Use a Registered Broker Or Salesperson
Buying or selling a home is one of the biggest financial transactions you’ll ever make. That’s why it’s crucial that you work with experienced and accredited professionals.
In Ontario, the Real Estate Council of Ontario (RECO) regulates real estate brokerages, brokers and salespersons in the public interest on behalf of the Ministry of Consumer Services.
Among other responsibilities, RECO enforces standards required to obtain and maintain registration as a brokerage, broker or salesperson.
All brokers and salespersons are required to be insured. The insurance program administered by RECO includes consumer deposit insurance. In the event of fraud, misappropriation of funds or insolvency, there could be coverage available to consumers of up to $100,000 per claim to a maximum of $500,000.
Before you engage a real estate broker or salesperson, confirm that he or she is registered with RECO by using the search feature on its website.
