Regulator says it will tap reserve funds to repay iPro realtors’ lost commissions
Realtors affected by the collapse of iPro Realty Ltd. will be fully repaid by the Real Estate Council of Ontario’s insurance program, but some specialists warn that the rest of the industry may ultimately foot the bill.
RECO, the provincial regulator for real estate agents, had previously only committed to paying 50 per cent of eligible claims related to the freezing of bank accounts and the closure of iPro, which had been one of Ontario’s largest real estate brokerages, with more than 2,400 realtors working for it.
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