Earlier this year, we announced changes to our Medallion Club policies to align with the BC Financial Services Authority’s (BCFSA’s) new definitions and structures for real estate teams. 

Under these new rules, all real estate teams must register with BCFSA. You’re considered a team if you engage in a business practice as a group of two or more licensees from the same brokerage in a way that would imply an agency relationship with clients.

To be eligible for the REBGV Medallion Club team category, teams will need to be comprised of a minimum of two REBGV licensees within the same corporate brokerage, which could include different branch offices. 

These new rules also remove the role of team leader. All REBGV Medallion Club teams will simply have a team name and team members.

No. Under the new rules, team members will now only be eligible to qualify as a team member with their qualifying team.

The new Medallion teams rules mean that team members can no longer qualify in the individual category, nor accrue Medallion “years”. 

We will, however, make a one-time exception in the 2023 qualifying year to recognize team members who achieve a Medallion milestone designation under the previous rules. A milestone designation is defined as any 5-year designation, i.e., 5-year qualification, 10-year, 15-year etc.

Please note that starting in the 2024 qualifying year, if you’re on a team, you can only qualify for Medallion Club with your team. Only members who aren’t part of a team will qualify for Individual Medallion Club status.

Update your team status with BCFSA. Once your team shows on BCFSA’s website, email us at sales@rebgv.org or call 604-730-3010 to let us know. We’ll verify with BCFSA and update your profile.

• Read our FAQ
• Read BCFSA’s FAQ
• Real Estate Teams Regulatory Information
• Real Estate Teams Guidelines

Email sales@rebgv.org.