Call to Action:
Lawyers can… Accountants can… Mortgage brokers can… REALTORS® CAN’T.

It’s time to treat REALTORS® fairly. It’s time to permit Personal Real Estate Corporations in Ontario.

Call to Action
ISSUE
Currently, Ontario real estate salespeople are prevented by the Real Estate and Business Brokers Act (REBBA), 2002 from incorporating their businesses through a personal real estate corporation (PREC).


ONTARIO LEGISLATION IS DISCRIMINATORY
Other regulated professions, including chartered accountants, lawyers, health professionals, social workers, mortgage brokers, insurance agents, architects and engineers, can all form personal corporations.


OTHER PROVINCES
Since 2008, British Columbia, Quebec, Manitoba, Saskatchewan, Alberta and Nova Scotia have all moved to allow real estate salespeople to incorporate.


NO COMPROMISE TO CONSUMER PROTECTION
Real estate salespeople who form personal corporations will continue to be subject to all professional and ethical obligations under REBBA, 2002.


SOLUTION
OREA calls on the Ontario government to amend REBBA, 2002 to permit real estate salespeople to incorporate. Allowing personal real estate corporations will help REALTORS® with their small businesses, level the playing field with other regulated professions and harmonize the practice with other provinces.

MPP Todd Smith has reintroduced Bill 104, the Tax Fairness for Realtors Act, 2017, which is being co-sponsored by MPP Mike Colle and MPP Catherine Fife. The bill, if passed, would allow Ontario REALTORS® to form personal real estate corporations (PRECs).


Tell your MPP to support the Tax Fairness for Realtors Act, 2017.
Take action now: http://www.realtortaxfairness.ca/