Lockbox Disclosure: Apology and Gifts

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RECO Discipline

This is another one of those cases, nothing special here.

The Buyer’s agent gave the lockbox code to his Buyers,

This came out when the Sellers confronted the Buyers at the showing without the presence of the Buyer’s representative.

The apparent solution, namely, an apology and some gifts by the Buyers’ agent to the Sellers didn’t work.

There was a decision made by RECO on 7 September 2022:

This was a breach of the Code of Ethics, namely:

Fairness, honesty

3. A registrant shall treat every person the registrant deals with in the course of a trade in real estate fairly, honestly and with integrity.

Unprofessional conduct

39. A registrant shall not, in the course of trading in real estate, engagein any act or omission that, having regard to all the circumstances, would reasonably be regarded as disgraceful, dishonourable, unprofessional or unbecoming a registrant.

The fine was $4,500.00 and the was a Course requirement, consisting of two 90 minutes Courses.


There are far, far too many of these! How about a 6 month suspension. I think that might work. If not, let’s move to 1 year. Again, if that doesn’t bring and end to all this nonsense, let’s go with the $25,000.00 fine and a 5 year suspension.

Brian Madigan LL.B., Brokerwww.OntarioRealEstateSource.com

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