Thousands of realtors across the province are calling for Ontario’s Ombudsman to investigate the industry’s watchdog. Back in May, the Real Estate Council of Ontario (RECO) looked into a multi-million-dollar shortfall from Mississauga-based iPro Realty. In August, they were forced to shutter their doors by RECO, and their funds were eventually frozen after the brokerage co-founders were accused of taking nearly $8 million from the company’s trust account. However, the company’s trust was still operational for 4 months, leading to this week’s open letter from nine of Ontario’s largest realtor associations. Mike Lewicki is the Vice-President of the Ottawa Real Estate Board, who is among the list of concerned realtor groups. He joins Andrew Pinsent on CFRA Live.
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