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!

December 1st - 2006

Full advertising guidelines kick in January 2007

Time is drawing near for registrants to begin complying with the REBBA 2002 advertising rules regarding the words brokerage and brokers of record.

Time is drawing near for registrants to begin complying with the REBBA 2002 advertising rules regarding the words brokerage and brokers of record. As of January 1, 2007, members will be required to use the term “broker of record”: or “real estate broker of record” to describe any broker of record referred to in any advertising. As well, all advertising referring to brokerages must use the term “brokerage” or “real estate brokerage” to describe any brokerage referred to in the advertisement.

While registrants were required to begin complying with all other advertising guidelines under REBBA 2002 on March 31, 2006, OREA was able to arrange for an extension to the compliance guidelines regarding the usage of the terms brokerages and brokers of record until the end of this year. This was a major victory for OREA members giving them additional time to replace business supplies as they ran out rather than having to throw away tons of paper and millions of business cards.

Terms phase out
Another important date for registrants is April 1, 2008 when the term associate broker can no longer be used in advertising. Under the new Act all registrants fall into one of three categories: brokerage, broker or salesperson.

The following examples from the advertising guidelines section of the Guide to REBBA 2002 show the correct way to identify registration status as well as the proper way to use the terms brokers and brokerages in advertising as of January 2007:

Salesperson:
Mary Smith, Salesperson
Mary Smith, Real Estate Salesperson
Mary Smith, Sales Representative
Mary Smith, Real Estate Sales Representative

Broker:
Mary Smith, Broker
Mary Smith, Real Estate Broker
Mary Smith, Associate Broker (until April 1, 2008)
Mary Smith, Associate Real Estate Broker (until April 1, 2008)

Broker of Record:
Mary Smith, Broker of Record
Mary Smith, Real Estate Broker of Record

All advertising referring to brokerages must use the term “brokerage” or “real estate brokerage” to describe any brokerage referred to in the advertisement. For example:

Smith Professionals Ltd., Brokerage
Smith and Jones, Brokerage
Brenda Smith, Brokerage, Broker of Record

In addition to the usage of the terms brokerage and broker of record, registrants must clearly and prominently identify themselves in all advertising using their registered names. Terms such as sales agent, sales associate, sales or real estate consultant and agent are also not permitted. You can see the complete advertising guidelines link on www.reco.on.ca for more information.

Also, to help members understand the new advertising rules, OREA has a continuing education course called, Getting It Right the First Time: Advertising Guidelines for the R.E. Professional. This three-hour seminar gives an overview of specific sections of the Competition Act, REBBA 2002, Business Practices Act, the REBBA Code of Ethics and CREA’s REALTOR® Code of Ethics and Standards of Business Practice with regards to all advertising. For more about the advertising course, visit the continuing education section at http://www.oreacollege.com/.

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OREA forms keep pace with REBBA Canadian market both vigorous and stable

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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