RECA releases information to the media and the public when we have announcements, issue a consumer alert, suspend a licensee, or when licensees take a lifetime withdrawal. Media should contact communications@reca.ca for more information.
RECA’s consumer protection mandate means RECA must use every means at its disposal to communicate important information to consumers. Browse the 2017 news releases below or select another year from the archives menu:
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Calgary, Alberta – On November 24, 2017, a Real Estate Council of Alberta (RECA) Hearing Panel suspended Judy Nelson’s real estate licence for three months; ordered her and her former brokerage Willow Creek Realty Ltd. to jointly pay fines totaling $23,000; and, ordered Ms. Nelson to pay costs of $500 and complete an educational requirement.
The Hearing Panel found:
The Hearing Panel ordered that Ms. Nelson’s suspension is to begin on December 15, 2017.
To review the Hearing Panel order in its entirety, please click here.
The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for governing real estate, mortgage broker, property management, and real estate appraisal industry professionals under Alberta’s Real Estate Act. RECA’s mandate is to protect consumers and to provide services that enhance and improve the industry and the business of industry professionals.
Calgary, Alberta –The Real Estate Council of Alberta (RECA) is pleased to welcome Ms. Amina Deiab to Council as the public member appointed by the Minister of Service Alberta, Ms. Stephanie McLean.
Amina brings to Council more than 10 years of experience in business development and sales across a number of sectors, and five years of policy, regulation, and governance experience. Over the last few years, Amina has worked on key energy policy issues with the Government of Alberta, and is currently the Senior Director Economic Policy in Economic Development and Trade.
She holds a Master’s Degree in Public Policy and Public Administration, specializing in Innovation, Science, and Energy Policy from Carleton University.
“We are incredibly pleased to have Amina join us at the Council table,” says Brian Klingspon, Council Chair. “In an era of increasing scrutiny on professional regulatory bodies, it is even more important to have strong public member voices at the table.”
Amina is one of two public members on the Real Estate Council of Alberta. Council members appointed the other public member, Ms. Krista Bolton, in 2012.
Amina is passionate about board governance and as a volunteer Board Governance Instructor, spends her spare time working with Alberta’s not-for-profit boards to teach governance principles, and to help boards develop good governance practices.
“Council’s current 2016-2020 Strategic Business Plan has a strong emphasis on aligning Council’s governance practices with planned strategies and actions,” adds Klingspon. “We are confident having Amina join Council will allow us to continue enhancing our governance practices, which can and will strengthen self-regulation and consumer protection within Alberta’s real estate industry.”
The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for governing real estate, mortgage broker, property management, and real estate appraisal industry professionals under Alberta’s Real Estate Act. RECA’s mandate is to protect consumers and to provide services that enhance and improve the industry and the business of industry professionals.
Calgary, Alberta – It’s the biggest purchase most consumers will ever make – a home. And, you need to make sure you’re financially ready. The Real Estate Council of Alberta (RECA) can help.
November is Financial Literacy Month, and RECA is committed to helping Albertans think beyond the purchase price to make sure they’re prepared for and understand the financial realities of home ownership.
“When browsing for homes online, people often see the listing price and think that’s the only cost,” says Brian Klingspon, Chair of the Real Estate Council of Alberta. “But there are many more costs than that, and Albertans need to be aware and prepared for them before seriously shopping for a new home.”
As the authority for a positive real estate experience, RECA has information and resources to help Albertans learn the financial ins-and-outs of their home purchase, from figuring out if they’re ready to buy, to obtaining a mortgage, planning for closing costs, and the ongoing financial responsibilities of home ownership.
“A home purchase is one of the biggest purchases a consumer will ever make, and spending hundreds of thousands of dollars isn’t something to take lightly,” adds Klingspon. “It’s important for consumers to have access to independent, reliable information to make a sound financial decision.”
Go to www.reca.ca/FinancialLiteracy to access RECA’s collection of financial literacy resources. RECA will add more throughout Financial Literacy Month; stay tuned and follow along on Twitter with #FLM2017.
