Ontario’s real estate industry regulator is ineffective, Auditor-General says

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Auditor-General Bonnie Lysyk’s report found the Real Estate Council of Ontario does not adequately ensure that the industry complies with the regulations and has failed to do enough to protect consumers

released on Wednesday, Auditor-General Bonnie Lysyk found the Real Estate Council of Ontario does not adequately ensure that the industry complies with the regulations and has failed to do enough to protect consumers.

The Auditor-General identified a host of other shortcomings ranging from RECO’s failure to track and analyze complaints, which would help it identify and address systemic problems, to a lack of protocols to ensure that students do not cheat on virtual real estate exams. “It is probable that money laundering is occurring undetected in Ontario’s real estate market,” Ms. Lysyk said in a press release accompanying

recommended that RECO work with FINTRAC to share information. It also recommended that RECO update its procedures to ensure that brokerages’ reporting obligations are properly reviewed.

 

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Ya think!!!!! Many agents in that industry are so corrupt and they the reason for a hyperinflated housing market. Only after the money for themselves.

Who knows who is a better? Who is a Judas, who is Christ It is a really doesn't matter Now we are both that's how it is

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