Seven people named to investigate B.C. real estate flipping

VANCOUVER -- Seven people have been named to an advisory panel created to respond to allegations of real estate contract flipping by some Metro Vancouver property agents.

See Full Article

Lawyer Howard Kushner, Central 1 Credit Union president Don Wright and British Columbia Securities Commission head Audrey Ho are among those who will sit on the panel.

The practice involves agents exploiting an assignment clause that allows them to sell a home multiple times before a deal closes, driving up the final price and stacking up their commissions.

The Real Estate Council of British Columbia announced earlier this month it would create an advisory group to investigate the allegations raised by media reports and Opposition politicians.

Superintendent of Real Estate Carolyn Rogers was appointed chairwoman of the group and tasked with naming its members.

She says the panel will examine the ways the council identifies and responds to licensee conduct that could pose a risk to consumers or that fails to meet the standards expected by the public.

The advisory group members named Monday are:

Howard Kushner, lawyer, Kushner Law Group.

Don Wright, president and CEO of Central 1 Credit Union.

Audrey Ho, commissioner of the B.C. Securities Commission.

Bruce Woolley, lawyer with Stikeman Elliott.

Carol Geurts, associate broker, Century 21 Veitch Realty, Creston, B.C.

Tony Gioventu, executive director of the Condominium Home Owners' Association of B.C.

Ron Usher, general counsel, Society of Notaries Public of British Columbia.



Advertisements

Latest Economic News

  • Flying high: 100,000 pot plants flown from Ontario to B.C.

    Economic CTV News
    Under tight security, 100,000 marijuana plants arrived at Vancouver International Airport Saturday to be cultivated in a network of greenhouses in Langley, B.C. that’s being touted as the largest licensed cannabis production facility in the world. Source
  • Are female-led companies the answer to sexual misconduct?

    Economic CTV News
    NEW YORK -- The Weinstein Co. thought it had found a path to survival. A group of investors led by a respected businesswoman offered to acquire the company, rebrand it and install a female-led board of directors. Source
  • B.C. to appeal NEB ruling on Trans Mountain bylaw

    Economic CTV News
    VICTORIA -- British Columbia's government is appealing a decision that allows Kinder Morgan Canada to bypass local regulations in constructing its Trans Mountain pipeline expansion. The National Energy Board ruled in December that the company is not required to comply with two sections of the City of Burnaby's bylaws, which Kinder Morgan had said were hindering its ability to go ahead with the federally approved project. Source
  • PepsiCo shuts down Alberta Spitz sunflower seed factory

    Economic CBC News
    Thirty years after Spitz sunflower seeds first sprouted in Alberta, the last factory in the province is set to shut down. PepsiCo is closing the Bow Island processing plant in July, and laying off 53 workers from the small community of just 2,000 residents in the process. Source
  • Burnaby seeks appeal over tree cutting permits involving Trans Mountain pipeline

    Economic CTV News
    BURNABY, B.C. -- The City of Burnaby wants to appeal a National Energy Board decision that exempts Kinder Morgan from local land and tree clearance bylaws in the expansion of the Trans Mountain pipeline. A decision by the board last December overruled two sections of the bylaw, which would have required Trans Mountain to have preliminary plans and clearing permits. Source
  • TransCanada's Keystone Pipeline spill cleanup on schedule

    Economic CTV News
    AMHERST, S.D. -- TransCanada Corp. says cleanup of a massive on-shore oil spill from Keystone Pipeline in South Dakota is halfway finished. Last November, the pipeline leaked 210,000 gallons of crude oil onto agricultural land in Marshall County, one of the largest on-shore oil spills in the U.S. Source
  • Canada won't be 'impulsive' responding to U.S. tax cuts, Morneau says

    Economic CBC News
    The Liberal government will not "act in an impulsive way" in response to U.S. corporate tax cuts that economists say pose a threat to Canada's competitiveness, the federal finance minister said after a pre-budget meeting Friday. Source
  • Liberals lay down new rules to end use of coal, natural-gas power plants

    Economic CTV News
    OTTAWA - The federal Liberal government says its new regulations to phase out power plants fired by coal and natural gas will cost more than $2.2 billion, but potentially save the country billions more in reduced health care costs. Source
  • Morneau talks tax cuts, small biz changes with private-sector economists

    Economic CTV News
    Federal finance minister Bill Morneau was tight-lipped Friday about the upcoming budget after meeting with private sector economists, but says among the issues top of mind are the recent U.S. corporate tax cuts. He would not comment on whether tax cuts are in the cards for Canadian corporations to re-establish the country's competitiveness for attracting business. Source
  • Canada won't act in 'impulsive way' in response to U.S. tax cuts: Morneau

    Economic CTV News
    TORONTO -- The Liberal government will not "act in an impulsive way" in response to U.S. corporate tax cuts that economists say pose a threat to Canada's competitiveness, the federal finance minister said after a pre-budget meeting Friday. Source