Ontario REALTOR® Party Conference & Trust in Real Estate Services Act, 2019

by | Nov 20, 2019 | Uncategorized | 0 comments

From Sunday, November 17 to Tuesday, November 19, delegates from RAHB went to Toronto for OREA’s ORP Conference to hear some dynamic speakers and meet with elected officials from within RAHB’s market area. Below are some photos from the conference, as well as information regarding the new legislation that was introduced at Queen’s Park on Tuesday, November 19, 2019.

RAHB delegates (RAHB President Bob Van de Vrande, GR Vice-Chair Dave Zalepa and GR Chair Margaret Reid) had the pleasure of meeting with NDP leader Andrea Horwath, MPP. RAHB provided Ms. Horwath with information about RAHB, as well as information regarding the modernization of REBBA, 2002.

Trust in Real Estate Services Act, 2019

Personal Real Estate Corporations.

We have been fighting for them for almost a decade.

For far too long, REALTORS® have not had access to the same tax treatment as most other regulated professions in Ontario and that is finally changing.

The Government of Ontario has just introduced legislation that will modernize the Real Estate and Business Brokers Act, 2002 (REBBA). The Trust in Real Estate Services Act, 2019, is a game-changing piece of legislation that, once passed, will allow REALTORS® to form Personal Real Estate Corporations.

This is a historic day for Ontario REALTORS® and the buyers and sellers they represent.

In addition to permitting Personal Real Estate Corporations, the Act promises to:

  • Fix the broken real estate disciplinary system – the provincial regulator, RECO, will have greater ability to suspend or revoke licenses and pursue investigations of the worst offenders.
  • Create higher education standards–  implement specialty certifications for REALTORS® that will allow Ontario consumers to identify REALTORS® who have training or expertise in a particular area of real estate.
  • Maintain a consumer’s right to choose the REALTOR® they know and trust– continue to permit the practice of multiple representation.

The Act will bring forward a number of other key changes to reflect real estate in Ontario today. OREA will be sharing the details of all the changes with Ontario REALTORS® shortly.

For more information from OREA, please visit https://www.orea.com/News-and-Events/News-and-Press-Releases/Press-Releases/November-19-2019.

Leave a Reply