CREA/OREA Reference

2018 OREA Annual Forms Update Webcast

The Ontario Real Estate Association’s popular Forms Revisions Update Webcast is back. The Webcast provides a comprehensive overview of the changes that have taken place to OREA Standard Forms and Clauses for 2018. Don’t get caught off guard filling out a form on your next listing or sale. Prepare to be away before you use OREA Forms 2018.

In this Webcast, we will cover:

  • What's New
  • What's Revised?
  • Also a review of NEWER Forms to assist REALTORS® written accountability in regards to Notification and Communication
  • Catch up and clarify the valued member resource of Standard Forms rights and benefits
  • Navigate OREA Forms Resources to assist in day to day practice & enhance understanding of Forms
  • Participants will have the opportunity to ask lingering Forms questions
  • Refresher on the recently revised PCMLTFA/FINTRAC Forms

The session will include a 45 minute presentation, followed by 15 minutes of Q & A and will be facilitated by Cassandra Agnew Walker joined by Sean Morrison, fellow REALTOR®. Cassandra Agnew Walker is Head of Standard Forms, a former REALTOR®, OREA Director and Instructor. She has extensive facilitation experience with brokerages, boards and associations and exudes enthusiasm in member forms discussions. Sean is an active REALTOR® in the Hamilton area and is currently an OREA Provincial Director representing Southern Ontario.  Sean is the current OREA Standard Forms Committee Chair and as such has the background knowledge about the NEW and REVISED OREA Standard Forms for 2018 to share with Members during this live Webcast.


All OREA Standard Forms webinars, webcasts and related resources are for OREA members only.  To access the webinars, webcast recordings and forms resources you must be registered with a brokerage that is a member of Organized Real Estate, which includes OREA membership.


The Canadian Real Estate Association

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Implementation of OSFI’s revised Guideline B-20 - Residential Mortgage Underwriting Practices and Procedures

On October 17, 2017, the Office of the Superintendent of Financial Institutions (OSFI) confirmed the implementation of a new minimum qualifying stress test for uninsured mortgagesGuideline B-20 now requires borrowers who have a down payment of 20% or more to qualify for a mortgage at a higher rate.  Borrowers will have to be approved at either the five-year mortgage rate published by the Bank of Canada (currently 4.99%) OR the mortgage rate the federally regulated financial institution offers plus 2%, whichever is higher. 

The revised Guideline B-20 comes into effect on January 1, 2018.  However, if a borrower has put down a deposit and received a mortgage eligibility assessment or pre-approval from a federally regulated lender prior to January 1, 2018, the lender has the discretion to offer the loan based on the pre-existing guideline (including the prior qualification rate). 

We encourage REALTORS® to remind their clients who have put down a deposit on a home but don’t need a mortgage for some time or are uncertain about access to mortgage financing as a result of the revisions to Guideline B-20 to contact their federally regulated lender directly.

Do not hesitate to contact the Government Relations group if you have any questions.


200 Catherine St., 6th Floor, Ottawa, ON  K2P 2K9

Tel: 613-237-7111   FAX: 613-234-2567  

Toll Free: 1-800-842-2732

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The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.






Dear Ontario REALTORS®:

When the Ontario government announced they were reforming multiple representation, we knew we had to fight to protect a consumer’s ability to use a REALTOR® they know and trust.

It was an uphill battle.

Some, like the Toronto Star and RECO favoured a complete ban on double ending. We took a more thoughtful approach.

OREA opposed a ban on double ending and recommended a common sense reform called mandatory designated representation with the ability for two clients to work with the same REALTOR® as an impartial facilitator.

Today, we learned we were successful. The province introduced legislation which proposes to implement OREA’s recommended reform. NEWS RELEASE

The bill must still go through the legislative process and including enabling regulations, but the government has committed to OREA that our model is the model they want to bring forward.

This is a big win for Ontario’s REALTORS®.

If it makes its way into law, OREA’s model means that you can continue to work with your long-time valued clients.

In just the last few months, we have seen two dramatically different results on multiple representation. In British Columbia, the NDP government banned limited dual agency with almost no exceptions.

In Ontario, the government has listened and struck a balance that will work all over the province.

A lot of detail must be sorted out in regulation which will be consulted on with the public, but today was a big step forward and a good one for Ontario REALTORS® and consumer choice.

Look for more updates on this issue very soon. In the meantime, if you have questions, email us:


Ettore Cardarelli
2017 President
Ontario Real Estate Association


Ontario Realtor Party


With over 70,000 members we are a force to be reckoned with at Queen’s Park.

This is the reason why we were successful in stopping the spread of the municipal land transfer tax, a review of the Real Estate and Business Brokers Act, and passing electronic signatures, to name a few.

When we speak with one voice, decision makers at Queen’s Park pay attention to the issues our members care about.

That's why we created the Ontario REALTOR® Party to give our members a way to speak up on issues impacting the real estate profession at Queen’s Park.

While we have been successful in the past, there are new issues on the horizon that threaten the way we do business, including the never-ending potential for a province-wide municipal land transfer tax, and mandatory home energy audits. Now is the time to get involved to protect the profession.

Click here to learn more and let us know how you can help!

Thank you,

Pat Verge
Chair, Ontario REALTOR® Party Committee

Free Online Professional Development Resources Available from OREA


The Ontario Real Estate Association is pleased to provide its members with a growing number of professional development resources. Through the OREA YouTube Channel, members can now access all the presentations from the most recent Emerge professional development conference, rated by participants as the best Emerge content yet, as well as insights from OREA’s five 2017 YPN Leadership Award Winners.

By visiting the Emerge playlist you will find in-depth information about:

  • Ways to make your brand stand out
  • Technologies and platforms to enhance your marketing activities
  • Tools to generate and convert more leads

The YPN playlist includes short videos which touch on ways to become a leader in the real estate industry, such as:

  • Accelerating your learning curve as a new REALTOR®
  • Making an impact on consumers
  • Achieving your personal business goals

OREA is committed to helping our members continually grow and develop, and we look forward to providing you with a continual stream of content geared to your everyday needs.





Get Your Biggest Forms Questions Answered with OREA Tutorials

In a fiercely competitive marketplace, knowledge about the legal and regulatory aspects of forms and transactions in general is a valuable asset. We’ve made it easier than ever for you to equip yourself for success with four new forms video tutorials. 

As an OREA member you now have access to the following tutorials:

  • Form #124 – Notice of Fulfillment of Condition(s)
  • Form #125 – Termination of Agreement by Buyer
  • Form #130 – Fax Cover Sheet – Offers
  • Form #240 – Amendment to Listing Agreement 

These and previous tutorials can be found on OREA’s website (you will need your membership log in credentials to access them). OREA will provide ongoing details about new tutorials and other standard forms resources via e-mail and social media. 


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Mississauga Real Estate Board
3450 Ridgeway Dr #1
Mississauga, ON L5L 0A2, Canada
Phone: 905.608.6732
Fax: 905.608.9988