Released today, OREA’s Vision for a Modern REBBA: Getting to the Highest Professional Standards in North America outlines 28 recommendations for modernizing real estate rules and ensuring that the REALTOR® at your side during the biggest transaction of your life has the highest professional standards, training and modern tools in North America.
OREA is urging you to email your MPP: https://www.rebbareform.ca/action.html
Part 1: Less Red Tape, More Consumer Choice
- Let consumers choose the real estate professional they want to work with
- Keeping home owners in the driver’s seat when it comes to transparency
Part 2: Strong Business Environment
- Fair tax treatment for real estate professionals
- Cut real estate red tape on real estate brokerages
- Reduce the phantom offer paperwork burden
- Say ‘no’ to tico double registration
Part 3: Modern Real Estate Rules
- Review term limits for Buyers and Seller contracts
- Replace the term “salesperson” with “agent”
- Replace the term “registrant” with “licensee”
- Fee increases on registrants – make it the minister’s call
- Greater transparency for the regulator
- Create an internal RECO Ombudsman
Part 4: Enhanced Professionalism
- Specialty licensing classes for registrants
- More Brokerage mentor-ship of students in the articling phase of their education
- Stand-alone specialty courses for new registrants
- Tougher final exam
- Implement pass/fail for continuing education
- In-class exams for continuing education
- Ensure a fair offer process
Part 5: Better consumer protection
- Prohibit the use of escalation clauses
- Eliminate the two-tier system of consumer protection
- Protect consumers against unlicensed operators
- Implement a “cooling off” period for license revocations
- Remove barriers to RECO using investigative powers
- Kick violent or fraudulent offenders out of the business
- Eliminate the financial incentive for bad behaviour
- Allow administrative monetary penalties to be used for minor infractions
To learn more, or to email your MPP, visit: https://www.rebbareform.ca