The government of Manitoba tabled new legislation Tuesday it says will modernize rules regarding real estate transactions and protect consumers.

According to the government, the proposed Real Estate Services Act is aimed at ensuring more transparency and fairness in the industry.

Consumer Protection Minister Ron Lemieux said the legislation will update some regulations that have not been changed in 60 years.

“A home is the biggest purchase most families make in Manitoba,” said Lemieux. “Our legislation will require agents to act in the best interests of families to protect their investments.”

Under the proposed legislation, all agents would be listed online, along with any disciplinary actions taken against them, so clients could search prospective realtors to confirm they are legitimate and that they have a clear record.

A service agreement between clients and agents that clearly outlines sales commissions and other fees will be required upfront.

Winnipeg realtor Amber van den Boerk welcomes the new rules and thinks they will strengthen the industry.

“The more accountability that we have in the industry, it will make the strong agents stronger, it will protect consumers and, you’re right, it will weed out the bad apples,” she said.

The legislation will also establish a new code of conduct to guide responsible service and avoid conflicts of interests.

The Manitoba Securities Commission will get new powers to create regulations and potential fines for offences will be increased up to $100,000 for agents and up to $500,000 for brokers.

The government hopes the new regulations will be in effect by early 2015.