$10.5M Missing: Inside Ontario Real Estate’s Biggest Wake-Up Call
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$10.5M Missing: Inside Ontario Real Estate’s Biggest Wake-Up Call
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$10.5 million vanished—and Ontario’s real estate industry is in crisis. In this must-watch episode, real estate lawyer Mark Morris (LegalClosing.ca) joins host Paul Micucci to break down the iPro/RECO financial meltdown and why it may be the biggest test of self-regulation the industry has faced in years.
From trust account failures and forensic audits to the looming fallout over unpaid pre-construction commissions, we go beyond the headlines to understand how this happened, who’s at risk, and what real accountability could look like.
In this episode:
• What happened to the $10.5M in missing iPro trust & commission funds
• The legal implications of the RECO investigation and insurance caps
• How deferred commissions on new builds may trigger future disputes
• What agents, buyers, and sellers need to know right now
• Why systemic reform may be the only way forward
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