TRREB Statement on CBC Marketplace Research Report on Mortgage Fraud, The Canadian Business Journal

TORONTO, Oct. 14, 2022 (GLOBE NEWSWIRE) — On behalf of the nearly 70,000 REALTOR® members of the Toronto Regional Real Estate Board (TRREB), we unequivocally condemn the actions highlighted at the CBC. market Mortgage Fraud Investigation Report.

Our profession has no place for those who act unethically. For too long, the reputation of her REALTORS®, many hardworking people who work tirelessly for their clients, has been tarnished by the actions of the few who have no place to call themselves her REALTOR®. I was.

As regulators, we have long called on the Ontario Real Estate Council (RECO) to address our concerns about unethical behavior. REALTORS® themselves advocate higher standards, but without measurable results. Now is the time for RECO to act. TRREB has a professional standards process that holds members accountable. Our regulators must do the same to be effective in their role as license issuers and professional regulators.

As part of its investigation, the RECO must also ensure that the brokerage firm is providing effective oversight where necessary. Real Estate and Business Broker Law – straight away Real Estate Services Act Trust. Record brokers are responsible for the conduct of REALTOR® members. RECO should assess the suitability of a records broker if pervasive fraud is evident within the organization.

TRREB is seeking release of the names of individuals identified by the CBC. market Investigation. In addition, CBC must provide RECO with all unmodified work products of the investigation. We also request that RECO initiate an investigation, take firm action, and revoke the realtor’s license if there is evidence of wrongdoing. This is a request from me, a REALTOR®, on behalf of REALTOR® members.

Kevin Kriger
President of TRREB

Media inquiries:
Genevieve Grant, manager, public relations [email protected] 416-443-8159

The Toronto Regional Real Estate Commission is Canada’s largest real estate commission, with more than 70,000 residential and commercial professionals connecting people, properties and communities.

Facebook | twitter | | YouTube | LinkedIn | Instagram
https://www.trrebwire.ca/

CBJ Newsmaker