Real estate regulation update a win for the industry and consumers

The modernization of regulations governing Ontario’s real estate industry is welcomed by those in the industry and I am sure it will be embraced by the public. The first phase of the Trust in Real Estate Services Act, 2020 was implemented on Oct. 1, affecting the work of registered real estate brokerages, brokers and salespersons across the province.

Key measures include allowing real estate professionals to incorporate and be paid through personal real estate corporations (PRECs). In addition, salespersons and brokers can now use terms such as “real estate agent” and “realtor” in advertisements, reflecting the services they provide to consumers. To read more, click here.

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