TRESA Update: Message from the Registrar

It has been five months since the updated laws governing real estate trading in Ontario came into effect, aiming to strengthen consumer protection and enhance professionalism in the sector.

As you continue to navigate the changes brought about by TRESA and actively engage with clients and prospective clients under the updated laws, it is important that you stay informed and up-to-date with the latest regulations.

Since Spring 2023, RECO has provided extensive information to explain and clarify the changes. This information is consolidated in one section of RECO’s website, TRESA Explained.
  

Priority: Complete RECO's CE Course - Introduction to TRESA

To ensure that you are fully equipped to continue operating under the updated laws, I urge you to prioritize completing RECO's CE Course: Introduction to TRESA. The course provides a comprehensive overview of Phase 2 legislative reforms and focuses on how the changes impact the
day-to-day activities of real estate agents and their interactions with buyers and sellers.

This course has received high ratings from those who have completed it, with many stating they review and reference it regularly. It will take approximately three hours to complete, a small commitment to ensure you are fully aware of the new laws.
  

Frequently Asked Questions (FAQs) about TRESA

RECO has added a new resource to the TRESA Explained section of its website: TRESA FAQs. This represents some of the most common questions RECO has received since the implementation of TRESA.

In addition to reviewing the TRESA FAQs carefully, it is important to remember the following:

• The majority of the legislation that existed under REBBA continues to apply under TRESA. Registrants should refer to the information available to them through RECO and their brokerage for important changes, such as designated representation or the removal of customer relationships, among others.

• Read RECO’s bulletins which have been developed to provide helpful information about your duties and obligations under TRESA and its regulations. As additional bulletins or other new information becomes available, RECO will alert you via email.

• While there are many opinions about how TRESA can or should be applied, email any questions or concerns not addressed in the RECO materials to information@reco.on.ca. Please include “TRESA Question” in the subject line.