Three vacancies to be filled at the 2025 AGM
About RECO
The Real Estate Council of Ontario (RECO) regulates real estate agents and brokerages in the province, protecting the public interest through a safe and informed marketplace. RECO holds real estate agents to professional standards, protects the public interest, and enhances consumer confidence in the real estate profession. In addition, RECO strives to educate consumers to ensure they understand the benefits of a regulated real estate sector.
RECO is a not-for-profit corporation that is delegated by the provincial government to administer and enforce the Trust in Real Estate Services Act, 2002 (TRESA) and associated regulations. RECO was established in 1997 as a delegated administrative authority (DAA) under the Safety and Consumer Statutes Administration Act. This was the result of a mutual desire of the government and the real estate industry to enhance professionalism, increase consumer protection and provide an effective and responsive regulatory framework.
The Ministry of Public and Business Service Delivery and Procurement (MPBSDP) continues to be responsible for TRESA and associated regulations, as well as general oversight of RECO.
Mission
As Ontario’s regulator, our role is to protect consumers by ensuring that real estate agents and brokerages understand and follow the law. (Note: this is the new mission statement, which will become effective 04/2025)
Vision
A trusted and transparent real estate services sector where consumers feel confident in every transaction. (Note: this is the new vision statement, which will become effective 04/2025)
Values
Model empathy and choose inclusivity.
We act with respect, commitment, and courage, engaging with people empathically and considering their backgrounds and perspectives.
Be intentional in all actions
We act consciously and deliberately in our actions to achieve the most appropriate outcome.
Act with integrity
We act honestly and consistently, displaying fairness and equity in decision-making.
Embrace curiosity
We are inquisitive, taking an interest in ideas and perspectives of others, and are committed to continual improvement
Be strategically agile
We make responsiveness a priority by monitoring our changing environment and being ready to act and modernize as needed.
For further information about RECO, please visit our website.
Board composition
In 2024, the Minister of Public and Business Service Delivery and Procurement (Minister) issued orders to adjust the size and structure of RECO’s board, causing a shift towards a skills-based board model. As a result, the overall size of the board decreased from 12 Directors to 9, composing of: 3 Non-Sector Directors, being those who are not part of the real estate sector; 3 Ministerial appointees, who are appointed by the Minister; and 3 Sector Directors, being those who are part of the real estate sector. Formerly, RECO’s Board of Directors consisted of 9 Sector Directors and 3 Ministerial appointees.
At the 2025 AGM, all three of the current Sector Directors’ terms end, thereby creating an opportunity for 3 new Sector Directors to be elected to the RECO Board.
For more information on the Minister’s Orders, visit RECO's By-laws, policies & other documents web page.
Mandate
The role of the Board is to assume the overall stewardship by adopting strategic governance practices, overseeing the organization’s affairs and monitoring and assessing the performance and progress of RECO’s short- and long-term goals. The Board is expected to champion the strategic goals while the day-to-day operations are led by the CEO. The Board-CEO relationship is a partnership, and the appropriate engagement of the Board is both critical and expected.
Board Directors are responsible for acting in the best long-term interests of RECO and are required to adhere to Schedule C of the Administrative Agreement, which has been included for candidates to familiarize themselves with.
The opportunity
RECO is seeking qualified candidates who have a positive orientation for proactive consumer protection and extensive experience in the real estate industry as a residential or commercial salesperson, broker, or broker of record. The ideal candidate will have a proven track record in governance, leadership, and strategic decision-making, and will bring the ability to think critically, be accountable for the actions and achievements of the Board, and collaborate effectively, including the ability to listen to others’ views, advocate their own, identify common interests and alternatives, and be open to compromise. Candidates should also be able to demonstrate integrity, high ethical standards, and understand and respect the importance of privacy and confidentiality.
In addition, diversity on the Board is a priority as RECO endeavors to achieve a diverse and inclusive membership while ensuring the desired mix of skills, knowledge and experience.
Please note that the role of the Sector Director is not to represent the industry, but rather bring perspective from the industry. All Board Directors should remain committed to RECO’s mission, vision and strategic objectives.
Key accountabilities
- Attend regularly scheduled Board meetings and actively participate on at least two Board Committees.
- Understand RECO’s goals, objectives and programs and how they are developed and implemented.
- Support governance decisions once made.
- Monitor the overall performance of RECO in relation to its mission, objectives, core values and reputation
- Appoint the CEO, approve their annual objectives and assess their performance, and if required, release the CEO
- Oversee RECO’s strategic direction, corporate objectives, and mission as it relates to the development or progress of the strategic plan and incorporate identified opportunities and challenges from the strategic environment.
