores Canada’s ongoing energy transition and how it may shift in response to global conflicts. While the climate crisis has put the future of the oil and gas industry into question, energy remains a critical part of Canada's economy. With global conflicts such as the war in Ukraine arising, how effectively are Canada's short and long-term objectives being adjusted to reflect ruptures in the global order? How might these impact BC’s economy and related property markets? Is it possible for Canada to steward its resource development and still meet its ambitious climate objectives? How realistic are these goals when other nations are focused on monetizing natural resources as rapidly as possible?

Tell us what other topics you would like to see researched by responding to our survey.

2022 Annual Report

The 2022 REIBC Annual Report has been made available on our website and can be viewed here.

Webinars

Steve Saretsky Talks Real Estate – July 14

Newsletter_Images/steve_saretsky_-_Copy.jpgOn July 14th, REIBC was pleased to host Steve Saretsky, realtor, author behind one of Vancouver’s most popular real estate blogs and host of the online series “The Saretsky Show”. His presentation delved into the current state of the market, from the trends seen during the COVID years to what he foresees for the next year. In particular, he spoke about the consequences of the recent interest rate increases. He spoke about how these increases will impact the mortgage market as well as inventory. Steve answered many questions from viewers and initiated an important discussion about current and future market trends.

We thank the Real Estate Foundation of BC for their support.

REIBC Events

Housing Update
Thursday, September 15, 2022 12:00 p.m. – 1:00 p.m.
Register Now

Current State of the Hotel Industry in BC
Thursday, September 22, 2022 12:00 p.m. – 1:00 p.m.
Register Now

Awards Gala and Diamond Anniversary Celebration
Thursday, October 27, 2022
More information coming soon!

2022 Presidents’ Luncheon
Thursday, December 8, 2022
More information coming soon!

Industry News

PIBC Announces Winners of 2022 Awards for Excellence in Planning

The Planning Institute of British Columbia (PIBC) is excited to announce the winners of this year’s Awards for Excellence in Planning & Individual Achievement, as well as the recipients of its annual Student Fellowship Award.

The Institute annually recognizes the professional work and individual accomplishments of members across British Columbia and Yukon through its awards and recognition program. The Awards for Excellence in Planning & Individual Achievement honour the best in professional planning work undertaken by members.

The 2022 PIBC Award winners were announced and recognized during the Elevation 2.0 National Planning Conference (July 5 - 8), co-hosted by PIBC with the Canadian Institute of Planners (CIP) in Whistler, BC. This was the first in-person conference and awards presentation held since 2019, as the past two ceremonies were virtual and held online due to the COVID-19 pandemic.

PIBC also celebrated the recipients of this year’s Annual Student Fellowship Awards which provide funding to support selected university planning student members so that they may attend and present their academic work or research to professional colleagues as part of the program at PIBC’s annual conference.

For the complete announcement and the list of winners, please visit PIBC’s page.

Appointment of the new Dean of the UBC Sauder School of Business

UBC recently announced that Professor Darren Dahl has been appointed as the new Dean of the UBC Sauder School of Business for a five-year term, commencing on August 1, 2022.  Professor Dahl has been with UBC since 2002 and has held numerous Senior Associate Dean positions since 2012 (e.g., Senior Associate Dean, Faculty and Research; Senior Associate Dean, Faculty; Director, Robert H. Lee Graduate School; and most recently, Senior Associate Dean – Special Projects (COVID Response)).  The full details can be found here: Appointment of the new Dean of the UBC Sauder School of Business | Vice President Academic.

Manufactured Home Park Owners Alliance Search for New Executive Director

After eight and a half years, the Manufactured Home Park Owners Alliance and Al Kemp & Associates have mutually decided to end their service contract. Al has been an effective builder and educator in our organization and has been responsible for many improvements in the industry. This means that the MHPOABC Board is now preparing to begin a search for a new Executive Director. In the interim the Board members will collectively maintain MHPOABC’s services to the membership.

Career Postings

Educational Consultant - UBC Sauder Real Estate Division

Property Management Agent - TransLink

Vice President, Asset Management - BentallGreenOak

Property Coordinator 1 - BC Hydro

Property Officer II - City of Kelowna

Property Valuator Negotiator 1 - City of Burnaby

Property Acquisition Coordinator - Ministry of Transportation and Infrastructure

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Real Estate Institute of British Columbia
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1750 – 355 Burrard St., Vancouver, BC V6C 2G8
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Email: info@reibc.org


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