Monday, April 15, 2019

Statement

The Real Estate Board of Greater Vancouver and the BC Real Estate Association partnered with the Appraisal Institute of Canada – BC Association, BC Notaries Association, and the Canadian Mortgage Brokers Association – British Columbia to submit joint recommendations to the provincial and federal governments on April 15, 2019 on how to strengthen anti-money laundering measures in our province.

REBGV President Ashley Smith issued the following statement on these recommendations:

"We want to get beyond speculation and support a robust, evidence-based approach to this issue. If there’s evidence of money laundering in any parts of our communities, including the real estate market, then that information should be identified and those involved should be prosecuted. Our profession is willing to help in any way we can. This is demonstrated in the recommendations that we’ve submitted today with our partners in the real estate sector."
Ashley Smith, REBGV president

Read the submission and news release.

The real estate industry is a key economic driver in British Columbia. In 2018, 24,619 homes changed ownership in the Board’s area, generating $1.7 billion in economic spin-off activity and an estimated 11,720 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $26 billion in 2018.

The Real Estate Board of Greater Vancouver is an association representing more than 14,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR®.

Contact

Craig Munn, Manager, Communication
Real Estate Board of Greater Vancouver
604-730-3146
cmunn@rebgv.org