- Ensure clear direction is provided to the CEO, ensuring alignment with the Board’s decisions.
- Oversee the policies and frameworks that govern RECO’s internal and external conduct.
- Recruit and orient new Board members and regularly assess Board performance to effectively plan for Board succession and continuity of operations.
Other responsibilities
- Ensure that organizational policies are clearly defined, regularly reviewed and acted upon by the Board.
- Ensure that the distinction is maintained between management and Board functions, management and Board roles, and policy development and implementation.
- Ensure that effective organizational planning is completed by the CEO to implement Board direction and take advantage of opportunities and mitigate risks that have been identified.
- Maintain oversight of an integrated risk management framework that anticipates, manages and reports on (at minimum) financial, regulatory, legislative, reputational risks.
- Maintain legal and ethical integrity and ensure accountability through the identification and declaration of conflicts of interest.
- Review and approve RECO’s financial objectives and results.
- Provide strategy and advice on current and potential issues related to the overall fiscal plan.
- Provide strategic advice and/or recommendations on financial risk mitigation strategies and performance measures and ensure that all forms of risk to RECO are mitigated.
- Participate in the approval of the annual budget and business plan and monitor the financial performance as well as progress against the business plan.
- Understand and articulate RECO’s position and objectives as the regulator of the real estate sector in Ontario.
- Seek opportunities to advance RECO’s consumer protection objectives and participate in activities when necessary.
- Support innovation within real estate regulation by identifying new ideas and themes to be assessed through stakeholder engagement and other activities.
- Think, act and speak independently, listen to others’ views, advocate their own, identify common interests and alternatives, and be open to compromise.
Qualifications
The following are considered key qualifications for this opportunity:
- Must be an individual who is at least 18 years of age
- Not been found incapable under the Substitute Decision Act, 1992 (or its successor) or under the Mental Health Act (or its successor) of managing property
- Not been found to be incapable by any court in Canada or elsewhere and has not been found to have the status of bankrupt.
- Must be registered with RECO.
- Must possess a positive orientation for proactive consumer protection.
- Must have knowledge of the industry.
- Must not be an employee, director or officer of any real estate trade association.
- Must not have been found by the Discipline Committee of RECO to have contravened TRESA (or REBBA), the regulations under TRESA (or REBBA), including the Code of Ethics regulation, or had similar findings by any other regulatory body or professional association in the last five (5 years).
- Must not have had a professional licence or registration refused, suspended, revoked or subject to conditions to which they did not consent in the last five (5) years.
- Must not have been found guilty of a provincial or criminal offence that is relevant to their sustainability to serve on the Board for which a pardon has not been granted.
Term of office
Typically, the term of office for Directors is three years. However, in 2025 three sector Director vacancies will need to be filled requiring those elected to serve staggered terms of 2 years, 3 years and 4 years. In steady state, one vacancy for a sector director will materialize every year.
Meetings/Time commitment
The RECO Board meets approximately six times a year or at the call of the Chair. In addition, each Board member is expected to sit on at least two Committees. Committees meet approximately four to six times a year, so a RECO Board Member will be expected to attend a minimum of eight Committee meetings per year. A minimum commitment of approximately 14 days per year should be expected, inclusive of preparation time.
Currently, the Board’s preference is to meet in person for Board meetings, at RECO’s Office, and virtually for committee and other meetings, although circumstances may cause this to shift as necessary. As a result, Board members are required to have access to a private space to attend virtual meetings, in addition to a computer and internet service.
Remuneration
RECO Board Directors are paid an annual retainer, a per diem for attending meetings, and any reasonable Board-related expenses incurred, according to the remuneration policy.
Evaluation
Evaluations of Board Directors are conducted periodically.
Location
Generally, in-person activities are conducted within the GTA.
How to Apply
If you are interested in driving positive change in the regulation of the industry, we encourage you to apply. All applicants are subject to a vetting process and only those that are considered to best meet the established criteria, qualifications and competencies set by the Board of Directors will be contacted for an interview for consideration as a candidate for election at the annual general meeting in 2025.
Application Form for RECO Sector Directors
RECO is committed to equity in its policies, practices, and programs and is committed to ensuring that the organization reflects the diversity of the Ontario community, in which it operates. All qualified individuals who would contribute to the further diversification of our Board are encouraged to apply.
