New Brunswick is long overdue for a Home Buyer Bill of Rights
Regulation of the Real Estate industry in New BrunswickIn New Brunswick, the Real Estate industry is co-regulated by The New Brunswick Financial and Consumer Services Commission (FCNB) and the New Brunswick Real Estate Association (NBREA)
New Brunswick Financial and Consumer Services Commission (FCNB)FCNB is responsible for the regulation and enforcement of real estate legislation namely The Real Estate Agents Act. Other than rules regarding the security of the Buyer's deposits, there is nothing in the Act specific to the protection of Buyers.
The New Brunswick Real Estate Association (NBREA)"The NBREA is a provincial association of REALTORS® working together to strengthen and promote standards of professionalism. The NBREA was incorporated in 1958 and today represents over 950 agents, salespeople and affiliate members throughout the province." The NBREA administers the New Brunswick Real Estate Association Act. There is nothing in the Act specific to the protection of Buyers.
Correspondence with FCNB concerning Home Buyer protectionChuk's message to FCNB 4/26/21, 1:22 PM
I am concerned with a rapidly growing trend whereby Sellers are refusing to accept offers conditional on a Home Inspection. In short, Sellers (and possibly Realtors / Agents) are removing the Buyer's protection even though the Sellers are signing Property Disclosure Statements that state that it is the Buyer's responsibility to verify the accuracy of the information provided and that the Buyer can use a third party to do so.
Read entire conversation
Correspondence with NBREALetter to Mitch McLean, Registrar NBREA dated Feb 15, 2022 Read the letter
The letter was subsequently forwarded by Mitch McLean to Jamie Ryan, Chief Executive Officer NBREA.
Mr Ryan's reply to Chuk MacDonald dated March 8, 2022. Read the letter
Chuk's response to Jamie Ryan's letter of March 8, 2022 Read the response
Comments were written directly on Mr Ryan's letter and returned to him.
The Real Estate Agents Act
New Brunswick Real Estate Association Act
Status Inspection & Design ®
Real Estate Inspection Service