TREB Provides Input on New REBBA – Now It’s Your Turn (March 15 Deadline)
With the provincial government currently consulting the public and industry on potential changes to the Real Estate and Business Brokers Act, 2002 (REBBA), TREB has submitted formal input and recommendations to the Ministry of Consumer and Government Services, which is spear-heading the consultations. Our input is based on focus group and survey feedback received from thousands of TREB Members over the past year or so.
TREB has been working hard on this file over the past two years, including serving on an OREA REBBA Task Force and ministry consultations. Most of what you’ll see in the consultation document reflects issues that the industry has been pressing the government to address.
The use of REALTORS® in real estate transactions remains high and has been consistent over the past five years, based on tracking by Ipsos commissioned by TREB.
What is The Consultation About?
REBBA was last updated 17 years ago. The government is conducting a comprehensive review of the Act to ensure that it meets the needs of REALTORS®, the public and real estate markets.
These efforts are being made to help modernize this legislation, improve industry practices, and strengthen consumer protection.
Why You Should Provide Input
This consultation process will form the basis of legislation that is expected to make significant changes to REBBA. It’s important that the Ministry hears from REALTORS® as well as the public. This is your chance to ensure that Ministry officials hear what you think, to ensure that the input they receive is balanced.
The consultation paper and TREB’s feedback addresses some critical issues including:
- Multiple representation and your relationship with consumers, including theneed to address Mandatory Designated Representation. TREB strongly believes that any solution should be flexible to ensure that consumer choice prevails.
- Offer transparency.TREB strongly believes any solution should require consent from all parties and privacy rights should be respected.
- Strong support for higher education standards and professionalism.
- The Real Estate Council of Ontario. Among other issues, TREB feels that our industry needs an ombudsperson,similar to other sectors.
- Personal real estate corporations.
How YOU Can Provide Input
Now it’s your turn. TREB Members make up 65% of all REBBA registrants in the province; it’s important that they hear from us. Providing your input and thoughts on potential changes to REBBA, 2002 by March 15, 2019 is straightforward:
- Review the Ministry’s consultation document. Answer the questions that interest you.
- Review TREB’s Submission to the Ministry of Consumer and Government Services to assist with your feedback.
- Complete this short Ministry survey.
- Send your thoughts and comments directly to the Ministry by email to [email protected]
Next Steps
TREB is working hard to ensure Member REALTOR® interests, and those of their clients, are represented on this key file. We will provide updates when available. In the meantime, TREB thanks you for making your voice heard during the government’s current consultations.
Please respond by March 15.
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