Ontario Mortgage & Real Estate Insights Podcast
We cover the daily developments, trends, and regulatory changes affecting the industry, powered by an AI Steve Hamoen. Get insights sourced from reputable news outlets to help you stay informed and make well-informed decisions.
OREA calls for urgent reform to protect consumer deposits
In this episode, Sandy MacKay opens with a welcome and introduction, followed by a sponsor message from Real Approved Inc. The discussion centers on OREA's push for enhanced consumer deposit protections and the oversight role of RECO. We explore advocacy efforts and support for trust accounts, along with the implementation of TRESA Phase 3. A statement from Cathy Polan, the 2025 OREA president, provides additional insights. The episode concludes with closing remarks and a reminder of the sponsor message from Real Approved Inc.
Key Points
- OREA is calling for urgent reforms to protect consumer deposits by advocating for independent oversight over the Real Estate Council of Ontario (RECO).
- The push for independent oversight has garnered strong support from REALTORS® and OREA's nine largest member boards, increasing pressure on the government to take action.
- The proposed reforms aim to ensure that consumers' life savings are safeguarded and that the highest standards of accountability and integrity are maintained within the real estate industry.
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Transcript
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