Have Confidence in Your Real Estate Dealings

Buying a home is very exciting, but it can also be daunting, especially in a competitive or super-heated market. Before you jump in, it’s essential that you feel as confident and in control as possible. That’s why it’s a good idea to hire an agent who's in good standing with the Real Estate Council of Ontario (RECO).

We encourage you to speak with several agents before choosing the one who you feel best meets your needs, and to use RECO’S real estate professional search tool to check the status of your agent.

What does the RECO do?

Like many other professionals — including lawyers, accountants, teachers, nurses, and engineers — real estate agents and brokerages are regulated in Ontario and in other provinces as well. The RECO enforces the Ontario government’s Real Estate and Business Brokers Act, 2002 to protect buyers and sellers. Our mission is to promote a fair, safe, and informed real estate market.

While most agents follow the rules, unfortunately — as in all professions — there are some who do not. If we receive a complaint about an agent or brokerage, we'll investigate and take appropriate action.

Education to meet the needs of buyers and sellers

Before they're allowed to become registered with the RECO and to trade in real estate, aspiring agents must pass a set of comprehensive exams to ensure they understand the rules and have the expertise to provide the best service possible to their clients. This includes having a thorough grasp of many topics, such as:

Laws that apply to real estate transactions Rightsandresponsibilitiesofagentandclient Terms and conditions of agreements Multiple offers

Pre-emptive (or bully) offers Advertising rules

Lockboxes

Mortgages

Home inspections

Insurance to protect you and your money

Through the RECO, your agent is also insured. Consumer deposit insurance protects your deposit in the event of fraud, misappropriation of funds, or insolvency, and is available at no cost to those who hire a brokerage.