The British Columbia Real Estate Board's (BCREA) Quality of Life approach involves finding balance among the five principles, aligning the association’s goals with those of the government and the public, establishing alliances with other organizations and supporting positions and recommendations with research.
Ensuring economic vitality
In February 2007, the provincial government adopted a recommendation BCREA made in September 2006 to raise the Property Transfer Tax exemption threshold to $375,000 province-wide to enable more first-time homebuyers to qualify. The exemption threshold was increased again in February 2008 to $425,000. Every home sold stimulates significant economic activity in communities.
Providing housing opportunities
In April 2006, BCREA called for: the introduction of a public consultation process to help expand housing options for everyone, revision of the Property Transfer Tax, and lobbying of the federal government to keep its campaign promises and provide incentives for private sector investors to help stimulate construction of rental housing.
With the Real Estate Foundation of BC and others, BCREA co-sponsored The Canadian Real Estate Association’s participation in the 2007 Canada Mortgage and Housing Corporation’s BC Aboriginal Housing Symposium. As a result, CREA produced a research paper entitled, Building Aboriginal Home Ownership in Canada.
BCREA co-sponsored the Canadian Housing and Renewal Association’s 40th Annual Congress in Vancouver in 2008. This organization is dedicated to making housing a priority with Canadians, convincing governments that housing is a sound investment, shaping the housing agenda across the country and helping communities meet housing needs.
Preserving the environment
In October 2007, BCREA, the Real Estate Board of Greater Vancouver and the Canadian Home Builders’ Association of BC delivered a joint pre-budget submission in response to the Minister of Finance’s request for public incentives to encourage the adoption of green practices. The submission’s key recommendation was a pilot program in which a portion of the PTT windfall could be offered as a rebate to purchasers of new homes that meet the Built Green™ BC standard.
Late in 2007, in response to the government’s proposals to green the Building Code, BCREA sought input from its member real estate boards and then struck a working group with the Urban Development Institute and the Canadian Home Builders’ Association of BC to formalize a credible and consistent response from the real estate sector. BCREA supported the government’s direction, but also noted several concerns, suggesting a thorough impact analysis of proposed changes before introducing amendments.
In spring 2008, BCREA created the Green Tool Kit for REALTORS®, a public website offering information about greener buildings and real estate, ratings systems, rebate programs and benefits.
Protecting property owners
In 2007, BCREA consulted with its member boards and the Condominium Home Owners’ Association to identify potential changes to the Strata Property Act to benefit owners, buyers and real estate practitioners.
Building better communities
In May 2007, BCREA sponsored the Surrey Board of Trade’s annual Police Awards Dinner. This event provided an opportunity to recognize the important role of policing in communities and to applaud the work of the three real estate boards in the Lower Mainland and their Realty Watch program.
Since May 2007, the Vancouver Board of Trade, Real Estate Board of Greater Vancouver and BCREA have collaborated on a series of public Quality of Life Dialogues, designed to focus on specific actions that could be taken by governments and businesses to improve communities.
The association took a high-level view in 2007 to come to an informed understanding of the range of water issues facing the province. BCREA asked the government to develop and communicate a comprehensive water action plan that addressed flood risks and threats to continued public access to safe drinking water.
In 2008, BCREA focused on threats posed by flooding, asking the government to ensure adequate infrastructure, systems to monitor water levels, emergency response capabilities and communication with stakeholders and all British Columbians.