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Home News RECO issues public advisory regarding Luxury Homes World Inc. Brokerage

November 10, 2026

RECO issues public advisory regarding Luxury Homes World Inc. Brokerage

The Real Estate Council of Ontario (RECO) has issued a Freeze Order on the bank accounts of Luxury Homes World Inc., located at 700-305 Milner Avenue, Scarborough, Ontario, to safeguard consumer funds held in trust.   

By freezing all accounts associated with the brokerage, including its real estate trust account, RECO has taken immediate steps to secure remaining funds and prevent further unauthorized movement.  

This regulatory action follows multiple complaints involving approximately $500,000 in submitted deposits on transactions that failed to complete. RECO is actively engaged in this matter, and further regulatory actions may follow.  

This action does not stem from a submission in response to RECO’s new annual financial filings program.  

Resources for those affected

  • For buyers with a submitted deposit: If you paid a deposit to Luxury Homes World Inc., speak with your own agent and contact RECO using the information below.   
  • 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.  

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, 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 Luxury Homes World Inc. Brokerage, 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 Luxury Homes World Inc., 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.