The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for governing real estate, mortgage broker, property management, and real estate appraisal industry professionals under Alberta’s Real Estate Act. RECA’s mandate is to protect consumers and to provide services that enhance and improve the industry and the business of industry professionals.
Calgary, Alberta –The Real Estate Council of Alberta (RECA) is pleased to announce the selection of Brian Klingspon as Chair of Council and Bonny Clarke as Chair-Elect.
Mr. Klingspon has been a member of Council since November 2013, and serves as an appointee of the Alberta Real Estate Association (AREA) from the REALTORS® Association of Edmonton. He has been in the real estate business for more than 25 years, serving as an associate broker in Edmonton, and working as the vice-president of regional development for a large real estate franchisor. Brian has experience on numerous RECA advisory committees, including as past Chair of the Audit and Finance Committee, the Hearings Committee, and the Consumer Advisory Committee.
Ms. Clarke came on board as a Council member on November 1, 2015. Council members appointed Bonny to Council from industry members who are not members of the Alberta Real Estate Association. Bonny has spent majority of her career in the broker-lending channel, and she is an active participant in the Alberta Mortgage Brokers Association, and Mortgage Professionals Canada. Bonny is also a past instructor of the Mortgage Broker 1000 course. As a Council member, she has served on Council’s Governance Committee, and in 2016-2017, she served as Vice Chair of both the Legislative Review Committee and the Residential Real Estate Advisory Committee.
Mr. Klingspon and Ms. Clarke will serve in these positions for a one-year term, ending on October 31, 2018. application to withdraw, and this results in a voluntary lifetime prohibition from industry membership; conduct proceedings are now discontinued.
The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for governing real estate, mortgage broker, property management, and real estate appraisal industry professionals under Alberta’s Real Estate Act. RECA’s mandate is to protect consumers and to provide services that enhance and improve the industry and the business of industry professionals.
Calgary, Alberta – On October 18, 2017, Jared Colby Jenkins, previously a mortgage associate in Calgary, applied to permanently withdraw from industry membership.
At the time of his application, Mr. Jenkins was the subject of conduct proceedings under the Real Estate Act. The issues under investigation pertained to allegations that Mr. Jenkins was involved in a mortgage fraud scheme; Mr. Jenkins did not respond to RECA’s requests for information as part of the investigation process.
The matter was referred to a Hearing Panel where it was alleged that Mr. Jenkins breached the Real Estate Act by failing to cooperate with a RECA investigation. Prior to the scheduled Hearing, Mr. Jenkins applied to RECA for a lifetime withdrawal from the industry.
The Real Estate Council of Alberta approved Mr. Jenkins’ application to withdraw, and this results in a voluntary lifetime prohibition from industry membership; conduct proceedings are now discontinued. At the time of Mr. Jenkins’ withdrawal from industry, there had been no disciplinary hearing, admissions, or findings of fact.
The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for governing real estate, mortgage broker, property management, and real estate appraisal industry professionals under Alberta’s Real Estate Act. RECA’s mandate is to protect consumers and to provide services that enhance and improve the industry and the business of industry professionals.
Calgary, Alberta – On October 18, 2017, Ruth Chan Ng, previously a real estate associate broker in Calgary, applied to permanently withdraw from industry membership.
At the time of her application, Ms. Ng was the subject of conduct proceedings under the Real Estate Act. The issues under investigation were whether Ms. Ng failed to:
The Real Estate Council of Alberta approved Ms. Ng’s application to withdraw, and this results in a voluntary lifetime prohibition from industry membership; conduct proceedings are now discontinued.
The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for governing real estate, mortgage broker, property management, and real estate appraisal industry professionals under Alberta’s Real Estate Act. RECA’s mandate is to protect consumers and to provide services that enhance and improve the industry and the business of industry professionals.
Calgary, Alberta – On October 17, 2017, the Real Estate Council of Alberta (RECA) suspended the real estate licence of Rajandar Prasad. RECA suspended Mr. Prasad for failing to comply with a Hearing Panel order from a March, 20, 2017 Hearing Panel Decision.
