In January, CREA's Board of Directors voted in favour of transitioning REALTOR.ca into a wholly owned, for-profit subsidiary of the Canadian Real Estate Association (CREA).
Since then, they have been meeting with boards and associations across the country to share the reasoning behind that first step, and initiate engagement in the process moving forward. These were the main takeaways from their outreach over the past several weeks:
- REALTOR.ca's mission must continue to cement REALTORS® at the heart of the real estate transaction.
- Any revenue stream explored must respect core principles, including no REALTOR® advertising or individual paid listing promotion.
- The real estate prop tech sector is well capitalized and growing, and REALTOR.ca must be set up in a way that ensures its sustainable, long-term success; and
- There are tremendous opportunities to create new revenue streams for the funding of REALTOR.ca.
CREA shares this vision, and they will now be forming a task force comprised of REALTORS® from across the country who will look into the future funding and income opportunities for REALTOR.ca and building consensus. The task force's mandate is to ensure all opportunities are explored, and all perspectives heard.
The new collaborative vision for the future of REALTOR.ca will be presented to CREA's membership for a vote in October.
