Regulator's tips on open houses, grow ops and other topics
TORONTO, April 14 /CNW/ - The Real Estate Council of Ontario (RECO) has
launched a new consumer-friendly website to ensure home buyers and
sellers have easy access to helpful resources and understand the
benefits of a regulated industry.
RECO is responsible for the administration of the Real Estate and
Business Brokers Act 2002 (REBBA 2002) which regulates the trade of
real estate in Ontario.
"We believe the public will benefit from the information we have on our
website and the new tools and features that can help them make more
informed decisions before buying or selling a home," said Tom Wright,
President/CEO of RECO.
One of the most important aspects of the website is the registrant
search feature which will confirm whether an individual or brokerage is
registered to trade in real estate in Ontario.
"Consumers who deal with a registered real estate professional have the
benefit of consumer deposit insurance. In recent years, some home
buyers have lost their deposits because they unwittingly dealt with
someone who was not registered," said Wright.
"As a regulator, RECO is an independent source of information which can
help home buyers and sellers have confidence in the process," added
RECO's website features a number of consumer bulletins regarding
specific topics such as planning for an open house, tips to spot a
home that may have been a grow op, and how to avoid being led into a
mortgage fraud situation.
"Through our website, the public can also access the consumer brochure
Buying or Selling Your Home? which has been translated into six
languages," said Wright.
To view RECO's new consumer website, log on to www.reco.on.ca
SOURCE Real Estate Council of Ontario
For further information:
Manager of Communications
Phone: 416 207-3108