As a result of this suspension, Rajandar Prasad may not trade in real estate in Alberta.
Mr. Prasad was most recently registered as a real estate associate with Sterling Real Estate in Edmonton.
The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for governing real estate brokerage, mortgage brokerage, property management and real estate appraisal professionals under the Real Estate Act of Alberta. RECA is mandated to protect consumers and to provide services that enhance and improve the industry and the business of industry professionals.
Calgary, Alberta – The Real Estate Council of Alberta (RECA) has published easy-to-read, comprehensive Industry Professional Standards of Conduct, so consumers have a better understanding of the standards of conduct that real estate professionals, mortgage brokers, property managers, and real estate appraisers must follow.
“We believe knowledgeable consumers are protected consumers, and understanding the standards to which professionals adhere improves the level of trust that consumers have when working with a licensee and improves the working relationship overall,” says RECA Chair Christine Zwozdesky. “Our work as the industry regulator, in the public interest, includes making sure consumers have access to information that will help them confidently work with our industry professionals.”
The Industry Professional Standards of Conduct are part of RECA’s ongoing commitment to openness and transparency. They are a plain-language summary of the existing conduct standards found within the Real Estate Act Rules, which RECA administers on behalf of the provincial government. These standards outline what RECA expects – and in fact, requires – of its industry professionals.
“Legislation can be difficult to understand for non-lawyers,” adds Zwozdesky. “By giving plain-language summaries of the Real Estate Act Rules, we are making them more accessible to the public, and easier for everyone to understand.”
Extensive plain-language information for consumers on working with licensed real estate professionals is found on RECA’s website at www.reca.ca. Consumers can also read comprehensive guides to the Home Buying and Home Selling process at www.homebuyersguidealberta.ca and www.homesellersguidealberta.ca.
The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for governing real estate, mortgage broker, property management, and real estate appraisal industry professionals under Alberta’s Real Estate Act. RECA’s mandate is to protect consumers and to provide services that enhance and improve the industry and the business of industry professionals.
Prism Developments Inc. is operating as a real estate broker and property manager in Calgary without having the necessary licence. The Real Estate Council of Alberta (RECA) has issued a penalty of $25,000 to Prism Developments Inc. for trading in real estate without a licence.
Evidence provided to RECA indicates Prism Developments Inc. has been managing properties in Calgary since 2010. Prism Developments Inc. has brokered lease agreements and accepted security deposits and rents on behalf of property owners. These activities require a licence in Alberta.
Prism Developments Inc. is not licensed as a real estate brokerage or as a property manager in Alberta, nor has it ever been.
RECA is the licensing and governing body for property management, real estate brokerage, mortgage brokerage, and real estate appraisal professionals in Alberta. Consumers are encouraged to work only with licensed individuals.
Licensed individuals must meet and maintain rigorous licensing requirements, including:
In the event of a licensee’s fraud, breach of trust or failure to account or disburse money in accordance with the terms of trust, a consumer may be eligible for compensation from RECA’s consumer compensation fund. Consumers who work with unlicensed individuals are not eligible for compensation from RECA’s consumer compensation fund.
Consumers can find out if an individual is licensed through RECA’s website, www.reca.ca. Use the “Searching for an Industry Professional” tool.
If you have concerns as a result of property management dealings with Prism Developments Inc., please contact the Real Estate Council of Alberta toll-free at 1-888-425-2754.
NOTE: This consumer alert was originally issued in December 2016, and referred to an individual who was the director and sole shareholder of Prism Developments Inc. In September 2017, RECA removed the individual’s name from this alert in light of the fact RECA’s Administrative Penalty for unlicensed activity has been reissued to Prism Developments Inc. rather than to the individual previously named.
On September 27, 2017, the Real Estate Council of Alberta (RECA) suspended Mark Charles Holtom, a mortgage associate. Mark Holtom was most recently registered with Dominion Lending Centres Mortgage Mentors in Edmonton.
