B.C. home buyers, sellers get new protections with real estate superintendent

VICTORIA – The British Columbia government has appointed a new superintendent of real estate in its ongoing effort to protect home buyers and sellers and boost oversight of the industry.

Michael Noseworthy recently served in a similar role in Yukon, where he was also superintendent of insurance and the registrar of lotteries and medical practitioners.

Noseworthy will start his new job on Oct. 19 and says he’ll draw on his experiences as a regulator and a lawyer to serve the interests of consumers and quickly implement the reforms initiated by government.

The new position is one of a number of steps the government has taken to reform the real estate industry after concerns that speculators and foreign buyers were fuelling the frenzied market in Metro Vancouver.

Premier Christy Clark announced earlier this year that self-regulation of the industry by the B.C. Real Estate Council wasn’t working and that government oversight was needed.

The new regulations increase the real estate council’s accountability to government, although it will continue to be responsible for licensing of agents and investigating their conduct.