Looking at the new TRESA legislation, there are several different purposes and objectives. There are effectively, three phases: Phase 1 This was introduced in order to permit the real estate …
TRESA: Buyer Services
Under the TRESA legislation, services to be provided are to be spelled out. That seems fine, According to OREA, for Buyers, it’s all in the Buyer Representation Agreement (BRA). According …
Disclosure Documentation for Material Facts under TRESA
There have been some changes with respect to material fact disclosure under TRESA. First, let’s go to the definition: “material fact means, with respect to the acquisition or disposition of …
The Long List of Trivial Services
List for Schedues Some Agents are looking to ensure that their list of services outlined in Schedule “A” to either the Listing Agreement or the Buyer Representation Agreement is lengthy. …
Pre-listing Home Inspection (under TRESA)
You will recall that I had suggested some arrangements to be set in place to assist in having Pre-listing Home Inspection continue in face of the new rules set out …
TRESA: Using Schedule “A” to the Listing
OREA has now drafted up a Schedule “A” to be attached to a Listing. This arose in response to the requirement for clarity when it comes to “services” as set …
TRESA: Services as Outlined by RECO
Under consideration at the present time is the description of real estate services that should be outlined in the Listing Agreement and the Buyer Representation Agreement. Here’s a reference to …
TRESA: Unprofessional Conduct
The new provision under TRESA states as follows: “Unprofessional conduct, etc. 2. A registrant shall not engage in any act or omission that, having regard to all of the circumstances, would …
TRESA: Conduct Unbecoming!
This is actually not new, although some registrants are coming across it for the first time. Under the Code which applied during REBBA, 2002, the following provision was in force: …
TRESA: Business as Usual
TRESA: Now Lesser Obligations to Disclose To some extent, the new TRESA legislation is confusing because agents didn’t seem to know, appreciate and apply the law as it stood. Now, …