13,000 real estate brokers from Quebec’s Federation of Real Estate Board (QFREB) have mobilized against Bill 141, which outlines the responsibilities of a real estate broker operating within the province.
QFREB has concluded that the Minister of Finance must revise the Bill, and clarify in greater detail the professional requirements of real estate brokerage.
The current Real Estate Brokerage Act remains vague regarding the specific tasks which require professional training, leading to a grey area surrounding the issue of unaccredited “coaches” providing legal and financial advise to Quebec consumers.
“The Minister has chosen to address the issue of real estate brokerage as part of a mammoth bill that simply does not provide enough time to properly debate subjects that are being drowned out in a sea of legislative text. This is one of the largest bills in Québec’s parliamentary history; we cannot effectively study it in such a short period and without opening it up to amendments,” says QFREB President Patrick Juanéda.
Last Thursday, 13,000 Quebec brokers launched a mobilization initiative calling for the Minister of Finance to revise Bill 141.
Bill 141’s de-regulative nature is in direct opposition to the North American trend of imposing stricter job requirements on real estate brokers, while protecting real estate consumers. The Minister’s bill dilutes the professional framework of real estate broker, which would put consumers at a greater risk of becoming victim to dishonest or incompetent business practices.
Considering the high financial stakes of a real estate transaction, it is unwise to allow the industry to operate outside of a strict regulatory framework.
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.
For more information, refer to QFREB’s full press release.
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