Registration (as of March 31, 2012)

RECO has 62,964 registrants, consisting of:

• 36,940 salespersons
• 11,112 brokers
• 3,411 brokerages
• 10,292 provisional salespersons
• 1,209 branch offices

Over the past five years, the number of registrants has increased by 22 per cent.

Complaints

The Registrar's Complaints and Inquiries Process (RCI) is designed for the flexible handling of all concerns regarding the conduct of registrants brought to the attention of the Registrar.

During fiscal 2011-2012, RECO streamlined the complaint handling process, which resulted in a 20 per cent decrease in the number of active complaint files. Through the new handling process and the introduction of a standardized complaint form, RECO has been able to further reduce active complaint files by 10 per cent this fiscal year.

During the fiscal year, 1,359 complaint files were opened and 1,327 complaint files were closed.
(These figures are not necessarily related to one another. Some of the files that were closed during the fiscal year may have been opened in the previous year.)

The five most common breaches of the Code of Ethics in 2011-2012 were:

• Unprofessional conduct
• Advertising
• Conscientious and competent service
• False information/documents
• Misrepresentation

The Registrar took administrative regulatory action in 719 cases.

The Registrar issued proposals to refuse or revoke 31 registrations. An additional 11 proposals were issued to revoke registration due to non-payment of insurance.

Investigations

RECO investigates alleged violations of REBBA 2002 and associated regulations. Matters referred to investigations, inspections or the Registrar may lead to other action such as charges under REBBA 2002 or a proposal to revoke registration.

During the 2011-2012 fiscal year:

• 89 investigations were opened and 115 investigations were closed
• RECO’s investigative work led to 135 individual charges and 22 prosecutions in the Ontario Court of Justice
• These prosecutions resulted in 29 convictions and fines totalling $203,750. Additionally, the courts imposed a total of $89,999.96 in restitution payments and ordered 15 months of jail time along with one probation sentence

Funding

• RECO is a not-for-profit corporation; Revenues are derived from registration fees, education fees and disciplinary fines.
• RECO does not receive funding or financial compensation from the government.
• RECO's complete financial statements can be found in RECO's Annual Report.

Sales Statistics

RECO does not collect, maintain or distribute sales figures or market data. Sales figures are maintained by the Canadian Real Estate Association (CREA). Provincial figures can be found online at CREA's website.

Other Sources of Information
Association of Real Estate License Law Officials
Canadian Mortgage and Housing Corporation
Canadian Real Estate Association
Ministry of Consumer Services
Ontario Real Estate Association