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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!

May 4th - 2004

CREA seeks input on changes to its code of ethics

Proposed changes to the CREA Code of Ethics might subject REALTORS to double jeopardy, a concern OREA will relate to the Canadian Real Estate Association task force considering those changes.

Proposed changes to the CREA Code of Ethics might subject REALTORS to double jeopardy, a concern OREA will relate to the Canadian Real Estate Association task force considering those changes.

The CREA task force has put together many proposed changes to the CREA Code of Ethics, the Standards of Business Practice and the related compliance procedures and is seeking member, board and association input before finalizing their recommendations. The final recommendations of the CREA task force will be submitted for approval at a CREA Special Assembly to be held in late October.

“In Ontario, REALTORS are already subject to RECO's Code of Ethics which is very similar to CREA’s existing code,” explained Laura Leyser, OREA President. “We do not want to see members disciplined by both RECO and their board on the same matter.”

While all licensed real estate professionals in Ontario are bound by the RECO Code of Ethics, the CREA Code of Ethics is a separate code which applies only to REALTORS – members of organized real estate. 

In response to this CREA request, OREA’s Legal Resource Committee will be reviewing all of the proposed changes and will be forwarding its comments to the CREA Task Force. Also, Ontario’s real estate boards have been asked to share the comments and suggestions that they will be making to the CREA Task Force, with the OREA Legal Resource Committee. 

Ontario REALTORS are also encouraged to provide their individual comments on the proposed changes.  Although there are a number of ways to correspond with the CREA Code of Ethics Task Force, the most user-friendly is on the REALTOR Link website, at http://crea.admin-services.net/ethics/index.htm. There, you can provide your comments on the various proposals directly to CREA, by e-mail.

Proposed changes to the CREA Code of Ethics and Standards of Business Practice range from rewording and updating the purpose of the code to reorganizing and clarifying the interpretations of many sections. 

One of the main reasons for the overhaul of the Code was to make it simpler and easier not only for REALTORS, but for the public to understand its purpose. The task force commented that the current code is “dated, with wording that is somewhat pretentious…the current code does not resonate with the public.”

The goal of the task force was to create a new code of ethics and standards of business practice that would focus on the REALTOR, but also define the service expectations that fall under the REALTOR trademark umbrella. The proposed re-wording of the CREA Code of Ethics reads:

“The exclusive designation for a member of The Canadian Real Estate Association is the trademark REALTOR. It symbolizes a commitment to competence, service and professional conduct. In the quest for these high standards, REALTORS in Canada have been bound together by a Code of Ethics since 1959.

As REALTORS, we accept a personal obligation to the public and to our profession. The Code of Ethics of The Canadian Real Estate Association embodies these obligations.

As REALTORS, we are committed to:

  • High levels of competent service
  • Honesty and integrity in business dealings
  • Co-operation with and fairness to all concerned
  • Accountability through a set of standards

To meet their obligations, REALTORS pledge to observe the spirit of the Code in all of their activities and conduct their business in accordance with the Standards of Business Practice.”

There are many corresponding changes being proposed for the Standards of Business practice.

View all of the suggested changes online at www.realtorlink.ca, in the section called “Ethics Task Force Recommendations.”

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CREA seeks input on changes to its code of ethics Affordability outlook good for housing markets in 2004

For more information contact

Ontario Real Estate Association

Jean-Adrien Delicano

Senior Manager, Media Relations

JeanAdrienD@orea.com

416-445-9910 ext. 246

Ontario Real Estate Association
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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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