Joseph Richer is registrar of the Real Estate Council of Ontario. He is in charge of the administration and enforcement of all rules that govern real estate professionals in Ontario. You can find more tips at reco.on.ca, follow on Twitter @RECOhelps or on YouTube.
The industry leaders who attended didn’t always agree with RECO’s policy ideas... but the exchanges were thoughtful and respectful, and constituted a valuable learning experience for everyone involved.
There is a lot of support within the real estate industry for weeding out unethical or unprofessional behaviour. Self-policing can’t replace public sector regulation, but it’s a welcome extra layer of consumer protection.
RECO’s role is to protect consumers by enforcing the law and taking disciplinary actions as needed, but we can’t monitor every real estate trade that takes place in the province and we can’t punish bad behaviour we don’t know about.
Vito Campanale proposed an alternate way to obtain consent from buyers and sellers, in order to release the deposit back to the buyer if conditions are not fulfilled. Here’s RECO's position on this proposal.
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
REM is independently owned and operated, and is not affiliated with any real estate association or board.