VANCOUVER (NEWS 1130) – Changes for Metro Vancouver realtors are on the way, with the maximum fine for those caught breaking the rules now being tripled.
But with housing prices rising out of control, one politician thinks the punishments don’t go far enough.
NDP’s Housing Critic David Eby says the change is an important start, but is just a drop in the bucket.
He says only last week he heard from someone in his constituency that said they were almost defrauded of $1.5 million by a dishonest realtor.
“When you hear the kinds of numbers that are available, fraud that is perpetuated often against older people, I think really what we need to be looking at is pulling licenses of these realtors and making sure that they pay back all of the amounts that they fraud people out of.”
The Real Estate Board of Greater Vancouver voted overwhelmingly last week to increase fines to $30,000 for misconduct.