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- iPro Realty Just Got Shut Down
iPro Realty Just Got Shut Down
2,400 Agents in Limbo, Condo Prices Hit New Lows, RioCan Exits Rentals, and Ottawa Doubles Down on Buyer Incentives
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Today, we’re covering
🛑 RECO Shuts Down iPro Realty
🏢 RioCan Quits Rental Game
📉Condo Prices Hit 4-Year Low
🧐 Canada Expands Buyer Incentives
🤔 WTF of The Week
Read Time: 4 minutes
🛑 RECO Shuts Down iPro Realty
RECO is shutting down iPro Realty Ltd. and all 17 of its Ontario branches by August 19, 2025
The Mississauga-based brokerage employs around 2,400 agents
A scheduled inspection uncovered a trust account shortfall of over $10 million.
The breach is a violation of TRESA (Trust in Real Estate Services Act)
Transactions already in progress will close as usual, but no new deals can be done under iPro
Agents must sign with a new brokerage to continue working, iCloud Realty Ltd. is stepping in to take over locations
Why It Matters: A major brokerage collapse signals regulatory tightening and trust account scrutiny ahead. Increased consumer risk perception may affect buyer and seller confidence, especially for firms handling deposits
