The Canadian Real Estate Association (CREA) announced a Special General Meeting (SGM) in the fall to vote on a draft business case outlining the future of REALTOR.ca.

CREA’s board of directors recently decided to move the vote, originally slated for CREA’s Annual General Meeting in April, to allow more time for consultation and engagement with members across Canada.

The business case is being developed by CREA’s REALTOR.ca Task Force under a framework of guiding principles outlined at the October 2023 SGM.

Alongside the upcoming consultation, the task force is evaluating the benefit, cost, and risk of options for REALTOR.ca and will provide the rationale for the preferred future path.

Their work is focused in three main areas:

• Governance: bylaws, articles of incorporation, shareholder agreement, etc.
• Financial analysis: revenues, costs, risks, five-year model, etc.
• Operating model: transition plan, shared services, proposed new model, etc.

To date, task force has nearly completed work on the governance section and, during the Open Forum portion of the 2024 CREA AGM, will conduct an engagement exercise to collect feedback on the progress to date.

CREA has outlined the steps it will take leading up to the fall SGM, placing them into three phases:

• Consultation (March – June 2024): Kicking off at the 2024 Joint Association Executives (AE) Institute, CREA will engage in a two-way conversation on the draft business case, starting with governance.
• Consideration (July – August 2024): Using the feedback collected during the consultation phase, the draft business case will be reviewed and finalized.
• Advocacy (Fall 2024): CREA will communicate with boards/associations and members in the lead up to a 2024 CREA SGM.