Nearly 20 years after it was passed, the act governing Ontario’s real estate industry is getting an update. The government introduced the Trust in Real Estate Services Act, 2019 in the Ontario legislature on Tuesday.
The Ontario Real Estate Association (OREA) is calling on the federal government to “reverse detrimental policy changes that... have made it harder for families to borrow responsibly in order to purchase a home.”
A recent survey found that nine-in-10 Ontarians aged 30 to 39 and 88 per cent of those 60 plus, agree or somewhat agree that owning one’s own home is more difficult for young people now than it used to be.
OREA is commending the Ontario government for introducing real estate legislation that tackles conflict of interest situations and consumer confusion that can arise in the current multiple representation system.
A recent livestreamed event was designed to show members and the public that OREA is taking the gloves off when it comes to dealing with government policies and with the Real Estate Council of Ontario (RECO).
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
REM is independently owned and operated, and is not affiliated with any real estate association or board.