Ontario Record Retention Requirements
TRESA and RECO Regulations
Trust in Real Estate Services Act, 2002
In Ontario, the Trust in Real Estate Services Act (TRESA) and its associated regulations set out the record-keeping obligations for real estate brokerages. The Real Estate Council of Ontario (RECO) enforces these rules.
Minimum 6 Years
Brokerages must retain all transaction records for a minimum of six years from the date the transaction was completed or the date the record was created, whichever is later. This includes all documents related to a trade in real estate.
Note that individual agents (salespersons and brokers) do not hold the records themselves — the brokerage they work for is responsible for maintaining all transaction files. If an agent moves to a different brokerage, the records stay with the original brokerage where the transaction took place.
What Records Are Brokerages Required to Keep?
Brokerages must maintain comprehensive records for every real estate transaction. These include but are not limited to the following categories.
Transaction Documents
- Agreement of Purchase and Sale
- Amendments, waivers, and notices
- All offers (accepted, rejected, and counter-offers)
- Condition fulfilment or waiver documents
Service Agreements
- Listing agreements
- Buyer representation agreements (BRA)
- Customer service agreements
- Referral agreements
Disclosure Documents
- Seller Property Information Statements (SPIS)
- Material fact disclosures
- Conflict of interest disclosures
- Multiple representation consent forms
Financial Records
- Trust account deposits and disbursements
- Commission statements and invoices
- Deposit receipts
- Trade record sheets
Why Record Retention Matters
Proper record keeping protects both consumers and real estate professionals. Here is why these retention rules are so important.
Legal Protection
In Ontario, the limitation period for most civil claims is two years from the date you discovered (or should have discovered) the issue. However, some claims can arise years after a transaction, making the six-year retention period an important safeguard.
Tax and Financial Purposes
The Canada Revenue Agency (CRA) requires that tax-related records be kept for at least six years from the end of the tax year they relate to. Real estate transaction records are essential for calculating capital gains, claiming expenses, and supporting tax filings.
Regulatory Compliance
RECO can audit brokerages at any time to ensure compliance with TRESA. Failing to maintain proper records can result in fines, suspension, or revocation of a brokerage's registration.
Future Property Sales
When you sell your property in the future, having access to original purchase documents, improvement records, and disclosure forms can help with pricing, due diligence, and answering buyer questions.
What You Should Keep as a Homeowner
While your brokerage is required to keep records for six years, it is wise to maintain your own copies for much longer. Here is what you should retain.
Recommended Documents to Keep Indefinitely
How to Request Your Transaction Records
If you need copies of your past transaction documents, follow these steps.
Identify the Brokerage
Determine which brokerage handled your transaction. Records stay with the brokerage, not the individual agent.
Contact the Brokerage
Call or email the brokerage's office and request copies of your transaction file. Provide the property address and approximate transaction date.
Verify Your Identity
The brokerage will need to verify your identity before releasing documents. Have government-issued ID ready.
Receive Your Copies
The brokerage will provide copies of your file. There may be a small administrative fee for retrieving archived documents.
What If the Brokerage Has Closed?
If the brokerage that handled your transaction has since closed, your records should still be accessible. Under Ontario regulations, when a brokerage ceases operations, it must transfer all transaction records to either:
If you are unable to locate your former brokerage, contact RECO directly at 1-800-245-6910 or through their website. They can help you determine where your records are being held and how to obtain copies.
Frequently Asked Questions
How long must a real estate brokerage keep transaction records in Ontario?
Under the Trust in Real Estate Services Act (TRESA) and its regulations in Ontario, real estate brokerages are required to keep transaction records for a minimum of six years from the date the transaction was completed or the date the document was created, whichever is later. This applies to all documents related to a trade in real estate.
What records do real estate agents keep?
Real estate agents and their brokerages keep a wide range of documents including the Agreement of Purchase and Sale, amendments, waivers, listing agreements, buyer representation agreements, disclosure forms, correspondence, offers (both accepted and rejected), trust account records, and any other documents related to the transaction.
Can I request copies of my real estate transaction records?
Yes, you have the right to request copies of your transaction records from your brokerage. Contact the brokerage that represented you in the transaction. They are required to maintain these records and should be able to provide copies. There may be a small administrative fee for retrieving archived files.
What happens to records if a brokerage closes?
If a brokerage closes, the Real Estate Council of Ontario (RECO) requires that all records be transferred to another brokerage or to RECO itself for safekeeping. The records must still be maintained for the required retention period. You can contact RECO if you cannot locate your former brokerage.
Do I need to keep my own copies of real estate documents?
Yes, it is strongly recommended that you keep your own copies of all real estate transaction documents indefinitely. While your brokerage is required to keep records for six years, having your own copies protects you in case you need them for tax purposes, future sales, insurance claims, or legal matters well beyond that period.