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News and Events
Terry Landon Elected Chair of the Real Estate Council of Ontario
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Terry Landon |
Mr. Terry Landon, Co-owner of Re/Max Cornwall Realty, has been elected Chair of the Board of Directors of the Real Estate Council of Ontario (RECO). The election took place following RECO’s Annual Meeting, held in Toronto on June 17, 2004.
“I am looking forward to continuing our efforts to see positive change in the real estate profession in Ontario”, said Mr. Landon. “Real estate is often the most important purchase decision by a family, and RECO ensures that consumers are provided fair and competent service from skilled and educated real estate professionals”.
Mr. Landon, who currently serves as the President of the Cornwall and Area Chamber of Commerce, previously served on the RECO Board as Vice-Chair, and Chaired the RECO Education Committee.
“The real estate profession in Ontario is one of the most progressive in the world in terms of continuing education and consumer protection”, noted Mr. Landon. “RECO is part of team of organizations that are pursing like-minded objectives to improve the industry, including the Ministry of Consumer and Business Services, the Ontario Real Estate Association (OREA), local real estate boards and members themselves.”
The Real Estate Council of Ontario administers the Real Estate and Business Brokers Act (REBBA) on behalf of the Ontario Ministry of Consumer and Business Services. RECO's mandate is twofold:
- To administer the regulatory requirements of the real estate industry as set down by the Government of Ontario
- To protect consumers and members through a fair and safe and informed marketplace.
In addition, RECO has adopted its own By-laws, which provide an interim solution to real estate act reform and allow RECO to deliver more effective governance of the profession. RECO’s responsibilities include resolving consumer and member complaints, overseeing a mandatory continuing education program, and working with other parties to develop new guidelines for the profession.
RECO is governed by a 12-member Board of Directors, which includes nine elected representatives from the profession and three Directors appointed by the Minister of Consumer and Business Services.
RECO operates on a not-for-profit basis, with any excess revenue invested into improvements in compliance, public information and accessibility, education and technology.
More information can be found on RECO's website at www.reco.on.ca
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