Ontario weighs taking control of real estate regulator

TORONTO — The Ontario government is considering taking control of the province’s real estate regulator after an audit into its handling of what it describes as iPro Realty’s “misappropriation” of funds.

The minister of public and business service delivery says in a statement that the review of the Real Estate Council of Ontario identifies significant issues with the regulator’s practices, processes and procedures.

Stephen Crawford says in a letter to RECO that given the severity of the concerns, he is considering appointing an administrator to assume control of the council and has given the board of directors two weeks to respond before he makes a final decision.

RECO says in a statement on its website that it is committed to working collaboratively with the minister to understand the proposed process, scope and next steps.

It says the audit found that RECO’s former registrar deviated from the regulator’s “typical approach when dealing with situations involving misappropriation of trust funds.”

RECO says it has already started implementing recommendations from the report.

This report by The Canadian Press was first published Nov. 14, 2025.

Allison Jones, The Canadian Press