Results from CREA’s 2023 Open Forum and SGM

On Wednesday, October 18, 2023, the Canadian Real Estate Association (CREA) hosted an in-person Open Forum and Special General Meeting (SGM) on the future of REALTOR.ca.

During the Open Forum, attendees were presented with details of the vision, mission and guiding principles for REALTOR.ca as prepared by the REALTOR.ca Task Force. Voting delegates were polled on their level of support through four questions focused primarily on the guiding principles – the operational guardrails for REALTOR.ca as a separate, taxable, wholly owned subsidiary of CREA:

1. 1. REALTOR® ownership of REALTOR.ca;
   2. Revenue Reinvestment; and
   3. Governance Excellence.

The response of this directional endorsement exercise was overwhelmingly supportive:

Question 1: To what extent do you support the REALTOR.ca Task Force proposal that REALTORS® will be the only owners of the new company (REALTOR.ca) via their membership with CREA?

Question 2: To what extent do you support the REALTOR.ca Task Force proposal that all new company (REALTOR.ca) net revenue be reinvested in REALTOR.ca to continue to grow its service and benefits to members and consumers?

Question 3: To what extent do you support the REALTOR.ca Task Force proposal that the new company (REALTOR.ca) will have its own skills-based board made up of diverse, experienced, and independent directors? 

Question 4: To what extent do you support CREA’s Board of Directors moving forward with the creation of a business plan and other considerations in support of a final vote on the future of REALTOR.ca at the 2024 CREA AGM? 

We greatly appreciate the candid feedback we’ve received in the lead-up to and during CREA’s 2023 Open Forum and SGM. We also recognize and applaud the hard work of the REALTOR.ca Task Force over the last five months in developing these key – and nonnegotiable – guardrails.

CREA accepting nominations for skills-based REALTOR.ca Task Force

Producing a comprehensive business case at the level of rigor expected by boards and associations ahead of CREA’s 2024 Annual General Meeting (AGM) in April is ambitious. To best facilitate the work ahead, CREA’s Board of Directors has approved the creation of a new skills-based REALTOR.ca Task Force that will review and validate a business plan.

Boards and associations are invited to nominate up to two REALTOR® or association staff members for consideration on the new REALTOR.ca Task Force. All nominations must be accompanied by the nominee’s CV, which will be evaluated against the following criteria:

• Willingness to champion CREA technology products and services.
• At least two of the following:

1. 1. Degree from a recognized university in a business or technology-related field.
   2. Demonstrated knowledge and experience working in a technology related field.
   3. Experience developing strategic business plans, especially in areas related to business restructuring or mergers and acquisitions.
   4. Experience with financial modeling and analysis to evaluate the monetary implications.
   5. Versed in not-for-profit bylaws.
   6. Skilled in managing and engaging stakeholders to ensure all perspectives are considered.

The new REALTOR.ca Task Force will be appointed by CREA’s Board of Directors from interested applicants. If you’d like to apply, we encourage you to contact your board or association. The application deadline is Friday, November 3, 2023.