It is being called a “historic” change to the rules surrounding the real estate industry in Ontario.
Local real estate board president Andrew Lawrence says the Ford government has introduced legislation which will focus on punishing bad real estate agents and raising professional standards.
Lawrence is applauding the province for updating the Real Estate Brokers Act noting it has been something the industry have been fighting to get implemented for the last “15 to 20 years.”
It will now be renamed The Trust in Real Estate Services Act.
He explains the new law will now have more teeth in being able to rid the profession of bad real estate agents.
Lawrence adds the industry has always been fighting to improve the continuing education of agents so they are always up-to-date with the constantly changing rules
