Latest Bulletins

Last week, OREA introduced The Hub – the official OREA Forms Knowledge Hub.

The Hub is your one-stop shop for all things Standard Forms. You’ll find helpful guidance pieces, videos on hot topics like APS deposits, Representation Agreements, designated and implied representation, and much more.

The OREA Standard Forms team is always adding new information to The Hub. In fact, we’ve added four new guidance pieces since our launch last week! Be sure to bookmark the page and check back often.

If you have any questions, please don’t hesitate to reach out to the Standard Forms team at StandardForms@orea.com. 

- The OREA Standard Forms team

With Realm open, walking through this guide is pretty easy…

 And for dealing with the new mandatory fields for broker loading listings (for example, roof or foundation types) choosing “unknown” works and is better than choosing a product type you aren’t sure about and then finding out it isn’t that one later. The TRREB MLS data sheets don’t seem to have all of the fields on them that Realm asks for when loading a listing.

Accessing Stratus through REALM™

Starting tomorrow, Tuesday, June 4 at 10:00 a.m., REALM™ will be the default MLS® System for Stratus users.

When Stratus users login to the TRREB Home Page and click on Search Properties, you will go directly to REALM™.

Once in REALM™, you will see this banner at the top of the page. You can still access Stratus until Tuesday, July 30 by clicking on the banner.

After Tuesday, July 30, 2024 REALM™ will officially replace Stratus. This means you will no longer have access to Stratus after this date.

Make the Transition Today

For a smooth transition, get ahead of the Stratus sunset date and follow these steps now to keep your data. You can also consult this handy transition guide.

  1. Move your contacts from Stratus to REALM™. Read more.

  2. Import your Favourite Listings and Listing Carts to REALM™. Get started.

  3. Transfer your Saved Searches to REALM™. Learn how.

Get Trained

Save your spot for in-person learning:

Register for Webinars:

Download the REALM™ App

Stay ahead of your business needs with this MLS® System while on the go. Head over to the App Store or Google Play to download the REALM™ mobile app.

More Resources

Need Support or Have a Question?

We're here for you. Contact the Help Desk at 416-443-8111 or email helpdesk@trreb.ca.

March 19th, 2024

Update on OREA Standard Forms and Clauses

Based on Member feedback and conversations with RECO, the OREA team has updated select Standard Forms and Clauses and added several new ones to ensure greater functionality for REALTORS®, while still maintaining regulatory compliance. With TRESA Phase 2 now in effect, OREA is committed to ensuring the highest standards of professionalism and consumer protection.

On February 27th, we shared that the updated Forms and Clauses were available on orea.com, and we’re now happy to share that all our licensed third-party providers have the fillable new and updated Standard Forms available on their websites.

A summary of the recent updates can be found below and on our website:, 

  • New Form 299 Seller Disclosure – Latent Defect(s);

  • Updated, user-friendly “Confirmation of Co-operation and Representation” – buyer/seller and landlord/tenant;

  • New Multiple Representation Acknowledgement & Consent Disclosure Forms;

  • New Form 108 Notice of Revocation to be used in conjunction with the Disclosure Clause, DISC-1 No Offer Content Disclosure (more details can be found here); and

  • Updated 2024 Summary of Revisions detailing all Forms and Clauses changes.


Webinar Recordings

The two latest OREA Forms and TRESA webinar recordings are available to watch on MyAcademy. In these sessions, OREA’s REALTOR® in Residence, Ray Ferris, reviews the new and revised Forms and Clauses in detail, and answers Members’ questions.

Please reach out to the Forms team at StandardForms@orea.com for inquiries.

Thank you,

January 17th, 2024

ORWP Flexible Option and Accommodation

If you have existing health insurance coverage and are at risk of losing the benefits under your existing healthcare plan, which are better than what is offered by the OREA Ontario REALTOR® Wellness Plan (ORWP), here are two options for you to consider.

  1. Flexible Option:

    This Flexible Healthcare Option is available for Members with existing healthcare coverage who don't want the ORWP to impact the claiming process. You can choose this during your enrollment on the OREA Comprehensive Benefits Solutions Member Portal, where you can also find more information.

