RECO issues public advisory regarding HomeLife Today Realty Ltd.

December 10, 2025 – Under the authority of the Trust in Real Estate Services Act, 2002 (TRESA), the Real Estate Council of Ontario (RECO) has taken action with respect to a Toronto-based brokerage.

As part of a planned pre-inspection process on November 28, 2025, RECO identified a potential shortfall in the brokerage’s accounts. During its onsite inspection on December 2, 2025, RECO confirmed a significant shortfall, totaling approximately $580,000, in the Real Estate Trust Account that the brokerage has been unable to correct.

Safeguarding funds held in trust

On December 4, RECO issued a freeze order on the bank accounts of HomeLife Today Realty Ltd., located at 11 Progress Avenue, Unit 200, Toronto, ON M1P 4S7 Canada. The brokerage presently has 18 agents. RECO received confirmation from the bank that all the accounts were frozen on December 10, 2025.

By issuing this freeze order, RECO has taken steps to protect the funds in the brokerage’s bank accounts. When necessary, RECO issues freeze orders against brokerages to prevent funds from being withdrawn from a brokerage’s accounts to protect consumer deposits.

RECO is actively engaged in this matter and further actions may follow.

Resources for those affected

RECO recognizes that consumers who have been represented by HomeLife Today Realty Ltd and agents/brokerages who have clients that are party to a transaction involving HomeLife Today Realty Ltd. may be affected by the freeze order and will require more information.

For buyers and sellers: Contact your agent or HomeLife Today’s broker of record.
In the event you need to file a consumer deposit insurance claim, forms are available on the RECO website.
For agents: Agents with outstanding commissions should file a commission protection insurance claim. Forms are available on the RECO website.
For sellers with active listings: The brokerage is still open. Your agent can continue to market your property for sale/lease. There is no need to file any insurance claim at this time.

Additional contact information

The following contacts are available to assist those with questions or concerns about the impact of this freeze order:

Home sellers and buyers with questions about a pending sale or purchase, or any commissions owed to HomeLife Today Realty Ltd., please contact RECO:
Dipak Parmar
Phone: (416) 207-3118
Toll Free: 1-800-245-6910, ext. 3118
Email: Dipak@reco.on.ca

Home buyers or sellers with questions about consumer deposits and insurance coverage, please contact RECO:
Insurance department
Phone: 416-207-4800
Toll Free: 1-800-245-6910
E-mail: insurance@reco.on.ca

Brokerages involved in trades with HomeLife Today Realty Ltd., where HomeLife Today Realty Ltd., holds the deposit and/or are owed commissions by HomeLife Today Realty Ltd., please contact RECO:
Insurance department
Phone: 416-207-4800
Toll Free: 1-800-245-6910
E-mail: insurance@reco.on.ca

Employees or former employees of HomeLife Today Realty Ltd., with questions about commissions, please contact the claims adjuster for RECO’s insurance program:
ClaimsPro
Phone: 1-877-740-1913
Fax: 1-866-735-1033
E-mail: claims@reco-claims.ca

Note: The insurer requires one Notice of Claim Commission Protection form to be completed and submitted for each trade. Claim forms are located on RECO’s website.

Agents with questions about how to transfer their registration to a different brokerage, please contact RECO:
Juliette Tersigni
Phone: (416) 207-4831
Toll Free: 1-800-245-6910 ext. 4831
Email: juliette.tersigni@reco.on.ca

Information for home buyers and sellers

I am an impacted consumer. Will I lose my deposit because of the freeze?
The freeze was put in place to safeguard funds and secure business operations. This is now an insurance process, and we urge anyone with consumer deposits to file a claim.

I have a deposit that is held by HomeLife Today Realty Ltd. Do I have to go through the consumer deposit claims process?
Yes. Please file a consumer deposit insurance claim under the professional liability insurance program. More information is available on the RECO website.

I sold a house through HomeLife Today Realty Ltd. and the closing date is approaching. Is the deal still valid?
A freeze order does not affect the validity of the Agreement of Purchase and Sale between a buyer and a seller. Sellers or buyers who are concerned about whether their pending sale or purchase will close as scheduled should seek advice from their lawyer. For general inquiries about deals that are closing and how the freeze may impact them, you may contact:

Attn: Dipak Parmar
Phone: (416) 207-3118
Toll Free: 1-800-245-6910, ext. 3118
Email: Dipak@reco.on.ca

Are seller or buyer representation agreements with HomeLife Today Realty Ltd. still valid?
The brokerage remains open, and the broker of record will ensure the orderly closure of transactions.

My client purchased a house listed by HomeLife Today Realty Ltd. and is expecting a portion of the deposit on the closing date. What should my client do?
Consumers who are owed deposit money from the brokerage when a transaction closes can submit consumer deposit insurance claims under the Insurance Program. Consumer deposit coverage is cost-free to consumers. Payment of any claim is subject to the terms of the insurance policy.

Please file a consumer deposit insurance claim under professional liability insurance program.

Registrant insurance claims process

I am a real estate agent with commissions owed to me. How long will it take for the insurer to evaluate a commission claim?
The insurer conducts its own investigation and tries to expedite claims as quickly as possible. However, the insurer also needs to be aware of all or most of the claims against the brokerage before it can process claim payments. The maximum claim amount a broker or salesperson may make is $200,000. The maximum amount of coverage for all commission protection claims relating to one occurrence is $4,000,000. Payment of any claim is subject to the terms of the insurance policy.

I know that there have been insurance claims because of the iPro matter. Will there be insurance coverage available for this event?
Yes. This is a separate event and will not be affected by other matters for which insurance claims are being made.

How do I get paid commissions owing from a brokerage under a freeze order?
Agents with outstanding commissions should file an insurance claim under the commission protection insurance program.

I collected a deposit cheque from a consumer just prior to the freeze order. Do I deposit that cheque in the frozen trust account of my brokerage?
RECO will arrange to have the money deposited in the brokerage’s frozen account. Brokerages with buyer clients required to provide deposits to HomeLife Today Realty Ltd. should contact RECO for instructions. Please be prepared to provide the certified cheque, bank draft, or money order, payable to the brokerage, and the paperwork in relation to the transaction to RECO and immediately contact:

Dipak Parmar
Phone: (416) 207-3118
Toll Free: 1-800-245-6910, ext. 3118
Email: Dipak@reco.on.ca

We owe commissions to HomeLife Today Realty Ltd. What do we do now?
Your brokerage must pay the full amount of outstanding commission as it normally would. RECO will arrange to have the money deposited in the brokerage’s frozen account. Please contact RECO for instructions immediately. Be prepared to provide the certified cheque, bank draft, or money order, payable HomeLife Today Realty Ltd. and the paperwork in relation to the transaction to:

Attn: Dipak Parmar
Phone: (416) 207-3118
Toll Free: 1-800-245-6910, ext. 3118
Email: Dipak@reco.on.ca

Please note that Electronic Funds Transfers (EFT) will not be accepted.