The province is poised to “assume control” of Ontario’s real estate watchdog in roughly two weeks “to prevent serious harm to the public” unless the regulator can provide a compelling alternative, according to a ministry letter obtained by the Star.

The letter, sent Thursday afternoon to the board chair of the Real Estate Council of Ontario (RECO) is the government’s formal response to its review of a long-awaited investigative report into the regulator’s mishandling of the iPro Realty scandal .

The investigative report, produced by Dentons Canada , identified “significant issues with RECO’s practices, processes and procedures, and raises serious questions about RECO’s organizational culture,” Minister Stephen Crawford wrote in a letter addressed to RECO chair Katie Steinfeld.

“Thes

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