RAHB was invited to the Province’s pre-budget consultations on Monday, January 29, 2018.
Government Relations Committee Vice-Chair Margaret Reid represented RAHB, and made seven recommendations to benefit home buyers, the real estate market and REALTORS®:
1. Increase the first-time home buyer’s Land Transfer Tax Rebate to $6,000 to increase affordability for first-time buyers.
2. Replace the proposed mandatory home energy audits with a plan for voluntary, targeted retrofits.
3. Institute a first-time buyer down payment assistance program to help young people buying their first homes.
4. Provide a land transfer tax rebate as an incentive to seniors to “right-size” into a smaller housing unit to open up larger, family-sized homes for young families and first-time buyers.
5. Remove red tape and government policies that delay construction of new housing stock to encourage more home-building.
6. Permit REALTORS® to incorporate their businesses through a personal real estate corporation (Note: a bill is now awaiting public hearings).
7. Continue the review of REBBA 2002 so the Act can be updated to reflect the modern real estate market and to bring a higher standard of professionalism to the real estate industry.