Released on July 14, 2011
The Government of Saskatchewan has passed regulations under The Professional Corporations Act to allow real estate professionals to practice their profession through a corporation. Real estate agents will now join other professionals, including lawyers, dentists, veterinarians and psychologists under the Act.
"These changes reflect our government's commitment to working with businesses and professional associations to remove barriers to economic growth and prosperity," Justice Minister and Attorney General Don Morgan said. "We heard very clearly from the real estate industry on this issue, and are pleased to make the necessary regulatory changes."
The Saskatchewan Real Estate Commission will be responsible for issuing permits to its members, if they apply to practice through a professional corporation. There are approximately 1,600 real estate professionals registered with the commission.
"The Association of Saskatchewan REALTORS® (ASR) is very pleased with the inclusion of Real Estate Agents as a designated profession under The Professional Corporations Act," ASR Executive Vice-President Bill Madder said. "Being designated as a profession under this Act alongside accountants, lawyers, dentists and other professionals is a significant accomplishment for Saskatchewan real estate agents."
Saskatchewan is the first province in Canada to allow real estate agents to professionally incorporate.
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For more information, contact:
Linsay Rabyj
Justice and Attorney General
Regina
Phone: 306-787-0775
Email: linsay.rabjy@gov.sk.ca