US EditionFord Government Threatens to Take Control of Real Estate Watchdog as Realtors Call for Answers
Ontario's top five REALTOR associations, representing over 90,000 members, back government action for stronger oversight and reforms following serious trust account violations.
- Ontario's five largest REALTOR associations backed the Ford government's intervention in the Real Estate Council of Ontario review following the iPro Realty Ltd. investigation, representing more than 90 per cent of nearly 100,000 REALTORS.
- Trust-Account breaches by iPro Realty Ltd. were described as a serious matter that speaks directly to consumer confidence and professional integrity, highlighting the need for enhanced transparency and accountability at the Real Estate Council of Ontario .
- The associations urged reforms including Ombudsperson oversight, stronger accountability measures, and enhanced enforcement tools to safeguard consumer deposits, noting Ontario could follow precedents like Ombudsman Ontario oversight.
- Signed by association leaders Elechia Barry-Sproule, Julie Sergi, Paul Czan, Bonnie Looby, and Christine Riley, the recommendation reflects their commitment to consumer protection and professionalism.
- Real estate regulators in other provinces, such as British Columbia and Québec, already fall under provincial Ombudspersons, and the groups said Ontario aligning RECO with Ombudsman Ontario would match this precedent.
11 Articles
11 Articles
Ford government threatens to take control of real estate watchdog as realtors call for answers
The Ford government is threatening to intervene and take over the province’s real estate watchdog if an audit doesn’t get to the bottom of a scandal that enveloped a large Ontario brokerage.
Ford government prepared to ‘assume control’ of real estate watchdog if not satisfied with audit in wake of iPro Realty scandal
Letter from Minister Stephen Crawford says government expects sweeping audit of real estate watchdog to “examine the roles, responsibilities, actions and decisions” of all RECO staff, management and board members who handled iPro case.
Statement from TRREB, Cornerstone, OREB, OnePoint, and CLAR on Ford Government Review of RECO
Our associations welcome a full review of RECO's governance and practices. This process must deliver meaningful reforms, including Ombudsperson oversight, stronger accountability measures, and enhanced enforcement tools to safeguard consumer deposits and restore public confidence.
Coverage Details
Bias Distribution
- 60% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
