REIC introduces screening to increase confidence in brokers

This week, the nonprofit membership organization announced the launch of REIC Verified, a screening process that validates the backgrounds of real estate professionals.

The verification includes criminal record status, employment history, education records and standings with the appropriate regulatory authorities across Canada.

Inouye told Real Estate Magazine that he grew tired of “chasing people” who were not honest about their credentials, designations and certifications.

“I wanted to take a different lens and approach. Instead of chasing the bad actors – because they will always exist – I wanted to develop a way where I could shine a bright light on people who play by the rules,” he said.

Verification also prevents identity fraud, says Inouye. He said there were complaints at his office about officers’ behavior, and he couldn’t find the officer because they didn’t give their legal name to their client.

How it works

Verification costs a flat fee of $150 and takes up to 72 hours.

Every piece of information, including the legal name, number of license years, and legal location of the practice, is confirmed by third-party providers.

Agents who pass verification are given a QR code that customers can scan to see their status. They will also receive a badge to place on their social media and email signature.

Inouye is clear that the endeavor is not about making money, saying the organization will be keen to break even on costs.

Remax becomes an early adopter

So far, a few hundred officers have been verified, Inouye said. His goal is to get as many agents verified from coast to coast as possible.

He took a big step in that direction when Remax Canada became the first national real estate brand to adopt the service and make it available to more than 25,000 agents in its Canadian network.

In a statement, Remax Canada president Don Kottick said that by adopting REIC Verified, they are reminding Canadians that “professional excellence and transparency matter.”

Inouye said he didn’t necessarily expect to launch the initiative by partnering with real estate brands.

“I thought I was going to do that dealing with organized real estate. I thought they would roll this out to their entire membership, but it certainly didn’t turn out that way.”

He said supervisors have not been active participants so far, but he is working with two county supervisors to form partnerships.

Stand up for resistance

Inouye suspects that there will be resistance to the initiative.

“I believe this industry has forever done the minimum that a regulator requires, and they’ve gotten used to it, and now I’m asking them to do more,” he said. “I’m asking them to consider a different perspective. But maybe, just maybe, the public has a right to know.”

He said the need for verification is at an all-time high, given the extreme cases of misconduct in the real estate industry in recent years.

Last year, news broke of a $10.5 million deficit in the trust account of iPro Realty Ltd. turned the entire sector upside down. The Real Estate Council of Ontario’s (RECO) handling of the situation resulted in the regulator being placed under the control of a government administrator.

Also in 2025, former Calgary real estate agent Eric Drinkwater was permanently banned from dealing in real estate in Alberta after admitting to defrauding 71 people of more than $3.5 million in a Ponzi scheme. In its decision, the independent hearing panel described his conduct as “among the most serious” the Real Estate Council of Alberta has ever addressed.

“I think the majority of people in the market who do this for a living work hard, are professionals and do a good job,” he said. It’s coming. “But there are many who don’t, and if there’s anything we’ve learned from iPro it’s that even the people we didn’t think were doing things were doing things in plain sight.”