Manitoba has proposed new legislation that would ensure fairness and transparency for families buying or selling homes. The proposed rules would protect homebuyers and sellers when dealing with Manitoba real estate agents.

“The Manitoba government will introduce new rules to ensure families get clear, fair service from real estate agents whenever they buy or sell a house,” says Consumer Protection Minister Ron Lemieux.  “A home is the biggest purchase most families make in Manitoba. Our legislation will require agents to act in the best interests of families to protect their investments.”

Lemieux notes that in some situations, homebuyers and sellers can face multiple offers for their home, or agents will represent both a buyer and a seller, creating confusion over finances and divided loyalties. In addition to addressing these issues and concerns, Lemieux says the new legislature would take specific measures to protect families, including:

• Online listings with a real estate agent’s background and any disciplinary findings against them;
• A service agreement that clearly explains the role of the agent and an upfront agreement about the agent’s sales commission and fees;
• A requirement, on the part of the agent, to disclose all offers on a seller’s home to the seller, in the instance of multiple offers;
• A requirement, on the part of the agent (seller and buyer), to inform both parties of a potential conflict before a sale is finalized;
• Establishing a new code of conduct that would identify responsible services.

The Manitoba Securities Commission currently regulates real estate agents and brokers in Manitoba. However, the existing legislation is more than 60 years old.