Monday, April 15, 2019

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.

Read the April 15, 2019 submission and news release.

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

The submission makes five recommendations to government and suggests best practices for practitioners operating across the real estate sector.

This submission further demonstrates the real estate profession’s commitment to addressing money laundering concerns and ensuring there's full confidence in the real estate market.