Humber/Ontario Real Estate Course 1 Exam Practice

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What does RECO stand for in the context of Ontario real estate?

Real Estate Compliance Organization
Real Estate Council of Ontario
Real Estate Corporation of Ontario
Realty Estate Cooperative of Ontario

The correct answer is: Real Estate Council of Ontario

The correct answer, Real Estate Council of Ontario, reflects the governing body responsible for regulating real estate professionals and the industry within Ontario. RECO plays a crucial role in maintaining standards, protecting consumers, and ensuring that real estate transactions are conducted fairly and transparently. This organization administers licensing for real estate agents and brokers, oversees compliance with laws and regulations, and provides education and resources to support real estate professionals in their practice. Recognizing RECO’s function emphasizes the importance of regulatory bodies in maintaining integrity in the real estate market. The other options do not accurately describe the organization. While they may suggest some relevance to real estate, they do not exist or carry the same meaning as the Real Estate Council of Ontario, which is well-established as the official regulatory authority in this field.