  2. Formal Request for Accommodation:

    This option is available for those with existing insurance coverage who may lose benefits because of a clause in your current contract or policy, which expressly states that you can only participate in one benefits plan. Email the details of your provider's current policy to ProgramAdministrator@orwp.ca.

The specific requirements for 'Accommodation' are as follows:

You are subject to an exclusivity requirement to participate in only ONE insurance plan; and/or

Your current insurance coverage offers better benefits than the ORWP and will be terminated in the event you become insured under the ORWP; and/or

Your previously approved financial assistance through a Government Plan, Government Agency, and/or pharmaceutical patient support program will terminate if you have coverage through the ORWP.

The accommodation process and policy are available here. Click the Accommodation Policy on the left side of the screen, then scroll to the bottom. OREA Member login is required. The accommodation application form is on the OREA Comprehensive Benefits Solutions Member Portal.

If you have questions about the OREA ORWP, visit this link, call (416) 445-9910 or email: ProgramAdministrator@orwp.ca.

January 8th, 2024

SIGNING IN TO TRREB'S MLS® SYSTEM IS CHANGING

New Authentication System

In the coming weeks, TRREB is introducing a new authentication system so you can securely access the tools and services you use every day. This new process will also replace the current Clareity authenticator app.

The day you transition to the new authentication system will vary among TRREB Members to ensure a seamless transition.

What's changing?

  1. When you visit torontomls.net, you will see a new login page. Enter your User ID (Member Number)





  2. Then, you are redirected to the original login page to authenticate and start the transition to the new system.





  3. Select Click Here to Log On to move to the next page and choose a new PIN. You can pick the same PIN that you are currently using.






  4. After selecting Submit, you will land on the TRREB Home Page, and that is it, you are now migrated to the new authentication system. At this point you no longer need your Clareity authenticator app.




The next time you log in to torontomls.net, you must use your User ID, new PIN, and the One-Time Code sent to your mobile phone number that is on our records.

A new field will also appear to enter the One-Time Code.

If you need to update your mobile phone number, head to Manage My Profile before the new authentication system launches in the new year.

January 8th, 2024

REALTOR® COOPERATION POLICY

Here is the outline of the new CREA “Realtor Co-operation Poilicy”, changing how exclusive listings must be dealt with across Canada, starting now.

 Included in this email is a copy of the Seller Acknowledgement and Consent document any Seller wanting to opt out of having their home listed on MLS within 3 days of marketing a sale must sign.

 If they do not sign the form, their listing must appear on an MLS within 3 days of any public marketing of the home.

Download: Cooperation Disclosure and Consent Form

Download: WHAT IS THE REALTOR® COOPERATION POLICY AND THE REALTOR® CODE

January 3rd, 2024

REALTOR® COOPERATION POLICY

New REALTOR® Cooperation Policy Now in Effect

Cooperation between REALTORS® is at the heart of every real estate transaction. Not only does it maximize opportunities to bring together property buyers and sellers, it also promotes the value of REALTORS® as trusted real estate professionals.

Starting today, the new "Duty of Cooperation" (Article 30 of the REALTOR® Code and MLS® Rule R-440) is in effect. The REALTOR® Cooperation Policy requires you to place your property listings on an MLS® System within three days of public marketing, unless an exemption applies. MLS® Rule R-440 will also require disclosure of the date in which your property will be published to the MLS® System.

Under the new policy, you are required to:

  1. Place your property listings on an MLS® System within three days of public marketing, unless an exemption applies.

  2. Inform your Seller clients of the benefits of marketing their listing on an MLS® System. If the Seller decides to forego this option, they now must confirm their decision in writing.

Learning More

Visit CREA.ca/REALTORCooperation to watch videos and read the handy FAQ and infographic.

You can also review a template of a REALTOR® Cooperation Disclosure and Consent form for sellers who do not wish to publicly market their property.

