RECO issues Public Advisory regarding RE/MAX Right Choice Inc.

On November 1, 2017, under the authority of the Real Estate Business Brokers Act, 2002 (REBBA), the Real Estate Council of Ontario (RECO) issued a Freeze Order, freezing bank accounts of:

RE/MAX Right Choice Inc., of 6464 Yonge St #250, Toronto, ON M2M 3X4.

Freeze Orders are invoked by RECO against brokerages when required to prevent funds from being withdrawn from a brokerage’s accounts in order to protect consumer deposits. A RECO inspection revealed irregularities in the finances of RE/MAX Right Choice Inc., and the matter is being investigated further. Additional action may be taken and information will be made available through RECO’s website.

Individuals concerned about the impact of this Freeze Order are asked to use the contacts listed below:

Home buyers and sellers with questions about the impact of the freeze order, including whether a pending sale or purchase will be completed on time should contact:
Dipak Parmar
Phone: (416) 207-3118
Toll Free: 1-800-245-6910, ext. 3118
Email: dipak@reco.on.ca

Questions about consumer deposit claims, or other insurance-related inquiries, should be directed to RECO’s Insurance Department:
Jeremy Meuris
Phone: (416) 207-4841
Toll Free: 1-800-245-6910, ext. 4841
E-mail: insurance@reco.on.ca

Cooperating brokerages for trades in which RE/MAX Right Choice Inc., holds the deposit and/or are owed commissions by RE/MAX Right Choice Inc. should contact:
Jeremy Meuris
Phone: (416) 207-4841
Toll Free: 1-800-245-6910, ext. 4841
E-mail: insurance@reco.on.ca

Employees of RE/MAX Right Choice Inc., with questions about commissions should contact the claims adjuster for RECO’s insurance program:
ClaimsPro LP
Toll Free: 1-877-740-1913
Toll Free Fax: 1-866-735-1033
E-mail: claims@reco-claims.ca

The insurer requires one Notice of Claim Commission Protection form per trade.  Claim forms are located on the insurer’s website: www.reco-claims.ca

Questions about the procedures for transferring a registration to a new brokerage should contact:
Angela Volpe
Phone: (416) 207-5142
Toll Free: 1-800-245-6810 ext. 5142
Email: registration@reco.on.ca



For media enquiries, please contact:
M. Daniel Roukema
Senior Advisor, External Communications
Real Estate Council of Ontario
(416) 207-3102
Email: daniel.roukema@reco.on.ca

About RECO:
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. For more information, visit www.reco.on.ca.


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