{"id":287141,"date":"2025-06-11T03:41:16","date_gmt":"2025-06-11T03:41:16","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/reca-firmly-committed-to-protecting-consumers\/"},"modified":"2025-06-11T03:41:16","modified_gmt":"2025-06-11T03:41:16","slug":"reca-firmly-committed-to-protecting-consumers","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=287141","title":{"rendered":"RECA \u2018firmly committed\u2019 to protecting consumers"},"content":{"rendered":"


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The following was submitted in response to a recent opinion piece<\/a> written by Alberta Real Estate Association CEO Brad Mitchell.<\/p>\n<\/blockquote>\n

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Contrary to the Alberta Real Estate Association\u2019s disappointing and ill-informed assertions published in the Real Estate Magazine, the Real Estate Council of Albert\u2019s (RECA) actions in the Drinkwater matter demonstrate the effectiveness of Alberta\u2019s real estate regulatory framework. RECA is firmly committed to protecting consumers and upholding the integrity of Alberta\u2019s real estate industry.<\/span><\/p>\n

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\u201cRECA acted swiftly\u201d<\/h2>\n

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Upon receiving credible allegations of fraudulent activity by Eric Drinkwater in spring 2024, RECA acted swiftly and decisively in accordance with our statutory mandate. Using the emergency power under Section\u202f53 of the <\/span>Real Estate Act<\/span><\/i>, RECA\u2019s Residential Real Estate Broker Industry Council Chair ordered Mr. Drinkwater\u2019s licence suspended on June\u202f18, 2024. Effective immediately on that date, Mr. Drinkwater was barred from trading in real estate in Alberta, eliminating any ongoing risk to consumers while the case was under review.<\/span><\/p>\n

RECA then launched a thorough investigation into the allegations, while cooperating fully with law enforcement and following due process under the Act. RECA\u2019s standard practice is to share relevant information with law enforcement. The Calgary Police Service formally charged Mr. Drinkwater with fraud on May\u202f8, 2025.\u00a0 RECA\u2019s investigation was completed and a disciplinary hearing was scheduled for March 2025; after an adjournment requested by Mr. Drinkwater, the hearing proceeded on May\u202f22, 2025.\u00a0 The Panel\u2019s written decision will be made public, consistent with RECA\u2019s commitment to transparency.<\/span>\u00a0<\/span><\/p>\n

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RECA\u2019s process reflects the latest regulations, says Paquin<\/h2>\n

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Alberta\u2019s modernized regulatory regime, including the post-2019 governance reforms, was created to ensure public confidence through decisive action against misconduct, and RECA\u2019s handling of this case reflects that mandate. It is important to know this is a complex and ongoing matter and communication must be done in the proper timeframes to ensure integrity of the process.<\/span><\/p>\n

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