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Real Estate and Business Brokers Act, 2002

ONTARIO REGULATION 365/22

CODE OF ETHICS

Historical version for the period April 19, 2022 to July 27, 2023.

Note: THIS REGULATION IS NOT YET IN FORCE. It comes into force on the day subsection 31 (1) of the Trust in Real Estate Services Act, 2020 comes into force.

No amendments.

This is the English version of a bilingual regulation.

Matters Involving Integrity, Etc.

Integrity, honesty, good faith, etc.

1. In carrying on business, a registrant shall act with courtesy, honesty, good faith and integrity in relation to every person the registrant deals with.

Unprofessional conduct, etc.

2. A registrant shall not engage in any act or omission that, having regard to all of the circumstances, would reasonably be regarded as,

(a) being disgraceful, dishonourable, unprofessional or unbecoming a registrant; or

(b) likely to bring the sector into disrepute or to undermine public confidence in the regulation of registrants under the Act.

No counselling contraventions

3. A registrant shall not counsel, advise or knowingly assist a person to contravene the Act, the regulations or any other law that is applicable to a trade in real estate or that is relevant to carrying on a registrant’s business.

Fraud

4. A registrant shall not engage in or be a party to fraud.

Misrepresentation, etc.

5. In carrying on business, a registrant,

(a) shall make best efforts to ensure that any representations are accurate and are not misleading; and

(b) shall not engage in or be a party to misrepresentation or any unethical practice.

No discrimination, etc.

6. In carrying on business, a registrant shall not treat any person in a manner that would contravene the Human Rights Code.

Intimidation, coercion, etc.

7. In carrying on business, a registrant shall not engage in conduct that is intimidating, coercive or abusive or that constitutes undue pressure or harassment.

Conscientious, Competent and Quality Service

Best interests

8. (1) A registrant shall promote and protect the best interests of the registrant’s clients.

(2) If a registrant believes that a client’s ability to understand information or make decisions relevant to a trade in real estate may be impaired, the registrant shall make reasonable efforts to ensure that the client understands the information and appreciates the reasonably foreseeable consequences of the decision.

Conscientious and competent service, etc.

9. In carrying on business, a registrant shall,

(a) provide conscientious, courteous and responsive service to clients and demonstrate reasonable knowledge, skill, judgment and competence in providing such service; and

(b) subject to section 10, demonstrate reasonable knowledge, skill, judgment and competence in providing opinions, advice, assistance or information to any person.

Dealings with self-represented parties

10. A registrant shall not, in respect of a trade in real estate,

(a) provide services, opinions or advice to a self-represented party; or

(b) encourage a self-represented party to rely on the registrant’s knowledge, skill or judgment.

Services from others

11. (1) A registrant shall advise a person to obtain services from another person if the registrant is not able to provide the services with reasonable knowledge, skill, judgment and competence or is not authorized by law to provide the services.

(2) A registrant shall not discourage a person from seeking a particular kind of service from another person if the registrant is not able to provide the service with reasonable knowledge, skill, judgment and competence or is not authorized by law to provide the service.

Confidentiality

12. Except as is otherwise authorized or required by law, a registrant shall not disclose to a third party any confidential information of a client without the client’s written consent.

Conflicts of Interest

Conflicts

13. In carrying on business, a registrant shall not provide services, including representation, to a client or continue to provide services to a client where the interests of the registrant conflict or may conflict with the interests of the client unless the registrant has,

(a) disclosed to the client or prospective client any transaction or relationship that gives rise to or could reasonably be expected to give rise to a conflict of interest;

(b) advised the client or prospective client to seek independent professional advice with respect to the disclosure made under clause (a);

(c) taken all reasonable steps to ensure that the client or prospective client has demonstrated a reasonable understanding of the conflict or potential conflict of interest; and

(d) obtained consent in writing from the client or prospective client to the provision of the registrant’s services despite the conflict or potential conflict of interest.

Other Relationships

Dealings with clients of other registrants

14. A registrant who knows or ought to know that a person is a client of another registrant shall communicate information to the person for the purpose of a trade in real estate only through the other registrant, unless the other registrant has consented in writing.

No obstruction

15. (1) A registrant shall not obstruct or attempt to obstruct the administration or attempted administration of the Act or its regulations.

(2) Without limiting the generality of subsection (1), a registrant shall not,

(a) obstruct or attempt to obstruct any person from making a complaint to the registrar;

(b) obstruct or attempt to obstruct the registrar from making a written request for information with respect to a complaint or otherwise or from receiving accurate or complete information in response to such a request; or

(c) induce or attempt to induce a person to withdraw a complaint about a registrant to the registrar.

(3) For greater certainty, a registrant does not violate this section by suggesting or engaging in mediation, settlement discussions, negotiation or arbitration to resolve a dispute, but any agreement to resolve a dispute must not include a requirement to withdraw or refrain from making a complaint to the registrar.

Duty to ensure compliance

16. (1) A brokerage shall ensure that every salesperson and broker that the brokerage employs carries out their duties in compliance with this Regulation.

(2) The broker of record of a brokerage shall ensure that the brokerage complies with this Regulation.

17. Omitted (revokes other Regulations).

18. Omitted (provides for coming into force of provisions of this Regulation).