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

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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?

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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

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TRESA and Standard Forms

The TRESA changes are effective as of December 1, 2023, and Members can view the 2024 Forms. The Standard Forms team has developed educational guidance, such as recorded webinars, supplemental files, and upcoming TRESA events.

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.

Standard Forms & TRESA Resources

Government Legislation and Regulations

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Government Legislation and Regulations

What's Next

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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.

Multiple & Designated Representation

Q1. Has multiple representation changed? What happens now when a brokerage is representing a seller and buyer?

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Q2. What is designated representation?

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Q3. Why did OREA advocate for designated representation?

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Q4. Why is designated representation good for REALTORS® and consumers?

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Q5. Under designated representation, can I refer a buyer on my listing to someone within my brokerage to be their designated agent and collect a referral?

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Self-represented Party

Q1. Why is the government introducing the new term self-represented party and eliminating customer? Why is this better for consumers?

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Q2. How is an SRP different from a customer?

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Q3. If there is no representation agreement with an SRP, are they required to fill out anything at all?

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Q4. Can an SRP become a client?

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Q5. Is there a list of activities that are allowed to be provided as “assistance” to an SRP?

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Q6. Can I show someone else’s listing to an SRP?

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Q7. Do the self-represented party documents need to be acknowledged or signed before a member is allowed to provide assistance to the self-represented party?

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Q8. How do open houses work when it comes to SRPs? If someone walks into the open house do they have to decide to be an SRP or client and be given the guide?

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Q9. What if a buyer calls for information on my listing?

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Q10. Are we allowed to prepare an Agreement of Purchase and Sale for an SRP?

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Q11. Can the self-represented party refuse to sign the acknowledgment form and what happens if they do? What are you supposed to do in that situation?

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Q12. Could a registrant receive remuneration for providing assistance to a self-represented party?

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Q13. What would happen to existing customer agreements once the rules change?

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Q14. Can we continue to send new listings in real time to buyers i.e., a drip campaign?

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Competing Offers

Q1. How does the Content of Competing Offers process work? Must consent be received in order to proceed?

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Q2. What happens if the seller switches their mind halfway through the transaction and goes from a blind bidding process to sharing contents of competing offers or vice versa. Can the buyer withdraw their offer?

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Q3. If the seller has the option to disclose the contents of offers, when do they have to make this decision? Would a buyer get advance notice that the contents would be disclosed?

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Q4. Does a Listing Agent need a written seller’s direction to move from a blind bidding process to sharing the contents of competing offers?

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Q5. If a Seller decides after receiving offers they want to share the content of competing offers now and disclose terms to other parties, do the buyers have to consent?

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Q6. When in a competing offer process, does the listing agent have to provide the details (i.e. price or terms) to the co-operating agents in writing?

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Q7. Is there a process to determine if the information the listing brokerage provides to buyers’ agents during a competing offer process is accurate (i.e. the highest purchase price, or that there’s an offer with no conditions)?

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Written Agreements and Disclosures

Q1. What changes were made to written agreements under TRESA? What is now required from REALTORS®?

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Q2. What are the new rules surrounding disclosures?

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Q3. What are common examples of disclosures?

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Q4. Is a text message or email sufficient for disclosures?

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Q5. At what point do disclosures have to be disclosed?

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Q6. What if a co-operating agent doesn’t pass my seller’s disclosure on to their Buyer or get it acknowledged?

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Consumer Information Guide

Q1. What is the new information guide and when do I have to give it to my client?

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Q2. Where does the information guide come from and does my client have to acknowledge its receipt in any way?

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Q3. Will the new consumer information guide be replacing the Working with a REALTOR® document?

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Code of Ethics

Q1. How has the Code of Ethics changed?

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RECO Discipline Process

Q1. What do the regulations say about RECOs discipline process?

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Q2. Why are we giving the regulator the powers to conduct smear campaigns?

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TRESA - Other

Q1. Does phase two address the auctioneer exemption?

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Q2. What happens to our current listing agreements when the regulations come into effect? Do we have to get them all resigned to include the new requirements for agreements in writing?

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Q3. Why is TRESA Important?

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Q4. What is the next phase of regulatory development? When will it start and what will be included?

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Q5. Does this mean that things outside of these new legislative changes, from the current REBBA, still remain intact? For example, advertising requirements, requirements to disclose the number of offers etc.

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Q6. What key changes are included in the second phase of TRESA, 2020 implementation?

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Q7. Can you speak on how registration status is now different under TRESA?

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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.

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