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

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.

Bijan Lalji, RI

Newsletter_Images/Bijan_Lalji_-_Web.jpgBijan began his career in real estate at Avison Young in November 2018. He currently works there as a Financial Analyst & Junior Brokerage Associate though he will be moving into a complete brokerage role on July 1. In his tenure at Avison Young, Bijan has exceled with the Multi-Family & Investment Sales Team completing valuation, due diligence and sales strategies on more than $2 billion worth of completed investment transactions, including the sale of more than 5,000 multi-family units (inclusive of 1,300 brand new units) and more than 30 acres of development land. Starting in July, he will be specializing in rental and strata development land. He believes that he can add value to developers and communities in this new role, and is bullish on the future housing growth across BC, specifically with supply constraints and increasing demand. Bijan is excited to travel again and for the return of in-person meetings. In his spare time, he loves to hike with his dog Dorito.

Welcome Bijan.

Member News

Michael Drouillard, RI

Newsletter_Images/michael_drouillard.jpgOn May 16, 2022, Michael was elected as Real Estate Section Representative to the Provincial Council of the Canadian Bar Association for a two-year term commencing September 1, 2022. The Provincial Council provides a forum for Canadian Bar Association members to learn, debate, and advance the work of the CBA in British Columbia, and plays an advisory role to the CBABC Board of Directors. Michael looks forward to the opportunity to continue his volunteer work with the CBA. Congratulations Michael!

 

Aleksey Nekhoroshev
Newsletter_Images/aleksey_1.jpgNominee member Aleksey Nekhoroshev came to Canada a year ago striving for new endeavors and career opportunities. He graduated from the BCIT Professional Real Estate Program in 2021 with Distinction and now joined Central Walk Tsawwassen Mills Property management team as the Leasing Coordinator. REIBC congratulates Aleksey for his hard work and dedication to the profession and look forward to him becoming a professional member in the near future. We’re hoping as well that his wife and daughter will join him here in Vancouver in the near future.

 

Grapes REIBC Grapevine

Grapes

2022 REIBC AGM

This year, REIBC will be holding its AGM virtually. Members can attend no matter where in the province or country they are. It will be held at noon on June 15th and you will need to register in order to attend. Register now.

Following the AGM, there will also be a Member Meeting. This meeting will be an opportunity for members to hear from REIBC President Keith MacLean-Talbot and the REIBC Board of Governors. Please stay on the call after the AGM to be updated on the happenings of the Institute!

Job Postings

The REIBC site has become a hub for career opportunities in the real estate industry. Recently, the number of postings listed on the site has grown substantially, and we are happy to showcase these openings to our designated, educated, experienced and connected members. Members benefit enormously from receiving these postings in their inboxes, and some have even embarked in new opportunities as a result. Check out the postings below or go directly to our Career Opportunities page on our website; your next career move is waiting for you!

Webinars

Overview of REIBC’s “Working with Reconciliation” May Webinar Series by Nicole Olenick, RI, RPP

Newsletter_Images/Solomon_Alternate_Headshot.jpgDuring May 2022, I attended REIBC’s four-part, lunch-hour webinar series called "Working with Reconciliation.” These sessions were led by Solomon Reece-Brass. Soloman is Anishinaabe, Tsimshian, and Gitxsan, and he is from the Key First Nation.

Sharing both personal and professional stories and experiences, Solomon provided relatable and helpful insight for those working in real estate development and land use planning who are interested in Reconciliation, inter-cultural engagement, community engagement, and the meaningful inclusion of Indigenous voices, cultures, knowledge, and values.

Some of the many lessons that I was grateful to learn from Solomon include:

  • Look for opportunities to learn about local First Nations on an ongoing basis, such as attending Indigenous events open to the community, rather than waiting until a project that I am working on creates a need to connect.
  • When meeting new people in an Indigenous context, start by sharing information about my roots and ancestors rather than starting with a project-based “ask”. Share information with each other about where you grew up and where your parents and grandparents are from.
  • One guiding principle for collaborative work is called Two-Eyed Seeing, meaning learning to see the world with two perspectives – both the strengths of Indigenous knowledge and ways of knowing and the strengths of Western knowledge and ways of knowing. This is similar to naturally trying to understand and respect the traditions, rituals, and practices at a friend’s house or in another country when visiting.
  • Relationships work best when they are based on reciprocation. Consider what you can offer others, particularly when you are asking for something.

