REIBC - The Real Estate Institute of British Columbia E-Newsletter
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March 2021

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.

We are pleased to introduce you to Paul Richter, RI

Paul Richter

In 1998 I began my career at Royal LePage Commercial, now Cushman Wakefield, in their Surrey office. Starting out in research, I supported brokerage and marketing while gleaning as much info from a great crew of brokers and staff in that office. From there, I was an industrial sales/leasing broker in Surrey and Langley for a couple of years.

I’m currently at CoStar Group, as Director of Market Analytics Western Canada. I work closely with the economics, analytics, research and sales departments, reinforcing that a local perspective is present in the analytics and general market reporting.

I enjoy working with clients and forging relationships in the industry. Honestly, it is that simple. I came into the industry just as technology was beginning to be adopted. To have been part of the CRE data scene for nearly 20 years has made me really appreciate how a solid team, consistency, and good industry relationships makes for good data.

I decided to apply for my RI designation in the Summer of 2020. I have always been impressed with RI’ers when I met them. Also, since being welcomed aboard, every member that I have met has been very supportive and welcoming. It just feels like a really good group of real estate people.

I am a born-and-raised westcoaster. I grew up in Pitt Meadows and on Bowen Island. Married with children, dog person, and raving fan of UniverCity at SFU, which I call home. If you see a blue VW van rolling through town, with a mountain bike on the back, say hi.

Welcome Paul!

Member News

CoStar Power Broker Awards – 2020

Sebastian Espinosa

Sebastian Espinosa, RI wins Top Industrial Leasing Broker in the Vancouver market for his 3rd consecutive year. Congratulations Sebastian.

This award is to recognize and celebrate commercial real estate’s top brokers and firms in the United States and Canada.

Each year Commercial Real Estate Professionals have the opportunity to submit their closed sale and lease transactions to be considered toward the Annual Power Broker Award. These sales are then analyzed by CoStar to identify winners in each market (based on cumulated deals: SF + PSF). These awards are recognized as the premier industry awards, both the firms and brokers have the opportunity to obtain this recognition which places them among the industry elite.

As Sebastian is an RI, we are fully aware that he is among the industry elite.

Scholarship Awarded

REIBC’s Bob Mikitka Award is at BCIT and is awarded through the Professional Real Estate Advanced Diploma Program. The Graduating Achievement Award is for a student completing the program with a combination of high academic standing, leadership, service and best all-round performance as selected by the faculty. The 2020 recipient is Rhys Cameron and received just under $2000. Here’s what Rhys had to say about receiving the award.

Rhys Cameron

“I am honoured to have been chosen for the Bob Mikitka award, there were many deserving candidates in my class who have gone great lengths in terms of their efforts during the program. After some time off with family, I have temporarily paused my job search due to the current pandemic. In the meantime, I will be continuing my education through BCIT part time studies, while working at my family business until new opportunities arise.”
Best regards,
Rhys Cameron

Grapes REIBC Grapevine

Grapes

REIBC Elections

Step one in REIBC election is nominations. Forms were sent out on March 23, 2021 to those professional members in districts where elections will be held this year. Deadline for returning them is April 22, 2021.

REIBC adds to ProSeries

Watch your inbox in the next few weeks as we add two more awesome professionals to our ProSeries. Daniel Jones, RI owner of Campbell & Pound and David Podmore, RI Chair of Concert Properties will be on line in the next few weeks. Here’s the trailer for this great series.

Webinars

April 1, 2021 12:00 Noon – 1:00 p.m.
Land Titles – An Overview
Register here

April 22, 2021 12:00 Noon – 1:00 p.m.
Member Meeting
Register here

April 21, 28, May 5, May 12, 2021 12:00 Noon to 1:00 p.m.
An Introduction to Indigenous Relations in British Columbia
More information and Registration here

Industry News

Land Titles & Survey Authority

Notice: Title Fraud Involving Owners Living Abroad

Real estate professionals are reminded to follow best practices to avoid title fraud. The Land Title and Survey Authority of British Columbia (LTSA) is aware of two attempts at title fraud, one of which was successful, both involving fraudsters impersonating registered owners who live abroad.

In both cases, the property managers responsible for renting the homes took instructions from the fraudster from different phone numbers and email addresses than those authorized by the owners, and shared documents that enabled the fraudster to better impersonate the owners.  Both properties were listed for sale by realtors who accepted a scanned copy of a forged passport to verify the identity of the supposed owner.  In one case, an unsuspecting legal professional retained by the fraudster impersonating the registered owner also relied on a copy of the forged passport to verify the identity of the client, and assisted the fraudster in transferring the title to the property.

To avoid falling victim to these types of scams:

  • Know Your Client – follow the identity verification requirements set out by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and your professional regulatory body.  Forged South African passports were used in both cases, but false identity documents can originate out of any jurisdiction.
  • Be suspicious of requests from clients who live abroad to change any of their communication methods, particularly if asked to change all communication methods at the same time.
  • Be careful of clients who express urgency or provide unusual instructions, such as listing the property for below market value or instructing you to not use traditional marketing methods like Multiple Listing Service (MLS) or ‘for sale’ signs.

Real estate professionals play a critical role in preventing title fraud.  With your continued vigilance and compliance with professional standards, title to BC’s private real property will remain secure.

Career Opportunities

Property Services Agent - District of North Vancouver

Property Valuator - Negotiator 2 - City of Burnaby

Supervisor - Realty and Lands - City of Burnaby

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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
Toll-Free: 1-800-667-2166 Tel: (604) 685-3702 Fax: (604) 685-1026
Email: info@reibc.org


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