Ontario Modernizing Rules Governing Province’s Real Estate Services Sector
The Ontario government is updating the rules governing the province’s real estate brokerages, brokers, and salespersons to strengthen consumer protection, educate home buyers and sellers, and enhance professionalism. The new rules, effective December 1, 2023, will give Ontarians more choice in the real estate trade process by allowing a brokerage to disclose the details of competing offers. They also include an updated Code of Ethics to strengthen professional obligations related to integrity, conflict of interest and the prevention of fraud.
