What was the purpose of the Real Estate Trading Act proclaimed in January 1997?

The Real Estate Trading Act, proclaimed in January 1997, was primarily designed to focus on real estate regulation and to establish the Nova Scotia Real Estate Commission. This Act aimed to create a framework for the licensing and regulation of real estate professionals within the province, ensuring that individuals engaging in real estate transactions adhere to specific standards of practice and consumer protection.

By instituting the Nova Scotia Real Estate Commission, the Act furthered the objectives of overseeing the conduct of real estate agents and brokers, addressing issues such as ethical practices, accountability, and transparency in the real estate market. This regulatory body plays a crucial role in maintaining public trust and confidence in real estate transactions by enforcing compliance with the law and providing resources for education and support to real estate professionals.

In contrast, the other options do not reflect the core goals of the Act. The Act did not address municipal zoning laws, provide financial assistance to home buyers, or offer tax reductions for property owners; instead, its primary focus was on establishing a regulatory framework specific to the real estate industry.