Humber/Ontario Real Estate Course 1 Exam Practice

Real Estate Council of Ontario (RECO) is responsible for which of the following?

1. Conducting property appraisals

2. Overseeing real estate transactions

3. Training home inspectors

4. Promoting real estate investments

5. Regulating real estate professionals

6. Managing property listings

The correct answer is: Regulating real estate professionals

The Real Estate Council of Ontario (RECO) is primarily responsible for regulating real estate professionals in Ontario. This encompasses licensing real estate agents and brokers, ensuring compliance with the Real Estate and Business Brokers Act, and promoting ethical conduct within the profession. By regulating professionals, RECO aims to protect consumers and maintain the integrity of the real estate industry. Other responsibilities mentioned in the options, such as conducting appraisals or training home inspectors, fall outside RECO's purview, as these tasks are typically handled by specialized organizations or other governing bodies. Similarly, while RECO does oversee aspects of real estate transactions to ensure compliance with regulations, its main focus is on the regulation of professionals rather than directly overseeing all transactions, managing property listings, or promoting investments.