January 2nd, 2024

We’re happy to be kicking off the new year with the much-anticipated Ontario REALTOR® Wellness Program (ORWP). The ORWP provides industry-leading insurance and wellness coverage and is now available to all Members who are up to date on their OREA Dues, inclusive of the ORWP premium.

Please see below for a few updates and reminders to start the year:

  • ORWP Member Portal: The ORWP Program Administrator, Comprehensive Benefits Solutions (CBS), will start emailing registration links to Members who paid their OREA Dues on or before December 31, 2023, beginning January 8, 2024, and they will continue to do so throughout January as Members pay their Dues. When they have paid Dues and get access to the portal, Members will be able to retroactively submit eligible claims incurred.

  • Insurance and Healthcare Coverage in January: We are happy to share that our insurance providers will offer full insurance and healthcare coverage for all eligible OREA Members from January 1, 2024, until January 15, 2024, in anticipation of Members paying their 2024 OREA Dues by January 15, 2024 – after which time the standard Black Out period will apply.

  • Flexible Coverage Option: The OREA team has found a solution for Members with existing healthcare coverage who don’t want to change their claiming process. This flexible option will not need to be declared to your existing provider and will be available to you as you join the Member Portal. Further detail will be provided by CBS in your Welcome Email.

  • Enhancement Options: The enrollment window to add eligible dependents and/or enhance coverage will be open from as early as January 8, 2024, until February 29, 2024. Members can review the complete details of enhanced coverage options at www.orea.com/orwp.


Wondering how the Program works and how you can start benefiting? Dive into the details of the ORWP by visiting www.orea.com/orwp. For specific coverage questions – including travel insurance and upgrading plans - please email the ORWP Program Administrator at programadministrator@orwp.ca.

Wishing you and your loved ones a healthy and prosperous new year.

Sincerely,
The OREA ORWP Team

December 1st, 2023

Today marks a historic moment for Ontario REALTORS®: the Trust in Real Estate Services Act (TRESA) has finally arrived, officially replacing the Real Estate and Business Brokers Act (REBBA) as the legislation governing our profession.

OREA has put together a variety of resources to help you understand the changes TRESA makes, and how they will affect your day-to-day business. You’ll find a full list with direct links below.

Most importantly, all 2024 OREA Forms and Clauses and the Annual Summary of Revisions file are live at orea.com/StandardForms.

When we began advocating for a new REBBA in 2016, we knew we needed to make big changes, and so we set a big goal: ensuring the REALTOR® at your side during the largest financial transaction of your life, has the highest professional standards, training, and modern tools in North America.

Today, TRESA makes that goal a reality and includes tougher enforcement for bad actors who break the rules and erode confidence in the profession. And as always, OREA has your back as we navigate these new changes, together.

Sincerely,

Tania Artenosi
2023 OREA President

TRESA Forms Resources

  • Watch the recording of “2024 Forms Annual Update & TRESA” from Nov. 29th, with OREA’s Head of Forms, Cassandra Agnew Walker here​​​​​​

  • Get your TRESA-related Forms questions answered in real-time on December 7th, during a special episode of The Standard with OREA’s Head of Forms Cassandra Agnew Walker and Senior Manager Kelly Billings: orea.com/TheStandard (registration required)


*All access to Forms Webinars must be made through your Member login only. This OREA resource is for Member participation.

TRESA Member Guidance 

  • Read your frequently asked questions and OREA’s answers: orea.com/tresa?#faq​​​​​​​

  • To keep updated with the latest TRESA news, and access new Member Guidance resources as they become available, visit: orea.com/TRESA


Other Resources


TRESA’s History

  • Learn more about the history of TRESA, and the key role Ontario REALTORS® played in bringing about the new legislation: orea.com/advocacy/Path-to-TRESA​​​​​​​

  • The ability of Ontario REALTORS® to form Personal Real Estate Corporations (PRECs) comes from TRESA Phase 1, which came into force on October 1, 2020: orea.com/PRECs​​​​​​​

  • Since 2016, Ontario REALTORS® have been advocating for REBBA reform, including for higher professional standards and modern business tools: orea.com/advocacy/REBBA

November 27th, 2023


Your Member Dues – Deadline Extended

The deadline for your TRREB, OREA and CREA annual dues and fees for the membership year January 1 to December 31, 2024 is extended.

