When Janice Myers took over the role as CEO of the Canadian Real Estate Association (CREA) in January 2024, she had several goals for her first 100 days. From collaboration with boards and associations to continued progress and innovation in this industry, Myers has continued to push the national association forward.
In a recent interview with Real Estate Magazine (REM), Myers discussed her new role, opportunities facing the industry, and why she believes we are stronger together. Below is a brief overview of that conversation.
To watch the entire interview, click the video below.
The first 100 days, and CREA’s three strategic pillars
Before joining CREA, Myers was the CEO of the Ottawa Real Estate Board and had served as the Executive Director of the Okanagan Mainline Real Estate Board. While she’s not new to the industry, Myers understands her new role encompasses the entire country, and more than 160,000 REALTORS®.
“My first 100 days have been focused on listening and learning,” she explains. “I’ve embarked on a listening tour, meeting with colleagues across the country, both virtually and in person, to understand their challenges and opportunities.”
Myers explains, as she continues in her role, she’ll focus on CREA’s three strategic pillars:
- Advocacy: being a representative on behalf of REALTORS® and the industry at the federal level.
- Reputation: promoting the value of REALTORS® with consumers.
- Technology: ensuring technology, including REALTOR.ca, continues to meet the evolving needs of REALTORS® and consumers.
Promoting REALTOR® value
Just as REALTORS® should be proud of their work, Myers reiterates CREA takes pride in elevating the reputation and voices of REALTORS® on a national stage to consumers and government alike. “REALTORS® are such valuable community builders, they work so hard for their clients and their clients love them for it,” says Myers.
It’s CREA’s goal to ensure everyone understands how valuable REALTORS® are to the communities they live and work in.
Future of REALTOR.ca
Over the last year, CREA has been in consultation with the REALTOR® association community on a proposal to turn REALTOR.ca into a taxable, separate, wholly owned subsidiary of CREA.
For Myers, the path forward is clear, “there is no privatization happening with REALTOR.ca. REALTOR.ca will remain completely owned by CREA, and REALTORS® will continue to own it through their membership in CREA.”
Solidified by the REALTOR.ca Task Force and CREA’s Board of Directors, there are three guiding principles for REALTOR.ca as a taxable entity:
- Ownership: REALTOR.ca will remain wholly owned by CREA, ensuring that REALTORS® retain ownership through their membership.
- Governance: the new company will have its own skills-based board made up of diverse, experienced, and independent directors, allowing for greater operational flexibility.
- Revenue reinvestment: all new company net income would be reinvested back in the platform to help achieve self-sufficiency and allow for a gradual reduction in dependence on CREA funding from member dues.
“Our goal is to keep REALTOR.ca as the premier consumer portal in Canada, owned and operated by the industry for the industry,” she said. “By giving it the independence to innovate and compete, we’re ensuring it continues to serve the needs of consumers and REALTORS® effectively. This is about building a sustainable future where our platform can grow and adapt alongside the industry.”
To learn more about the future of REALTOR.ca and read the draft business case for REALTOR.ca as a taxable entity, visit CREA.ca/REALTORinc.
The REALTOR® Cooperation Policy
Myers also provided clarity on the REALTOR® Cooperation Policy, which came into effect in January.
“The primary driver for the policy is consumer demand for transparency,” she said. “We’ve seen a growing call from buyers and sellers alike for more openness in the real estate process. This policy is a response to those demands.”
The policy seeks to reinforce the value of MLS® Systems and the importance of cooperation as a key component of Canada’s real estate industry.
Myers continued, “We understand there are scenarios where exclusive listings can serve a purpose, however, the policy doesn’t eliminate the possibility of exclusives. It simply ensures that once you start publicly marketing a property, it gets the broad exposure that only the MLS® Systems can provide.”
For REALTORS® navigating this new policy, Myers advised open communication with clients. “It’s crucial to have honest conversations with your clients about their options and the benefits of exposure on MLS® Systems. REALTORS® have an ethical duty to act in their clients’ best interests, and this policy supports that by promoting transparency and competition.”
What’s next?
Myers will be continuing her listening tour into 2024 to hear from REALTORS® and boards/associations across the country.
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