The real estate market in British Columbia has long been a driver of our province's economy and, in 2005, the province enacted the Real Estate Development Marketing Act ("REDMA") to more heavily regulate this market. While the consumer protection aspect of this legislation has been lauded by some, the practical implementation of REDMA has not always resulted in the efficient and profitable operation of the real estate development sector. In response to these criticisms, the province has amended REDMA, effective May 29th, 2014, to address some of the shortcomings of this legislation.
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