FICOM Consumer Alert May 2016

Katherine Martin • May 6, 2016

Attempts to sell your own property online may be targeted by unlicensed operators

The Office of the Superintendent of Real Estate is warning homeowners who advertise their own properties for sale online that they may be approached and offered real estate services by individuals who are not licensed to provide those services under the Real Estate Services Act (Act).

For example, homeowners advertising their own properties using free online classified advertising services such as Kijiji, Craigslist, Castanet, Prop2Go, and OKHomeSeller have been offered assistance by unlicensed individuals in marketing the property, arranging viewings, and reaching potential purchasers. The unlicensed activities are known to have targeted the Okanagan region.

The unlicensed real estate services have also been promoted through websites including canadapropertyguys.com, commissionfreesystems.com, ispeedprivatelending.com, and realestatecouncilofcanada.ca. The Real Estate Council of Canada is not a government office or regulatory body. These websites and related parties are the subjects of an application by the Real
Estate Council of Alberta for a civil court injunction to halt unlicensed real estate services. A hearing is scheduled in the Court of Queen’s Bench of Alberta on June 7, 2016.

Unlicensed real estate services providers may charge opportunistic fees and commissions, and expose consumers to other forms of misconduct. They are not required to carry errors and omissions insurance, manage funds through trust accounts, meet educational and professional standards, and are not subject to regulatory oversight by the Real Estate Council of British Columbia.

Protect Yourself

Ask questions.  Seek information from potential purchasers, including their full names and contact information.

Do Your Research.  Before working with a real estate services provider, check whether they are licensed by visiting the Real Estate Council of British Columbia’s website.

Check Online Ads.  Ensure that your online for-sale-by-owner advertisement and pictures have not been copied into another marketing website to divert potential purchasers to an unlicensed broker.

Be Vigilant.  Consumers are encouraged to report improper advertisements to the website host and suspected unlicensed real estate services to the Office of the Superintendent of Real Estate (604-660- 3555, 1-866-206-3030, RealEstate@ficombc.ca)

Katherine Martin


Origin Mortgages

Phone: 1-604-454-0843
Email: kmartin@planmymortgage.ca
Fax: 1-604-454-0842


RECENT POSTS

How to Legally Assign a Construction Mortgage

By Katherine Martin • September 23, 2026
Why More Mortgage Options Matter—Especially for Assignment Purchases One of the biggest advantages of working with an independent mortgage professional is access to choice. Instead of being limited to one lender and one set of products, mortgage brokers work with multiple lenders—each with different guidelines, risk tolerances, and mortgage solutions. That flexibility becomes especially valuable when your situation doesn’t fit neatly into a “standard” box. A great example of this is purchasing new construction through an assignment contract . Why Assignment Purchases Can Be Challenging Assignment purchases are often viewed as higher risk by traditional lenders. Rather than declining these deals outright, many lenders quietly make them difficult by adding layers of conditions, restrictions, or uncertainty. This can lead to delays, frustration, or financing falling apart late in the process. The Good News There are lenders—available exclusively through the broker channel —that have clear, favourable policies for assignment purchases. With the right lender and proper planning, these transactions are absolutely doable. Typical Financing Requirements for Assignment Purchases While every situation is unique, many lenders that allow assignment financing look for the following: Standard purchase qualification, including income verification, credit, and down payment Assignments accepted at either the original purchase price or current market value Minimum 620 credit score , with no prior bankruptcies or consumer proposals The full down payment must come from the purchaser —seller incentives cannot be used Required Documentation To secure financing, lenders typically require: The original purchase agreement signed by all parties The MLS listing (if applicable) The assignment agreement signed by the builder, original purchaser, and new buyer Any side agreements outlining changes to the purchase price A full appraisal to confirm value This list isn’t exhaustive, but it highlights that while assignment purchases require more coordination, they are very achievable with the right lender and guidance. Final Thoughts Assignment contracts can open doors to great opportunities—but only if your financing supports the transaction. This is where access to multiple lenders and specialized policies makes a real difference. If you’re considering purchasing new construction through an assignment, or if you’d like to explore more traditional purchase options, feel free to connect anytime. I’d be happy to walk you through the mortgage products available and help you choose an option that doesn’t limit your financing possibilities.

Monthly vs. Biweekly Mortgage Payments: Which Is Better?

By Katherine Martin • September 16, 2026
How Mortgage Payment Frequency Affects What You Pay Over Time You’ve probably heard the saying that there are two certainties in life: death and taxes. When it comes to your mortgage, there’s really just one certainty—you’ll repay what you borrow, plus interest. What is flexible, though, is how often you make your mortgage payments. And that choice can have a meaningful impact on how quickly you pay down your mortgage and how much interest you pay over time. The Six Mortgage Payment Frequencies Most lenders offer the following payment options: Monthly – 12 payments per year Semi-monthly – 24 payments per year Bi-weekly – 26 payments per year Weekly – 52 payments per year Accelerated bi-weekly – 26 payments per year Accelerated weekly – 52 payments per year Standard Payment Frequencies The first four options are designed to align with how you get paid. For example: Paid monthly? Monthly mortgage payments may make sense. Paid every two weeks? Bi-weekly payments can align nicely with your cash flow. With these standard options, regardless of how often you pay, the total amount paid over the year is the same —it’s simply divided into more frequent payments. What Makes “Accelerated” Payments Different Accelerated payments work differently—and this is where the real savings happen. With accelerated bi-weekly or accelerated weekly payments, you’re paying a slightly higher amount each time. That extra money goes directly toward reducing your mortgage principal, which lowers the interest you’ll pay over the life of the mortgage. A Simple Example Let’s assume a $1,000 monthly mortgage payment: Monthly: $1,000 once per month = $12,000 per year Semi-monthly: $500 twice per month = $12,000 per year Bi-weekly: $1,000 × 12 ÷ 26 = $461.54 every two weeks = $12,000 per year Accelerated bi-weekly: $1,000 ÷ 2 = $500 every two weeks = $13,000 per year With accelerated bi-weekly payments, you effectively make two extra payments per year without having to think about it. Those extra payments reduce your principal faster, which lowers interest costs over time. Accelerated weekly payments work the same way—you just make smaller payments more frequently. Why This Matters Long Term While it’s difficult to calculate exact savings due to variables like interest rates, terms, and amortization changes, maintaining an accelerated payment schedule over the life of your mortgage can reduce your amortization by up to three years and save a significant amount of interest. The Bottom Line Accelerated payments are a simple, automatic way to lower your overall cost of borrowing—without needing to make lump-sum payments or drastically change your budget. If you’d like to see how different payment frequencies would impact your mortgage specifically, feel free to reach out anytime. I’d be happy to walk through the numbers with you and help you choose the option that fits your goals.
© 2026 

Katherine Martin. All Rights Reserved.