There’s a new sheriff in town for B.C.’s real estate industry and he says job number one is restoring consumer confidence.
Michael Noseworthy was appointed Superintendent of Real Estate last month, and started in on the job last week.
LISTEN: B.C.’s new top real estate regulator lays out his priorities
Noseworthy says he’s concerned that some people have lost faith in the industry, and his first job is to restore it.
“People really need to feel like they’re not just paying their realtor to do a transaction for them , but they’re paying their realtor to act with best interests at heart. So I think if there’s confidence in the system, that can play a bigger role in instilling some good practices throughout the industry.”
He says in order to get that done, he’ll be working closely from the 28 recommendations made earlier this year by the Independent Advisory Group, tackling issues like “double ending” where a realtor represents both a buyer and a seller.
“Licensing requirements, the need for a code of ethics, they all have a common theme of we need to do more to protect consumers and British Columbians need to feel like they’re protected when they’re buying or selling a home in this system.”
This summer, the province ended self-regulation of the Real Estate industry after public concern over shady practices.
The move surprised many, going above and beyond the 28 recommendations from the Independent Advisory Group struck to look into the industry.