Established in 1997, Ontario Real Estate Board (RECO) is a non-profit corporation that regulates real estate trading in Ontario for the public good. On behalf of the Ontario government, RECO manages and enforces the Real Estate and Business Broker Act 2002 (REBBA 2002) and its regulations.
As a regulator, RECO ensures real estate professionals follow rules designed to uphold industry integrity and protect consumers. In Ontario, any individual or business trade in real estate must be registered with RECO. As of July 31, 2017, there are over 80,000 real estate registrants (sellers, brokers and brokers) in the province.
Video Real Estate Council of Ontario
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RECO is governed by 12 members of the Board of Directors consisting of nine registered real estate professionals selected by their counterparts and three non-registries designated by the Consumer Services Minister to represent consumers, businesses and governments. Board members served for three years. The chair was Glenda Brindle. The Vice-Chair is Rebecca Ryder.
The task of enforcing REBBA 2002 is the responsibility of the Clerk, Joseph Richer.
Maps Real Estate Council of Ontario
Complaint
Anyone who is concerned about the services provided by real estate professionals can file a complaint with RECO. The complaint form is available on the RECO website (www.reco.on.ca). Once a complaint is received, RECO will conduct an inquiry as required. The clerk will determine the appropriate response.
RECO has no authority to settle any financial or contractual disputes or provide any form of compensation to the complainant.
Registrant Search Features
Only RECO provides information about every individual registered to trade in real estate in Ontario. The "Registrars Search" feature on the RECO website is a tool that allows consumers to confirm whether they are dealing with someone legally registered to trade in real estate in Ontario and whether that person has been the subject of any disciplinary activity.
Resources
RECO reaches out to consumers and real estate professionals by publishing bulletins, posting videos, attending trade shows as well as through social media (Twitter: @RECOhelps).
Clerk Joseph Richer answers general questions from buyers and home sellers in the weekly "Ask Joe" column that appears in the Saturday Star Toronto edition.
References
External links
- RECO website
Source of the article : Wikipedia
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