The Québec Federation of Real Estate Boards calls for a fair and equitable regulation of real estate brokerage
Jan 18, 2018, 11:00 ET
The QFREB wants Bill 141 to make public protection a priority
L'ÎLE-DES-SŒURS, QC, Jan. 18, 2018 /CNW Telbec/ - The Québec Federation of Real Estate Boards (QFREB) appeared today before the Committee on Public Finance on behalf of Québec's 13,000 real estate brokers to ask the government to change the definition of the brokerage act, so that all professionals who provide advice as real estate specialists are subject to the same rules.
An unfortunate step backwards
For the QFREB, Bill 141 misses the target by not protecting consumers who do business with a for-sale-by-owner company offering real estate advertising, support or coaching services. Worse still, it is a step backwards from the gains that consumers have made over the years in terms of protection, in particular, the laws of 1991 and 2010 which were specifically aimed at professionalizing the work of real estate brokers to make them fully accountable.
"Bill 141 as proposed by the government could result in a regrettable step backwards, a return to the time when anyone could practice real estate brokerage without the need for professional liability in the event of fault or negligence," highlights Patrick Juanéda, QFREB President.
The same rules for everyone
The QFREB deplores the double standards that have taken root in the real estate industry in recent years which have created a significant breach in public protection.
"The QFREB believes in the consumers' freedom to choose whether to sell with or without the support of a real estate broker, so as long as this choice is made with full knowledge of the facts," explains Mr. Juanéda. "For-sale-by-owner companies are legitimate and respond to a demand in the market. However, if they venture into the field of real estate advice, they must be subject to the same rules as other professionals, as is done in other Canadian provinces," he points out.
A real estate transaction is a complex process which requires detailed knowledge and skills. For many households, it represents the most important financial transaction of their lives.
"We want to ensure that the public is protected and that consumers who choose to receive advice concerning their real estate transaction have access to services provided by regulated, recognized and certified professionals," states Mr. Juanéda.
The QFREB is disappointed to see that the government did not listen to Québec's 13,000 brokers who mobilized last fall to share their concerns with their respective MNAs about the lack of clarity in the current law. The QFREB believes that a clear and precise definition of the brokerage transaction would permit real estate resale companies to continue to evolve, while ensuring adequate protection for the public.
About the Québec Federation of Real Estate Boards
The Québec Federation of Real Estate Boards (QFREB) is a non-profit organization representing the province's 12 real estate boards and their nearly 13,000-member real estate brokers. Its mission is to support Québec's real estate boards in order to defend, protect and promote the interests of real estate brokers through the provision of services in the areas of professional practices, public affairs and market analysis. The QFREB is guided by an approach centered on collaboration and resource sharing.
SOURCE Québec Federation of Real Estate Boards
For further information: Jacynthe Alain, Assistant Manager, Communications and Public Relations, Québec Federation of Real Estate Boards, 514 647-8249, [email protected]
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