Ontario Government introduced legislation to update Real Estate and Business Brokers Act

Ontario Government has introduced a legislation proposing changes to Real Estate and Business Brokers Act.

Speaking about this, Lisa Thompson, Minister of Government and Consumer Services said,"Real estate salespersons and brokers are the experts for home buyers and sellers.”

“Whether a transaction involves a fixer-upper, a move-in ready dream home or a commercial property, every consumer should know that the person they are dealing with is professional, knowledgeable and accountable.”

Tim Hudak, CEO of the Ontario Real Estate Association also expressed his views on this and said, “For years, Ontario REALTORS(r) have advocated for higher professional standards, stronger consumer protections and better enforcement of the rules governing real estate practices,”

“Today, we are grateful to the Ontario Government for delivering on its promise to update the Real Estate and Business Brokers Act, 2002…”

MPP for Brampton South and Associate Minister of Small Business and Red Tape took to social media and posted," Breaking News:

Today, the Ontario Government introduced legislation that if passed would allow for the creation of Personal Real Estate Corporations!"