OREA CEO Tim Hudak Statement on the Rebuilding Consumer Confidence Act

"Buying or selling a home is one of the largest, most complex financial transactions Ontarians will ever make. Whether the home is new or resale, every home buyer and seller has a right to expect that their life savings will be protected.

Ontario REALTORS® congratulate Minister Lisa Thompson and the Ford Government upon today’s introduction of the Rebuilding Consumer Confidence Act, 2019. If passed, the Bill would overhaul the Ontario new home warranty program and reform the Tarion Warranty Corporation. Along with the introduction of the Trust in Real Estate Services Act, 2019, the Ford Government is taking strong steps to ensure that there are high levels of professionalism, strong consumer protection and modern business tools in Ontario’s housing market.

OREA is pleased that the Ford Government is acting upon the Ontario Realtors’ recommendation to establish a builder code of conduct. A code of conduct that applies to all employees of a home builder, in particular salespeople and establishes a higher standard for honesty, integrity and professionalism to govern all interactions with homebuyers. Ontario’s 80,000 Realtors have followed a similar Code of Ethics since 2002.

I want to thank Minister Lisa Thompson for her leadership in bringing this act forward and rebuilding the confidence of the people of Ontario when it comes to the biggest purchase of their life."

- Tim Hudak, CEO of the Ontario Real Estate Association