Real Estate 2019
Real Estate is ever changing, and unless you've bought or sold a property in the last years or so some things have changed. In 2012 the Real Estate industry was approved for self regulation. As a result the Real Estate Council of Alberta (RECA) was formed to improve, monitor, and regulate the Real Estate Agents, Mortgage Brokers, Property Managers, Appraisers, and most recently Home Inspectors. RECA also administers the Real Estate Act, on behalf of the Government of Alberta. Over time RECA has updated advertising regulations, Real Estate forms, and implemented, Buyer Service Agreements, and most recently Residential Measurement Standards (RMS) to insure consiStency in how properties were measured presented to the public.
As well, some brokerage policies have changed, and later this year changes to the Condominium Act will be of interest to both buyers and sellers.