UPDATE Jan. 1, 2020 RE/MAX sent the following statement via email:
“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 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.”
The Real Estate Council of Ontario (RECO) has issued an order to immediately suspend the registration of the Re/Max North Country Realty Ltd. brokerage, with its head office in Huntsville.
According to a real estate agent with the brokerage, who asked to remain anonymous, realtors have not been paid commissions on their sales and it is unclear where deposits for pending transactions have gone.
“RECO discovered a shortfall in RE/MAX North Country Realty Inc.’s statutory real estate trust account, where consumer deposits are to be held. Additional action may be taken and information will be made available through RECO’s website,” states the advisory issued by RECO today, December 31, 2019.
Attempts by Huntsville Doppler to reach the broker of record for the brokerage, Ray Jarvis, have been unsuccessful.
“All trading activities at RE/MAX North Country Realty Inc. and its registered branches must cease immediately,” according to RECO.
The advisory also provides contact information for those impacted by the suspension. You can find the advisory at this link.
The brokerage also has offices in Bala, Bracebridge, Burk’s Falls, Gravenhurst, Haliburton, Kilworthy, Minden, Port Loring and Wilberfoce which are also impacted by the suspension.
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