BREAKING NEWS: TRESA in Effect

BREAKING NEWS: TRESA in Effect

Important changes in real estate come into effect on December 1 2023.

Real Estate Business Brokers Act REBBA 2002 has been updated and will now be called TRESA – Trust in Real Estate Services Act. These updated changes are mandated by the Ontario government and are important to both buyers and sellers of real estate in Ontario.

Check out our quick video:

Buyers

For buyers these important changes include receiving an information guide on your role in the real estate transaction and what it means to be self-represented verses a client of our brokerage Royal LePAGE Locations North. As a real estate agent it means I am required to give you the statutory information guide, review it with you and sign you on as a client prior to performing any real estate service that requires me to use my industry knowledge, skill or ability that is above and beyond what would be commonly known to the public.

Sellers

As a seller, in this real estate market you will also be given this statutory information guide. Therefore, you will also have more options at your disposal when it comes to handling multiple offers. You will be signing off on important information known about your property in a disclosure document. As your designated listing real estate agent I will be detailing our marketing plans within the listing agreement and discussing remuneration as it applies to both listing and buyer agents brokerages as well as when a self represented party brings an offer.

Please feel feee to contact us to set up a discover call with me to learn more. I am very much looking forward to working with you as my client. Explore our About Us to read some of our client testimonials and learn more about our awesome team.