It was announced last month by the Provincial Government to end self regulation of the Real Estate Council of BC. The Government will appoint a new Superintendent of Real estate to take over all rule making and regulation duties.

One recommendation that may have a dramatic effect is suggesting all offers in a multiple offer situations be registered with the listing agents brokerage, where they can be viewed by the new regulator if need be. In Vancouver's hot market, buyers in bidding wars have no way right now to verify if the selling Realtor does indeed have competing offers or the number of competing offers. Eventually all offers should be posted electronically, in real time, so buyers can review all the bids.