TRESA INFORMATION GUIDE EXPLAINED

to discuss your home sale or purchase, call or text us today

… and start packing!

If you are selling a home, not much has changed but there are some changes with respect to offers but if you’re buying a home, there are massive changes in terms of how an agent and brokerage will be representing you and real estate relationships.

You see, most complaints at RECO, our governing council were from consumers towards agents because consumers, namely buyers, thought the agent was working in their best interest when in fact they were not. 

As a customer, there are a lot of grey areas when it comes to buyers and as of December 1st, 2023, the Real Estate Council of Ontario revamped all of the rules and changed the act to TRESA, Trust in Real Estate and Services Act, to make representation black and white and take out all of the ambiguities of the previous act. 

So as now, in the new act, customer representation is completely eliminated and all with have are clients which signed a Buyers Agreement and a Self-Represented Parties, that’s it and it’s pretty black and white.

You can download the complete TRESA Information Guide here.

to discuss your home sale or purchase, call or text us today

… and start packing!