The Office of the Superintendent of Real Estate is a regulatory agency of the B.C. government that protects consumers buying homes and enforces the Real Estate Development Marketing Act (REDMA).

REDMA requires developers to:

1. file a disclosure statement (DS) with the Superintendent and start sales after that, not before, and;
2. cease sales after 9 months unless an amendment to the DS that sets out particulars of an issued building permit (BP) is filed.

Most developers can't get a BP until they sell the majority of the homes in the project.

Many developments started selling, then voluntarily closed sales centres in March to protect people working in the industry and the public from the spread of COVID-19. 

But the 9 month clock is still ticking.

Little time remains to find buyers for these homes. The people in the industry want to stay safe and do their part to prevent the spread of COVID-19 but time pressure is building to re-open sales centres and restart sales before the 9-month deadline.  

The Superintendent of Real Estate can grant exemptions from some or all of the legislated requirements including a temporary extension to this 9 month deadline which would relieve the time pressure, allow sales centres to stay closed and prevent the spread of COVID-19.

Seems like a good idea and logical step to take now.

I work in the industry and want to ensure the safety of my colleagues and the community and prevent the spread of COVID-19.