Under TRESA, both individual agents, including salespersons and brokers, and brokerages are required to report specific information changes to the Real Estate Council of Ontario (RECO) within five days of the event occurring.
Under section 28(1) of TRESA, a registrant must notify RECO within five days after a change occurs if there has been a change to any information that was included in the registrant’s application for registration or renewal of registration.
This obligation is not limited to information that appears on the registrant’s current registration. It also applies to information provided as part of an application in process.
Changes that must be reported by agents
Certain changes to contact information can be completed online via an agent’s MyWeb account under their Profile. Any other changes are completed through the Notice of Change: Disclosure Amendment form which must be submitted to registration@reco.on.ca. The nature of the disclosures that RECO must be informed of are:
- Contact information. Any change to an individual’s name or contact information.
- Legal or trade name: Notice of Name Change form
- Residential address: MyWeb profile
- Service address: Notice of Address Change form
- Personal email address or primary phone number: MyWeb profile
- Other employment or business;
- New criminal charges, convictions, or findings of guilt under any law;
- Professional disciplinary decisions or proceedings under another legislation or by another regulatory body;
- Personal or corporate bankruptcy or insolvency filings, including consumer or commercial proposals;
- Unpaid court–ordered judgments or other outstanding debts where collection action has been taken by a creditor.
In addition to contact information changes, supporting documentation may be required for new disclosures as outlined in the “Information Required by the Registrar” section below.
Brokerage-specific reporting
Brokerages have additional five-day notification obligations. These include:
- A change to the brokerage’s address for service, including email address via a Notice of Address Change Brokerage/Sole Proprietor/Partnership
- A change in its officers and directors for a corporation or partnership; Notice of Brokerage/Sole Proprietor Change
- A change in the broker of record via the Notice of Brokerage/Sole Proprietor Change
- A change to the real estate trust account via the Notice of Brokerage/Sole Proprietor Change
- A change to any other information included in the brokerage’s registration or renewal application.
There are also separate reporting requirements for certain corporate share issuances or transfers, which generally have a 30-day reporting period rather than a five-day reporting period. TRESA s.18 (1)
Other important notice requirements
When an agent initiates termination of employment with a brokerage, the agent must provide written notice to the brokerage within five days after the termination takes effect. Similarly, when a brokerage initiates an agent’s termination, the brokerage must complete the applicable termination notification to RECO within five days.
Failure to make a required five-day notification
Failing to notify RECO of a change within the required five-day period may result in regulatory action, including provincial offence charges and disciplinary action.
Registrants should not wait until their next renewal to disclose a change that occurred during the registration period, as they may otherwise face regulatory consequences.
Information required by the registrar
Registrants are required to provide specific information when reporting certain changes, as well as any additional information required by RECO. It is important that agents provide all of the necessary information in order for RECO to conduct a fulsome review.
The general disclosure requirements are outlined below.
Criminal charge
- A current Criminal Record and Judicial Matters Check reflecting the pending charge.
- Certified copy of the Summons, Promise to Appear/Undertaking, Recognizance of Bail, or Release Order, whichever applies to the matter
- Certified copy of the Court Information Sheet available through the court where the proceedings are taking place
- A written statement regarding the circumstances that led to the charge(s)
- Confirmation of the next court date by legal counsel, if represented
Conviction or finding of guilt
- A current Criminal Record and Judicial Matters Check reflecting the finding of guilt.
- Certified copy of the Court Information Sheet available through the courthouse where the proceedings took place
- Court transcripts that include the plea proceedings and the judge’s reasons for sentencing or decision. Transcripts can be obtained through the Authorized Court Transcriptionists for Ontario website
- Certified copies of any related court orders, such as probation, fine, prohibition, or conditional sentence orders, available through the courthouse where the proceedings took place
- A written statement regarding the circumstances that led to the conviction(s)
Personal bankruptcy
- A written statement regarding the circumstances which led to the filing
- Creditor package, including executed copies of the following:
- Form 69: Assignment of Bankruptcy
- Form 79: Statement of Assets, Liabilities
- Form 65: Monthly Income and Expense Statement
- Form 84: Certificate of Discharge, if applicable
Corporate bankruptcy
- A written statement regarding the circumstances which led to the filing
- Creditor package, including the following:
- Form 21: Assignment for the General Benefit of Creditors
- Form 68: Notice of Bankruptcy, First Meeting of Creditors
- Form 78: Statement of Affairs
- Form 31: Proof of Claim
Consumer proposal
- A written statement regarding the circumstances which led to the filing
- Creditor package, including the following:
- Form 47: Consumer Proposal
- Form 48: Report of Administrator on Consumer Proposal
- Form 49: Notice to Creditors of Consumer Proposal
- Form 65: Monthly Income and Expense Statement
- Form 79: Statement of Affairs
- Form 46: Certificate of Full Performance of Proposal, if applicable
For any ongoing bankruptcy or insolvency proceeding, a letter from the trustee may also be required to confirm the status of the proceeding.
Unpaid court-ordered judgment or outstanding debt
- A written statement regarding the circumstances that led to the judgment or debt
- A copy of the judgment
- A written statement from the creditor confirming the current balance owing and payment schedule
- If the debt relates to arrears owed to the Canada Revenue Agency:
- Written confirmation of the type of arrears (income tax, HST, personal or business debt)
- A copy of the statement of account detailing the amount of the debt and the current balance owing
- A copy of any Requirement to Pay, garnishment, or lien relating to the debt
Other employment, occupation, or business
- Official job or occupation title
- Name of the company, including legal name and operating name
- Nature of the business
- Full list of duties and responsibilities
If the employment or business involves real estate or property management, the registrant must clarify whether they have any ownership interest in the properties involved. If so, the registrant must also confirm whether any duties involve facilitating a real estate transaction, including a purchase, sale, rental, or lease. This includes conducting showings, advertising, presenting offers, or providing property-related information to the public.
Name change
TRESA requires individuals to register under their complete legal surname. Individuals may use an initial or a commonly recognized short form of their first name and must trade only under the name by which they are registered. See O. Reg. 567/05, s. 8.
An affidavit is required if an agent elects to register a trade name. The affidavit must:
- Identify the individual’s legal name and address.
- State that they are commonly known by the trade name.
- State that the legal name and trade name refer to the same person.
- State that they wish to trade in real estate under the trade name and for no improper purpose.
- Be sworn under oath and signed under seal by the individual and a notary public, solicitor, or commissioner of oaths.
RECO only accepts surname changes when,
- An individual assumes a spouse’s surname, supported by a marriage certificate, or;
- An individual completes a legal name change, supported by a legal name change certificate.
To request a change to the given name (first name) complete the Notice of Name Change: and attach the applicable supporting documentation.
Disclosures of concern
When reviewing an application involving a disclosure of concern, the Registrar may:
- Approve registration or continued registration.
- Approve registration with voluntary conditions or reporting requirements.
- Propose to refuse or revoke registration. The applicant or registrant has 15 days from receipt of the written decision to appeal the proposal to the Licence Appeal Tribunal.
Disclosures of concern may include bankruptcies, insolvency proceedings, charges, convictions, judgments, disciplinary action or current proceedings by another regulator.
Insolvency proceedings may also affect a broker’s eligibility to become a broker of record.
If the disclosure does not raise concerns, the Registrar may approve registration or continued registration without further action.