Misleading Advertising Does Not Pay
BCFSA is seeing an increase in misleading advertising that include unsubstantiated claims like “Ranked #1 in BC” and “Top 1% REALTOR in Van.” The Real Estate Services Act (“RESA”) requires that advertising be current, accurate, and verifiable. So, we thought it would help to share penalties that licensees must pay when they violate advertising rules in B.C.
Did you know that if a licensee breaches B.C. real estate advertising rules, they can receive an administrative penalty of up to $100,000? If BCFSA proceeds to a formal Notice of Discipline Hearing, the licensee can face more fines up to $250,000 for individuals and $500,000 for corporations. Read more here.
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