What does RECO stand for in the context of real estate in Ontario?

The correct answer is the Real Estate Council of Ontario, commonly known by the acronym RECO. RECO is the regulatory body responsible for governing real estate professionals in Ontario. Its primary role is to protect the public interest in real estate transactions by ensuring that real estate agents and brokers adhere to the established laws and ethical standards set forth in the Real Estate and Business Brokers Act.

The council oversees the registration of real estate professionals, provides education and training, and handles complaints against registered individuals. By ensuring that professionals are compliant with regulations, RECO plays a crucial role in promoting accountability and transparency within the real estate market in Ontario.

Other options do not reflect the correct functions or structure of the regulatory body in Ontario real estate, as they either misrepresent the name or the purpose of the organization.