OREA STATEMENT on NEW PROTECTIONS for BUYERS & SELLERS of NEW HOMES
A Statement by CEO of OREA, Tim Hudak
FOR IMMEDIATE RELEASE
June 23, 2021
OREA STATEMENT ON NEW PROTECTIONS FOR BUYERS AND SELLERS OF NEW HOMES
“Buying a home is the largest, most complex transaction most Ontarians will ever make. When consumers invest their life savings into a home, they have a right to expect that throughout the process they are going to be protected from those who would violate their trust.
The Province’s announcement today of the creation of a New Home Builder Code of Ethics is great news for Ontario home buyers. Establishing a Code of Ethics for builders will raise professional standards in the industry, create a new enforcement mechanism for the regulator and most importantly, punish bad behaviour in the marketplace.
These changes match up with the Code of Ethics REALTORS® follow under the Trust in Real Estate Services Act, 2020 and were OREA’s main recommendation as part of the Province’s review of Tarion and the New Home Warranties Act.
I want to commend Minister Romano for his swift action in bringing forward this important change that will protect home buyers and raise professional standards across the industry.”
- Tim Hudak, OREA CEO
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