RECO launches new website to help home buyers and sellers

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 Wright.

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:

Media Contact:
Sherri Haigh
Manager of Communications
sherri@reco.on.ca
Phone: 416 207-3108


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