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TRESA Resources & Guidance
Trust in Real Estate Services Act (TRESA)
As of December 1, 2023, the Trust in Real Estate Services Act (TRESA) replaced the Real Estate and Business Brokers Act (REBBA), making Ontario a North American leader in professional standards for real estate professionals.
Buying or selling one’s home deserves the expertise of a REALTOR® with the highest professional standards. OREA has developed extensive resources to assist Members with the transition to TRESA, including videos, practical guidance pieces, and updated OREA Forms.
Understanding TRESA
Learn more about TRESA Phase 2 and what the legislation means for Ontario REALTORS®:
Forms Knowledge Hub
Visit The Hub, a space where you can get answers to all your Standard Forms questions and learn how to implement TRESA changes into your day-to-day business. Browse the guidance pieces for information on hot new topics and get answers to frequently asked Forms questions. We’re always adding new information, so be sure to check back often.
TRESA Resource Center
The OREA team regularly updates resources to ensure REALTORS® have the tools they need to succeed. These resources help you understand how TRESA Phase 2 regulations impact your daily business.
Resources
These exclusive Member resources provide an overview of the updated OREA Forms that reflect TRESA Phase 2.
Resources
These exclusive Member resources provide an overview of the updated OREA Forms that reflect TRESA Phase 2.
- 2024 Summary of Revisions file
- OREA’s Residential and Commercial Clause Booklet
- OREA’s Forms Index
- OREA’s Standard Forms FAQs
All OREA Forms can be found on the Standard Forms webpage. For additional details about TRESA’s impact, visit The Hub.
Webinars
OREA webinars feature TRESA subject matter experts who provide comprehensive reviews of the legislation and practical guidance to help ensure success.
Webinars
OREA webinars feature TRESA subject matter experts who provide comprehensive reviews of the legislation and practical guidance to help ensure success.
For further insights into how TRESA impacts your business and how to adapt effectively, see our “TRESA in 2” video series.
News
For the latest updates on TRESA and what’s to come, browse the articles below. Be sure to check back regularly for additional updates.
News
For the latest updates on TRESA and what’s to come, browse the articles below. Be sure to check back regularly for additional updates.
Forms Communication - Members Only
OREA Forms & TRESA Supplemental Package (Oct 25)
October 25, 2023
Supplemental Information E-Binder Package reflects Forms Webinar 'OREA Forms & TRESA' held on October 25th, 2023.
Media Statement
OREA CEO Tim Hudak Statement on TRESA Phase 2 Implementation
July 31, 2023
The biggest financial transaction of one’s life – buying or selling a home – deserves the expertise of a REALTOR® with the highest professional standards.
Press Release
OREA Statement Regarding Auditor General Report on the Real Estate Council of Ontario
November 30, 2022
TRESA replaced the decades-old Real Estate and Business Act, 2002 (REBBA) and made Ontario the North American leader when it comes to professional standards, training, and modern tools for real estate professionals.
The Path to TRESA
The Path to TRESA
OREA began lobbying the Ontario Government in 2009 with the goal of modernizing legislation for the real estate profession. In 2020, TRESA was established to provide enhanced protection and offer more consumer choice.
On December 1, 2023, the Government of Ontario implemented the TRESA Phase 2 regulations.
For more details on how we got here, visit The Path to TRESA page.
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.
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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