Real Estate 101... "BCREA"

Britisg Columbia Real Estate Association

The British Columbia Real Estate Association (BCREA) represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).

To demonstrate the professional commitment to improving Quality of Life in BC communities, BCREA supports policies that encourage economic vitality, provide housing opportunities, respect the environment and build communities with good schools and safe neighbourhoods.

Multiple Listing Service® Sales
REALTORS® helped their clients sell 74,640 homes on the Multiple Listing Service® (MLS®) in 2010, a 12 per cent decline from 2009. Consumers invested $37.7 billion in residential real estate across BC in 2010, down 5 per cent compared to 2009. The average MLS® residential price in 2010 was $505,178, up 8.5 per cent from 2009.

MLS® is a cooperative marketing system used only by Canada's real estate boards to ensure maximum exposure of properties listed for sale.

Economic Impact
A September 2008 study prepared by BCRE's Economics Department found every 100 MLS® residential transactions in 2007 generated nearly $4.2 million in economic output, $2 million in Gross Domestic Product (GDP), 28 full-time equivalent jobs and added nearly $1.3 million to household income in BC. Every 100 MLS® residential sales in 2007 also accounted for nearly $300,000 in federal taxes, $660,000 in provincial taxes and $32,000 in municipal taxes.

Professionalism
REALTORS® are trusted advisors who help consumers make some of the largest purchases of their lives. As professionals, REALTORS® are committed to high standards of customer service, ethics and education. REALTORS® are licensed by the province through the Real Estate Council of British Columbia, as legislated by the Real Estate Services Act.

Every real estate professional who joins a BC real estate board automatically becomes a member of BCREA and of The Canadian Real Estate Association (CREA). These organizations work together to represent REALTORS® on municipal, provincial and national issues, and to provide an array of services. The REALTOR® trademark that identifies a licensed real estate professional who is a members of CREA, and as such to a high standard of professional service and a strict code of ethics.

My business grows by building strong client focused relationships. I would welcome the opportunity to answer any questions about the real estate market that you may have.

If you would like to find out how much your home is worth in today's market, to discuss listing your home or buying a new home, please contact me on (604) 781-5692 or via email - tim@timwray.ca