BC Financial Services Authority is the Crown Agency that regulates British Columbia’s financial services sector, including credit unions, trust companies, insurance companies, pension plans, mortgage brokers, real estate service providers, and the Credit Union Deposit Insurance Corporation.
For Real Estate, they provide guidelines for many of the processes in the sale and purchase of real estate such as multiple offer situations.
"If more than one written offer on a specific property is made before the seller has accepted an offer, all written offers must be presented to the seller. The only exception would be if the listing real estate professional has specific written instructions from the seller on the listing not to present particular types of offers. Unless otherwise instructed by the seller, the listing real estate professional should ensure that any other representative involved knows there will be competitive offers.
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