Categories for Industry News

Residential Rent Increase for 2024

Rules for rent increase In most cases, the rent for a residential unit can be increased 12 months after either: the last rent increase the date the tenancy begins The landlord must give a tenant written notice of a rent increase at least 90 days before it takes effect. The proper forms for this notice ...

Trust in Real Estate Services Act (TRESA 2002) Replaces Real Estate Business Brokers Act (REBBA 2002)

Effective Dec. 1st, 2023 – Significant changes for real estate services in Ontario Trust in Real Estate Services Act, 2020, S.O. 2020, c. 1 – Bill 145 (TRESA, 2020) On March 4, 2020, the Ontario Trust in Real Estate Services Act, 2020 (TRESA) received Royal Assent, amending the Real Estate and Business Brokers ...

Brokerage Commissions and Fees

When charging for services in relation to a trade in real estate, a brokerage can use an agreed fixed amount, a percentage of the sale price, or a combination of the two. Before working with clients or customers, it is important that REALTORS® clearly communicate the fee structure and rate they will charge, ...

Do I Have to Sign a Buyers Representation Agreement?

When you are looking to buy or sell a property or business with a registered real estate salesperson or broker, you may be asked to sign a buyer or seller agreement. Simply put, a buyer’s representation agreement is a contract signed between a prospective real estate buyer and a real ...

Is It Okay to Have Multiple Real Estate Agents?

Can a buyer work with multiple real estate agents? Yes, a buyer can work with multiple agents as long as they don’t have a written exclusive (buyer representation) agreement with an agent or an agreement for same services from multiple REALTORS®. The most common service agreement would state that a ...

CCHR – Help Stop Discrimination in Housing

The Canadian Centre for Housing Rights (CCHR) is Canada’s leading non-profit organization working to advance the right to housing. For the first 35 years of our existence – from 1987 until 2022 – CCHR was called the Centre for Equality Rights in Accommodation (CERA). The Canadian Centre for Housing Rights ...

Commission Rebates To Clients and Customers

Under the Real Estate and Business Brokers Act, 2002 (REBBA 2002), REALTORS® cannot provide any form of compensation to an unregistered third-party for activities that would be considered to be in furtherance of a trade. This restriction is explained in the Registrar’s Bulletin entitled Referral fees. However, a rebate or ...