The Path to TRESA

A Goal is Set

2009

OREA set a goal to modernize REBBA, and began an internal review of the legislation while lobbying the Government of Ontario on needed reforms.

Facing the Issue Head On

2016

The media took a scathing look at real estate agents in Ontario and British Columbia. OREA faced the issue head on and led the charge for higher industry standards and REBBA reform.

Ontario Government Agrees to Work with REALTORS®

2017

The Government of Ontario announced a review of REBBA in April, and OREA struck the REBBA Review Task Force to conduct a top-to-bottom review of the legislation over the next 16 months.

GETTING TO THE HIGHEST PROFESSIONAL STANDARDS IN NORTH AMERICA

2018

To ensure Ontario REALTORS^® are North American leaders when it comes to professionalism and ethics, OREA’s Task Force generated four white papers, 4,000 points of feedback, and 45 proposals, which were used to inform OREA’s recommended modernizations to REBBA.

OREA's Vision for a Modern REBBA

2019

38 recommendations for REBBA reform were put forward by OREA, with the goal of ensuring that the Ontario REALTOR^® at your side during the largest financial transaction of your life has the highest professional standards, training, and modern tools in North America.

TRESA passes unanimously with all-party consent

2020

In February, TRESA passed unanimously. It is one of the few pieces of legislation in Ontario to receive bi-partisan support with positive and constructive debate in the Legislature. Phase One work began.

In October, Phase One regulations came into effect. REALTORS^® are now allowed to form Personal Real Estate Corporations (PRECS), and can use new descriptors and advertising terms.

ENHANCING PROFESSIONALISM AND ETHICS

2021

OREA worked closely with the Government of Ontario and real estate partners on the development of Phase Two TRESA regulations, advocating for:

• An updated “principle-based” Code of Ethics
• New definitions, disclosures and terms
• A new consumer “Information Guide”
• Strengthening RECO’s Discipline Committee
• The option for a new open offer process
• Designated Representation

A discrimination provision was added to the Code of Ethics, explicitly requiring compliance with the Ontario Human Rights Code, following a recommendation made by OREA’s Presidential Advisory Group on Diversity, Equity and Inclusion. See our Fighting for Fair Housing Report.

TRESA is here!

2023

On December 1, 2023, REALTORS® across Ontario entered a new era of professionalism as the Trust in Real Estate Services Act (TRESA) officially replaced REBBA, and Phase 2 regulations came into effect. TRESA makes Ontario a North American leader by ensuring the REALTOR^® at your side during the largest financial transaction of your life, has the highest professional standards, ethics, training, and modern tools in North America. Phase 2 also includes tougher enforcement for bad actors who break the rules and erode confidence in the profession. Visit orea.com/TRESA to learn more about this historic moment and what the changes mean for Ontario REALTORS®.

Continuing the work we started

2024

Work on the third and final phase of TRESA regulations is underway, and is set to cover specialty certifications for REALTORS® and brokers, improved continuing education, new administrative money penalties for black-and-white violations of the Code or other TRESA regulations and updating RECO’s registration process to reduce red tape for REALTORS®.