You now have a grace period to pay your dues and fees by January 15, 2024.

In the first week of December, you will receive one consolidated invoice that includes TRREB, OREA and CREA annual dues and fees.

To avoid any disruption in accessing the MLS® System and the $100.00 + HST reinstatement fee, you are required to pay your invoice by the deadline.

Dual Members will continue to pay OREA and CREA through their home Board.

Look out for the invoice in your inbox in the first week of December.

November 15th, 2023


TRESA implementation is right around the corner, so I am sending out all of the bulletins provided by RECO that explain all of the things expected of you, how the world of real estate will change as of December 1st, and what you will be required to do with clients, forms, etc.
 
I will be holding open training sessions every Wednesday at 10a.m-noon here at the office until everyone has been through one and understands how to move forward.

Attendance is mandatory.
 
The new legislation gives Brokerages the option of picking one type of Representation. As of December 1st, we will be moving to Designated Representation contracts with clients. This will greatly simplify the transition, and will greatly decrease the incidence of Multiple Representation going forward, a benefit to your clients and to you as an agent.
 
Our office will be creating a new Schedule B for listings that incorporates all of the new rules for disclosure.
 
New OREA forms will be available soon. When they are, I will get them out to you, and we will train on how to use them.
 
You will also want to sign up for one of the video seminars offered on TRREB or through OREA.

October 30, 2023

New TRESA resources are now available

Trust in Real Estate Services Act, 2002 (TRESA)

With Phase 2 legislative reforms coming into effect on December 1, 2023, RECO is pleased to share the first group of new bulletins to help you prepare for the changes.

 

The bulletins RECO released today include: 

 

  • Customer relationships not permitted: This bulletin explains the elimination of customer relationships and transitional rules that apply to customer agreements entered into before December 1, 2023. 

  • Representation: This bulletin explains brokerage representation, designated representation, and when multiple representation arises.  

  • Number and content of competing offers: This bulletin explains obligations related to communicating the number of competing offers and, with the seller’s written consent, sharing the content of competing offers. 

 

If you haven't already, please browse additional resources on the TRESA Explained page of RECO's website. 

 

As additional bulletins or other new information becomes available, RECO will alert you via email. 

 

Questions?

Send an email to information@reco.on.ca Please be sure to include “TRESA Question” in the subject line.

August 21, 2023

TRUST IN REAL ESTATE SERVICES ACT (TRESA) - Video Series Launch

We recently learned that the Phase 2 regulations in support of the Trust in Real Estate Services Act (TRESA) will come into force on December 1, 2023. OREA has your back in keeping you up to date on how these new rules will impact you and your business.  

OREA has launched a new set of informational videos, featuring REALTOR® TRESA experts answering your most asked questions about the new TRESA regulations and the key changes impacting REALTORS® once the law is officially implemented.

hese videos answer key questions for REALTORS®, such as:

·    What type of information must be disclosed in the new open offer process?

·    What is the new Information Guide and when do I provide it to a consumer?

·    What is Designated Representation and why is it now part of the TRESA regulatory update?

·    Is the new consumer designation of “Self Represented Party” different from what is currently referred to as a “customer”?

·    And more!

The entire video series can be found at orea.com/TRESA.

April 24, 2023

A New ‘Duty of Cooperation’ Added to the REALTOR® Code

Ottawa, ON, April 24, 2023 – Having access to the most comprehensive data is a vital part of any real estate transaction, and Canadian home buyers and sellers were given another reason to believe their interests will be better served with the adoption of a new ethical requirement aimed at increasing the efficiency, value and benefits that MLS® Systems provide.

Over the last few years, the Canadian Real Estate Association (CREA) heard how consumers were becoming increasingly frustrated by the rising misuse of marketing tactics that were keeping listings off MLS® Systems, limiting the exposure of available properties to REALTORS® and their buyer and seller clients.

