Nicole – Ottawa Real Estate Board

OREBArticles by: Nicole

Federal Budget a Step Forward, but Falls Short on Immediate Housing Affordability in Ottawa

Ottawa, ON — The Ottawa Real Estate Board (OREB) welcomes the housing investments in Canada Strong: Budget 2025, as several measures align with the Board’s ongoing calls for coordinated action to expand housing supply.

OREB acknowledges the federal government’s efforts to boost housing supply through Build Canada Homes, including a $1 billion investment for transitional and supportive housing for those experiencing homelessness, and a recommitment to invest $2.8 billion through the Urban, Rural, Northern and Indigenous Housing Strategy.

While these are important ‘generational investments’, the proposed federal budget falls short of addressing the immediate affordability challenges faced by Ottawa residents, and lacks concrete measures to help Canadians currently aspiring to achieve affordable homeownership. The Budget missed an opportunity to explicitly encourage the construction of more missing middle housing such as townhomes, duplexes, and low-rise apartments that are entry points for many first-time buyers.

The Budget does confirm several previously announced measures, including the elimination of the GST on new homes for first-time buyers. These are important steps that will help lower costs, facilitate greater movement through the market, and encourage construction.

“Ottawa families are struggling to find homes they can afford,” said Paul Czan, President of OREB. “Although we are pleased that the federal government is investing in housing, we were looking for a stronger focus on coordinated action between all levels of government to make the dream of home ownership a reality.” A recent survey conducted by Abacus Data for OREB underscores the urgency of this challenge.

82% of Ottawa residents are concerned about the city’s housing situation.
67% describe local housing as unaffordable.
71% of non-homeowners still hope to buy a home
50% doubt they’ll ever be able to afford one in their community of choice.

The survey also found that 62% of respondents are worried that should their financial situation suddenly change, they could lose their home or rental unit. A concern that could deepen following Tuesday’s announced cuts to the federal public service, which may have a marked effect on Ottawa and area’s housing market.

“These numbers paint a stark picture,” said Nicole Christy, CEO of OREB. “Ottawa residents want more affordable housing options, especially missing middle homes that seniors, families, and young people can afford. The federal government has taken a step in the right direction, but there’s still more work ahead.”

In a city where infrastructure costs drive up the price of every new home, OREB sees value in the federal government’s move to connect federal infrastructure funding to affordability reforms. Historically, much of this cost has been covered through development charges, which in Ottawa can add up to $63,000 to the price of a new low-rise home. The new Community Housing Infrastructure Fund provides municipalities with federal support for these critical infrastructure projects, creating an opportunity to reduce development charges, lower costs, and accelerate construction.

Furthermore, OREB supports the federal government’s decision to eliminate programs that added administrative burdens without meaningfully improving housing supply, such as the Underused Housing Tax.

“Ottawa can’t solve its housing crisis without lowering costs and cutting red tape. This Budget gives governments an opportunity to do both, but it’s time to seize that opportunity.” added Christy.

While Budget 2025 takes meaningful steps to support housing supply and infrastructure, Ottawa residents still face significant affordability challenges. We have a once-in-a-lifetime opportunity to lower costs, accelerate construction, and expand attainable options like missing middle housing.

OREB will continue to call for stronger coordination between all levels of government to ensure federal investments align with provincial and municipal housing investments and reforms, opening more doors to attainable housing and home ownership in Ottawa.

Statement from the Ottawa Real Estate Board on Ontario’s New HST Rebate for First-Time Home Buyers

Ottawa, ON – The Ottawa Real Estate Board (OREB) recognizes the Ontario government’s announcement that it is proposing a rebate of the full 8 per cent provincial part of the HST on qualifying new homes for first-time buyers. This tax-relief when implemented, will help make homeownership more attainable for many Ontarians.

OREB and our provincial partner, the Ontario Real Estate Association (OREA), have long advocated for policies that support affordable homeownership, including targeted tax relief for first-time buyers. Today’s announcement reflects progress on an issue REALTORS® across Ontario have championed making it easier for young families and first-time buyers to enter the housing market.

