TORONTO, Dec. 31, 2019 /CNW/ - On December 31, 2019, under the authority of the Real Estate Business Brokers Act,2002 (REBBA) and in order to protect the public interest, the Registrar of the Real Estate Council of Ontario (RECO) issued an order to immediately suspend the registrations of:
RE/MAX North Country Realty Inc.
Operating in the following locations:
Huntsville (head office)
The order to suspend the registrations follows a Notice of Proposal to revoke the registrations of RE/MAX North Country Realty Inc.
All trading activities at RE/MAX North Country Realty Inc. and its registered branches must cease immediately.
RECO discovered a shortfall in RE/MAX North Country Realty Inc.'s statutory real estate trust account, where consumer deposits are to be held. Additional action may be taken and information will be made available through RECO's website.
Individuals who may be impacted by the Suspension Order are asked to use the contacts listed below:
Home buyers and sellers with questions about the suspension order, including whether a pending sale or purchase will be completed on time, should contact:
The Real Estate Council of Ontario regulates real estate professionals in the province on behalf of the Ontario government by enforcing the Real Estate and Business Brokers Act, 2002 (REBBA). We protect the public interest through a fair, safe and informed marketplace. RECO holds registered brokers and salespersons to professional standards, protects the public interest, and enhances consumer confidence in the real estate profession. In addition, RECO strives to educate consumers to ensure they understand the benefits of a regulated real estate sector.