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TRESA Resources & Guidance
Trust in Real Estate Services Act (TRESA)
TRESA is replacing the Real Estate and Business Brokers Act (REBBA) and phase two of the new regulations will come into force on December 1, 2023. Find information on how REALTORS® and brokerages will incorporate these changes in the “TRESA in 2” Videos.
“TRESA in 2” Videos TRESA FAQs Forms Resources
Buying or selling one’s home deserves the expertise of a REALTOR® with the highest professional standards. TRESA replaces REBBA, and makes Ontario a North American leader in professional standards for real estate professionals. Learn more about The Path to TRESA.
What's the Latest on TRESA?
What's the Latest on TRESA?
On July 28th, 2023, the Government of Ontario introduced TRESA phase two regulations, which includes:
- Code of Ethics
- Educational Requirements, Insurance, Records and Other Matters
- General (Incl. Information Guide, Representation & Remuneration)
The implementation of the phase two regulations will come into force on December 1, 2023. The following resources explain how to implement the changes in your business:
TRESA and Standard Forms
TRESA and Standard Forms
OREA Standard Forms resources cover what Members need to know about TRESA timing, the effects TRESA will have on REALTORS’® day-to-day business, and the TRESA trading requirements and obligations.
What's Next
What's Next
OREA continues to look ahead to phase three of TRESA. Some of the topics that we are looking to work with the Ontario government on include:
- Regulations to support specialty certifications for REALTORS® and brokers
- Improved continuing education
- Rules for new administrative money penalties for black-and-white violations of the Code or other TRESA regulations
- Updating RECO’s registration process to reduce red tape for REALTORS®
We will be pushing back against any cooling-off periods that allow a buyer to back out of a real estate transaction. The experience in British Columbia has shown that the only people benefiting from cooling-off periods are speculators who are flooding the market. A cooling-off period for resale homes in Ontario would be bad for both buyers and sellers.
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Reach Out
TRESA Questions?
OREA's REALTOR® in Residence Ray Ferris has answers! Whether you need clarification around the new offer process options, or have a question about how designated representation will work at your Brokerage, OREA has your back.
Get In Touch
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
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