The introduction of this rebate is a critical step in the right direction. The rebate, which applies to homes valued up to $1 million, will lower costs for first-time buyers and will encourage new home construction.

We acknowledge the efforts of Premier Doug Ford, Minister of Finance Peter Bethlenfalvy, and Minister of Municipal Affairs and Housing Rob Flack for their commitment to improving housing affordability in Ontario.  This bold step will provide much-needed relief to first-time homebuyers and will help them achieve the dream of homeownership.

Going forward, OREB urges the province to continue its work to tackle the systemic challenges affecting Ontario’s housing market – including strengthening adjudicator capacity and case backlogs at the Landlord Tenant Board (LTB). These actions, combined with the proposed HST rebate, will help create a more balanced housing ecosystem where Ontarians can find the right home for every stage of life.

OREB is committed to working with all elected officials to advance solutions that lower barriers and make affordable housing accessible to all Ontarians.

Nicole Christy
Chief Executive Officer
OREB

Ottawa Real Estate Board Welcomes Ontario’s Fighting Delays, Building Faster Act, 2025

The Ottawa Real Estate Board (OREB) welcomes the Ontario government’s Fighting Delays, Building Faster Act, 2025, which proposes to improve efficiency, shorten case timelines, reduce procedural delays, and improve fairness and efficiency at the Landlord and Tenant Board (LTB).

Ottawa continues to face mounting affordability pressures and growing demand for housing. As an association representing landlords and tenants, OREB encourages the province to balance changes to Ontario’s tenancy lease framework regarding month-to-month leases alongside maintaining strong protections for both parties, while also addressing the patchwork of renoviction by-laws in municipalities across the province that are hurting small landlords.

OREB believes that the province can succeed by working with municipalities to empower renters with education and information about their existing rights under the Residential Tenancies Act. Furthermore, we would like to see the province commit to publishing additional data on the use of N13 applications by landlords to end a tenancy. OREB members work with tenants and landlords in Ottawa every day, and our members are ready to play their part in better protecting existing tenant rights.

As a long-time advocate for housing policy that boosts housing supply and improves affordability, OREB looks forward to working with the province and the City of Ottawa to ensure these reforms translate into real results for homebuyers, renters, and REALTORS® across our region.

Nicole Christy
Chief Executive Officer
CEO

Abacus Survey: OREB reveals widespread concern about housing affordability in Ottawa

OTTAWA, ON — A new survey conducted by Abacus Data for the Ottawa Real Estate Board (OREB) reveals widespread concern about housing affordability and supply in the nation’s capital. Nearly two-thirds of residents (62%) say they are concerned about losing their home or rental unit if their financial situation were to suddenly change, while four in five (82%) are concerned about the overall state of housing in Ottawa today.

The survey, which polled 1,000 Ottawa residents in September 2025, paints a picture of a city struggling with the rising cost of living, a lack of affordable housing options, and a strong desire to see governments make the dream of home ownership in Ottawa a reality.

“When six in ten residents worry about losing their home if their financial situation changes, it’s a clear sign that we must do more to improve housing affordability and choice,” said Paul Czan, 2025 President of OREB. “We must make it easier to build more homes that families need and can afford.”

When asked which issues they most want elected officials to focus on, respondents identified cost of living (47%), housing affordability (44%), and homelessness (29%) as the most important priorities. Two-thirds of residents (67%) describe housing in their area as unaffordable, yet 71% of non-homeowners still hope to buy a home someday. While the dream of home ownership is strong among Ottawa residents, half of all respondents doubt they’ll ever be able to afford a home in their community of choice.

“Ottawa residents are telling us that what they need are more affordable housing options—especially missing middle housing like duplexes, triplexes, townhouses, and small apartment buildings that seniors, families and young people can afford,” said Nicole Christy, CEO of OREB. “The good news is that there’s broad public support for action on things like lowering development costs, modernizing zoning and reducing red tape.”

