The Ontario Real Estate Association ( OREA ) is a professional association representing real estate brokers and salespeople who are members of the Ontario real estate council. It has its headquarters at 99 Duncan Mill Road in Toronto.
Video Ontario Real Estate Association
History
The Ontario Association of Real Estate Boards (later renamed the Ontario Real Estate Association) was established in 1922 to organize real estate activities in a province-wide manner. In 1930, the Ontario government brought the laws of the Real Estate and Business Brokers Act. The Ontario Government codified and arranged the work of a real estate broker. A new law is enacted, under the auspices of Ontario Security Commission, called the Realty Calendar and Real Estate Seller Act . Bill 150 was introduced to the Legislature on 21 March 1930, by Mr. Ferguson, and Royal Assent were awarded on 30 April 1930.
The law was changed in 1940 and again in 1949, but there is still no academic qualification required, and no formal training in the real estate business is required. The Ontario Association initiated educational programs at four different locations in the province in 1954. Finally, in 1959, individuals had to pass a short exam on their knowledge of the Real Estate Act and Business Broker.
In 1975, the Ontario Association succeeded in convincing the Consumer and Commercial Affairs Department in Ontario (which at the time was responsible for overseeing the Real Estate and Business Brokers Act ) which is compulsory education, for registration of all registrants in this province , elevated to 150 hours of study, with exams to pass with a 75% pass mark. There is also a new Broker course introduced, along with a new Certificate Program, which must be passed by the same 75% mark, to qualify for registration as a Broker.
The articling program was launched in 1988, which required all new registrants to complete and pass another three forty-hour courses within the first two years of their enrollment. If they fail to do so, they will not renew their registration until this requirement is met.
The Ontario Real Estate Association and the provincial government signed an agreement in 1997, which grants the right to self-management. The Ontario Real Estate Board was established in 1997 to manage the Real Estate and Business Brokers Act , on behalf of the provincial government. In October 2005, OREA was avoided governed by the Law Society of Upper Canada.
Timeline
- 1918 - The Windsor Essex County Real Estate Board, the oldest real estate board in Ontario, was founded on April 12, 1918, with 25 broker members; originally named the Real Border Cities City Council.
- 1920 - Toronto Real Estate Council established; it is the largest real estate board in Canada.
- 1997 - Ontario Real Estate Board was established to manage the Real Estate Act and Business Broker (REBBA).
- 2002 - OREA Real Estate College is formed, assuming all the duties of the OREA Education Department.
Maps Ontario Real Estate Association
Leadership
On August 9, 2016, Tim Hudak was appointed as the Chief Executive Officer of OREA by the board of directors, effective December 2, 2016. Hudak was previously the Ontario MPP Progressive Conservative Party in Ontario's Legislative Council for 21 years (from 1995 to 2016), and party leaders from 2009 to 2014. He served as Minister of Consumer and Business Services from 2002 to 2003, and previously he has several other positions in the provincial cabinet.
The current president of the OREA board of directors is Ettore Cardarelli, who took the role in March 2017.
Work
OREA provides real estate enrollment courses in Ontario through OREA Real Estate College.
See also
- Canadian Real Estate Association
- Toronto Real Estate Board
- Ottawa Real Estate Board
- Multiple Listing Service
- Real Estate Board in Ontario
- Real Estate Act and Business Broker
References
External links
- Ontario Real Estate Association
Source of the article : Wikipedia
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