The Real Estate Council of Alberta is the independent governing authority that sets, regulates, and enforces standards for residential real estate, commercial real estate, property management, condominium management, and mortgage brokerage licensees in Alberta.
To put it simpler: RECA licenses and regulates real estate agents, mortgage brokers, property managers to enhance consumer protection. Condominium managers have been brought under RECA’s jurisdiction, however RECA will begin licensing and regulating condominium managers on December 1, 2021.
Licensed professionals have to meet certain criteria and RECA’s standards to enter the industry. They’re required to comply with RECA’s rules for doing business along with competently assisting the public of Alberta in buying, selling, or managing a property, or obtaining a mortgage.
RECA also helps licensees enhance their business through education, information resources, regulatory compliance tips, and consumer-friendly information for their clients and customers.
RECA’s mandate is to protect consumers, to provide services to facilitate the business of licensees, and to protect against, investigate, detect, and suppress fraud as it relates to the business of licensees.
RECA creates consumer trust and confidence in the real estate industry by: