Ontario Real Estate Association
Encyclopedia
The Ontario Real Estate Association (OREA) represents the 45,000+ real estate broker
s and salespeople who are members of Ontario's
42 real estate boards. In addition, OREA provides all real estate
licensing courses in Ontario through the Ontario Real Estate College.
In 1922 a new organization was founded in Toronto, to organize real estate activities on a province wide basis. The new organization was formed to promote higher standards to protect the public, and to champion the interests of the real estate organization members to government. The new organization was called The Ontario Association of Real Estate Brokers.
The general consensus of real estate men held by the public at that time was described by Charlie Purnell, President of the Hamilton Real Estate Board, 1940-1942 in this statement “The forming of the Hamilton Real Estate Board by the men interested, was not so much to increase their earnings, but to better the image of the real estate business generally, which was looked down upon to such an extent, that people going into the real estate business were referred to as going into a racket.”
After eight years of lobbying the provincial government, the Ontario Association (of which all local boards were members) scored a major victory, when the government brought into law the Real Estate Brokers Act (1930).
The government of Ontario, at the urging of the Ontario Association of Real Estate Brokers, found it necessary to codify and regulate the Real Estate Brokers occupation. A new law was enacted, under the supervision of the Ontario Securities Commission called ‘Act for Registration of Real Estate Brokers and Salesmen’.
Bill 150 was introduced into the Legislature on March 21 1930 by Mr. Ferguson MPP, 2nd Reading was March 26th 1930, House in Committee March 26th 1930, 3rd Reading March 27th 1930 and Royal Assent was given on April 30th 1930. It took only 12 days to become law after having been introduced into the Legislature. An attempt was made to search for Legislative debates on this issue but none were found. It appears there was not much opposition for the passage of this Bill. One could make an inference from the lack of debate, that the disreputable practices of unregulated real estate brokerages had attracted attention for some time.
The Regulations, Chapter 247 of the Real Estate Brokers Act (1930) stipulated the rules which had to be followed, if one wanted to practice real estate in Ontario. Initially, the rules were not very stringent. If one wanted to practice, all that was required was to make an application in writing on the forms provided by the Registrar, accompanied by the prescribed fee, and supply a $500 surety bond. A Broker who carried on business in a city, or within 5 miles from the boundaries of a city, having a population of 100,000 paid a $15.00 fee, and all other Brokers paid $5.00. Salesmen also required to be registered through a registered broker. The fee for Salesmen was $3.00 and there was a $1.00 fee for a salesmen notifying that he had changed brokers, or for any other change in registration such as an address change. In 1931 there were 668 Brokers and 400 salesmen registered under the new Act.
The Act was amended in 1940 and again in 1949 but there were still no academic qualifications required and no formal training in the real estate business was required.
The Ontario Association started an educational program in four different locations in the Province in 1954. Finally, in 1959 individuals had to pass a short examination, on their knowledge of the Real Estate and Business Brokers Act.
By 1975 the Ontario Association was successful, in convincing the Ministry of Consumer and Commercial Relations in Ontario, (who by that time was responsible for supervising the Real Estate and Business Brokers Act,) that mandatory education, for registration of all registrants in the province, be elevated to 150 hours of study, with an examination that had to be passed with a 75% pass mark. There were also new Broker courses introduced, along with a new Certificate Program, which had to be passed with the same 75% mark, to qualify for registration as a Broker.
An articling program was launched in 1988, which required all new registrants to complete and pass, three more forty hour courses, within their first two years of registration, failing which, they would not have their registrations renewed, until these requirements were satisfied. The Ontario Real Estate Association and the provincial government signed an agreement in 1997 which granted the right to self management and The Real Estate Council of Ontario was established to administer the Real Estate Brokers Act, on behalf of the Provincial government. In addition to the articling program, a new requirement to maintain ongoing education by attending 30 hours of mandatory continuing educational courses was made a regulation, during each two year registration cycle. This regulation came into effect in 2000 and includes a 6 hour RECO Update Course which is mandatory. The rest of the hours are selected from a course calendar supplied by the Ontario Real Estate Association College of Continuing Education.
In October 2005, OREA succeeded in its lobbying to amend legislation that could have subjected Ontario REALTORS® to regulation by the Law Society of Upper Canada
.
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.
Real estate broker
A real estate broker, real estate agent or realtor is a party who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy...
s and salespeople who are members of Ontario's
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
42 real estate boards. In addition, OREA provides all real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
licensing courses in Ontario through the Ontario Real Estate College.
In 1922 a new organization was founded in Toronto, to organize real estate activities on a province wide basis. The new organization was formed to promote higher standards to protect the public, and to champion the interests of the real estate organization members to government. The new organization was called The Ontario Association of Real Estate Brokers.
The general consensus of real estate men held by the public at that time was described by Charlie Purnell, President of the Hamilton Real Estate Board, 1940-1942 in this statement “The forming of the Hamilton Real Estate Board by the men interested, was not so much to increase their earnings, but to better the image of the real estate business generally, which was looked down upon to such an extent, that people going into the real estate business were referred to as going into a racket.”
After eight years of lobbying the provincial government, the Ontario Association (of which all local boards were members) scored a major victory, when the government brought into law the Real Estate Brokers Act (1930).
The government of Ontario, at the urging of the Ontario Association of Real Estate Brokers, found it necessary to codify and regulate the Real Estate Brokers occupation. A new law was enacted, under the supervision of the Ontario Securities Commission called ‘Act for Registration of Real Estate Brokers and Salesmen’.
