Thursday, January 26, 2023

Prime Minister Justin Trudeau’s famous quip, “Because it’s 2015,” made in response to a question about his gender-balanced cabinet, came to mind while I was reading recent news articles about the provincial government’s plans to change the regulatory framework of health care and legal professionals.  

We are, indeed, entering a new era in which regulators and professional associations seem to be taking a more activist stance in the work they do. By characterizing these entities as more “activist,” I mean more “in your face” than they have been.  It’s like riding an elevator with someone during COVID. Remember that? You’d move as far away from them as possible for the duration of the journey. (Some of us still do, COVID or no COVID.) Now, it seems, those who carry the big stick intend to be standing much closer. A clumsy analogy, perhaps. But there’s no doubt that government and public expectations have changed as to how closely regulators should mind a profession’s store. 

Some in the health care professions are questioning the government’s intention to streamline their regulatory entities—as happened in our profession when multiple regulators amalgamated into the BC Financial Services Authority (BCFSA). A part of that was the change to appointing, rather than electing, Real Estate Council members (Council was the regulator at the time). Remember? Some said, “Who better to know where the bodies are buried than those in the know?” Others said, “The fox is in the henhouse. It’s a conflict to have anyone but appointees, detached from the profession, running the regulator.” The health professions are now going through this themselves, five years after we did. It’ll be interesting to watch it all unfold over the next year or two. 

"Of more interest, perhaps, is the notion that regulators should be more aggressive about marking their territory in areas such as private conduct; for example, what professionals do when they’re off the clock. The title of a BCFSA article said as much a few months back: “Off the Clock? Your Conduct Still Counts.” "

It's an article well worth your time. 

BCFSA is a public protection agency. If you’re in the regulatory business, you can take a narrow view and keep your eye on the day-to-day conduct of what the regulated folks are up to but not what they do when they’re off the clock. Criminal and egregious conduct aside, for the past many decades this is how regulators, including ours, have mostly rolled.  

Not anymore. And we’re not alone. There’s a rather famous Canadian psychologist whose recent conduct is being questioned by his profession’s regulatory body for remarks he’s made about the prime minister, as well as other conduct. It will be interesting to see what happens next with this, too.  

There’s more. The idea that private conduct should be regulated for the good of the profession, for public protection, and for the enhancement of the regulator’s reputation isn’t limited just to regulators and the governments standing behind them. It’s also become a trend in the private sector. You’ve probably seen news articles describing employees being sacked for their private conduct. Agree or disagree, it’s a changed world in which we now live. Keep this in mind. 

Which brings me back to my appropriation of the prime minister’s famous quip. It’s 2023: There’s a king tide of increased regulation and closer scrutiny of private conduct heading our way. You may approve, or you may not. But be aware. Poor old King Canute comes to mind. He couldn’t hold back the tide either.

Top tip - two IDRPOs?

A member’s question had me scratching my head this week, and I had to get input from other staff to answer it. The member asked whether co-listing agents with separate representation each had to fill out and have signed an IDRPO form.  

No, they don’t. Two forms could create misunderstandings. One form, signed by both listing agents and all the sellers will do. Since an IDRPO instruction from one seller is binding on all, only one form (containing all sellers’ names with both listing brokerages and both designated agents being identified) is necessary. There are no lines provided for a second brokerage/agent at the moment. Maybe there should be. For now, these can be added on an ad hoc basis. Once completed, the form must then be posted as an associated document.

A bouquet

Congratulations to Esther Wong, Sutton Group, Westcoast Realty, Vancouver. Rhea Se, RE/MAX Westcoast Realty, Richmond, is sending you a bouquet.   

Here’s what Rhea told us:  

Regarding Esther Wong’s listing at 7002 Halifax Street. Our experience with this listed property is as follows: open house on Sunday, final price confirmation on Monday, sellers’ lawyer’s approval on Tuesday, offer acceptance on Wednesday. 

This incredibly quick path from offer to acceptance can be credited to Esther on multiple levels: 

  • Her professionalism in helping her clients with good pricing, staging, and acting in the best interests of her own clients given their unique personal situation. 
  • Quick communication with all involved parties. 
  • Showing empathy to her clients as well as my buyers during the course of the price negotiations. 
  • Being a nice, decent person. Esther lives in the neighbourhood of this listed property, and my buyers specifically said that they would like to be neighbours with someone as nice as Esther. 

My buyers called Esther "a dream to work with," and based on my four days of negotiating with her, I agree. 

Another REALTOR® commented to me that no Realtor would take the time to write long feedback emails to each other as time is money and one ought to be doing other important things in their spare time. I beg to differ, so I purposely searched for Sutton West Coast Realty's website, phoned the receptionist, asked for the managing broker's email, and have written this email commending Esther. This is an indication of how much I appreciate working with Esther on this deal!

Here’s what Esther Wong said in reply: 

The positive interactions between Realtors for the benefit of their clients do not get enough attention during these times. Ethical and respectful cooperation between Realtors is so vital to our profession. I could not have achieved success in this deal without her. 

Rhea exhibited exemplary professionalism and interpersonal skills while working on this deal with me. Her communication was prompt, concise, and kind. She showed a high degree of cooperation and understanding throughout the process. Rhea represented her clients and conducted herself with the highest degree of integrity. The success of this deal was in no small part due to her conduct. Her ability to hold a positive perspective in her life and work is something that we should all emulate. She is a pleasure to work with and I hope we work together again in the near future. 

Congratulations to both of you!