BC compliance, grounded in RESA and BCFSA
RuleCheck covers BC's full regulatory framework — the Real Estate Services Act, BCFSA's Professional Standards Manual, the near-ban on dual agency, disclosure obligations, and strata compliance.
Regulatory framework
What governs real estate in BC
BC real estate is governed by the Real Estate Services Act and administered by BCFSA. The Professional Standards Manual sets out detailed conduct obligations, and FINTRAC requirements apply to all licensees.
Real Estate Services Act (RESA)
BC's primary real estate statute, governing licensing, conduct, and consumer protection for real estate professionals.
Professional Standards Manual
BCFSA's detailed professional conduct rules — the primary reference for day-to-day compliance obligations in BC.
FINTRAC Requirements
Federal anti-money laundering and terrorist financing obligations that apply to all BC real estate licensees.
Strata Property Act
Governs strata properties in BC — relevant to disclosure obligations, depreciation reports, and strata document review.
Key compliance areas
What RuleCheck covers for BC
Representation and agency
BC's rules on buyer and seller representation, limited dual agency (near-ban), and the disclosure obligations that apply to each relationship.
- Buyer and seller representation rules
- Limited dual agency near-ban
- Disclosure of representation
- Designated agency option
Disclosure obligations
What must be disclosed under RESA and the Professional Standards Manual — including material latent defects, conflicts of interest, and remuneration.
- Material latent defect disclosure
- Conflict of interest disclosure
- Remuneration disclosure
- Referral fee disclosure
FINTRAC compliance
Client identification, receipt-of-funds, third-party determination, and risk assessment obligations for BC licensees.
- Client identification records
- Receipt-of-funds forms
- Third-party determination
- PEP and HIO checks
- Risk assessment records
Dual agency rules
BC's near-ban on dual agency — when it is permitted, what must be disclosed, and the strict consent requirements that apply in the rare cases where it is allowed.
- Near-ban on dual agency
- Permitted exceptions
- Written consent requirements
- Disclosure obligations
Strata compliance
Obligations when dealing with strata properties — including depreciation reports, Form B, strata document review, and disclosure to buyers.
- Depreciation report disclosure
- Form B requirements
- Strata document review
- Special levy and bylaw disclosure
Advertising rules
BCFSA's advertising requirements — including brokerage name display, team advertising, and social media compliance.
- Brokerage name requirements
- Team advertising rules
- Social media compliance
- Designation and credential use
From the Blog
BC Compliance Guides
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