What does RECO mean in GOVERNMENTAL

RECO's primary role is to regulate real estate professionals in the province of Ontario. Its mandate involves registering, licensing, disciplining and educating brokerages and their representatives who provide services such as buying and selling homes, leasing commercial property or providing mortgage financing services.

The provincial government of Ontario is responsible for regulating RECO through legislation such as the Real Estate and Business Brokers Act. The Board of Directors also oversees operations at RECO on behalf of the government.

In order to become a registered real estate professional in Ontario, you must fulfill certain requirements set out by RECO. This includes taking courses approved by RECO to meet educational requirements and passing an examination administered by the organization. Once you have fulfilled these prerequisites, you can apply for registration with RECO through their online portal.

Registered real estate professionals must adhere to strict standards set out by RECO in order to maintain their licence including completing ongoing education requirements, staying up to date on industry developments and following all applicable laws and regulations outlined by the organization. Additionally they must exercise fair dealing when it comes to both customers and other industry members while maintaining high ethical standards when conducting business.

If a real estate professional violates any policies outlined by RECO, they may face disciplinary action which could include an administrative penalty or suspension/revocation of their licence depending on the severity of the infraction. Depending on the infraction there may also be legal ramifications that could lead to fines or imprisonment.