Over the past 18 months, we’ve engaged in what has been described as the most comprehensive consultations in CREA’s history.
We’ve met with numerous boards and associations, hosted several member webinars, conducted a member survey, recorded podcasts, developed FAQs, etc. – all to help educate and engage the REALTOR® community on why it’s time to turn REALTOR.ca into a separate, taxable, wholly owned subsidiary of CREA.
As a central piece to this consultation, CREA released a draft business case (REALTOR.ca Forward) in June 2024 which laid out two possible scenarios:
- Status quo: REALTOR.ca remains under CREA’s not-for-profit umbrella.
- REALTOR.ca is turned into a taxable subsidiary wholly owned by CREA.
Since then, we have taken your feedback and released an updated business case, which is available on CREA’s Member Portal.
Ahead of CREA’s Special General Meeting on October 23, where voting delegates will decide on whether or not to move forward with the recommendation to turn REALTOR.ca into a separate, taxable, wholly owned subsidiary of CREA, James Mabey, CREA’s 2024-2025 Chair recorded a video to explain the case for change.
A transcript is available below.
Hi, I’m James Mabey, 2024-2025 Chair of the Canadian Real Estate Association.
For decades, REALTOR.ca has helped millions of Canadians find their dream homes across this amazing country. But increasing costs, disruptive technologies and changing consumer attitudes are challenging the long-term success of REALTOR.ca.
As the stewards of this powerhouse brand, CREA has a responsibility to take action to help ensure REALTOR.ca’s future success. That’s why we’re consulting with members and boards and associations on a plan to turn REALTOR.ca into a wholly owned, taxable subsidiary of CREA.
By making REALTOR.ca a taxable subsidiary and running it like a business, fully owned by CREA, we’ll be able to generate new sources of revenue that can then be reinvested back into the platform, enhancing it to better compete in today’s challenging market.
More agile. More innovative. More value to members and consumers.
All on a platform owned by REALTORS®.
That’s the future of REALTOR.ca. That’s REALTOR.ca Forward.
To learn more or share feedback, CREA.ca/REALTORinc.