RECA determined it is in the public interest to temporarily suspend Mr. Holtom. The suspension will continue until the conclusion of RECA disciplinary proceedings against him.
Allegations against Mr. Holtom include that he engaged in conduct that undermines public confidence in the industry, harms the integrity of the industry, or brings the industry into disrepute.
As a result of this suspension, Mark Charles Holtom may not deal in mortgages as a mortgage associate in Alberta.
On September 11, 2017, the Real Estate Council of Alberta (RECA) suspended the real estate licence of Bobby Bob Jacob. RECA suspended Mr. Jacob for refusing to cooperate with a person conducting an investigation.
As a result of this suspension, Bobby Jacob may not trade in real estate in Alberta. His suspension will continue until the executive director is satisfied he has cooperated with the investigation.
Mr. Jacob was most recently registered as a real estate associate with Real Estate Professionals Inc. in Calgary.
On August 2, 2017, the Real Estate Council of Alberta (RECA) suspended the real estate licence of Joe Randy Fournier. RECA suspended Mr. Fournier for refusing to cooperate with a person conducting an investigation.
As a result of this suspension, Joe Fournier may not trade in real estate in Alberta. His suspension will continue until the executive director is satisfied he has cooperated with the investigation.
Mr. Fournier was most recently registered as a real estate associate with Re/Max Grande Prairie. As a result of this suspensions, Joe Randy Fournier may not trade in real estate in Alberta.
Selling a home can seem daunting, whether it’s the first time or the first time in a long time. The Real Estate Council of Alberta (RECA), the regulatory body for real estate and mortgage brokerage professionals in Alberta, has launched a comprehensive Home Seller’s Guide to help Albertans navigate the process.
RECA works in the public interest, and believes knowledgeable consumers are protected consumers. Its new Home Sellers Guide provides consumers with neutral, authoritative information about the entire home selling process, from the first thought of selling to handing over the keys to the buyer. Find the entire guide at homesellersguidealberta.ca.
RECA is confident that the information found in RECA’s Home Seller’s Guide, combined with advice, service, and expertise from licensed industry professionals, will lead consumers to a positive home selling experience.
Check it out at homesellersguidealberta.ca
On July 6, 2017, Philip Fook Shing Tong, previously a real estate broker in Calgary, applied to permanently withdraw from industry membership.
At the time of his application, Mr. Tong was the subject of conduct proceedings under the Real Estate Act. The issues under investigation were whether Mr. Tong failed to:
At the time of Mr. Tong’s withdrawal from industry, there had been no disciplinary hearing, admissions, or findings of fact.
The Real Estate Council of Alberta approved Mr. Tong’s application to withdraw, and this results in a voluntary lifetime prohibition from industry membership; conduct proceedings are now discontinued.
On July 6, 2017, Lori Lynn Critch, previously a real estate associate in Fort McMurray, applied to permanently withdraw from industry membership.
At the time of her application, Ms. Critch was the subject of conduct proceedings under the Real Estate Act. The issues under investigation were whether Ms. Critch stole money from her brokerage.
At the time of Ms. Critch’s withdrawal from industry, there had been no disciplinary hearing, admissions, or findings of fact.
The Real Estate Council of Alberta approved Ms. Critch’s application to withdraw, and this results in a voluntary lifetime prohibition from industry membership; conduct proceedings are now discontinued.
Calgary, Alberta – On July 5, 2017, the Real Estate Council of Alberta (RECA) suspended Batool Ahmadi, a real estate associate broker. RECA determined it is in the public interest to temporarily suspend Ms. Ahmadi. The suspension will continue until the conclusion of RECA disciplinary proceedings against her.
Allegations against Ms. Ahmadi include:
As a result of this suspension, Batool Ahmadi may not trade in real estate in Alberta.
The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for governing real estate, mortgage broker, property management, and real estate appraisal industry professionals under Alberta’s Real Estate Act. RECA’s mandate is to protect consumers and to provide services that enhance and improve the industry and the business of industry professionals.
