The real estate regulator in Alberta needs action to address serious concerns of real estate professionals, buyers, sellers, and regulatory officials, the provincial government said Wednesday.
The Minister of Service Alberta, Nate Glubish, proposed several changes to the Real Estate Act which he says will end dysfunction in the Real Estate Council of Alberta.
“Our government is taking action to stabilize the Real Estate Council of Alberta. For too long, serious concerns and complaints from industry and from council officials themselves have been ignored,” he said. “That stops now. The council needs to stop focusing on trivial things like advertising guidelines and start focusing on protecting Albertans and addressing the actual issues facing the industry.”
If the proposed amendments to the Act are approved, it would:
- Dismiss the current council members.
- Enable the Minister of Service Alberta to appoint an official administrator to manage RECA’s affairs and continue its functions, such as hearing and appeals processes.
- Enable the transition to a new council.
These proposals were recommended in a third-party review of the Real Estate Act by KPMG.
The plan is to appoint an interim official administrator to provide leadership for RECA until a new membership council is established. This would be after further amendments to the Real Estate Act in spring 2020.
In the meantime, no disruption to RECA operations is expected for real estate professionals or consumers and the regulator will continue to provide day-to-day services related to real estate licensing, education and evaluation of professional conduct.