Release of Lockbox Code to Buyers Directly

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RECO Discipline

RECO released a discipline decision on 22 September 2022.

The Buyer’s agent released the lockbox code directly to the prospective Buyers. This was just a “showing” of the property. There were no extenuating circumstances of any nature.

There was a fine assessed at $5.000.00 and an obligation to attend the Compliance and Ethics Course. However the agent was given an entire year to take that Course! This is a 90 minute Course that is available 24/7 online. So, why the year?

The agent was found in breach of s. 3 fairness and honesty and s.39 disgraceful and unprofessional conduct.

The penalties seem awfully light for that which would otherwise constitute “breaking and entering” if the matter were reported to the police.

Brian Madigan LL.B., Broker

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