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Real Estate Service Agreements in Manitoba
As of January 1, 2022, a change has been made to the Real Estate Services Act (RESA) that requires you to sign a service agreement with a REALTOR® up front, before any services are rendered. If you’re buying, selling or renting a commercial or residential property in Manitoba, you’ll need to sign a service agreement.
The new service agreement is your assurance that your REALTOR® is on the job for you, on your terms. Your signature acts as proof that you understand the purpose of the agreement: that it’s your REALTOR®’s pledge to deliver on their promise of professionalism and transparency at every step of the home buying or selling process.
Visit https://www.promisesonpaper.ca/ for more details on the changes.
It’s the same great service, just with a bit more paperwork 😊
– Justin
50% Manitoba Education Property Tax Rebate
You will soon have more money in your pocket.
The 2021 Manitoba Budget marks a victory in the decades-long advocacy effort to have the Manitoba government implement a more equitable education funding model that removes provincial taxes from property. Manitoba is the only province to impose locally determined education property taxes. The phasing out of these taxes will put Manitobans on an equal footing with other provinces that fund education from general revenues.
Starting this year, the province will begin lowering education property taxes by:
- 50 per cent over two years (25 per cent per year) for residential and farm properties.
- 10 per cent this year for other types of property such as commercial, industrial, railway, institutional, pipelines and designated recreational.
According to Finance Minister Scott Fielding, “Homeowners across Manitoba can expect an average rebate of over $800 over two years.” The announcement is welcome news for homeowners and real estate professionals alike. As REALTORS®, we want to ensure the opportunity of owning a home remains affordable for Manitobans for years to come.
