Proposed legislation to clearly define the rules on multiple representation situations in real estate deals in Ontario has the backing of the Toronto Real Estate Board.
“TREB is pleased that the Ontario Government is listening to the advice provided by the industry and is working to bring forward a workable solution. Throughout 2017, TREB has demonstrated its commitment to consumer protection and efficiency for real estate transactions in meetings with the Ministry of Government and Consumer Services, and provided input on their ongoing consultations regarding potential changes to REBBA,” said TREB President Tim Syrianos.
The board’s support follows that of other bodies including the Ontario Real Estate Association and the Real Estate Council of Ontario.
The Ontario government’s proposals also aim to provide better consumer protection and stronger penalties for unethical behaviour, although full details are yet to be finalised.
“The vast majority of TREB Members are ethical and comply with the Real Estate and Business Brokers Act. TREB looks forward to continuing to work with the province on all aspects of this and other important issues under REBBA such as raising educational standards and requirements,” said Syrianos.
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