Who is responsible for TRESA?

The correct answer is that the provincial government is responsible for TRESA, which stands for the Trust in Real Estate Services Act. This legislation was enacted to regulate real estate professionals in Ontario and ensure that they operate in a fair and transparent manner. The provincial government has the authority to enact laws and regulations that govern various sectors, including real estate, and TRESA serves to protect consumers and promote confidence in the marketplace by establishing standards of practice for real estate professionals.

Local real estate boards and associations facilitate the work of real estate professionals within specific areas but do not create or enforce provincial legislation. The Real Estate Council of Ontario, while a regulatory body overseeing the implementation and adherence to TRESA, operates under the authority granted by the provincial government. Similarly, the Federation of Ontario Municipalities is focused on municipal matters and does not have a role in the provincial governance of real estate regulations.