Sep 19, 2014 – News Today

Buyers and sellers working with now defunct realty firm will be compensated

Realtors working for Surrey’s 8th Avenue Elite Realty Ltd. will likely lose any income owed to them, but home buyers and sellers are protected by the Real Estate Special Compensation Fund. The Real Estate Council of British Columbia said it has suspended 8th Avenue’s real estate licence and frozen all company accounts due to failure to account for trust monies held on behalf of clients.