From July 1 to September 30, 2017, RECA reduces the 2016-2017 fee for new and re-instatement licence applications to $275, and the REIX fee drops to $100.
Because of the fee change, RECA will delete any unfinished new or re-instatement licence applications in the myRECA system at midnight on June 30. Brokers must re-initiate those applications on July 1 if they and the associate wish to continue the process.
You should:
If you have any questions, please contact info@reca.ca.
Appraisers who want to familiarize themselves with the Residential Measurement Standard (RMS) can now access and enroll in the Real Estate Update 2017 (Residential/Rural) course. This new course covers all aspects of the RMS.
Real estate appraisal professionals are not required to complete this course, but it may be of interest to residential property appraisers. Real estate appraisal professionals may want to use the RMS to measure a subject property when the size of the comparable properties has been calculated using the RMS.
The course is available online, free-of-charge through your myRECA account under Education/Course Catalogue. AIC and CNAREA are giving their members 5 CPD Credits for this course.
The course is divided into six sessions, which enables you to complete it in segments; it takes about five hours to complete the entire course. You can complete it using a computer or a mobile device; just review the online material, view the videos, and complete the activities.
The Real Estate Council of Alberta (RECA) has launched Real Estate Update 2017 (Residential/Rural) as the Re-Licensing Education Program (REP) course for those authorized to trade in residential or rural real estate, as well as those authorized as associate brokers or brokers.
If this applies to you, you must complete this course prior to September 30, 2017 in order to meet the education requirement for re-licensing in these areas of real estate practice or in these classes of licence.
The course is about the Residential Measurement Standard (RMS) and includes:
The course also provides engaging and practical activities related to property measurement. In addition, it has helpful Industry Tools such as tip sheets, checklists, and worksheets.
The estimated time to complete the course is about five hours. The course is divided into six sessions, which enables you to complete it in segments. You can complete it online at no cost using a computer or a mobile device. The course is available online through your myRECA account under Education/Course Catalogue. Review the online material, view the videos, and complete the activities. Your education profile in myRECA will automatically be updated once you complete the course.
Are you representing yourself at an upcoming RECA hearing or appeal? You’re not alone. Although RECA strongly encourages industry professionals to get legal representation for hearings or appeals, sometimes industry professionals choose to represent themselves.
Due to the legalistic nature of hearing and appeals processes, industry professionals who do not have legal representation find the process difficult. To improve industry professionals’ knowledge about RECA’s hearing and appeal processes and to help them better prepare to represent themselves, RECA created the Self-Represented Program. The program also demonstrates RECA’s commitment to openness and transparency.
RECA’s Self-Represented Program includes:
RECA recommends industry professionals review all of the Self-Represented Program materials available, including the Guide and the process checklists, before deciding to represent themselves. RECA urges industry professionals to seek legal advice. The Self-Represented Program meaningfully expands on Field Law’s recommendations in its Third-Party Regulatory Review of RECA in 2016. Field Law concluded RECA had robust and fair processes for self-represented industry professionals and suggested additional measures.
The Self-Represented Program is a new and important step RECA is taking to further support industry professionals and become more open and transparent.
For more information on the Self-Represented Program, please contact RECA General Counsel Unit: selfrep@reca.ca
On May 29, 2017, the Real Estate Council of Alberta (RECA) suspended Philip Fook-Shing Tong, a real estate broker, and Ruth Chan Yo Yee Ng, a real estate associate broker. Both individuals were registered with Classic Property Management & Realty Ltd in Calgary. RECA determined it is in the public interest to temporarily suspend Mr. Tong and Ms. Ng. The suspensions will continue until the conclusion of RECA disciplinary proceedings against them.
Allegations against Mr. Tong include:
Allegations against Ms. Ng include:
As a result of these suspensions, Philip Fook-Shing Tong and Ruth Chan Ho Yee Ng may not trade in real estate in Alberta.