Residents see clear causes behind the affordability crunch, with most pointing to a lack of affordable housing for low and middle-income families (54%) and the high cost of construction (43%), including materials and labour—underscoring that Ottawa’s affordability challenge is contributing to limited housing supply.

Elected leaders at all three levels of government get poor marks from respondents on improving Ottawa’s housing situation. Three in five residents (59%) say they are dissatisfied with the leadership shown by the federal, provincial, and municipal governments alike on housing issues. Only 36% of respondents believe the City of Ottawa is making housing affordability a high or very high priority.

As a leading advocate for more attainable housing in the City of Ottawa, OREB is meeting this week with City Councillors to advance policy solutions that will help get more affordable homes built faster in the city. Specifically, OREB has a three-point policy plan that is asking the City to:

Reform Development Charges to Lower Costs: OREB is calling on City Council to reduce and reform development charges that are driving up the cost of new homes and rentals. Ottawa’s fees have increased four times in the past year, adding as much as $63,000 to a new low-rise home.
“Ottawa can’t build its way out of the housing crisis if every new home buyer must pay tens of thousands of dollars in government fees,” said Czan. “Development charges are adding up to $63,000 to the cost of a single unit which is leading to fewer homes and higher prices. Council has the tools to fix that.”
Pass a Bold Zoning By-Law That Enables More Housing Choices: OREB supports a new citywide zoning by-law that permits up to four residential units on serviced lots, removes outdated parking minimums, and speeds up approvals. Public opinion is firmly behind this approach with 80% supporting the creation of more affordable homes across Ottawa.
“This is about unlocking opportunity,” said Christy. “By legalizing more housing types in every neighbourhood, Ottawa can make meaningful progress toward affordability, inclusion, and the kind of city our residents are asking for.”
Protect Tenants While Expanding Rental Supply: OREB believes Ottawa can protect tenants and increase rental choices without adding unnecessary red tape through a new rental renovation licensing by-law. The public agrees, with 80% of residents saying they support fixing the Landlord and Tenant Board, 79% supporting tougher action against bad landlords, and 68% supporting expanding rental housing through incentives.
“Ottawa renters need protection, not more paperwork,” said Czan. “Most residents support fixing the Landlord and Tenant Board and cracking down on bad landlords, but they don’t want new red tape that drives small landlords out of the market.”

About the Survey

The Ottawa Real Estate Board–Abacus Data State of Housing Survey was conducted from September 18 to 30, 2025, among 1,000 residents of the City of Ottawa. Results are accurate within ±2.77%, 19 times out of 20.

About the Ottawa Real Estate Board (OREB)

The Ottawa Real Estate Board (OREB) is a non-profit association representing more than 4,000 member REALTORS® in the National Capital Region. OREB advocates for policies that promote housing affordability, protect consumers, and support a fair and efficient real estate marketplace.

For media inquiries, please contact:

Dave Holmes, Manager, Marketing and Communications
613-225-2240 ext. 232 | dave@oreb.ca

Inventory Builds but Demand Remains Resilient Heading into Fall

OTTAWA, ON — Ottawa’s housing market in September demonstrated a continuation of late-summer seasonal trends, with sales activity easing slightly while inventory levels continued to climb. A total of 1,089 homes sold in September, down from 1,236 in August and 1,318 in July. This three-month trend of softer sales is not unusual as the spring peak transitions into the quieter summer months.

On the price side, the average sale price of $690,397 in September fell between August’s $686,536 and July’s $695,209, remaining up 0.3% year-over-year. Benchmark prices have remained relatively stable throughout this adjustment period, indicating that demand is holding steady even as buyers gain more choice.

