By Allison Jones
The Ontario authorities is taking management of the province’s actual property regulator after an audit discovered points with its practices and organizational tradition.
The audit appeared into complaints in regards to the Actual Property Council of Ontario’s dealing with of a now-closed actual property brokerage, iPro Realty.
Amongst audit findings was that iPro informed RECO its belief accounts had a $10-million shortfall in Could, however the registrar didn’t freeze or monitor its accounts for almost three months.
The minister of public and enterprise service supply says in an announcement that the audit additionally raises issues about RECO’s potential to revive public confidence in the true property companies sector and defend shoppers in the course of the largest buy of their lives.
Stephen Crawford says given these findings, it’s essential to appoint an administrator to imagine management of and duty for RECO.
Jean Lepine’s appointment takes impact Monday.
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canadian press Jean Lepine Ontario authorities Actual Property Council of Ontario actual property market RECO
Final modified: November 28, 2025