Much appreciation to Solomon and REIBC for this practical and insightful series.

 Newsletter_Images/nicole_olenick.jpg

Nicole Olenick is a Principal of Coriolis Consulting Corp., a boutique real estate and city planning consulting firm in Vancouver. 

REIBC Events

Combatting Money Laundering in BC Real Estate
Thursday, June 2, 2022 12:00 p.m. – 1:00 p.m.
Register Now

Members of CCIM, MIABC OR REIC have access to REIBC webinars for free.

2022 AGM
Wednesday, June 15, 2022 12:00 p.m. – 1:00 p.m.
Register Now

Save the date:
Awards Ceremony 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

BCFSA’s report, Enhancing Consumer Protection in B.C.’s Real Estate Market, was released on May 26, 2022. It contains a suite of advice on potential parameters of the Government’s proposed homebuyer protection period, commonly referred to as the cooling-off period, for residential real estate sales, as well as advice on additional measures to increase consumer protection. 

Background

On November 4, 2021, the Minister of Finance announced that the Government would implement a homebuyer protection period. Minister Robinson tasked BCFSA to consult with key stakeholders and experts. She called for BCFSA to report back with advice on potential parameters of a homebuyer protection period, as well as additional measures to strengthen protection for homebuyers.

BCFSA’s report was developed following an in-depth consultation process and with input from a wide range of participants.

On April 25, 2022, the Government passed Bill 12, amending the Property Law Act to enable the creation of a homebuyer protection period.

Brief Overview of Advice to Government

Parameters for a Homebuyer Protection Period

  • Three clear business days.
  • Non-waivable.
  • Narrow exemptions.
  • A modest termination fee to address the risk of frivolous offers.
  • Consider requiring disclosure of other active offers by prospective buyers.
  • Reasonable access to the property for the buyer to conduct due diligence activities such as home inspections or confirmation of financing.

Additional Pre-Offer Period

  • In addition to a homebuyer protection period, establish a five-business-day pre-offer period— the minimum time a property can spend on the market before any offer can be accepted.
  • To further enhance transparency, require property disclosure forms, including key strata documents, be made available to prospective buyers at the time of listing or offer for sale.

Transparent Bidding Process

  • Further explore open-bid, open-end auctions, including identification of the implications of open-bidding in B.C.’s real estate market.
  • Consider implementing a disclosure of the number and price of offers where a buyer is asked to revise their offer in a multiple bid situation.
  • Require the inclusion of standard optional clauses related to financing, home inspection, insurance, and legal advice in the contract of purchase and sale.

Enhanced Disclosure Post-Sale

  • Require that sellers make an anonymized disclosure of offers to all prospective buyers who submitted an offer

To learn more and view the report, please visit BCFSA's website.

Career Postings

Property Services Agent - District of North Vancouver

Educational Consultant - UBC Sauder Real Estate Division

Senior Real Estate Specialist - Vancouver Fraser Port Authority

Real Estate Specialist - Vancouver Fraser Port Authority

Senior Property Tax and Valuation Specialist - Vancouver Fraser Port Authority

Project Coordinator – Strategic Land Programs - Vancouver Fraser Port Authority

Asset Manager - McDermott + Bull Canada

Property Agent - BC Housing

Property Coordinator 2 - BC Hydro

Senior Portfolio Administrator - Ministry of Forests

Senior Portfolio Administrator - Ministry of Forests

Property Coordinator 1 - Junior Paralegal - BC Hydro

Capital Project Director - Vancouver Art Gallery

Property Representative 1 - RRS - BC Hydro

Property Coordinator 2 - PRS - BC Hydro
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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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