Consumer Information

> Frequently Asked Questions - Consumers

Does the provincial government have any role at all in the Commission?
The government passed The Real Estate Act that established the Saskatchewan Real Estate Commission.

The Superintendent of Real Estate has the power to review the conduct of the Commission if it is in the public interest to do so and can also order the Commission to take any action considered appropriate. However, the government has no direct involvement in the day-to-day operations of the Commission.

How is the Commission funded? Are any public tax dollars involved?
Since it took over responsibility for industry regulation, the Saskatchewan Real Estate Commission has been fully funded by industry members. The primary sources of funding are the registration fees paid by industry members and the Commission's administration of three funds: Real Estate Assurance Fund, Interest Bearing Trust Account Fund and the Errors and Omissions Insurance Fund.

Before July 1, 1988, the government handled the regulation of the real estate industry. Fees charged were not sufficient to cover the total costs incurred, which were then subsidized by tax dollars.

As a consumer, how can I be sure that my interests will be taken into account?
The aims of industry members and consumers are sometimes perceived as very different. This is, in fact, not the case. Industry members who operate unethically and illegally hurt the integrity of the industry. They also have a competitive advantage over those who follow the rules. It is in everyone's best interest for the Commission to set standards and to stop unethical or illegal business practices by monitoring the marketplace, carefully investigating complaints, and conducting disciplinary hearings.

Although this method of self-regulation is new for the real estate industry, there are checks and balances in The Real Estate Act to make sure that the Commission carries out its responsibilities as intended by the government.

The Saskatchewan Real Estate Commission pledges not to turn a blind eye. It strives to be a neutral regulator that is objective, consistent and fair.

Why is it so important that I only deal with a registrant?
Registrants have completed the necessary educational training and passed admission exam(s) in order to become registered. The Commission regulates their conduct and business practices and they are required to attend continuing professional development seminars. They must comply with The Real Estate Act, its regulations and the Commission Bylaws. They are covered by the Real Estate Assurance Fund. All of these requirements are in place to ensure that the person you are dealing with is qualified to provide professional real estate services to you.

As a consumer you take a significant risk when you deal with an unregistered agency or individual. They are not subject to these standards and there is no protection for you in the case of fraud or breach of trust. It is an offence under The Real Estate Act for a person to trade in real estate without a registration and the Commission will prosecute known cases.

How do I know that the agent or salesperson I am dealing with is registered with the Saskatchewan Real Estate Commission?
You may phone the Saskatchewan Real Estate Commission at 306-374-5233 or you can conduct your own search on our website. The website address is www.srec.ca.

I am a real estate broker but I am not a member of any real estate board. Am I still affected by the Saskatchewan Real Estate Commission?
Yes. The Commission’s jurisdiction includes all real estate brokers, branch managers, associate brokers, salespeople and property managers.

What compensation can a consumer obtain if an industry member is negligent or in breach of contract? Can you cancel my deal and get my deposit back?
It is not the role of Commission to settle civil cases between consumers and industry members. A consumer who loses money as a result of breach of contract or the negligence of an industry member can make a claim against the agent or salesperson in civil court.

Does the Commission publicize the results of its investigations?
Yes, when there is a finding of misconduct. Investigation case summaries are included in the Commission's newsletter, The Register. The information is provided for both industry members and consumers and is also available on the Commission’s website.