Thank you, Mr. Speaker. I rise today as a follow-up to my Member’s statement on the legislative gaps in our dated Real Estate Agents’ Licensing Act as pertains to dual agency. Admittedly, the North is faced with unique challenges where we may have limited agents available to fully represent a given area. Therefore, a real estate agent may be forced to represent both the seller and the buyer. In reality, how can one agent place the interests of two separate and distinct parties first in the same transaction? This is tricky yet not impossible as the proper legislative roles around the simple use of representation disclaimers could still legally protect both the owner and the seller.
My questions today are for the Minister of Municipal and Community Affairs responsible for the Real Estate Agents’ Licensing Act. As I indicated earlier, this act provides the basic governance for real estate agents in the Northwest Territories and has not kept pace with the development of real estate practices. Can the Minister of Municipal and Community Affairs indicate why we have not looked at this act since its inception in 1991?
Thank you, Mr. Dolynny. The Minister of Municipal and Community Affairs, Mr. McLeod.
Thank you, Mr. Speaker. There were a couple of minor amendments made to the Real Estate Agents’ Licensing Act. There was a minor amendment made in 2010, and another minor amendment that came into force in April of 2011. However, the Member is correct; this is a very outdated piece of legislation and it’s one that could benefit from a full review. I will weigh this against our other legislative priorities and see where it fits into the legislative priorities of the 17th Assembly.
I appreciate the Minister’s response. I wasn’t aware of the recent, I guess, the changes in legislation and I’ll make a note of that. Can the Minister indicate as to what work the Department of Municipal and Community Affairs has done to review the gaps of legislation that are currently in the Real Estate Agents’ Licensing Act? Has the department identified those provisions found in real estate law in other jurisdictions and looked at responding to increasing trends in real estate in the Northwest Territories?
We haven’t started any work yet, as I’ve said before. This is one aspect that we’d probably benefit from a full review. We look at our legislation based on the basis of risk, and we look at the potential risks and benefits of a number of persons that are affected by legislation, and we do have some pieces of legislation that we’re working on right now and we need to weigh that against looking at future legislation.
I do agree with the Member, though, it is one that would benefit from a full review. Thank you, Mr. Speaker.
Thank you, Mr. McLeod. Member for Hay River South, Mrs. Groenewegen.
