Latest Updates Around The World
As the Ontario market cools, broker acquisitions and moves appear to be accelerating. But behind every banner change and headline announcement lies a detailed web of paperwork and processes that few ever see. Several big-name transactions have taken place over the past six months. In June 2025, KIC Realty made its acquisition of Red Rose […]
Raman Dua, broker and CEO of Save Max Real Estate Inc. (source: Save Max). Ontario’s real estate regulator has taken enforcement action against four Save Max brokers after an investigation revealed millions of dollars had been unlawfully withdrawn from real estate accounts. In a Feb. 3 notice, the Real Estate Council of Ontario (RECO) said […]
Real Estate Council of Ontario (RECO) says real estate agents involved in the collapse of iPro Realty Ltd. Will receive 100 percent of their eligible unpaid commissions. The regulator announced the news on Wednesday after the first 50 percent prorated payments began flowing to claimants last month. Funds from RECO’s insurance program stability fund are […]
Real Estate Magazine invites industry professionals to share their views on the issues shaping the current real estate landscape. Submit a letter to the editor to add your voice to the conversation. I am writing to urgently draw attention to a fundamental flaw in Ontario’s real estate regulatory and insurance framework, a flaw that is […]
Brenda Buchahan will step down as CEO of the Real Estate Council of Ontario (RECO) at the end of this year. RECO released a statement on Thursday afternoon from Jean Lépine, the administrator appointed for three weeks ago to take control of the regulator on behalf of the provincial government, confirming that Buchanan “has made […]
The Ontario government will take control of the Real Estate Council of Ontario (RECO), Minister Stephen Crawford has announced. In a letter to RECO President Katie Steinfeld and CEO Brenda Buchanan Friday morning, Crawford said he has appointed veteran communications and government relations professional Jean Lepine as RECO’s administrator, effective Monday. “Over the past three […]
Former iPro Realty Ltd. agent Nayaki Penumarthy says the fallout from the $10 million trust account scandal that surfaced in August has left scars on her and her family. The Burlington real estate agent said she owes $170,000 in sales commissions, which has affected her ability to pay her bills and even left her in […]
New revelations have come to light that fill in the gaps in what could be the biggest Canadian real estate story of 2025: the $10 million iPro Realty Ltd. trust account scandal. The trust fund fraud’s approach to it has been as studied and investigated as the trust fund fraud itself Real Estate Council of […]
Paul Poliszot, 2021 (supplied) The Real Estate Council of Ontario (RECO) has issued an order freezing the bank accounts of Oakville, Ontario-based Rexig Realty Investment Group. The regulator has also made a proposal to revoke the registrations of both the brokerage and broker Paul Poliszot, director and president of the brokerage. The measures, announced on […]
Real Estate Council from Ontario (RECO) says that the insurance program manager who the iPro Realty Ltd. -Handling issue, works on processing the “considerable volume” of the security claims of the agent protection within a few months. A update On Wednesday released by Reco offers a glimpse into the insurance benefit situation for consumers and […]
