OREA CEO Tim Hudak Statement on the Province’s Consultations to Modernize Real Estate Act

“Ontario REALTORS have brought forward bold ideas to bring the real estate rules into the 21st century to benefit the consumer, raise the bar on education, strengthen professional standards and hold those who break the rules to the highest level of discipline.

The rules governing Realtors were set 16 years ago, when smart phones weren’t invented and fax machines were the norm. The industry has changed tremendously since then. It’s time for the legislation, as well as enforcement and education to catch up with the modern real estate market. Updating the rules will increase professionalism in our industry, which is what Realtors want and what home buyers and sellers deserve.

OREA has advocated for a review of REBBA for two years and we are thrilled the Government has listened to our advice. I want to thank Minister Bill Walker for his leadership in getting this important review underway. The review is focusing on modern business tools like personal real estate corporations to help Realtors advocate for their clients and build stronger communities.”

- Tim Hudak, CEO for the Ontario Real Estate Association