Registrations suspended for RE/MAX North Country Realty

By Jenn Watt

Update (Jan. 3 2020): A spokesperson for RE/MAX sent the following update: "To date 65 former RE/MAX North Country Agents are transferring their licenses and remaining in the RE/MAX network. There are currently plans underway to open a new brokerage in the Muskoka and Haliburton regions and more details will be released coming days as details are finalized."

Trading activities have ceased at RE/MAX North Country Realty Inc. which includes offices in Haliburton Minden and Wilberforce following an order by the Registrar of the Real Estate Council of Ontario to suspend its registrations.

A news release from RECO was issued on Dec. 31 stating that “RECO discovered a shortfall in RE/MAX North Country Realty Inc.’s statutory real estate trust account where consumer deposits are to be held.”

The statement goes on to say that “additional action may be taken.”

Contacted for comment a spokesperson for RE/MAX Canada provided the following statement:

“At RE/MAX we are committed to ensuring the consumer is protected and in light of the recent financial matter regarding RE/MAX North Country we took swift action to terminate the brokerage on December 23 2019 and launch an official investigation with RECO. Our focus at this time is to protect the best interests of consumers and our dedicated RE/MAX North Country agents and we are working tirelessly to rectify all issues within our control.”

“We pride ourselves on operating with integrity and take all financial matters that affect consumers or our agents very seriously” said Christopher Alexander regional director of RE/MAX INTEGRA Ontario-Atlantic Canada. “At this time we are committed to working with RECO to understand the full depth of the situation in order to take the appropriate action moving forward.”

Although the Haliburton Echo has not yet been able to reach local agents the Facebook account “ReMax Wilberforce” posted on Dec. 31 that the suspension is unrelated to the agents and staff who work for RE/MAX North Country Realty Inc.

The Face book post also indicates some agents may be transferring to another brokerage. "Thankfully that process is in the works and we are hoping we will be back up and running over the next couple of days."

"Please be patient as we move through this process; We are dedicated to serving our Clients with the same professional & dedicated service you have come to expect from us!” the post reads.

RE/MAX North Country includes offices in Huntsville Bala Bracebridge Burk’s Falls Gravenhurst Kilworthy and Port Loring in addition to Haliburton Minden and Wilberforce. Huntsville is the head office.

This story will be updated as more information is made available.

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RECO’s public advisory includes the following contact information:

Home buyers and sellers with questions about the suspension order including whether a pending sale or purchase will be completed on time should contact:

Shaun Chu-A-Kong

Phone: (416) 207-4873

Toll Free: 1-800-245-6910 ext. 4873

Email: shaun.c@RECO.on.ca

Questions about consumer deposit claims or other insurance-related inquiries should be directed to RECO’s Insurance Department:

Jeremy Meuris

Phone: (416) 207-4875

Toll Free: 1-800-245-6910 ext. 4875

Email: insurance@reco.on.ca

Cooperating brokerages for trades in which RE/MAX North Country Realty Inc. holds the deposit and/or are owed commissions by RE/MAX North Country Realty Inc. should contact:

Jeremy Meuris

Phone: (416) 207-4875

Toll Free: 1-800-245-6910 ext. 4875

Email: insurance@reco.on.ca

Employees of RE/MAX North Country Realty Inc. with questions about commissions should contact the claims adjuster for RECO’s insurance program:

ClaimsPro LP

Toll Free: 1-877-740-1913

Toll Free Fax: 1-866-735-1033

Email: claims@reco-claims.ca

The insurer requires one Notice of Claim Commission Protection form per trade. Claim forms are located on the insurer’s website: www.reco-claims.ca

Employees of RE/MAX North Country Realty Inc. with questions about the procedures for transferring a registration to a new brokerage should contact:

Shahin Rehmtulla