TORONTO, Ontario, October 30, 2024 - OnePoint Association of REALTORS® delegates recently participated in OREA’s REALTOR® Advocacy Day (RAD), engaging with provincial leaders and exploring key issues shaping the real estate industry. The event featured remarks from Ontario's Minister of Municipal Affairs and Housing, Hon. Paul Calandra, and Minister of Public and Business Service Delivery and Procurement, Hon. Todd McCarthy. Delegates also attended breakout sessions on Local Advocacy, Policy Influence, and Media Relations.
A highlight of the event was a review of OREA's long-standing advocacy efforts, which led to the 2020 passage of the Trust in Real Estate Services Act (TRESA), replacing the outdated Real Estate and Business Brokers Act (REBBA). TRESA’s phased implementation aims to advance professionalism and consumer protection, with Phase 3 regulations approaching. In preparation, OREA is advocating for further measures to enhance professional standards and bolster consumer confidence.
At Queen’s Park, OnePoint delegates met with Members of Provincial Parliament to discuss three key recommendations for TRESA’s final phase:
Action 1: Eliminate the Auctioneer Exemption Loophole
To better protect consumers, REALTORS® are urging the Ontario Government to remove the outdated auctioneer exemption in TRESA, requiring auctioneers involved in real estate transactions to register with the Real Estate Council of Ontario (RECO).
Action 2: Introduce a Mentorship Requirement for New REALTORS®
To promote professionalism, OREA recommends amending TRESA to require a two-year mentorship for new registrants, ensuring REALTORS® receive practical training and deliver top-tier service to consumers.
Action 3: Enable RECO to Issue Monetary Penalties for Infractions
To deter misconduct, REALTORS® propose allowing RECO to impose administrative monetary penalties for clear infractions, enabling RECO to prioritize and address the most serious violations within the profession.
REALTOR® Advocacy Day provided a valuable platform for REALTORS® to drive these recommendations forward, fostering a stronger, more consumer-focused real estate landscape in Ontario.
