OTHER REAL ESTATE RELATED ORGANIZATIONS

These organizations are member organizations, with membership being voluntary. These organizations do not participate in a formal way in the regulation of real estate services

Canadian Real Estate Association (CREA)

-national organization comprised of licensees and real estate boards across the country, as well as all of the provincial real estate associations

-primary mission is to represent its members at the federal level of government and to act as a watchdog on national legislation pertaining to the real estate industry.

-developed REALTOR® Code, which is a collection of rules of conduct that is voluntarily imposed by CREA on all its members

-all members, known as REALTORS®, must abide by the REALTOR® Code.

-REALTOR® Code:

1. Preamble: history and purpose

2. Code of Ethics: one-page document; golden rule: Do unto others as you would have them do unto you

3. Standards of Business Practice: 29 articles, with corresponding interpretations

British Columbia Real Estate Association (BCREA)

-represents the interests of its eight real estate member boards (organized by geographic area) and their more than 23,000 REALTORS® on all provincial issues, providing an extensive communications network, continuing education courses, standard forms, and government relations.

-develops and provides a variety of continuing professional education courses

-developed the Professional Development Program (PDP), a continuing education program required for membership in a real estate board.

-creates and publishes several newsletters

-produces a number of economics forecasts and presentations on topics such as housing and mortgage rate forecasts, and quarterly and yearly sales activities, etc

-Government Relations Committee: identifies emerging issues and recommends actions

Real Estate Boards

8 local ones:

• Association of Interior REALTORS®

• BC Northern Real Estate Board

• Chilliwack and District Real Estate Board

• Fraser Valley Real Estate Board

• Powell River Sunshine Coast Real Estate Board

• Real Estate Board of Greater Vancouver

• Vancouver Island Real Estate Board

• Victoria Real Estate Board

-Each real estate board is incorporated as a society under the Societies Act of British Columbia

-the objects of the real estate boards include:

• promotion and development of continuing professional education;

• enhancement of the reputation of the members of the real estate industry as professionals in the mind of the public;

• adoption and maintenance of the REALTOR® Code; and

• active participation in legislative changes affecting the real estate industry.

-manage listings of real estate through the Multiple Listing Service® (MLS®) (online, cooperative selling system operated by real estate boards and associations in Canada)

-a condition that any user of the MLS® be a member of that particular real estate board

-the funds collected by the real estate boards through the fees charged by each MLS® listing

-oversee the conduct of their licensed members and arbitrate disputes between members

-membership is necessary in order to access the MLS® system and use the REALTOR® trademark.

Real Estate Institute of British Columbia (REIBC)

-made up of members from a variety of sectors of the real estate industry.

-focused on advancing the standards of education and professional development of its members

-offers a professional designation, the “RI”

-appoints one of the Governors of the Real Estate Foundation.

Real Estate Institute of Canada (REIC)

-major national professional bodies for the real estate brokerage industry

-mission is to advance opportunities for persons involved in real estate through providing lifelong learning, maintaining a relevant resource centre, awarding professional designations, creating networking opportunities, and representing and promoting the real estate industry and profession.

-offers and grants a variety of designations, such as the FRI (Fellow of Real Estate Institute), the CLO (Certified Leasing Officer), the CPM (Certified Property Manager), the ARM (Accredited Residential Manager), the ACoM (Accredited Commercial Manager), and the CRP (Certified Reserve Planner) designations.

Related Organizations Serving the Real Estate Industry

-Appraisal Institute of Canada (AIC),

-the Building Owners and Managers Association (BOMA),

-the Canadian Home Builders Association (CHBA),

-the Professional Association of Managing Agents (PAMA),

-the Urban Development Institute (UDI),

-the Institute of Real Estate Management (IREM),

-the Canadian Mortgage Brokers Association – British Columbia (CMBA-BC), and

-Mortgage Professionals Canada