The Real Estate Council of Alberta’s (RECA) consultation on and implementation of Real Estate Act amendments for the regulation of condominium managers is on hold pending the Government of Alberta’s completion of its work with respect to the Condominium Property Amendment Act and accompanying Regulations. For more information on the Government of Alberta’s progress, please visit the Service Alberta website.
In the meantime, RECA wants to take this opportunity to clear up some of the misinformation that is circulating about this initiative, and the eventual licensing and regulation of condominium managers.
Thank you again for your interest in this project.
On April 19, 2017, the Real Estate Council of Alberta (RECA) suspended the real estate licence of Melenda Simmons. RECA suspended Ms. Simmons for refusing to cooperate with a person conducting an investigation.
As a result of this suspension, Melenda Simmons may not trade in real estate in Alberta. Her suspension will continue until the executive director is satisfied she has cooperated with the investigation.
Ms. Simmons was most recently registered as a real estate associate with Re/Max Elite in Edmonton.
On April 12, 2017, Geoff Richard Pallett, previously a real estate associate in Edmonton, applied to permanently withdraw from industry membership.
At the time of his application, Mr. Pallett was the subject of conduct proceedings under the Real Estate Act. The issues under investigation were whether, by virtue of criminal convictions against Mr. Pallett, he had engaged in conduct that brings the industry into disrepute.
At the time of Mr. Pallett’s withdrawal from industry, there had been no disciplinary hearing, admissions, or findings of fact under the Real Estate Act or Rules.
The Real Estate Council of Alberta approved Mr. Pallett’s application to withdraw, and this results in a voluntary lifetime prohibition from industry membership; conduct proceedings are now discontinued.
April 12, 2017, Melanie Bell-Fournier, previously a mortgage associate in Grande Prairie, applied to permanently withdraw from industry membership.
At the time of her application, Ms. Bell-Fournier was the subject of conduct proceedings under the Real Estate Act. The issues under investigation were whether Ms. Bell-Fournier altered documents, submitted them to a bank, and lent funds to her client unlawfully.
At the time of Ms. Bell-Fournier’s withdrawal from industry, there had been no disciplinary hearing, admissions or findings of fact.
The Real Estate Council of Alberta approved Ms. Bell-Fournier’s application to withdraw, and this results in a voluntary lifetime prohibition from industry membership; conduct proceedings are now discontinued.
Calgary, Alberta – On April 10, 2017, a Real Estate Council of Alberta (RECA) Hearing Panel suspended Terry William Paranych’s real estate licence for three months; ordered him to pay fines and costs totaling $96,000; and, ordered him to complete the Fundamentals of Real Estate course and all related examinations.
Mr. Paranych shall not be re-authorized to trade in real estate until he pays all fines and costs ordered by the Hearing Panel, as well as completes all education as required by the Hearing Panel.
The Hearing Panel found Mr. Paranych:
Mr. Paranych was previously registered as a real estate associate with Elite Ownership Group Ltd. o/a/ Re/MAX Elite, and most recently registered with Excellence Real Estate Edmonton Ltd. o/a/ Re/MAX Excellence in Edmonton.
Review the Hearing Panel order in its entirety.
The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for governing real estate, mortgage broker, property management, and real estate appraisal industry professionals under Alberta’s Real Estate Act. RECA’s mandate is to protect consumers and to provide services that enhance and improve the industry and the business of industry professionals.
The Real Estate Council of Alberta is pleased to announce that after more than 40 years in Alberta’s mortgage brokerage industry, Gary Siegle, is joining the RECA staff on March 20, 2017 as its first-ever Mortgage Broker Practice Advisor.
Gary has extensive experience in residential and commercial mortgage brokerage, as well as more than 20 years in the mortgage insurance industry, and he started his career with Canada Mortgage and Housing Corporation. Gary also has an extensive background in mortgage broker education and financial literacy.
Over the span of his career, Gary has demonstrated a strong commitment to Canada’s mortgage industry overall, as a(n):
In his role as Mortgage Broker Practice Advisor, Gary will support mortgage brokerages by responding to broker and delegate questions with practical, timely information, guidance, and advisory services that support them in their responsibilities and duties on a “without prejudice” basis. He will assist in the delivery of RECA’s core services to industry professionals, and be available to conduct engaging, timely presentations to brokerages and industry organizations on mortgage brokerage practices and regulatory issues.
