TRESA Explained: What Ontario's Trust in Real Estate Services Act Means for Agents in 2026 | AgentFlow AI

TRESA Replaced REBBA — Here's What Changed

Effective December 1, 2023, Ontario's Trust in Real Estate Services Act (TRESA) replaced the previous Real Estate and Business Brokers Act (REBBA), positioning Ontario as a leader in real estate professional standards in North America. If you were licensed before 2023, your obligations changed; if you're newly licensed, TRESA is simply the rulebook you operate under via RECO.

The Code of Ethics

TRESA's Code of Ethics regulation requires agents to act with courtesy, honesty, good faith and integrity in every dealing. Specifically, agents must avoid conduct that would reasonably be seen as dishonourable or unprofessional, and must not:

Engage in fraud or make misleading representations
Engage in harassment or coercive conduct
Contravene the Human Rights Code

Disclosure Obligations

TRESA significantly expanded what agents must disclose, and in writing:

More detailed information about your services, fees, and the nature of the agency relationship
Prospective buyers and sellers must receive RECO's Information Guide — which explains how consumers and REALTORS work together — before entering into any agreement with them

Competing Offers and Price Transparency

TRESA permits a listing agent to disclose details like the purchase price, deposit amount, and closing date of competing offers — but only with the seller's written permission, which the seller can withdraw at any time. This is a meaningful shift from the traditional fully-sealed-bid approach, but it only applies when the seller has actively authorized it.

Working with Self-Represented Parties

TRESA expanded brokerage and agent responsibilities when dealing with someone who isn't represented by their own agent. An agent can provide "assistance" to a self-represented party even without a representation agreement — but if that assistance crosses into encouraging the party to rely on the agent's skill or judgment, it can create obligations similar to a representation relationship. Know where that line is before assisting an unrepresented buyer or seller.

Penalties

TRESA raised the stakes for non-compliance significantly:

Individual agents: fines up to $50,000
Brokerages: fines up to $100,000

New for 2026: Mandatory Annual Financial Filing for Brokerages

Following the collapse of iPro Realty — where the misuse of $10.5 million in trust account funds affected roughly 2,400 agents before RECO reimbursed those impacted — RECO is introducing tighter financial oversight of brokerages. Effective October 1, 2026, every Ontario brokerage must submit an annual financial filing to RECO under TRESA, including financial statements, compliance attestations, and details on trust accounts and unclaimed trust monies. RECO has said monthly trust reconciliation reporting is expected to follow in 2027.

This filing obligation sits with the brokerage, not individual agents — but if you're choosing a brokerage or evaluating one you work for, it's now a real, regulator-tracked signal of financial health worth asking about.

Practical Checklist for 2026

Confirm your disclosure documents and intake process include the RECO Information Guide, delivered before any agreement is signed
Never share competing-offer details (price, deposit, closing date) without the seller's written, revocable permission on file
Be deliberate about how you "assist" self-represented parties — document whether you're providing limited assistance or stepping into a representation-like role
Review RECO's TRESA guidance periodically, since enforcement practices continue to evolve
If you're evaluating a brokerage, ask how it's preparing for the October 1, 2026 annual financial filing — it's a reasonable proxy for how seriously it treats trust account discipline

Sources:

This article is for general informational purposes and is not legal advice. Confirm current requirements directly with RECO or legal counsel.