Monster Realty Corporation operating as Brekland Realty Group – Feb. 2012
Regulator issues freeze order and suspends registration of brokerage
Thursday Feb. 2, 2012 (Toronto) – Monster Realty Corporation, operating as Brekland Realty Group of Mississauga, was registered under the Real Estate Business Brokers Act, 2002 (REBBA 2002).
Effective Wednesday, February 1 at 11:59 p.m. the Director, under REBBA 2002, issued a freeze order, freezing the bank accounts of Monster Realty Corporation o/a Brekland Realty Group. At the same time, the Registrar of the Real Estate Council of Ontario (RECO) issued an immediate suspension of registration and a proposal to revoke the registration of Brekland Realty Group.
The suspension means that all real estate salespersons and brokers who are employed with Brekland Realty Group are currently unable to trade in real estate. They will be able to apply to RECO to transfer to another brokerage. RECO has charged the corporation with failing to disburse trust funds in accordance with the terms of the trust. After RECO booked a routine inspection, it was revealed that a large sum of money was missing from the brokerage’s trust account.
An investigation continues and further charges are expected.
RECO is responsible for administering REBBA 2002 on behalf of the provincial government. In order to trade in real estate in Ontario, brokers and salespersons must be registered with RECO.
EMPLOYEES OF BREKLAND REALTY GROUP OR CO‐OPERATING BROKERAGES
Questions about commission claims:
Claims for commissions should be directed to the claims adjuster for RECO’s insurance program AND to the court appointed Claims and Distribution Officer, BDO Canada Limited. Please note that you MUST submit your commission claims to BDO Canada Limited by 5:00 p.m. on February 8, 2013 or your claim will be denied.
For information on how to submit a claim to BDO Canada Limited please click on this link:
For questions about the commission claims process please call Ken Pearl of BDO Canada Limited at 416‐369‐3063.
To submit your commission claim to the claims adjusters for RECO’s insurance program, please contact:
Granite Claims Solutions
Published by the Real Estate Council of Ontario
Toll Free: 1‐877‐740‐1913
Toll Free Fax: 1‐866‐735‐1033
The insurer requires one Notice of Claim Commission Protection form per trade. Claim forms are located on the insurer’s
Questions about consumer deposit claims, or other insurance‐related inquiries should be directed to RECO’s
Ruth Garrett, Insurance Administrator
Phone: (416) 207‐4872 or (416) 207 4841
Toll Free: 1‐800‐245‐6910
Fax: (416) 207‐9020