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The Ontario Real Estate Association (OREA® ) |
OREA's Mission Statement is to: "Represent
its members and to provide a professional environment for members to
maximize business opportunities".
The OREA® Real Estate College is currently
RECO's nominee to provide Real Estate educational courses, and to
administer examinations leading to registration of salespersons,
brokers, and brokerages.
OREA® provides Real Estate Boards with
advice and support concerning day-to-day operations.
The Ontario Real Estate Association®
represents over 45,000 brokers and salespeople who are members of
Ontario's forty two (42) real estate boards. OREA® serves its members
through a variety of publications, educational programs and special
services. The Ontario Real Estate Association® provides all real estate
licensing courses in Ontario.
OREA® was founded in 1922 to organize real estate activities and develop
common goals across Ontario. These included promoting higher
industry standards, protecting the general public from unscrupulous
brokers and salespeople, and preserving private property rights.
The Ontario Real Estate Association® continually strives to improve the
image of REALTORS® by enhancing educational and professional standards.
OREA® develops and publishes standard forms, and supports educational and
charitable causes through the REALTORS Care Foundation.
- 1920 - Toronto Real Estate Board® founded; Canada's largest real estate board
- 1922 - OREA® founded
- 1997 - RECO® founded to administer
the Real Estate and Business Brokers Act (REBBA®)
- 2002 - Ontario Real Estate College® formed, assuming all the duties of the OREA® Education Department
Ontario Real Estate
Association® (OREA®)
Real Estate Council
of Ontario® (RECO®)
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The Toronto Real Estate Board (TREB) |
From Wikipedia
The Toronto Real Estate Board (TREB®),
founded in 1920, is the largest real estate board in Canada with over
28000 members.[1] TREB's Multiple Listing Service (MLS®) is shared with
boards in the surrounding area, namely the Brampton, Durham Region,
Mississauga and Orangeville Real Estate Boards.
The Toronto Real Estate Board® stretches across the Greater Toronto Area
(GTA) and surrounding townships, including:[2] Ajax, Aurora, Barrie,
Brampton, Burlington, Caledon, Halton Hills, Markham, Milton,
Mississauga, Newmarket, Oakville, Oshawa, Pickering,* Richmond Hill,
Toronto, Vaughan, and Whitby.
In addition to the MLS® , TREB® offers its members such services as:
- Professional standards and arbitration
services for members
- E-mail
- Government relations
- Member discounts through participating
partners
- Market Watch statistics
- Continuing education
- Buyer Registry Service
- RealNet Data (commercial and new
homes)
- MPAC Assessment data and Teranet (land
registry) data
- REALTOR Quest Regional Conference
- Standard forms
Toronto Real Estate Board®
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The Real Estate Council of Ontario (RECO) |
From Wikipedia
The Real Estate Council of Ontario® (RECO®)
was formed in 1997 as the delegated administrative authority under
Ontario's Ministry of Small Business and Consumer Services, to
administer the Real Estate and Business Brokers Act and protect the
public interest.[1]
Since 2002, Tom Wright has been president and CEO of RECO® , previously
serving as Registrar.[2] Allan Johnston is the current Registrar and
also serves as District 5 Director on ARELLO's board. Johnston
previously managed the Policy and Procedures Group at the Toronto Real
Estate Board® .[3]
2008-2009 Annual Report
http://www.reco.on.ca/publicdocs/Annual_Report_2009.pdf
PROTECTING THE PUBLIC INTEREST RECO® regulates the activity of trade in
real estate in the public interest. Protecting the public interest is
achieved through:
Enforcing the standards required to obtain and maintain registration as
a brokerage, broker or salesperson and delivering the duties of the
Registrar Establishing minimum requirements for pre-registration and
continuing education Conducting routine inspections of brokerage offices
to ensure compliance with REBBA® 2002 and educate brokers Addressing
inquiries, concerns and complaints about the conduct of registrants
received from all sources and taking appropriate action to protect the
public interest Establishing and administering insurance requirements,
which include consumer deposit protection Promoting ongoing education
and competent, knowledgeable and professional service Information
Available to the Public Under REBBA® 2002, the Registrar is required to
make certain information available to the public. RECO® provides a
"registrant search" feature on its website. Information available
includes the registration status, the current expiry date of
registration, whether or not the individual has complied with insurance
requirements, and enforcement or disciplinary activities related to the
brokerage, broker or salesperson.
The enforcement or disciplinary
activities disclosed includes:
Registrar's Proposals Convictions Charges Discipline & Appeals Decisions
Real Estate Council
of Ontario® (RECO®)
1. "Real Estate Council
of Ontario :
Who We Are".
2. "Annual
Report 2008".
3. "Annual
Report 2006-2007".
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The Real Estate and Business Brokers Act |
From Wikipedia
The Real Estate and Business Brokers Acts,
2002, came into force in Ontario, Canada on March 31, 2006. Sections 50
to 53, dealing with the creation of regulations, were enabled on
November 7, 2005. Section 8, dealing with specialist certifications, has
yet to be proclaimed. REBBA® is administered by the Real Estate Council
of Ontario on behalf of the Ontario Ministry of Small Business and
Consumer Services.
The Real Estate and Business Brokers Act, 2002, replaces the Real Estate
and Business Brokers Act, 1990.[1] Notable changes with the new
legislation include:
- modernized framework for registering
and regulating brokerages, brokers and salespersons[2]
- rules of trading moved from previous
Act to new Act's Regulations[3]
- procedures and programs previously
found in RECO® by-laws, e.g., insurance, continuing education, code of
ethics and complaints process[3]
- increased maximum fines for violations
of the Act[4]
1. "Real Estate and
Business Brokers Act, R.S.O. 1990, c. R.4 (repealed)".
2. "Backgrounder: The Real Estate and Business Brokers Act". 2006-03-31.
3. "For the RECOrd". November 2005.
4. "New Real Estate and Business Brokers Act comes into effect today".
2006-03-31.
The trade-marks OREA®,
OREA®
Course 1 (phase 1), OREA®
course 2 (phase 2) and OREA®
course 3 (phase 3) are owned by The Real Estate Council of Ontario (RECO®).
The Real Estate Council of Ontario (RECO®),
Ontario Real Estate Association®,
and Ontario Real Estate College®
does not sponsor, license or necessarily recommend these study notes and
or exam preparation materials for its courses. SeeWhy Learning’s exam
preparation materials and study notes are not sponsored by any other
industry organization.
SeeWhy Financial Learning Inc. Copyright
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