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Ontario government considering taking control of RECO over handling of iPro Realty scandal
Ontario plans to appoint an administrator after a Dentons report revealed failures in RECO's handling of a $10 million trust-fund shortfall affecting 110,000 licensed realtors and brokers.
- On Thursday, the minister posted a notice to RECO, gave 15 days for response, and signaled possible appointment of an administrator, according to Stephen Crawford, Public and Business Service Delivery Minister.
- Dentons Canada LLP, independent investigator, found RECO's registrar Joseph Richer deviated from typical process by negotiating an Undertaking Agreement and failing to monitor iPro accounts before Aug. 8, 2025.
- The iPro case involved a trust‑fund shortfall exceeding $10‑million, with RECO's investigation on May 19 revealing about $8 million allegedly taken; the brokerage had roughly 2,400 agents.
- The minister said the report raised concerns about RECO's ability to protect consumers and pledged to ensure strong protections while rebuilding confidence among homebuyers in Ontario.
- Although arm's‑length, the province retains oversight and RECO administers licensing for 110,000 realtors and brokers as a non‑profit funded by licensee fees, and plans to implement Dentons recommendations quickly while working with Ontario government oversight.
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19 Articles
19 Articles
Province looks to step in after $8M iPro Realty real estate scandal
Minister of Public and Business Service Delivery and Procurement Stephen Crawford said in a post on X he wants to appoint a government administrator to oversee the Real Estate Council of Ontario (RECO)
·Cambridge, Canada
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OREA & TRREB Statement: Province's Intention to Appoint RECO Administrator
TORONTO, Nov. 14, 2025 (GLOBE NEWSWIRE) -- "The Ontario Real Estate Association (OREA) and Toronto Regional Real Estate Board (TRREB), representing nearly 100,000 REALTORS®, fully support Minister Stephen
·New York, United States
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Ford Govt to Seize RECO Control: 15-Day Deadline
Archyde Ontario’s Power Play: What the Ford Government’s RECO Takeover Means for Your Energy Future Imagine a future where your home energy costs are significantly more predictable, and the process of… You can read the full story here: Ford Govt to Seize RECO Control: 15-Day Deadline.
Coverage Details
Total News Sources19
Leaning Left10Leaning Right1Center4Last UpdatedBias Distribution66% Left
Bias Distribution
- 66% of the sources lean Left
66% Left
L 66%
C 27%
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