TORONTO – The Ontario government is stepping in to take over the province’s real estate regulator after an audit uncovered problems with how it operates and its workplace culture.
The review focused on complaints about the Real Estate Council of Ontario’s way of handling a now-shuttered brokerage called i Pro Realty.
One big finding was that i Pro told RECO back in May that its trust accounts were short by $10 million, but the registrar didn’t freeze or even keep an eye on those accounts for almost three months.
Over the past 3 months, I’ve heard from consumers, boards, realtors & brokers who’ve lost confidence in Ontario’s real estate regulator.
Our government is taking action to restore trust and to protect Ontarians.
Today, I directed that an administrator assume control of RECO… pic. twitter. com/gk K1h NG5Tt
– Stephen Crawford (@stcrawford2) November 28, 2025
The minister responsible for public and business service delivery said in a statement that the audit also brings up worries about RECO’s ability to regain public trust and safeguard consumers during what might be the biggest purchase they ever make.
Stephen Crawford said because of these findings, it’s necessary to put an administrator in charge of RECO.
Jean Lepine will officially take over starting Monday.
