On February 3, the Canadian Real Estate Association (CREA) shared news with the boards and associations across the country about their long-term vision for Realtor.ca.

Specifically, CREA is proposing to explore converting Realtor.ca into a technology company that’s owned by CREA and the member real estate boards across Canada. If this direction is taken, the new company would have its own board of directors and management. 

CREA contends that this approach would provide access to greater financial investment and technical expertise, which would help Realtor.ca become the most robust, competitive and modern real estate platform in Canada over the long-term.

According to the announcement, the proposal would be guided and driven by the following three principles:

1. Real estate board partners will have a stake in this new company.
2. Realtor.ca will be controlled by CREA on behalf of REALTORS®: it is NOT for sale.
3. Its mission will be to keep REALTORS® at the centre of the real estate transaction. 

“By unleashing its potential, we can continue to grow Canada’s most trusted and comprehensive real estate marketplace, cementing REALTORS® at the heart of the real estate transaction,” according to CREA.

At REBGV, we are working to get more information to assess the merits and to shape our position on this proposal.

CREA has committed to meet with every board and association in Canada to outline its vision in more detail. We look forward to hearing more. We’ll also look for opportunities for CREA to present the business case behind this concept directly to our members so we can all have a clear and common understanding.

CREA recently shared more information they want members to know about this initiative on their website. You'll also find a video featuring CREA CEO Michael Bourque and Chair Jill Oudil. 

As we learn more, we'll share it with you. If you have comments or questions, we’d appreciate hearing your perspective. You can email us at communications@rebgv.org.