The Ontario Government recently announces plans to change the rules in the real estate industry in Ontario. The proposed changes are fairly board, and will impact several areas, some in particular will impact you directly as the consumer. <strong>WHAT ARE THE MOST IMPORTANT CHANGES?</strong> Adding clarity for buyers and sellers so that they know whether they are represented by a brokerage, or if they are self represented; Requiring new disclosures to buyers and sellers to support informed decisions; Additional regulatory powers that will give RECO more tools to get the worst offenders in the industry out of the business; and Making it easier for RECO to levy fines against real estate salespeople for certain violations of the legislation. <strong>How Does This Impact You the Consumer?</strong><img src="http://www.johnstonandgreen.ca/wp-content/uploads/2014/06/mtreb_col_gif.gif" alt="" width="200" height="72" class="alignnone size-full wp-image-207" /> The current laws already offer robust protection for you as a consumer, and thousands of sales occur every month in Ontario with no problem at all. It is important that you understand exactly what duties your brokerage owes you, and what your responsibilities are as well, under the arrangement that has been established. The new rules could come into effect as early as 2021.