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For the Consumer - Information about RECO
The Real Estate Council of Ontario administers the Real Estate and Business Brokers Act (REBBA) on behalf of the Ontario Ministry of Consumer and Business Services. RECO's mandate is twofold:
To administer the regulatory requirements of the real estate industry as set down by the Government of Ontario
To protect consumers and members through a fair and safe and informed marketplace.
In addition to administering the Act, RECO has its own By-laws, which have been used to accomplish certain consumer protection objectives pending future real estate act reform and allow RECO to provide effective governance of the real estate profession.
Under the Act, membership in RECO is a condition of registration. All registrants are therefore required to adhere to the terms and conditions of membership in RECO.
RECO is governed by a 12-member Board of Directors, which includes nine elected representatives from the profession and three ministerial appointees to represent consumers, business and government. RECO delivers services through the structure outlined in the organizational chart (to the right).
Operating revenues are derived from registration fees. RECO operates on a not-for-profit basis, with any excess revenue invested into improvements in compliance, public information and accessibility, education and technology.
RECO's vision is:
Public trust in the real estate marketplace.
RECO's mission is:
To provide a regulatory environment that earns the full confidence of consumers, registrants and government.
RECO's mandate is:
To administer the regulatory requirements of the real estate industry as set down by the Government of Ontario and to protect consumers through a fair, safe and informed marketplace.
For enquiries or complaints related to the conduct of a broker or salesperson and RECO's Code of Ethics, email RECO here ccd@reco.on.ca
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