Statement from TRREB, Cornerstone, OREB, OnePoint, and CLAR on Ford Government Review of RECO

Core Points - Ontario's five largest REALTOR® associations support the Ford government's intervention in the review of the Real Estate Council of Ontario (RECO) following the iPro Realty Ltd. investigation [1] - The associations advocate for a comprehensive review of RECO's governance and practices, emphasizing the need for reforms such as Ombudsperson oversight and stronger accountability measures [2][4] - The iPro Realty investigation has raised concerns about transparency and accountability within Ontario's real estate regulator, impacting consumer confidence and the reputation of honest REALTORS® [3] Recommendations - The associations recommend bringing RECO under the oversight of Ombudsman Ontario, similar to real estate regulators in British Columbia and Québec, to enhance consumer protection and professionalism [4] - There is a commitment from the associations to collaborate with the government to ensure the review leads to a transparent and effective regulatory body [5]