Active listings rose to 4,388 in September, following 3,971 in August and 4,205 in July. These elevated inventory levels are a departure from undersupplied pandemic-era levels and align more with longer-run balanced conditions, though at elevated levels, which continues to be a trend worth monitoring. Continued steady demand helps to explain why prices have stayed relatively flat even as inventory builds. Months of inventory edged up to 4.0, compared to 3.2 in August and 3.2 in July, reinforcing this balance between buyers and sellers.

On September 17, the Bank of Canada cut its key policy interest rate by 25 basis points to 2.5%, citing slowing global growth and easing inflation pressures. This policy shift, combined with Ottawa’s resilient demand and balanced market conditions, could encourage more first-time buyers and bring additional activity to the market in the months ahead.

“September reinforced Ottawa’s resilience, with sales nearly 2.4% higher than last year, and prices are holding steady despite more listings coming to market,” said Paul Czan, OREB President. “When you peel back the layers, you see that townhomes are driving stability while single-family homes are easing. And while Ottawa’s diversity of housing continues to increase inventory, missing middle housing—like townhomes—still aren’t being built fast enough, and that’s something OREB continues to advocate for.”

Residential Market Activity

Looking at the bigger picture, there have been 11,025 home sales so far this year, which is 3.9% higher than at this time in 2024.

The average sale price for all sold listings in September was $690,397 up 0.3 % from last year.

This year, the average year-to-date price is $699,910, a 2.7% increase over the first nine months of 2024. 

Altogether, the total value of homes sold in September was approximately $751 million, up 2.8% year-over-year, with the housing sector continuing to be one of the major drivers of the overall Ottawa economy. 

On the listing side, there were 2,832 new residential listings added in September, a notable 19.3% increase compared to last year, and 4,388 active listings on the market, up 19.4% from September 2024, and roughly 21.8% above the five-year average for this time of year.

Finally, the months of inventory, a measure of supply, sits at 4.0 months, which is up from 3.2 months of inventory in August. Having 4.0 months of inventory is typically understood to be an indicator of what is considered a balanced market.

MLS® Home Price Index

As for prices, the MLS® Home Price Index (HPI) composite benchmark price in Ottawa was $627,200 in September, a nearly flat 1.1% increase year-over-year. 

If we break that benchmark price down by property type:  

Single-family homes came in at $697,200, up 1.0%.

Townhouses saw the biggest jump — up 7.8% to $462,800.

Apartments, on the other hand, dipped again, — down 1.7% to $408,200.

For media inquiries, please contact:

Dave Holmes, Manager, Marketing and Communications

613-225-2240 ext. 232 | dave@oreb.ca

Ottawa Real Estate Board Commends City’s Housing Innovation Task Force Report and Housing Acceleration Plan

OTTAWA, ON – The Ottawa Real Estate Board (OREB) commends the City of Ottawa for the Housing Innovation Task Force Report and the Housing Acceleration Plan that squarely targets the core municipal levers needed to get more homes built. With 53 actions organized across five objectives—simplifying the regulatory environment and expediting the approvals process, evolving City culture to be housing development friendly, introducing more flexibility in fees and charges, consolidating and strengthening capacity for affordable housing development, unlocking urban intensification and transit-oriented development—the plan aims to accelerate all forms of housing, with particular emphasis on affordable and urban options.

It recognizes that success requires strong partnerships with federal and provincial governments and an industry ready to respond. This direction closely aligns with what OREB has advocated publicly. We have urged governments to reduce bureaucratic barriers, streamline development approvals, and invest in enabling infrastructure. All measures we believe are critical to restoring supply and affordability in Ottawa. The Housing Acceleration Plan’s commitment to simplifying the regulatory environment and expediting approvals reflects those priorities.

OREB has also called for flexibility in the cost structure of building homes. The plan answers that call by taking several actions to reduce fees and review the development charge structure. It is imperative that we lower total developmental costs or tax burdens that impede construction so viable projects can proceed at the pace Ottawa needs.

