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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
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
Updates on mandatory documented disclosures and acknowledgements:
- Differences between the old and new OREA Forms
- Clarifying terminology to describe brokerage/consumer relationships
- New Regulator Forms, like the “Information Guide,” that will be provided to clients and self-represented parties, and how they will affect Member trading
- Necessary updates to OREA Forms and Clauses to ensure TRESA compliance
Stay tuned for more details on Forms resources, including webinars, new courses, and educational guidance in Fall 2023.
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.
TRESA Regulations Seminar
TRESA Regulations Seminar
OREA is excited to offer Member Boards and brokerages the opportunity to schedule a session with one of our experts. Due to the high demand we will look to schedule virtual sessions, or, if possible, in-person TRESA seminar sessions. These sessions will share information on the following:
- The history of TRESA (including Personal Real Estate Corporations)
- A new model of designated representation
- The new “principle-based code of ethics”
- New options for consumers when interacting with REALTORS®, including as “self-represented parties”
- A new consumer information guide
These virtual sessions are 1.5 hours long. The cost is free for Member Boards and $200 per brokerage. In-person presentations are also available for $500 (plus expenses) per brokerage. Get the most recent updates and ask live questions in these informative sessions.
If you're interested in learning, you can watch a recording or book a session by contacting REALTOR® and TRESA expert, Ray Ferris via email:
Schedule this seminar→Questions or Comments?
Reach Out
The OREA Government Relations team welcomes all contact from Members. Don't hesitate to contact us with your questions, comments, or suggestions.
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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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