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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 2 of the new regulations are effective as of 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?
REALTORS® across Ontario enter a new era of professionalism with the Trust in Real Estate Services Act (TRESA) Phase 2 regulations. Join REALTOR® and TRESA expert Ray Ferris to learn more about what these changes mean for Ontario REALTORS® and your business.
The REALTOR® Is In - Ray Ferris Q&A Webinar Registration and Recordings→
Watch the Nov. 30 Member guidance webinar→
The following resources explain how to implement the changes:
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.
Government Legislation and Regulations
Government Legislation and Regulations
On July 28th, 2023, the Government of Ontario introduced TRESA Phase 2 regulations, which includes:
What's Next
What's Next
OREA anticipates the Ontario Government will begin Phase 3 regulatory work when the legislature resumes October 2024.
Remaining priorities OREA will be advocating for include:
- Regulations to support specialty certifications for REALTORS® and brokers
- Rules for new administrative money penalties for black-and-white violations of the Code or other TRESA regulations
- Eliminating the outdated auctioneer loophole
Cooling Off Period
Bill 200, the Homeowner Protection Act was passed in June 2024, and introduces a mandatory, 10-day cooling off period for buyers of new freehold homes only. OREA fought hard to stop this from being applied to resale homes in Ontario - and succeeded. OREA will continue to monitor the issue as regulations are developed and will continue to push back against any cooling-off period on resale homes, which would negatively impact both buyers and sellers by undermining certainty in real estate transactions.
Note: the cooling off period info online is actually inaccurate, as we have since publicly supported a cooling off period on new builds (and legislation has now been passed) - so urgently needs to be updated from that lens as well. That paragraph is the only "new" content (the rest is pulled from other documents), but the language is in-line with our other communications on it (AME, NR, etc). While technically a separate topic, the two are closely linked (and there was discussion about the RECO Info Guide on this morning's call, which was under TRESA Phase 2) - so given that regulations are in development, and Gov. is currently consulting on them, I think it's wise to leave the mention of the COP work here for now, even though it's not technically TRESA. We can likely remove it when we do the next big update for the whitepaper launch.
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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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