B.C. Real Estate
Market Overview
On average, there are approximately 800,000 residential real estate transactions (buys, sells and refinances) conducted per year in British Columbia*. Although computers have improved the speed and accuracy of the conveyance process, paper-based transactions still result in duplicated efforts and unnecessary costs.
In moving toward a paperless property transfer process, BC OnLine, a web-based portal of available online government services, has added electronic access to land title searches and land title registration filing to its suite of offerings. OneMove has an exclusive relationship with the government-run web portal, which has been licensed to Access BC, a subsidiary of
MacDonald, Dettwiler and Associates Ltd , giving OneMove access to the more than 37,000 registered customers in the BC OnLine database.
The Land Titles and Survey Authority of B.C. (“LTSA”) is also a proponent of the shift toward electronic transactions. The LTSA has embarked on a joint marketing campaign in partnership with OneMove’s econveynace ™ to promote the shift to electronic filing of land registry documents.
The B.C. real estate marketplace is increasingly realizing the benefits of paperless transactions. As the province’s only web-based conveyance transaction processing system, the Company is well positioned to capitalize on the growing market opportunity.
*Land Title and Survey Authority of British Columbia.