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New position created to oversee local real estate industry

Last Updated Sep 19, 2016 at 2:21 pm PDT

(iStock Photo)

Micheal Noseworthy has been named as the new superintendent of real estate

VANCOUVER (NEWS 1130) – In an attempt to get a handle on what some have described as an out of control housing market — the provincial government has created a new job for someone to regulate the real estate industry.

Micheal Noseworthy has been named as the new superintendent of real estate.

He’s an experienced regulator having recently served as a senior government regulator for Yukon. Noseworthy most recently served as superintendent of Real Estate, superintendent of Insurance, registrar of Lotteries and registrar of Medical Practitioners.

“I look forward to drawing upon my experiences as both a regulator and a lawyer with experience in real estate and administrative law to serve the interests of British Columbia’s real estate consumers by working swiftly to implement the reforms initiated by the government,” said Noseworthy in a statement.

This summer the government made changes to the Real Estate Services Act to increase oversight of the industry and to enhance consumer protection. These changes will come into effect on September 30th.

The province has ended self-regulation of the real estate profession by replacing the 13 elected licensees with government-appointed members.

This move comes more than a month after the province rolled out a 15 per cent foreign buyers tax to help cool the red-hot market.