About Real Estate Council of Ontario
Real Estate Council of Ontario (RECO) is the regulatory body that governs real estate professionals in Ontario, Canada. Established in 1997, RECO is responsible for enforcing the Real Estate and Business Brokers Act (REBBA) and associated regulations to ensure that consumers are protected when buying or selling property.
With a mandate to promote professionalism and ethical conduct among real estate professionals, RECO sets standards for education, licensing, and continuing education. The council also investigates complaints against real estate agents and brokers who violate the rules set out in REBBA.
As a consumer-focused organization, RECO provides valuable resources to help buyers and sellers make informed decisions about their real estate transactions. The council's website offers a wealth of information on topics such as buying or selling a home, working with an agent or broker, understanding contracts and agreements, and resolving disputes.
In addition to its regulatory role, RECO also plays an important role in promoting public awareness of issues related to real estate. The council regularly publishes articles on its website about trends in the housing market, changes to legislation affecting the industry, and tips for consumers looking to buy or sell property.
One of the key benefits of working with a registered real estate professional is access to RECO's complaint resolution process. If you have concerns about your agent's conduct during your transaction – such as misrepresentation or failure to disclose important information – you can file a complaint with RECO. The council will investigate your complaint thoroughly and take appropriate action if necessary.
To become licensed by RECO as a salesperson or broker in Ontario requires completing pre-registration courses from an approved provider followed by passing exams administered by OREA College (Ontario Real Estate Association). Once licensed there are ongoing requirements for continuing education credits every two years which includes mandatory courses on ethics/professionalism/anti-money laundering etc., plus elective courses covering various aspects of residential/commercial/industrial/investment properties etc..
In conclusion: If you're planning on buying or selling property in Ontario it’s essential that you work with registered professionals who adhere strictly to ethical standards set out by Real Estate Council Of Ontario (RECO). By doing so you can be confident that your interests are being protected throughout every stage of your transaction - from initial consultation through closing day!
reco.on.ca
