The Real Estate Council of Alberta (RECA) is the independent governing authority that sets, regulates, and enforces standards for real estate brokerage, mortgage brokerage, property management, and real estate appraisal professionals in Alberta.
To put it simpler: RECA licenses and regulates real estate agents, mortgage brokers, property managers, and real estate appraisers to enhance consumer protection.
Licensed professionals have to meet certain criteria and RECA’s standards to enter the industry. They’re required to comply with RECA’s rules for doing business along with competently assisting the public of Alberta in buying, selling, or appraising a property, obtaining a mortgage, or managing a rental property.
RECA also helps licensed professionals enhance their business through education, information resources, practice tips, and consumer-friendly information for their clients and customers.
RECA’s mandate is to protect consumers and to provide services that enhance and improve the real estate industry and the business of industry professionals.
RECA creates consumer trust and confidence in the real estate industry by:
- setting and enforcing standards of conduct and professional development requirements for the industry to protect the consumer
- providing services that enhance and improve the industry
- promoting the integrity of the industry
- protecting against, investigating, detecting and suppressing mortgage fraud as it relates to the industry
By 2020, the Real Estate Council of Alberta will:
- set the foundation for real estate professionals to serve the public interest, protect consumers, and provide a positive real estate experience through effective establishment and enforcement of professional standards
- be recognized as an independent, responsive, and impartial governing body
- ensure real estate practitioners have a professional mindset and engage in the practice of self-regulation