Changes to the Real Estate Services Act to increase oversight of the real estate industry and enhance consumer protection come into force Sept. 30, 2016. The new regulatory framework significantly increases council’s accountability to government and strengthens the overall governance of the real estate profession.
VICTORIA – BC government has appointed Micheal Noseworthy as the new superintendent of Real Estate.
Noseworthy is an experienced regulator and public sector leader, having recently served as a senior government regulator for Yukon. Noseworthy most recently served as superintendent of Real Estate, superintendent of Insurance, registrar of Lotteries and registrar of Medical Practitioners. Prior to that, Noseworthy worked as Yukon’s director of residential tenancies and Employment Standards, and was awarded the Premier’s Award of Excellence for his work as part of the team that developed Yukon’s first-ever Housing Action Plan. His appointment takes effect Oct. 19, 2016.
“I look forward to drawing upon my experiences as both a regulator and a lawyer with experience in real estate and administrative law to serve the interests of British Columbia’s real estate consumers by working swiftly to implement the reforms initiated by the government,” Noseworthy said.
Noseworthy has worked as a lawyer in private practice in Newfoundland and Labrador prior to his work with the Government of Yukon, in a practice that included real estate law and administrative law. He received both his law degree and a bachelor of arts in political science from Dalhousie University.
Changes to the Real Estate Services Act to increase oversight of the real estate industry and enhance consumer protection come into force Sept. 30, 2016. The new regulatory framework significantly increases council’s accountability to government and strengthens the overall governance of the real estate profession.
The amendments transfer rule-making powers from the Real Estate Council to the superintendent of Real Estate and enable an enhanced oversight role for the superintendent. Maximum penalties for real estate licensee misconduct are also increased.
Additional resources have been allocated to the new Office of the Superintendent of Real Estate to ensure it is well-prepared to fulfil its role. The Real Estate Council will continue to be responsible for licensing, licensee and public education, investigation of licensee conduct and licensee discipline.
The Province has ended self-regulation of the real estate profession by replacing the 13 elected licensees with government-appointed members. Government is in the process of completing those appointments.
The creation of a dedicated superintendent of Real Estate and the legislative amendments are the result of ongoing actions by government to strengthen the regulatory framework for real estate professionals, and better protect both buyers and sellers of real estate. Many of the changes flow from recommendations made by the Independent Advisory Group, established by the Real Estate Council of B.C. earlier this year.
