Dear members,

Last month, the Canadian Real Estate Association (CREA) announced there would not be a vote on the future of REALTOR.ca as a wholly owned, for-profit subsidiary of CREA at their 2024 Open Forum and Annual General Meeting (AGM), taking place on April 16, 2024. Rather, during the Open Forum portion, CREA will conduct an engagement exercise to collect REALTOR® feedback on the work of the REALTOR.ca Task Force, who have been reviewing, analyzing, and making recommendations on the three components of the REALTOR.ca business case:

• Governance: by-laws, articles of incorporation, shareholder agreement, etc.
• Financial analysis: revenues, costs, risks, 10-year model, etc.
• Operating model: transition plan, shared services, proposed new model, etc.

The REALTOR.ca Task Force has completed its review of the proposed governance structure, details which were included in CREA’s 2024 AGM agenda package, issued on Friday, March 15.

Members are encouraged to review the executive summary and corresponding documents. These governance documents outline the structure which would ensure that REALTORS® remain 100% owners of REALTOR.ca via your membership with CREA.

As this work progresses, CREA remains committed to providing ample opportunity to receive, review and share your input, and is moving forward in the following stages:

• Consultation
  (March – June 2024)
  CREA will engage in a two-way conversation on components of the draft business case, starting with governance.
• Consideration
  (July - Fall 2024)
  Using 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 ahead of a vote on the future of REALTOR.ca.

This is just the beginning of CREA’s broader consultation process with the entire REALTOR® association community. Your contributions are invaluable, and we encourage you to collect and share your feedback. A set of Frequently Asked Questions has been made available at CREA.ca/REALTORinc and will be updated on an ongoing basis.

If you have any questions, please contact CREA’s Member Experience Centre by email at support@CREA.ca or by calling 1-888-237-7945.

Thank you for your attention to these matters, which serve the collective interests of all members.

Baldev S. Gill

Chief Executive Officer