Bill 150 was introduced into the Legislature on March 21 1930 by Mr. Ferguson MPP, 2nd Reading was March 26th 1930, House in Committee March 26th 1930, 3rd Reading March 27th 1930 and Royal Assent was given on April 30th 1930. It took only 12 days to become law after having been introduced into the Legislature. An attempt was made to search for Legislative debates on this issue but none were found. It appears there was not much opposition for the passage of this Bill. One could make an inference from the lack of debate, that the disreputable practices of unregulated real estate brokerages had attracted attention for some time.
The Regulations, Chapter 247 of the Real Estate Brokers Act (1930) stipulated the rules which had to be followed, if one wanted to practice real estate in Ontario. Initially, the rules were not very stringent. If one wanted to practice, all that was required was to make an application in writing on the forms provided by the Registrar, accompanied by the prescribed fee, and supply a $500 surety bond. A Broker who carried on business in a city, or within 5 miles from the boundaries of a city, having a population of 100,000 paid a $15.00 fee, and all other Brokers paid $5.00. Salesmen also required to be registered through a registered broker. The fee for Salesmen was $3.00 and there was a $1.00 fee for a salesmen notifying that he had changed brokers, or for any other change in registration such as an address change. In 1931 there were 668 Brokers and 400 salesmen registered under the new Act.
The Act was amended in 1940 and again in 1949 but there were still no academic qualifications required and no formal training in the real estate business was required.
The Ontario Association started an educational program in four different locations in the Province in 1954. Finally, in 1959 individuals had to pass a short examination, on their knowledge of the Real Estate and Business Brokers Act.
By 1975 the Ontario Association was successful, in convincing the Ministry of Consumer and Commercial Relations in Ontario, (who by that time was responsible for supervising the Real Estate and Business Brokers Act,) that mandatory education, for registration of all registrants in the province, be elevated to 150 hours of study, with an examination that had to be passed with a 75% pass mark. There were also new Broker courses introduced, along with a new Certificate Program, which had to be passed with the same 75% mark, to qualify for registration as a Broker.
An articling program was launched in 1988, which required all new registrants to complete and pass, three more forty hour courses, within their first two years of registration, failing which, they would not have their registrations renewed, until these requirements were satisfied. The Ontario Real Estate Association and the provincial government signed an agreement in 1997 which granted the right to self management and The Real Estate Council of Ontario was established to administer the Real Estate Brokers Act, on behalf of the Provincial government. In addition to the articling program, a new requirement to maintain ongoing education by attending 30 hours of mandatory continuing educational courses was made a regulation, during each two year registration cycle. This regulation came into effect in 2000 and includes a 6 hour RECO Update Course which is mandatory. The rest of the hours are selected from a course calendar supplied by the Ontario Real Estate Association College of Continuing Education.
In October 2005, OREA succeeded in its lobbying to amend legislation that could have subjected Ontario REALTORS® to regulation by the Law Society of Upper Canada
Law Society of Upper Canada
The Law Society of Upper Canada is responsible for the self-regulation of lawyers and paralegals in the Canadian province of Ontario, Canada. Founded in 1797, it is known in French as "Le Barreau du Haut-Canada"...
.
History
- 1918 - The Windsor Essex County Real Estate Board is the oldest Real Estate Board in Ontario,incorporated April 12 1918 with 25 member brokers. It was initially called The Border Cities Real Estate Board.
- 1920 - Toronto Real Estate BoardToronto Real Estate BoardThe Toronto Real Estate Board , founded in 1920, is the largest real estate board in Canada with over 28000 members. TREB's Multiple Listing Service is shared with boards in the surrounding area, namely the Brampton, Durham Region, Mississauga and Orangeville Real Estate Boards.The Toronto Real...
founded; Canada's largest real estate board - 1922 - OREA founded
- 1997 - RECO founded to administer the Real Estate and Business Brokers ActReal Estate and Business Brokers ActThe 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) - 2002 - Ontario Real Estate College formed, assuming all the duties of the OREA Education Department
Mandate and Programs
OREA's Mission Statement is to: "To help Ontario REALTORS®, Member Boards and Associations succeed."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.
See also
- Canadian Real Estate AssociationCanadian Real Estate AssociationThe Canadian Real Estate Association represents over 100,000 Realtors across Canada.The Association owns the Multiple Listing Service or MLS trademark and the Realtor trademarks in Canada. Local real estate Boards or Associations operate a local data base under a licensing agreement with the...
- Toronto Real Estate BoardToronto Real Estate BoardThe Toronto Real Estate Board , founded in 1920, is the largest real estate board in Canada with over 28000 members. TREB's Multiple Listing Service is shared with boards in the surrounding area, namely the Brampton, Durham Region, Mississauga and Orangeville Real Estate Boards.The Toronto Real...
- Ottawa Real Estate BoardOttawa Real Estate BoardThe Ottawa Real Estate Board is a non-profit professional association of registered real estate brokers and salespeople in the Ottawa, Canada area. OREB was formed in 1919 and incorporated in 1921...
- Multiple Listing ServiceMultiple Listing ServiceA multiple listing service is a suite of services that enables real estate brokers to establish contractual offers of compensation , facilitates cooperation with other broker participants, accumulates and disseminates information to enable appraisals, and is a facility for the orderly...
- Real Estate Council of OntarioReal Estate Council of OntarioThe Real Estate Council of Ontario 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....
- Real Estate and Business Brokers ActReal Estate and Business Brokers ActThe 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...