On growth and gentle density, OREB has pressed for policies that end exclusionary zoning and enable as-of-right, context-sensitive intensification, particularly near high-quality transit. Key elements of our recommendations are addressed in the final draft of the new zoning by-law. Likewise, the plan’s objective to unlock urban intensification and transit-oriented development moves in that same direction and responds to our proposal to remove barriers to smart, sustainable infill.

OREB further supports the plan’s focus on consolidating and strengthening affordable housing capacity, which complements our advocacy to expand supply across the continuum so more families, first-time home buyers, renters, newcomers, and businesses alike can access homes and commercial spaces in our city.

A well-structured plan provides direction, but without collaboration it risks falling short. The true determinant of success lies in how effectively people work together. OREB reiterates the need for all orders of government to coordinate policy and funding, so the plan’s actions translate into shovels in the ground and keys in doors.

We will continue working with federal and provincial partners on complementary priorities outside municipal control. Specifically, federal programs that seek to double housing construction and restore affordability, skilled trades training that builds the workforce needed for housing delivery, and Landlord and Tenant Board (LTB) reforms to clear rental backlogs so the City’s efforts are matched by system-wide capacity.

OREB stands ready to partner with the City on advancing housing solutions, bringing together market intelligence, on-the-ground experience, policy insights, community engagement, industry networks, and implementation expertise to ensure this plan successfully translates policy into new, attainable homes for Ottawa and area residents more quickly.

For media inquiries, please contact:

Dave Holmes, Manager, Marketing and Communications
613-225-2240 ext. 232 | dave@oreb.ca

Seasonal Inventory Growth Meets Steady Demand 

OTTAWA, ON – Ottawa’s housing market in August 2025 offered buyers greater choice amid subtle signs of shifting dynamics. Last month, demand remained healthy, while supply continued to increase. Active listings climbed to 3,971, approximately 37% above the five-year August average.

This increase in inventory, while worth monitoring, is not currently a cause for concern. Ottawa’s real estate market follows well-established seasonal cycles, with late summer typically bringing a build-up of available listings ahead of the busy fall market. Both the sales-to-new-listings ratio of 58.3% and 3.2 months of inventory indicate that demand is keeping pace with supply, maintaining balanced market conditions.

It’s also important to recognize that 2020 and 2021 were historic outliers, with unusually low active listing levels that distort the five-year average. Excluding those years and instead referencing the pre-pandemic 2018 and 2019 figures, August 2025 inventory sit roughly 33–34% above the revised five-year trend — a more accurate measure of current market standing relative to historical norms.

Property-type trends continue to diverge. Single-family home HPI benchmarks remain broadly steady, and townhouse values are showing gains, while the condominium segment, particularly in the downtown core, remains comparatively soft. These variations present differing market opportunities depending on location, property type, and price point.

For buyers, the current combination of elevated inventory and steady demand presents a strategic window: more choice and greater negotiating power are available for those in a position to act on it. Meanwhile, broader provincial trends — such as slowing sales and rising supply elsewhere in Ontario — remain factors to watch. There are emerging signs of a potential turnaround in these markets, that could support improved conditions in the months ahead.

OREB will continue to monitor these developments closely to ensure Members and consumers remain informed as Ottawa’s market evolves.

“August was an active month for Ottawa’s housing market, with overall prices trending upward and sales activity stronger than in recent years as the summer season winds down,” said Tami Eades, OREB President-Elect. “While we continue to see different price movements across segments, the broader picture points to renewed momentum in the Ottawa Region as buyers and sellers alike re-engage ahead of the fall market. Ottawa’s market reflects balanced conditions, though we are mindful of broader economic factors—such as federal employment trends and U.S. trade policies—that could affect our market in the months ahead.”

Residential Market Activity

In August 2025, a total of 1,236 homes were sold across the Ottawa Real Estate Board (OREB) region. While down from 1,318 units in July 2025 and 1,602 in June 2025, this represents a 12.1% increase compared to August last year. Two consecutive months of slower sales is consistent with the spring to summer market seasonality, particularly as we are already approaching what is typically a more active fall market.

