FAQ

  1. What is multiple representation and why is OREA calling for its optional practice in Ontario?

  2. Why is designated representation a good practice for both REALTORS® and consumers?

  3. What happens under TRESA when a brokerage represents both a seller and a buyer in multiple representation?

  4. Where can I find the Information and Disclosure to Self-Represented Party Forms?

  5. Why is the government introducing the new consumer designation of ‘self-represented party’, effectively eliminating the customer relationship, and why is this ultimately better for consumers?

  6. How does the new self-represented party designation differ from the customer designation that currently exists under REBBA?

  7. Is there a list of activities that represents the "assistance" that is allowed to be provided to a self-represented party under TRESA?

  8. Do you have any advice on how to convert a self-represented party into a client?

  9. If there is no representation agreement with a self-represented party, are they required to sign anything during a real estate transaction?

  10. How does the transparent offer process work under TRESA?

  11. What happens if the seller decides to change their mind halfway through the transaction and goes from a closed to a transparent offer process or vice-versa? Can the buyer withdraw their offer?

  12. What types of information can a seller can disclose to other buyers during a transparent offer process transaction?

  13. What are the new rules surrounding disclosures under TRESA?

  14. What changes can we expect to the contents of written agreements under TRESA?

  15. What are common examples of disclosures in a real estate transaction and are there any new disclosures that are required to be made under the Act?

  16. What is the new information guide and when should I give it to my real estate consumer?

  17. Where does the information guide come from, and do real estate consumers have to acknowledge its receipt in any way?

  18. What are some of the changes that we can expect from the new REALTOR® Code of Ethics under TRESA?

  19. What is the significance of TRESA regulations, not only for Canada, but specifically the province of Ontario?

  20. How is the registration status different under TRESA?

  21. How is the registration status different under TRESA?