US Edition‘Decisive action is required:’ Ontario moves to take over real estate regulator
An audit revealed a $10 million trust-account shortfall at RECO and organizational issues, prompting the Ontario government to appoint an administrator to restore oversight.
- On Nov. 28, 2025 the Ontario government announced it is taking control of the Real Estate Council of Ontario and appointed Jean Lépine, administrator, to oversee RECO starting Monday.
- Findings showed weaknesses in RECO's practices and culture, raising concerns about its ability to protect consumers and restore public confidence, the audit found.
- The audit found that iPro reported a $10-million trust-account shortfall in May and the regulator did not freeze or monitor accounts for nearly three months.
- The move aims to restore RECO's consumer-protection focus, the government says it will let RECO return to its core mandate while the Ontario Real Estate Association pledged to support reforms.
- On Nov. 28, 2025, Crawford appeared at Queen's Park to address earlier government attention on real estate oversight issues.
27 Articles
27 Articles
Ford government to take control of Ontario’s real estate regulator Monday, assumes all powers of board
The province is appointing an administrator to oversee the Real Estate Council of Ontario (RECO) in the wake of the iPro scandal, which raised widespread concerns about the regulator’s ability to protect consumers from theft and fraud.
Ford government takes control of real estate regulator
The Ford government announced Friday it has appointed an administrator to take control of the Real Estate Council of Ontario, following an independent audit into the real estate regulator’s handling of what it describes as iPro Realty's "misappropriation" of funds.
Ford government to take control of Ontario’s real estate regulator Monday, assumes all powers of board
The province is appointing an administrator to oversee the Real Estate Council of Ontario (RECO) in the wake of the iPro scandal, which raised widespread concerns about the regulator’s ability to protect consumers from theft and fraud.
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