What We Do
By supporting innovative and progressive solutions, the Foundation’s work contributes to resilient, healthy communities and natural environments. Since launching the grants program in 1988, we have approved more than $75 million for real estate and land use initiatives across the province.
In addition, the Foundation plays a key role in connecting with communities and organizations to open opportunities and share valuable information on land use issues in BC. By supporting collaborative projects that can be scaled and replicated in other communities, we help non-profit organizations to further their progress in building more sustainable communities.
How It Works
Under the Real Estate Services Act, the Foundation receives interest from pooled real estate deposits held in trust by real estate brokerages. The Foundation gives those funds back to the BC community to support real estate related education, research, law reform, and other land related activities intended for the public or professional good.
The Foundation is directed by a Board of Governors, which consists of seven appointed members. The British Columbia Real Estate Association, the Real Estate Council of British Columbia, the Real Estate Institute of British Columbia, and the Union of BC Municipalities each appoint one member. The Minister of Finance (BC government) appoints three members.
Each Governor's term varies according to their appointing body, and they can be appointed for two consecutive terms. The chairperson is elected at the Foundation’s annual meeting in March and serves as chair for one year, from April 1st to March 31st. See our contact page for the current list of Governors.
In 1985 the British Columbia real estate industry, in cooperation with the provincial government, enacted legislation that established the Real Estate Foundation. Under the Real Estate Services Act (BC), our main purposes are “to undertake and carry out real estate public and professional education, real estate law reform, real estate research and other projects intended for the public or professional good in relation to real estate activities.”
While there are parallel foundations across Canada in the legal field, the Real Estate Foundation of British Columbia and the Alberta Real Estate Foundation are the only two foundations of their kind.