RECA - Real estate Council of Alberta

RECA Real-Estate Council of Alberta

Just like Doctors or Lawyers Mortgage Brokers are governed by RECA Real-Estate Council of Alberta. This council is composed of twelve members, representing residential and commercial real estate, property management, mortgage brokers, real estate appraisers, and the public. RECA was established in 1996 as a non government and independent association. Their responsibilities include determining setting and enforcing standards of conduct and business practices for industry professionals, providing services that enhance and improve the industry, and administering the Real Estate Act, Bylaws, and Rules. Having a governing body make a lot of sense seeing as a Mortgage Broker we are a critical part in helping you in making probably one of your biggest investments in your life.

RECA has some great tools to help you protect yourself and make sure you are working with an industry professional that is in good standings. Any professional in the real-estate industry, if found doing anything illegal or unethical will be suspended and in most cases fined and not allowed to get re-licensed. The best part is that this is all public knowledge. They actually have a news letter called the Regulator that advertises if anyone was recently suspended.

Another very key tool that I suggest you use anytime that you are going to work with someone in the industry is to put their name in RECAs website to get a current update on each persons status and who they are licensed with. I think many consumers dont understand what RECA does and if more Albertans took advantage of the above motioned tools then we would see fewer victims of un professional Mortgage brokers, Realtors, and appraisers out there.

For more information visit www.MortgageBrokerRate.com

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Education

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• RECA
• Alberta Mortgage Broker
• Alberta Mortgage Rates