Milestones

City Wide Professionals Inc. is now three professionals strong! Hurray! Not explosive growth by any measure but I'm happy nonetheless. Furthermore, a professional other than me has made his first sale! Hurray! These are important milestones to a small brokerage like ours.

RECO Inspection

I had my first RECO inspection a couple of weeks ago. RECO stands for Real Estate Council of Ontario - the regulatory body that governs the real estate industry in Ontario.

I have to admit, I was a bit anxious leading up to the meeting with the inspector. Being the first time through such an inspection, I didn't fully know what to expect. My books and files are very organized, so there was nothing for me to worry about, but as with anything, the first time is always nerve-wrecking!

The inspection was very stringent and throrough, but educational. The inspector was very knowledgeable and had lots of practical advice for the proper setup of a brokerage's records. I needed a couple of minor adjustments but otherwise everything went very well.

It is good to know that inspections like these serve the purpose of not only educating brokerages, but in the process, help to protect consumers. This value of protecting consumers is what I feel strongly about, so I welcome any future inspections. My books are always ready for inspection by RECO.

Progessing Well

It's been almost six months since starting. I have been busy and things are progressing well, albeit slower than I hoped. But, that's ok. I now have made a couple of transactions and have one professional onboard. It's still a learning process - lots of paperwork and accounting but worth the effort because I'm learning first hand what it takes to run a brokerage!