RECA’s mandate includes providing services that enhance and improve the industry, and the business of industry professionals. The creation of a Mortgage Broker Practice Advisor position is a tremendous step forward in fulfilment of this mandate. This initiative is part of Council’s 2016-2020 Strategic Plan and will increase Council’s engagement with mortgage brokerage professionals.
RECA added a Real Estate Broker Practice Advisor to its team in early 2012. At that time, RECA was the first real estate regulator in Canada to create such an internal position to assist industry members. That position continues to generate significant positive feedback from Alberta real estate brokers, and RECA is excited to create similar opportunities for Alberta’s mortgage brokers.
When consumers get desperate, fraudsters make their move. In tough economic times, more and more Albertans are struggling to make mortgage payments and could become their next targets. As a licensed professional, you can play a key role in making sure consumers aren’t taken in by online real estate or mortgage scams.
Educate your clients and urge them to Dig Deeper when looking for financial solutions to save their home.
Check out RECA’s other Fraud Detection and Prevention resources and tools available to consumers, including:
We encourage you to share these with consumers; help us make sure no one becomes a victim.
March is Fraud Prevention Month. Follow RECA on social media to keep up to date with Fraud Prevention events and resources from organizations across the province.
As this year’s Fraud Prevention Month begins, the Real Estate Council of Alberta (RECA) is urging Albertans to dig deeper when a real estate or mortgage deal seems too good to be true.
As the licensing and regulatory body for Alberta’s 15,000 real estate, mortgage brokerage and real estate appraisal professionals, RECA’s mandate includes protecting against, investigating, detecting, and suppressing mortgage fraud. RECA has extensive information and resources for consumers that can help them avoid being targets.
“Consumers have the power to protect themselves from opportunistic fraudsters,” says Christine Zwozdesky, RECA Chair. “We encourage consumers to dig deeper for more information if something sounds too good to be true.”
Zwozdesky adds, “Part of RECA’s mandate is consumer protection, and providing Albertans with credible, independent information about mortgage fraud prevention and awareness is one way we can do that.”
Do your research, ask questions, and most of all, make sure you’re working with a licensed mortgage or real estate professional. Their extensive knowledge, experience, and training can help you avoid scams.
Mortgage fraud awareness and prevention resources for consumers are available now on reca.ca. RECA will be participating in Fraud Prevention Month activities throughout March.
The Real Estate Council of Alberta isn’t immune to calls from the public, government, media, and industry members to be more open and transparent with its stakeholders. In July 2015, Council began exploring openness and transparency as broad concepts, and more narrowly, specific ways that RECA could enhance its openness and transparency. Like so many other bodies working in the public interest, there are always concerns that we don’t disclose enough. On the other side of the coin, industry professionals sometimes express concern that we share too much, particularly about disciplinary action.
Council, through its Governance Committee, undertook significant research—including surveys with other regulatory bodies and extensive literature review on those concepts.
That research has culminated in a consultation paper on the important concepts of openness and transparency. This consultation paper is an opportunity for stakeholders to provide feedback on a number of proposals Council is considering. The proposals are divided into four areas:
Remembering that regulating in the public interest and consumer protection is at the core of RECA’s work, it’s necessary to view these proposals within that context.
Download the complete consultation paper, including background on these concepts and results from the research Council undertook.
This consultation is now closed.
On February 22, 2017, the Real Estate Council of Alberta (RECA) suspended the real estate licence of John Malcolm. RECA suspended Mr. Malcolm for refusing to cooperate with a person conducting an investigation.
As a result of this suspension, John Malcolm may not trade in real estate in Alberta. His suspension will continue until the executive director is satisfied he has cooperated with the investigation.
Mr. Malcolm was most recently registered as a real estate associate with Re/Max River City in Edmonton.
