RAHB Update for March 27 re: COVID-19

Update from RECO – Error and Omissions Insurance, Commission Protection and Consumer Deposit

Many Registrants, both individuals and brokerages, have been asking about how the Professional Liability Program administered by RECO responds to claims related to COVID-19.  To that end, the insurance program administrated by RECO has prepared a document to help clarify coverage in these new and evolving times.

Please click the below button to access the PDF document:

RECO’s Position Regarding Real Estate as an Essential Service – It’s NOT “Business as Usual”

On Thursday, March 26, RECO released their official position with regards to real estate being an essential service, as per Premier Ford.

In short, the government has signaled that real estate trades may continue. But that doesn’t mean a return to “business as usual.” Ontario remains under a state of emergency, and registrants have a duty to follow the direction of health officials to minimize direct physical interaction. Embracing digital technology is essential in order to reduce the risk of COVID-19 transmission.

For RECO’s full statement, please click the button below.

Please note: OREA is taking the position – and RAHB agrees – that all REALTORS® should stop face-to-face business, including open houses, in-person showings, and maintaining agents and public office hours.

We recognize that RAHB cannot police this; however, RAHB can say don’t undertake in-person activities. The message we have received from OREA is that if REALTORS® don’t act responsibly, there is great potential the provincial government will take away the “essential workplace” designation for real estate. If this happens, then REALTORS®, as well as buyers and sellers, will not a have a choice.

We are relying on members to do the right thing for their communities. We all have to do our part to slow the spread of COVID-19, and help to maintain the health of our communities.