RECO issues Public Advisory regarding Sutton Group Central Realty Inc.

On December 29, 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:

Sutton Group Central Realty Inc., formerly of 60 Gillingham Drive, Suite 400 Brampton, ON
L6X 0Z9.

Freeze Orders are invoked by RECO against brokerages when required to prevent funds from being withdrawn from a brokerage’s accounts in order to protect consumer deposits.  Because Sutton Group Central Realty Inc. has no Broker of Record, RECO has taken steps to preserve the funds in the brokerage’s bank accounts. The matter is being investigated and additional action may be taken. Any new information will be made available on 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 Sutton Group Central Realty Inc., holds the deposit and/or are owed commissions by Sutton Group Central Realty 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 Sutton Group Central Realty 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

 


Facebook Twitter Addthis Google+ LinkedIn Email Print PDF Online
  • Look up a Real Estate Salesperson, Broker or Brokerage

  • MyWeb Login

  • Click here to view election results

  • Click here to visit our education blog