Former iPro real estate agents now getting 100% commission payouts: regulator
Global News
The Real Estate Council of Ontario announced the move Wednesday after declaring in October 2025 that agents could expect 50 per cent of their unpaid commissions .
Real estate agents formerly employed by iPro Realty will now get 100 per cent of their unpaid commissions.
The Real Estate Council of Ontario (RECO) announced the move Wednesday after declaring in October 2025 that agents could expect 50 per cent of their unpaid commissions – a decision one agent told Global News didn’t go far enough.
“RECO is enabling the full payment of all eligible commission protection claims. Funds from RECO’s insurance program stability fund are being placed in a protected trust to address the shortfall that RECO believes resulted from the misappropriation of trust funds by iPro’s principals, while concerted recovery efforts continue,” Jean Lépine, administrator and acting CEO for RECO, said in a news release.
“Our focus remains on minimizing the financial impact this situation has had on registrants and holding bad actors to account.”
The development comes after iPro was ordered to close on Aug. 19, 2025 by RECO, the industry’s regulator; shortfalls in its consumer deposit and commission trust accounts were uncovered, forcing 2,400 agents to seek new brokerages.
At the time, RECO said the shortfalls amounted to about $10.5 million, calling it a “serious breach” of the agency’s responsibilities under the law and to its customers and agents.
However, an audit ordered by the Ontario government found iPro had told RECO its trust accounts had a $10-million shortfall in May, but the registrar did not freeze or monitor their accounts for nearly three months afterwards.
RECO’s insurer, Alternative Risk Services, said in a statement that it projects the total losses submitted as claims to be approximately $30 million.
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