TORONTO, ON--(Marketwired - November 03, 2016) - Ontario Realtors announced today their support for new legislation to regulate the provincial home inspection industry. If passed, the legislation would introduce mandatory licensing requirements for Ontario's home inspectors and will give consumers peace of mind that they are hiring a qualified professional.
"Buying a home is the largest investment most of us will ever make," says Ray Ferris, President of the Ontario Real Estate Association (OREA). "The information a home inspector provides to a consumer is critical to their decision to purchase a property."
This new legislation is the culmination of extensive consultations with home inspection associations, consumer advocates, and the real estate industry on mandatory qualifications for home inspectors to enhance consumer protection. OREA was happy to be a member of the volunteer panel of experts who developed a report with 35 recommendations for the home inspection industry.
"When buying a home, people have a right to expect high professional standards and government oversight of all professionals involved in a real estate transaction," said Tim Hudak, CEO Designate of OREA. "High standards and a clear legal framework in the home inspection industry will ensure home buyers and sellers receive reliable, informative and professional advice when making one of the largest decisions of their lives."
The proposed legislation would also create an administrative authority which will oversee the industry and establish a code of ethics, additional licensing requirements and provide consumers with a complaint and enforcement process.
About the Ontario Real Estate Association
The Ontario Real Estate Association represents over 66,750 brokers and salespeople who are members of the 40 real estate boards throughout the province. Ontario REALTORS® are regulated under the Real Estate and Business Brokers Act, 2002 (REBBA). REBBA is administered by the Real Estate Council of Ontario. OREA serves its REALTOR® members through a wide variety of professional publications, educational programs, advocacy, and other services. www.OREA.com