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iPro Realty Ltd. Shut Down by Ontario’s Real Estate Watchdog
The Real Estate Council of Ontario found an $8 million shortfall in iPro Realty's trust accounts, prompting the winding up of operations affecting 2,400 agents across 17 branches.
- On August 19, 2025, the Real Estate Council of Ontario finalized a wind-up with iPro Realty Ltd. to close all 17 branches.
- Amid a routine RECO review, a significant shortfall emerged in iPro Realty Ltd.'s accounts, initially exceeding $10-million and now about $8-million, RECO said.
- Approximately 2,400 agents will be affected, with iPro arranging for iCloud Realty Ltd. to assume all branch locations to support RECO registration.
- Pending home-sale transactions will continue, with commissions managed by RECO and overseen by a qualified broker of record and a chartered public accountant.
- Before Aug. 19, agents must transfer through MyWeb with a $25 fee to avoid registration termination, RECO said, and insurance payouts are capped at $4 million with a $200,000 limit per claimant.
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11 Articles
11 Articles
The Toronto Star+2 Reposted by 2 other sources
Toronto-area real estate brokerage shuttered due to financial mismanagement, affecting 2,400 agents
Ontario’s regulator said it identified ‘a significant shortfall’ in the accounts of iPro Realty Ltd., which employs 2,400 agents.
·Toronto, Canada
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Bradford Today+2 Reposted by 2 other sources
iPro Realty closing after 'serious breach' of responsibilities
Regulator says 'significant shortfall was identified in iPro's accounts'; decision has implications on Bradford branch
·Bradford West Gwillimbury, Canada
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iPro Realty Ltd.’s 17 branches to close following RECO investigation
Real Estate Council of Ontario (RECO) has announced that Mississauga-based iPro Realty Ltd., one of the province’s largest brokerages, will permanently close all 17 of its locations effective Aug. 19. The closure follows the discovery of a “significant shortfall” in the company’s accounts during a scheduled inspection. RECO says it has finalized an undertaking with iPro to wind down operations. The agreement allows for the completion of current…
Coverage Details
Total News Sources11
Leaning Left6Leaning Right0Center3Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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