Looking at the bigger picture, there have been 9,936 home sales so far this year, which is 4.1% higher than at this time in 2024. 

The average sale price for all sold listings in August was $686,536, up 3.6% from last year. 

This year, the average year-to-date price is $700,828, a 3% increase over the first eight months of 2024. 

Altogether, the total value of homes sold in August reached approximately $850 million, up 16% year-over-year, with the housing sector continuing to be one of the major drivers of the overall Ottawa economy. 

On the listing side, there were 2,121 new residential listings added in August, a significant 8.6% increase compared to last year, and 3,971 active listings on the market, up 13.3% from August 2024, and 37.1% above the five-year average for this time of year. 

Finally, the months of inventory—a measure of supply— sits at 3.2 months, which is unchanged from last month and identical to last August’s metric as well. 3.2 months of inventory is typically understood to be an indicator of what is considered a balanced market.  Another indication that despite Ottawa’s high active listing count that demand is currently keeping pace with supply.

MLS® Home Price Index

As for prices, the MLS® Home Price Index (HPI) composite benchmark price in Ottawa was $633,000 in August, a modest 1.5% increase year-over-year. 

If we break that benchmark price down by property type:  

Single-family homes came in at $700,100, up 1.5%.

Townhouses saw the biggest jump — up 8.3% to $466,200.

Apartments, on the other hand, dipped slightly, — down 1.1% to $412,300.

For media inquiries, please contact:

Dave Holmes, Manager, Marketing and Communications

613-225-2240 ext. 232 | dave@oreb.ca

Statement from Ontario’s Nine Largest REALTOR® Associations on Letter to Minister Crawford Regarding RECO and iPro Realty

September 5, 2025 – RECO update on iPro insurance process: Consumer deposit claims are starting to be paid at closing. Agents are urged to file claims through ClaimsPro, as iPro accounts are frozen. For information and latest updates on iPro – Click Here.

September 3, 2025 I OTTAWA, ON – Today, Ontario’s nine largest REALTOR® associations, representing more than 95,000 of the nearly 100,000 REALTORS® across the province, sent a joint letter to the Minister of Public and Business Service Delivery and Procurement, the Honourable Stephen Crawford, in support of his government’s firm stance on the Real Estate Council of Ontario’s (RECO) operations and handling of the iPro Realty matter.

Read a copy of our joint letter here.

In our letter, we urged the government to make RECO subject to independent oversight by the Ontario Ombudsman, noting that the iPro case is part of a troubling pattern which has highlighted the need for enhanced transparency and accountability at Ontario’s real estate regulator to improve public confidence and ensure professional integrity. We also endorsed the Minister’s commitment to intervene directly should RECO fail to fulfill its core mandate and expressed our willingness to work with the government on further reforms to strengthen accountability, transparency, and consumer protection in Ontario’s real estate market.

As Ontario’s largest REALTOR® associations, we are committed to protecting the public’s confidence in real estate and promoting the highest professional standards in North America.

Paul Czan President Ottawa Real Estate Board	Christine Riley President Central Lakes Association of REALTORS®
Julie Sergi Chair Cornerstone Association of REALTORS®	Dale Marsh President London & St. Thomas Association of REALTORS®
Lisa Taylor Chair Niagara Association of REALTORS®	Ken Mazurek President Oakville, Milton & District Real Estate Board
Bonnie Looby President OnePoint Association of REALTORS®	Elechia Barry-Sproule President Toronto Regional Real Estate Board
Julianna Biondo President Windsor-Essex County Association of REALTORS®

Media Inquiries:

Ottawa Real Estate Board — communications@oreb.ca
Central Lakes Association of REALTORS® — communications@clar-mls.ca
Cornerstone Association of REALTORS® — communications@cornerstone.inc
London & St. Thomas Association of REALTORS® — chad@lstar.ca
Niagara Association of REALTORS® — Sarah@niagararealtor.ca
Oakville, Milton & District Real Estate Board — john@omdreb.ca
OnePoint Association of REALTORS® — communications@onepointar.ca
Toronto Regional Real Estate Board — media@trreb.ca
Windsor-Essex County Association of REALTORS® — juliannabiondo@gmail.com

