Changes to the Real Estate and Business Brokers Act, 2002 (REBBA 2002)

Updates to REBBA 2002 have long been requested by the Ontario real estate industry. Specifically, in the last few years TREB has sought flexible remuneration options for brokerages



On December 13, 2013, the Stronger Protection for Ontario Consumers Act, Bill 55 was enacted into law. This Act makes changes to the Real Estate and Business Brokers Act, 2002 (REBBA 2002). Updates to REBBA 2002 have long been requested by the Ontario real estate industry. Specifically, in the last few years TREB has sought flexible remuneration options for brokerages. 
The two changes are:
  • Bill 55 amends REBBA to allow that commission or other remuneration to be a combination of both an amount and a percentage.
  • Bill 55 amends REBBA, section 35.1 (2) to require a brokerage acting on behalf of a seller shall retain, for the period of time prescribed, copies of all written offers that it receives to purchase real estate or copies of all other prescribed documents related to those offers. 
In practical terms, this means that flexible remuneration can take effect immediately.  However, the enactment of Bill 55 does not affect section 35.1 (2) concerning document retention until the regulations have been worked out with the regulator. OREA will work to amend current forms in order to comply with this section without having to keep copies of all offers.



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REAL ESTATE SNATCH is the independent real estate blog of Samir Safadi, Sales Representative of West-100 Metro View Realty Ltd, brokerage it is dedicated to covering Real Estate News, digital culture, social media and technology, providing analysis of trends, Market Data , reviewing new development. Offering Real Estate services resources and guides. Services are provided to prospective buyers and sellers of real estate by Samir Safadi, Sales Representative, West-100 Metro View Realty Ltd, brokerage, duly registered in the province of Ontario, under Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Member in good standing with



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