Vancouver Sun: What we can expect from next week’s real estate report

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June 23 2016 | Joanne Lee-Young

Quoted from the article:

Here’s a look at what different players — including critics and experts who have called out the province’s handling of the housing crisis — predict the report will say.

David Eby, MLA for Vancouver-Point Grey and NDP housing critic

“At a minimum, (the report) needs to underline that (agents) who steal from their clients through fraud need to lose their licences, repay the proceeds, and that the (real estate) council should report their findings where appropriate to the police. The fact that we need a report to say this is disturbing.

Vancouver B.C. February 8, 2016 Uncovered real estate practices --NDP MLA David Eby hosted a news conference alleging fraudulent and "insider" trading practices of some realtors in Metro Vancouver. The allegations includes realtors avoiding paying property transfer tax and capital gains tax. Mark van Manen /PNG Staff photographer see Jennifer Saltman Province /Vancouver Sun News Features and Web. stories. 00041609A [PNG Merlin Archive]

“Unfortunately, this group was not given auditing or subpoena powers, or the resources they needed to hire auditors or investigators. Even worse, the tight timelines mean that they weren’t able to do a full, in-depth assessment of multiple complaint files or examine processes and outcomes. No complainants I know of were contacted by the advisory group to ask about their experiences filing complaints. I’ve heard of only a handful of meetings of the full group.”

“Separately, even if the report is great despite all of these hurdles, I’m concerned that the loss of our superintendent of real estate (Carolyn Rogers, who chaired the group) to a new job in Ottawa means there may not be the continuity we need to ensure the recommendations this report makes are realized through legal changes in Victoria.”

Eby also predicted the report “will address the confusing division of realtor discipline between the (real estate) council and the real estate boards that leaves people with complaints unsure of where to go or how to complain.”

However, he added: “The report will not recommend the end of self-governance for (agents).”

Read the full article: http://vancouversun.com/business/real-estate/what-we-can-expect-from-next-weeks-real-estate-report