Roughly 90% of initial deal submissions have at least one compliance issue. myAbode catches every one of them — before they reach a regulator.
Compliance is the Broker of Record's responsibility. We help you carry it.
When a deal goes wrong on compliance, it lands on the broker of record, not the agent. That's the reality of operating a brokerage in Ontario. RECO governs how your brokerage runs, FINTRAC governs anti-money-laundering on every transaction, and both carry real consequences.
myAbode's operations team handles that review for you, on every deal, every time — not as year-end audit prep, but as a standard part of how transactions are processed from day one
Compliance in a real estate brokerage is not a single checkbox. It runs across two distinct regulatory frameworks, both of which myAbode manages as part of your deal processing.
TRESA (Trust in Real Estate Services Act) is the Ontario legislation that governs how agents and brokerages must conduct business — from disclosure obligations to trade record requirements. RECO is the regulator responsible for administering and enforcing it.
RECO enforces the operational and transactional standards set out under TRESA for Ontario real estate brokerages. For every deal your brokerage processes, myAbode verifies:
On an ongoing basis, myAbode also reconciles your real estate trust account monthly — a RECO requirement for every brokerage, regardless of trust balance. If something is missing, our team flags it and works directly with the agent to resolve it before the deal closes.
FINTRAC requirements apply to every real estate transaction in Canada. They govern identity verification, record-keeping, and suspicious transaction reporting. These are federal obligations — and the penalties for non-compliance are federal in scale.
For every deal, myAbode ensures:
Every action taken on a deal inside the myAbode platform is logged automatically — who reviewed it, what was flagged, when it was resolved, and what was submitted. You are not assembling this trail after the fact. It exists from the moment a deal enters the system.
If RECO comes to inspect, or FINTRAC requests records, your files are organized, complete, and ready. That is not a promise — it is how the service works on every deal, every day.
Failing a RECO or FINTRAC audit is expensive, but it's also avoidable, and myAbode is built so it doesn't happen. Our operations team reviews every deal your brokerage processes against both RECO's brokerage-conduct requirements and FINTRAC's anti-money-laundering obligations.
Not as a year-end scramble, but on every transaction, from day one. Because that review is consistent, documented, and built into how your deals move, issues get caught and corrected before they can ever become an audit finding.Your broker of record stops carrying personal liability on top of manual processes, and your brokerage stays audit-ready year-round instead of audit-anxious once a year.
myAbode doesn't just prepare your files for a RECO inspection, we can be present for it. Our team has supported over 15 brokerage audits, and in every case the files were organized, complete, and ready before the regulator arrived. Some of our clients choose to hold their audits at our Toronto office with our team present. This service is available as an add-on, billed hourly.
There was an audit, and it was handled — no stress, no scrambling. It was a small discrepancy, and the myAbode team just took care of it.
From submission to payout, see exactly what you get when our dedicated team takes the backend burden off your plate.
Manual, per deal, risk of gaps
Reviewed on every deal as standard
Collected and checked manually
Validated by our team on every transaction
Assembled after the fact
Built automatically, deal by deal
Broker or admin chasing agents
Handled directly by myAbode's team
Prepared when notified
Always ready — files are never out of order
Broker of record alone
myAbode available to attend and support
myAbode reviews every deal against both RECO and FINTRAC requirements as part of standard deal processing. This includes document completeness, identity verification, disclosure requirements, trade record standards, and record retention. Every action is logged automatically, giving your brokerage a complete audit trail on every transaction.
The consequences are serious, and usually avoidable. On the RECO side, fines can reach $100,000 for a brokerage and $50,000 for an individual agent, with cases that escalate to provincial court carrying corporate penalties up to $250,000. On the FINTRAC side, anti-money-laundering penalties average over $130,000 per case.
The exposure isn't only corporate, a broker of record can face personal fines, suspension, or loss of registration, on top of closer regulatory scrutiny, operational restrictions, and reputational damage that makes recruiting and retaining agents harder. Most brokerages that get caught aren't reckless; they're under-resourced, leaning on manual processes and an overstretched broker of record. myAbode exists to close that gap before it becomes a problem.
Yes. myAbode offers RECO audit support as an add-on service, including the option to hold your audit at our Toronto office with our team present. Because your deal files are maintained in order throughout the year, audit preparation is not a last-minute scramble — the work is already done. Book a Demo to learn more.
Book a 30-minute call with us. No pressure, no commitment. We'll walk you through exactly how the service works, what it costs for your brokerage specifically, and whether it's the right fit.