To address this growing concern, delegates at CREA’s Annual General Meeting last week voted in favour of adding a new “Duty of Cooperation” to the REALTOR® Code which is accompanied by a REALTOR® Cooperation Policy. The core element requires that residential listings be placed on an MLS® System within three days of public marketing of a property. Public marketing is any type of marketing of a listing to the public or to anyone not directly affiliated with the brokers and licensees of that brokerage.

“We engaged in many discussions and consultations with membership to help us land on this REALTOR® Cooperation Policy as a solution to growing concerns amongst consumers in the market, says Jill Oudil, Immediate Past Chair of CREA. “Cooperation is central to what we do as REALTORS® and protecting and enhancing the comprehensiveness of MLS® Systems is in the best interest of the market. The REALTOR® Cooperation Policy ensures REALTORS® have access to the most comprehensive property data for their clients, and at the same time it maximizes selling opportunities for home sellers. This exciting addition to our REALTOR® Code not only benefits REALTORS®, it’s in the best interest of Canadian home buyers and sellers.”

August 01, 2023

TRUST IN REAL ESTATE SERVICES ACT (TRESA)

Buying or selling one’s home deserves the expertise of a REALTOR® with the highest professional standards. TRESA replaces REBBA, and makes Ontario a North American leader in professional standards for real estate professionals. Learn more about The Path to TRESA.

What's the Latest on TRESA?

On July 28th, 2023, the Government of Ontario introduced their second phase of regulations targeting:

  1. Multiple and Designated Representation

  2. Self-Represented Party

  3. Open Offer Process

  4. Written Agreements and Disclosures

  5. New Consumer Information Guide

  6. Code of Ethics

  7. RECO’s Discipline Process

The implementation of the TRESA phase two regulations will come into force on December 1, 2023. Check back often for new TRESA updates, helpful resources and important information on Standard Forms. The Government of Ontario outlines the regulations here.

PHASE 2 UPDATES EXPLAINED

TRESA and Standard Forms

The new TRESA changes come into effect on December 1, 2023, and work is underway to create new Forms and revise up to 100 existing Forms. The Standard Forms team will be developing educational guidance specific to the new TRESA rules, to ensure Members are prepared for the changes ahead.

Updates on mandatory documented disclosures and acknowledgements:

  • Differences between the old and new OREA Forms

  • Clarifying terminology to describe brokerage/consumer relationships

  • New Regulator Forms, like the “Information Guide,” that will be provided to clients and self-represented parties, and how they will affect Member trading 

  • Necessary updates to OREA Forms and Clauses to ensure TRESA compliance

Stay tuned for more details on Forms resources, including webinars, new courses, and educational guidance in Fall 2023.

TRESA Regulations Seminar

OREA is excited to offer Member Boards and brokerages the opportunity to schedule virtual (preferred) or in-person TRESA seminar sessions, featuring industry experts. These sessions will share information on the following:

  • The history of TRESA (including Personal Real Estate Corporations)

  • A new model of designated representation

  • The new “principle-based code of ethics”

  • New options for consumers when interacting with REALTORS®, including as “self-represented parties”

  • A new consumer information guide

These virtual sessions are 1.5 hours long. The cost is free for Member Boards and $200 per brokerage.

For more information and to book a session, contact REALTOR® and TRESA expert, Ray Ferris, via email:

SCHEDULE THIS SEMINAR

March 27, 2023

Government of Canada Introduces Amendments to Foreign Buyer Ban

On Monday, the Government of Canada announced a series of amendments to the foreign buyer ban — officially called the Prohibition on the Purchase of Residential Property by Non-Canadians Act — to expand the exceptions to the regulations, some of which have become an unintended thorn in the sides of developers across the country.

The four amendments to the foreign buyer ban are effective immediately, as of March 27, 2023, and are as follows.

The Foreign Control Threshold is Now 10%

While the foreign buyer ban was originally created with individual Canadians and the resale market in mind, a less-discussed aspect of the ban was its effect on the development industry, particularly with the legislation deeming an entity as foreign if non-Canadians owned 3% or more of it.

