Tags Posts tagged with "Trust in Real Estate Services Act"

Trust in Real Estate Services Act

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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.

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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).

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The OREA board landed on four bold, new ideas. Before we greenlight these programs, we want to hear from our members one last time about which new services will provide the greatest benefits.

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Entrepreneur James Zaza says that now personal real estate corporations are about to be an option in Ontario, Realtors should review their health and pension benefits.

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In November 2019, the Ontario government introduced the Trust in Real Estate Services Act, 2019, a bill proposing changes to the Real Estate and Business Brokers Act, 2002 (REBBA).

Tim Hudak is CEO of the Ontario Real Estate Association.

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TRESA will modernize Ontario’s outdated real estate rules while strengthening consumer protection and fixing the broken real estate discipline system.

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The long-awaited changes to the real estate agent and brokerage community in Ontario just had its initial release, mostly to positive reviews from the industry.

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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.