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personal real estate corporation


One of the most significant pieces of law affecting Realtors in Ontario received Royal Assent in March: the Trust in Real Estate Services Act, 2020 (TRESA), repealing and replacing the Real Estate Business and Brokers Act, 2002 (REBBA).


Under the new rules, real estate professionals are now able to incorporate and be paid through Personal Real Estate Corporations (PRECs), like so many other professionals in our province.


After years of lobbying for the right to incorporate, Realtors in Ontario will now be permitted to operate their business through a personal real estate corporation (PREC).