1-year in, realtors are fast adopters of PRECs

by | Oct 22, 2021 | Blog

A year after realtors in Ontario were permitted to create personal real estate corporations (PERCs), uptake has been significantly higher than expected, says their provincial trade association. “When we met with government, we estimated 3,000-4,000 realtors would use this tool, and after a year of existence about 10,000 realtors have taken it up,” Tim Hudak, CEO of the Ontario Real Estate Association (OREA), said. “Oct. 1 marked the one-year anniversary for being able to form their own personal real estate corporations, a battle OREA had taken up on behalf of its realtor members for over 15 years.”

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