Statement from OREB, CLAR, Cornerstone, OnePoint, and TRREB on Ford Government Review of RECO

OTTAWA, ON – Ontario’s five largest REALTOR® associations, representing more than 90 per cent of the nearly 100,000 REALTORS® in the province, support the Ford government’s decision to intervene in the review of the Real Estate Council of Ontario (RECO) following the iPro Realty Ltd. investigation.

Our associations welcome a full review of RECO’s governance and practices. This process must deliver meaningful reforms, including Ombudsperson oversight, stronger accountability measures, and enhanced enforcement tools to safeguard consumer deposits and restore public confidence.

Recent events, including the iPro Realty investigation, have highlighted the need for enhanced transparency and accountability at Ontario’s real estate regulator. The handling of trust account breaches by iPro Realty is a serious matter that speaks directly to consumer confidence and professional integrity.

The iPro Realty investigation undermines RECO’s consumer protection mandate and damages the reputation of thousands of hardworking REALTORS® who conduct their business honestly. Ontario would not be alone if the government also follows our advice to bring RECO under the oversight of Ombudsman Ontario. Real estate regulators in British Columbia and Québec already fall under the jurisdiction of their respective provincial Ombudspersons. Even the Financial Services Regulatory Authority of Ontario is subject to Ombudsman oversight. This recommendation reflects our associations’ commitment to protecting consumers, enhancing professionalism, and supporting continuous improvements within Ontario’s real estate regulatory system.

We are committed to working with the government to ensure that this review results in a transparent, accountable, and effective regulator who will protect consumers and support the integrity of the real estate profession.

Paul Czan
President
Ottawa Real Estate Board

Christine Riley
President
Central Lakes Association of REALTORS®

Julie Sergi
Chair
Cornerstone Association of REALTORS®

Bonnie Looby
President
OnePoint Association of REALTORS®

Elechia Barry-Sproule
President
Toronto Regional Real Estate Board

Media Inquiries:
For media inquiries, please email:

Toronto Regional Real Estate Board at
media@trreb.ca

Cornerstone Association of REALTORS® at
communications@cornerstone.inc

Ottawa Real Estate Board at
communications@oreb.ca

OnePoint Association of REALTORS® at
communications@onepointar.ca 

Central Lakes Association of REALTORS® at
communications@clar-mls.ca

OREB Statement on RECO and the iPro Realty Case

Read our latest public statement on RECO and the iPro Realty Case here.

OTTAWA, ON – For most Ontarians, the purchase of a home is the single largest financial investment of their lives. For that reason, consumers expect that the institutions regulating real estate uphold the highest levels of professionalism and accountability. When the public trust is breached, especially in a significant way, the consequences should be swift, significant and public.

The situation involving iPro Realty and the mishandling of trust account money is deeply concerning to OREB and its 4,000 members. Equally troubling is RECO’s decision not to pursue disciplinary or administrative action in response. Brokerages are entrusted with consumers’ deposits and other funds, often representing people’s life savings. Mismanagement of these accounts is one of the most serious violations under the Trust in Real Estate Services Act and the Code of Ethics.

While there are no iPro Realty offices or agents within OREB’s jurisdiction, OREB members and their clients may still be impacted if they are involved in transactions with iPro Realty.

As Ontario’s regulator, RECO bears a responsibility not only to enforce the rules, but also to provide transparency and accountability when those rules are broken. OREB calls RECO to explain why stronger action was not taken in this case and to demonstrate that decisive steps will be taken to prevent such breaches in the future. We also stand ready to work with RECO to reinforce safeguards that protect consumers and maintain confidence in the real estate profession.

Nicole Christy
Chief Executive Officer
Ottawa Real Estate Board