The Cornerstone Association of REALTORS® (Cornerstone) has been steadfastly championing for consumers and REALTORS® impacted by RECO’s mismanagement of the iPro Realty scandal by calling for RECO and the Ontario Government to ensure all those affected are made whole.
RECO’s decision to not freeze the iPro Realty accounts and notify the industry for a period of three months exposed both consumers and registrants to unnecessary risk. Some members are owed tens of thousands of dollars and have now resorted to taking on debt to pay essential expenses like their utility bills, property taxes, and children’s tuition. Although they are proceeding through insurance, the process is long and does little to alleviate the immediate financial pressures that people are experiencing.
Recent comments by Premier Ford show that the Government of Ontario is listening. Cornerstone has consistently advocated for financial support for affected real estate agents and consumers. In a November 13 meeting with Minister Stephen Crawford, Cornerstone representatives emphasized the need for the government to take action and ease the financial burden that agents experienced from the iPro Realty matter, specifically recommending that RECO use its substantial reserves to compensate affected parties. Cornerstone also provided these recommendations in conversation with RECO Administrator Jean Lépine.
In his remarks at the Ontario Real Estate Association’s (OREA) Powerhouse Conference on December 1, 2025, Premier Ford told the audience that his biggest concern was ensuring that real estate agents who lost their commissions in the iPro Realty matter receive those funds back. Similarly, Minister Stephen Crawford, in a LinkedIn post on November 28, said that the appointment of a RECO Administrator was important to “restore confidence in the organization, to work with the insurer, and to support those financially impacted.”
In a recent letter sent to the Premier, Cornerstone thanked Premier Ford for his sentiments at the OREA conference and reinforced the need for timely action on our recommendations.
“We are encouraged by remarks from Premier Ford and Minister Crawford that acknowledge the financial hardship that consumers and REALTORS® have experienced because of RECO’s decision to remain silent,” said Bill Duce, Chief Executive Officer of Cornerstone. “We’ve been talking about the importance of relieving these financial burdens at every opportunity.”
“The situation has been a challenge for the sector, but we are confident that, under the leadership of Premier Ford, Minister Crawford, and RECO Administrator Jean Lépine, RECO will uphold the highest standards of transparency, integrity, and fairness, and that those impacted by the iPro Realty matter will receive the money they have rightfully earned.”
Cornerstone remains committed to working collaboratively with RECO and the Government of Ontario to support REALTORS® and brokerages affected by the iPro Realty matter and to restore public confidence in the sector.
About Cornerstone
Cornerstone Association of REALTORS® (Cornerstone) is a not-for-profit organization with over 325 years of collective service from its founding associations.
Established on July 1, 2024, Cornerstone leads with purpose, advocates boldly, and creates positive change for the success of our members throughout Mississauga, Burlington, Hamilton, Waterloo Region, Niagara North, Haldimand County, Norfolk County, and surrounding areas.
With approximately 8,000 members, Cornerstone is the second-largest REALTOR® association in Ontario, dedicated to promoting the greater good of the real estate community.
SOURCE: CORNERSTONE
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