Holiday Closure

The OREA office will close for the holidays at 12 p.m. Tuesday, December 24th.  Normal business hours will resume on Thursday, January 2nd.  Happy Holidays!

Holiday Closure

The OREA office will close for the holidays at 12 p.m. Tuesday, December 24th.  Normal business hours will resume on Thursday, January 2nd.  Happy Holidays!

TRESA Resources & Guidance

The Path to TRESA

The Trust in Real Estate Services Act (TRESA) replaced the Real Estate and Business Brokers Act (REBBA). OREA is proud to have played a key role in bringing about the new legislation.

BACK TO TRESA OVERVIEW

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. In December of 2023, TRESA officially replaced REBBA as the legislation governing our profession.

The Path to TRESA

blurred office park in the summer

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.
Legal team discussing issues in the boardroom

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.
female business professional shaking hands with a colleague

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.
a REALTOR shows a couple around a home with new kitchen

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.
business associates in business attire smiling

OREA's Vision for a Modern REBBA

2019

28 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.
blurred image of Queen's Park in the evening from the street

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.

In October, Phase 1 regulations came into effect. REALTORS® are now allowed to form personal real estate corporations (PRECS), and can use new descriptors and advertising terms, including ‘REALTOR®’.

two professional men deep in conversation

ENHANCING PROFESSIONALISM AND ETHICS

2021

OREA worked closely with the Government of Ontario and real estate partners on the development of Phase 2 TRESA regulations, successfully 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, more transparent offer process
  • Introducing Designated Representation

A discrimination provision was also 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 in our Fighting for Fair Housing Report.

three people in a large wood panelled boardroom

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®.
Shot of a middle aged couple consulting with their REALTOR

Continuing the work we started

2024

Work on TRESA Phase 3 is underway, and OREA conducts a Member Survey on priorities to help inform advocacy for the third and final phase of TRESA regulations.

OREA’s new whitepaper, Continuing to Raise the Bar for Real Estate in Ontario, tables several bold policy proposals for the Government of Ontario to implement, aimed at improving consumer confidence with increased protections, raising the bar on REALTOR® education and professionalism, and deterring bad behaviours with stronger penalties.

Implementation

TRESA is being implemented in three phases

Due to the significant overhaul of TRESA, consultations on the new legislation were split into three phases.

Learn more about TRESA

  • 1

    Phase 1 - completed October 2020

    The phase one implementation regulations permitted the use of Personal Real Estate Corporations (PREC). To date, there are over 10,000 REALTORS® in the province who have taken advantage of a PREC. In addition, the phase one regulations amended the Code of Ethics to permit the use of new terms to describe a salesperson and a broker. Per REBBA, a REALTOR® was either referred to as a real estate salespeople, real estate salesperson, or real estate broker. The amended Code now allows a REALTOR to be referred to as real estate agent or REALTOR®. The term REALTOR® or real estate agent is only allowed to be used by Canadian Real Estate Association (CREA) Members in good standing.

  • 2

    PHASE 2 – COMPLETED DECEMBER 2023

    On July 26th, 2023, the Government of Ontario introduced their second phase of regulations addressing the following areas. TRESA officially replaced REBBA on December 1, 2023 when Phase 2 regulations came into effect.

    • Multiple and Designated Representation
    • Self-Represented Party
    • Sharing Contents of Offers
    • Written Agreements and Disclosures
    • New Consumer Information Guide
    • Code of Ethics
    • RECO’s Discipline Process

  • 3

    PHASE 3 – WORK IS UNDERWAY

    Work on the third and final phase of TRESA implementation is underway, and OREA anticipates the Government of Ontario will bring forward Phase 3 regulations in Fall/Winter 2024-2025.

    Remaining priorities OREA will be advocating for include:

    • Introducing a new two-year mentorship and articling requirement for new registrants, providing practical training.
    • Rules for new administrative money penalties for minor, black-and-white infractions, such as an advertising violation.
    • Eliminating the outdated auctioneer exemption loophole.
    Learn more by reading OREA’s Phase 3 whitepaper, Continuing to Raise the Bar for Real Estate in Ontario.

1

Phase 1 - completed October 2020

The phase one implementation regulations permitted the use of Personal Real Estate Corporations (PREC). To date, there are over 10,000 REALTORS® in the province who have taken advantage of a PREC. In addition, the phase one regulations amended the Code of Ethics to permit the use of new terms to describe a salesperson and a broker. Per REBBA, a REALTOR® was either referred to as a real estate salespeople, real estate salesperson, or real estate broker. The amended Code now allows a REALTOR to be referred to as real estate agent or REALTOR®. The term REALTOR® or real estate agent is only allowed to be used by Canadian Real Estate Association (CREA) Members in good standing.

2

PHASE 2 – COMPLETED DECEMBER 2023

On July 26th, 2023, the Government of Ontario introduced their second phase of regulations addressing the following areas. TRESA officially replaced REBBA on December 1, 2023 when Phase 2 regulations came into effect.
  • Multiple and Designated Representation
  • Self-Represented Party
  • Sharing Contents of Offers
  • Written Agreements and Disclosures
  • New Consumer Information Guide
  • Code of Ethics
  • RECO’s Discipline Process

3

PHASE 3 – WORK IS UNDERWAY

Work on the third and final phase of TRESA implementation is underway, and OREA anticipates the Government of Ontario will bring forward Phase 3 regulations in Fall/Winter 2024-2025.

Remaining priorities OREA will be advocating for include:
  • Introducing a new two-year mentorship and articling requirement for new registrants, providing practical training.
  • Rules for new administrative money penalties for minor, black-and-white infractions, such as an advertising violation.
  • Eliminating the outdated auctioneer exemption loophole.
Learn more by reading OREA’s Phase 3 whitepaper, Continuing to Raise the Bar for Real Estate in Ontario.

FAQ

The Real Estate and Business Brokers Act, also known as REBBA, was the act that regulated the relations of all participants and processes of the Ontario real estate market. It was officially replaced by the Trust in Real Estate Services Act (TRESA) in December 2023.

Learn more about REBBA→
Learn more about TRESA→

→

The Trust in Real Estate Services Act (TRESA) received Royal Assent in March 2020, following years of lobbying to bring about changes to the Real Estate and Business Brokers Act (REBBA).

TRESA is being implemented in three phases. Phase 1 regulations came into effect in October 2020, and on December 1, 2023, TRESA officially replaced REBBA alongside Phase 2 regulations, making Ontario a North American leader in professional standards and ethics for real estate professionals.

Learn more about TRESA→

TRESA is being implemented in three phases:

  • Phase One of TRESA, permitting Personal Real Estate Corporations (PRECs) and new advertising terms, is in effect as of October 2020.
  • Phase Two of TRESA makes big changes, including officially renaming REBBA the Trust in Real Estate Services Act (TRESA) and is in effect as of December 1, 2023.
  • Phase Three work is underway and will continue in 2024. For the latest updates, visit orea.com/TRESA.

→

The first edition of the Act regulating the real estate market was adopted by the relevant authorities and approved by the Government of Ontario as early as 1930.

→

The governing body that controls and enforces all points of the Act is the Real Estate Council of Ontario (RECO).

Learn More About RECO→
View all FAQs

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
Ontario Real Estate Association
Facebook LinkedIn YouTube Instagram

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.

OREA AI Assistant