RECO Issues Public Advisory Regarding RE/MAX North Country Realty Inc.

TORONTO, Dec. 31, 2019 /CNW/ - On December 31, 2019, under the authority of the Real Estate Business Brokers Act, 2002 (REBBA) and in order to protect the public interest, the Registrar of the Real Estate Council of Ontario (RECO) issued an order to immediately suspend the registrations of:

RE/MAX North Country Realty Inc. 

Operating in the following locations:

• Huntsville (head office)
• Bala
• Bracebridge
• Burk's Falls
• Gravenhurst
• Haliburton
• Kilworthy
• Minden
• Port Loring
• Wilberforce

The order to suspend the registrations follows a Notice of Proposal to revoke the registrations of RE/MAX North Country Realty Inc.

All trading activities at RE/MAX North Country Realty Inc. and its registered branches must cease immediately.

RECO discovered a shortfall in RE/MAX North Country Realty Inc.'s statutory real estate trust account, where consumer deposits are to be held. Additional action may be taken and information will be made available through RECO's website.

Individuals who may be impacted by the Suspension Order are asked to use the contacts listed below:

Home buyers and sellers with questions about the suspension order, including whether a pending sale or purchase will be completed on time, should contact:

Shaun Chu-A-Kong
Phone: [phone]
Toll Free: 1-800-245-6910, ext. 4873
Email: [email protected]

Questions about consumer deposit claims, or other insurance-related inquiries, should be directed to RECO's Insurance Department:

Jeremy Meuris
Phone: [phone]
Toll Free: 1-800-245-6910, ext. 4875
Email: [email protected] 

Cooperating brokerages for trades in which RE/MAX North Country Realty Inc., holds the deposit and/or are owed commissions by RE/MAX North Country Realty Inc., should contact:

Jeremy Meuris
Phone: [phone]
Toll Free: 1-800-245-6910, ext. 4875
Email: [email protected] 

Employees of RE/MAX North Country Realty Inc., with questions about commissions should contact the claims adjuster for RECO's insurance program:

ClaimsPro LP
Toll Free: 1-877-740-1913
Toll Free Fax: [phone]
Email: [email protected] 

The insurer requires one Notice of Claim Commission Protection form per trade.  Claim forms are located on the insurer's website: www.reco-claims.ca 

Employees of RE/MAX North Country Realty Inc., with questions about the procedures for transferring a registration to a new brokerage should contact:

Shahin Rehmtulla
Phone: [phone]
Toll Free: 1-800-245-6910 ext. 4826
Email: [email protected]

The Real Estate Council of Ontario regulates real estate professionals in the province on behalf of the Ontario government by enforcing the Real Estate and Business Brokers Act, 2002 (REBBA). We protect the public interest through a fair, safe and informed marketplace. RECO holds registered brokers and salespersons to professional standards, protects the public interest, and enhances consumer confidence in the real estate profession. In addition, RECO strives to educate consumers to ensure they understand the benefits of a regulated real estate sector.

For more information, visit www.reco.on.ca.

SOURCE Real Estate Council of Ontario

For media enquiries, please contact: Jennifer McCrindle, Senior Communications Officer, Real Estate Council of Ontario, [phone], Email: [email protected]

Related Links

http://www.reco.on.ca