What is the primary function of the Real Estate Council of Ontario (RECO)?

The primary function of the Real Estate Council of Ontario (RECO) is to regulate real estate professionals in Ontario. This involves overseeing the conduct of real estate agents and brokers to ensure they comply with the laws and regulations governing the real estate industry in Ontario. RECO plays a critical role in protecting consumers by maintaining professional standards and ensuring that real estate professionals are adequately trained, licensed, and adhere to ethical practices.

This regulation includes the responsibility for licensing real estate professionals, enforcing compliance with the Real Estate and Business Brokers Act, and managing the industry’s Code of Ethics. By doing so, RECO promotes accountability and transparency within the real estate sector, which is essential for building consumer trust and confidence.

The other choices reflect activities that are not within RECO’s primary responsibilities. For instance, managing property tax assessments is generally the role of municipal governments or specific provincial agencies. Developing housing policies falls under the jurisdiction of government bodies focused on the broader housing strategy rather than a regulatory council. Facilitating real estate training programs, while related, is typically part of what real estate associations and educational institutions do, but it is not the primary regulatory function of RECO.