Designed to establish means in which standards of conduct could be enforced, real estate acts delve into the world of consumer protection by ensuring industry integrity is maintained and that fraudulent practices are closely policed. Real estate acts grant powers to their administrative bodies to provide services that improve the industry and the business of industry members. As a result of identified inefficiencies, REALpac has embarked on a nation-wide review of provincial real estate acts, challenging relevant Ministries and their delegated regulatory bodies to examine their laws and requirements and ensure the acts are in tune with the realities of business
REALpac is recommending that the following changes be made to provincial real estate acts:
• Implement an exemption for regulated and large institutions having an ownership stake;
• Allow the use of property management software;
• Ensure that on-line trading systems for commercial properties shall not constitute an activity "in furtherance to a trade”;
• Remove or update unnecessary courses and training; and,
• Recognize equivalent training and accreditation.
Previous Government Submissions
For more information on this issue, or any of REALpac's government relations initiatives, please contact Carolyn Lane, VP, Membership & Communications, email@example.com, 416-642-2700 x.223.