“Anybody who even reads a few of the decisions of the Real Estate Council of BC will leave shaking their head.”
The NDP’s Housing critic says an interim report by the Advisory Group investigating shadow flipping shows the regulatory body in charge of the real estate industry has been missing in action
The interim report made public yesterday says fines levied for realtor misconduct by the Real Estate Council of BC were woefully inadequate.
Housing critic David Eby says no surprise there.
“They have got realtors who are changing contract commission amounts secretly behind the client’s back. They have got realtors who are pretending that there is an independent buyer when actually the realtor themselves is the buyer. Realtors lying about the values of properties. All of these people get to keep their licenses. It is outrageous. Anybody who reads these decisions is going to come to the conclusion that penalties aren’t sufficient. I think we all knew that.”
Eby says the investigation seems to be going in the right direction but the Independent Advisory Group needs to talk to more people on the ground.
The group’s final report is due at the end of May.