In the short months since the ban came into effect on January 1, this 3% has been repeatedly cited by developers as overly-restrictive, specifically for real estate investment trusts (REITs). With the amendment, the maximum amount of non-Canadian control in a REIT subject to the foreign buyer ban is now 10%.

Purchasing for the Purpose of Development

Perhaps even more of a relief is the new exception that allows non-Canadians to purchase residential property, if the purpose is development. Previously, this exception was only applicable to publicly-traded corporations.

According to a CMHC FAQ, “development” does not include “the mere purpose of leasing or renting the property out to tenants or otherwise managing it as a rental property as part of its portfolio.” Repairs, renovations, and remodelling also do not count as “development,” but the CMHC notes that some expansions or remodels that are “tantamount to the construction of a new building or a change of use” — such as one that would create a new residential property — do, and will now be allowed.

The Ban No Longer Applies to Vacant Land

Under the previous regulations, vacant land zoned for residential use or mixed-use with residential could not be purchased by non-Canadians.

The Government of Canada is now repealing that restriction — Section 3(2) — and with the change, non-Canadians can now purchase vacant land zoned for residential use and use it for any purpose.

The Ban No Longer Applies to Work Permit Holders

A common criticism of the foreign buyer ban has been that it seemingly contradicts the federal government’s lofty immigration goals, or even gives the appearance of xenophobia, by limiting the ability of those who may be looking to settle down in Canada from buying homes.

Now, those who hold a work permit or are authorized to work in Canada are allowed to purchase residential property, so long as they have 183 days of validity, or more, remaining on their permit, and have not purchased more than one residential property.

TORONTO HOMEOWNERS IMPORTANT UPDATE

IMPORTANT UPDATE:

If you, or your clients own a home in the City of Toronto, the deadline for the mandatory Declaration of Occupancy Status to be filed is Thursday Feb 2nd.

The declaration covers the previous calendar year. If not filed, the City can arbitrarily assess the Vacant Home Tax, and that assessment sits as a lien on title.

If you did not get a declaration form, you can do yours on-line at : https://www.toronto.ca/.../property.../vacant-home-tax/

There is also an implication, going forward, for real estate deals. We will need to add a clause for our buyer deals that the Seller warrants they have made the correct declaration to the City, and will provide the buyer with a copy prior to closing.

From the City of Toronto website:

"Vendors should provide a copy of the completed and filed property status declaration to the purchaser.
Vendors should provide a statutory declaration at closing confirming the filed property status declaration is true and correct".

Jan 31, 2023

FREE INTERBOARDING

TRREB Helping REALTORS® Succeed With Free Interboarding

As a value add to REALTORS® looking to provide the greatest exposure to their clients' properties, TRREB is offering free interboarding to the TRREB MLS® System for all listings in the Barrie and Lakelands areas.

Starting January 30th, Members of any local real estate board In Ontario listing property in the Barrie and Lakelands areas will be able to list these properties on TRREB's MLS® System through TRREB – at no additional cost.

The goal of this pilot project is to find ways to unify listing data and reduce added costs to REALTORS® in providing the greatest exposure for the clients' properties, and highest level of service to their clients.

Our Partner Board, the Durham Region Association of REALTORS® (DRAR), will be offering a similar service for REALTORS® listing properties in the Quinte, Peterborough and Kawartha Lakes areas.

As a TRREB Member, you'll benefit from a greater breadth of listings through Central and North Eastern Ontario.

Jan 19, 2023

Please read this guideline carefully, and download the Certificate and Consent of Purchaser and Seller docs attached here. You will need to have any Buyer clients you are or will be working with fill out these forms as part of your Buyer Rep contract signing package. They must be filled out before a purchase is made. CREA has created these forms to protect agents in the event that it is discovered after a purchase that someone involved in the transaction was, in fact, a Foreign Buyer. Our office will be adding these docs as mandatory documents for all Buyer transactions beginning January 1st 2023.

Dec 22, 2022