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?