OREA concluded with the following Summary: “CONCLUSION Overhauling legislation governing an entire profession is a massive undertaking, with real estate reform work spanning several years since the Government of Ontario …
OREA: Strengthen the “Cooling Off” Period for Registration Revocations
OREA: Strengthen the “Cooling Off” Period for Registration Revocations This is the Proposal from OREA: “RECOMMENDATION #9: Increase the mandatory “cooling off” period following a registration revocation to two years …
OREA: Eliminate the Financial Incentive for Bad Behaviour
This is the Proposal from OREA: “RECOMMENDATION #8: Grant RECO the ability to order disgorgement, thereby forcing a registrant to repay all, or some, of the profits earned through a …
OREA: Deterring Bad Behaviour with Stronger Penalties
OREA is recommending stronger penalties against real estate agents. They just made this recommendation. All this is great and it makes some sense, but you do remember that the Auditor …
Designated Representatives and the Agency Appointments
With the new TRESA legislation coming into force on 1 December 2023, a number of changes were made to the practice of real estate. For agency appointments, there are now …
OREA: Proposes Specialty Certifications
OREA in its “Whitepaper” has proposed various specialty certifications. This is what OREA said: “SPECIALTY CERTIFICATIONS RECOMMENDATION #6: The Ontario Government should enact section 8 of TRESA and permit registrants …
OREA: Proposes Articling and Mentorship
This is the proposal of OREA when it comes to articling and mentorship: “RAISING THE BAR ON EDUCATION AND PROFESSIONALISM Education is integral to the real estate industry. It is …
Designated Representation Agreement Change in Schedule “A”
You will need to make this change until OREA amends the Forms. “The paragraph following paragraph #15 shall be deleted and the following shall be substituted therefore: “The Listing Brokerage …
OREA Drops Acknowledgement By SRP’s in its FORMS
OREA on 6 November 2024 advised: “Following their most recent review and careful deliberation, the Committee has decided to discontinue the following Forms, effective immediately: Comment They all dealt with …
OREA and the RECO Ombudsman
OREA is proposing the following: “BETTER REGULATOR OVERSIGHT RECOMMENDATION #4: Make RECO subject to ombudsman oversight, bringing the regulator in-line with 1,000 other government agencies and ensuring both registrants and …