Alberta home buyers turn to real estate and mortgage professionals to help them with the biggest purchase they’ll ever make: A home.
RECA always encourages Albertans to work with licensed professionals throughout their home purchase, and an educated consumer armed with additional information can make the process smoother and more positive for everyone.
With that in mind, RECA launched the Home Buyer’s Guide. Consumers can use this new resource as a starting point as they think about buying a home. Sharing it with your clients can help promote a smooth working relationship, and a positive real estate experience.
www.homebuyersguidealberta.ca provides consumers with valuable information on:
All this and more, on a new mobile-friendly website. www.homebuyersguidealberta.ca.
Check it out, and share it with your clients today.
Calgary, Alberta – It’s the biggest purchase you’ll likely ever make. A home.
Do you have the information you need to make a good decision? Do you know who to turn to if you have questions?
Our new Home Buyer’s Guide—and our licensed professionals—can help.
Check out www.homebuyersguidealberta.ca for a comprehensive look at the home buying process in Alberta. Find out about:
All this and more, on a new mobile-friendly website. www.homebuyersguidealberta.ca.
Calgary, Alberta – September 30, 2016 marked the end Real Estate Council of Alberta’s 2011-2016 Strategic Plan. The 2015-2016 Annual Report includes:
If you have any comments or questions the Annual Report, please do not hesitate to contact RECA.
Calgary, Alberta – A new calendar year is an excellent time to review and refresh protocols around your brokerage. With a recent uptick in reports of data encryption by Ransomware, RECA suggests that Alberta brokerages take the time to review the security systems and recovery protocols for important data stored on computers.
Ransomware is malicious software designed to block access to a computer system, often until the owners or users of the computer system pay a sum of money, or “ransom,” to get access to it again.
It is essential for brokerages to take steps to protect not only the private and confidential information of their clients, but also the brokerage’s own confidential information.
In the case of data loss, brokerages should have a disaster recovery plan (DRP) in place. A DRP should:
Brokerages should also protect their data by backing it up. This may be as simple as backing up to a disc or a separate hard drive and storing the back-up at a secure offsite location. Back-ups can also be transmitted over the internet to an offsite disk or cloud service.
Take the time to ensure your brokerage has appropriate security and recovery methods in place to protect important data, and have a plan in place in case of data loss or theft. In the case of a breach, be sure to review and follow the protocol outlined by the Office of the Information and Privacy Commissioner of Alberta (OIPC) in their Advisory for Ransomware.
For more information, please see the following resources:
RECABlog: Planning for an IT Crisis
Information Bulletin: Protection of Client Information
Office of the Information and Privacy Commissioner of Alberta: Advisory for Ransomware
If you have specific questions about appropriate measures to protect and safeguard brokerage and client information, please email info@reca.ca.
On January 25, 2017, Lorna Macneil, most recently a real estate broker operating in Fort McMurray and Medicine Hat, applied to permanently withdraw from industry membership.
At the time of her application, Ms. Macneil was the subject of conduct proceedings under the Real Estate Act related to shortages in trust fund accounts that held owner’s rent money and security deposits. In December 2016, RECA suspended Ms. Macneil’s real estate licence for not cooperating with the investigation.
At the time of Ms. Macneil’s withdrawal from industry, there had been no disciplinary hearing, admissions or findings of fact.
The Real Estate Council of Alberta approved Ms. Macneil’s application to withdraw, and this results in a voluntary lifetime prohibition from industry membership; conduct proceedings are now discontinued.
On January 25, 2016, Kenneth Klassen, previously a real estate associate in Calgary, applied to permanently withdraw from industry membership.
At the time of his application, Mr. Klassen was the subject of conduct proceedings under the Real Estate Act. The issues under investigation were:
At the time of Mr. Klassen’s withdrawal from industry, there had been no disciplinary hearing, admissions or findings of fact.
The Real Estate Council of Alberta approved Mr. Klassen’s application to withdraw, and this results in a voluntary lifetime prohibition from industry membership; conduct proceedings are now discontinued.
