Reco stands for The Real Estate Council of Ontario. It is self managed and a non profit corporation. Reco is responsible for putting forth the Real Estate and Business Brokers Act, 2002 and similar regulations from the provincial government that protect the public’s interest with fair, safe and informed news. Reco was put together in 1997 and was a delegated administrative authority.

It stood under the Safety and Consumer Statutes Administration Act. This was because of the government and the real estate industry who wanted an improved efficient and effective regulatory base. The Ministry of Consumer Services continues to be responsible and look into the Real Estate and Business Brokers Act 2002 and overseeing Reco.

To meet its regulatory obligations, Reco will be bringing in two new fee changes. The first fee changes are for registrations and transfers in ten years. The following changes will start April 1, 2010.

-The registration fee for salesperson category will change from $250 to $250 for a 2 year registration time. It will bring the fee together with all the other categories such as broker and brokerages which remain at $350 for a two year cycle.

-The fee for salespersons that transfer from one brokerage to another will change from $50 to $100. These changes are set by Reco’s Board of Directors. They consider and review all administrative and enforcement activities as well as containment measures. The circumstances that affect the fees include:

-activities and costs that are related to administration and enforcement of the Real Estate Business Brokers Act, 2002 that increased over the last ten years.

-more awareness of Reco has increased public and registrant inquiries.

-these changes will let Reco meet current and future endeavours. It will allow them to improve service and delivery for registrants and affect its consumer protection mandate.

The effective date of the renewal is April 1, 2010 or later. Applications that get submitted to Reco prior to April 1, 2010 will be part of the fee change.

The Core Purpose- Reco wants to foster confidence and uphold integrity in all real estate transactions.

Mission- Regulating the activity of trading in real estate

Responsibility- To interpret, enforce and suggest any modification to the regulations.

Relationship- Reco has a contract with the government to uphold the Real Estate and Business Brokers act and they must act in accordance with the Administrative Agreement.

Core Values- Reco is dedicated to organized behaviour that is set by:

Integrity: Being truthful and trustworthy

Accountability: Work the Act competently and in line with the law.

Fairness: To act impartially and fairly.

Respect: Treat everyone with respect and courtesy.

If you want to submit a complaint to Reco you must:

-do it in writing

-include your name, phone number, address and other contact information

-you have to include the name of the registrant and the allegation of misconduct

-include as much detail and supporting data that you possibly can remember

After the complaint is received the Office of the Registar will conduct a review of your complaint and respond in writing to:

-acknowledge they received the complaint

-to let you know they understand your complaint

-request any documents for proof of the complaint

-request a signature of a form to share your complaint with the registrant.