CREA Members Vote to Secure the Future of REALTOR.ca
Ottawa, ON October 23, 2024
At the Canadian Real Estate Association’s (CREA) 2024 Special General Meeting held earlier today, members voted in favour of a pivotal decision to transition REALTOR.ca into a wholly owned taxable subsidiary of CREA.
This decision marks a transformative moment for Canada’s No. 1 real estate platform. While consumers won’t see any immediate changes to their experience, the decision will help ensure REALTOR.ca is positioned for long-term growth and sustainability and able to continue delivering value to REALTORS® and consumers alike.
“This decision represents a forward-thinking approach that reflects the evolving needs of both REALTORS® and consumers. By transitioning REALTOR.ca into a wholly owned subsidiary, 100% owned by CREA, we’re unlocking new opportunities for innovation and growth while ensuring REALTORS® remain at the heart of the platform,” said Janice Myers, CREA CEO. “We’re excited about the future of REALTOR.ca and grateful for the trust and support of our members as we take this important step.”
REALTOR.ca, which commands 50% market share in Canada1, has been a trusted real estate resource for nearly 30 years. As a taxable entity, REALTOR.ca will be able to pursue new revenue streams not currently possible under CREA’s not-for-profit structure.
“Today’s vote is about securing the future of REALTOR.ca. Every day, REALTORS® proudly serve clients in every corner of the country. This decision will help ensure REALTOR.ca continues to meet the needs and expectations of today’s property owners, buyers, sellers, and renters,” says James Mabey, CREA Chair.
Quick facts:
- As a taxable subsidiary, REALTOR.ca will remain 100% owned by REALTORS® through their membership with CREA.
- As a taxable entity, REALTOR.ca will be able to pursue new revenue streams that are not currently possible under CREA’s not-for-profit structure.
- The long-term financial sustainability of the platform is a key benefit of the transition.
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About The Canadian Real Estate Association
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry associations. CREA works on behalf of more than 160,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers, and sellers, and maintain REALTOR.ca, Canada’s most prominent online property listings platform.
Media Contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association (CREA)
Tel.: 613-237-7111 or 613-884-1460
pleduc@CREA.ca
1Based on market share. Market share = web and mobile traffic to Canadian real estate websites on average per month, ComScore, 2023
CREA Members Vote to Secure the Future of REALTOR.ca
Ottawa, ON October 23, 2024
At the Canadian Real Estate Association’s (CREA) 2024 Special General Meeting held earlier today, members voted in favour of a pivotal decision to transition REALTOR.ca into a wholly owned taxable subsidiary of CREA.
This decision marks a transformative moment for Canada’s No. 1 real estate platform. While consumers won’t see any immediate changes to their experience, the decision will help ensure REALTOR.ca is positioned for long-term growth and sustainability and able to continue delivering value to REALTORS® and consumers alike.
“This decision represents a forward-thinking approach that reflects the evolving needs of both REALTORS® and consumers. By transitioning REALTOR.ca into a wholly owned subsidiary, 100% owned by CREA, we’re unlocking new opportunities for innovation and growth while ensuring REALTORS® remain at the heart of the platform,” said Janice Myers, CREA CEO. “We’re excited about the future of REALTOR.ca and grateful for the trust and support of our members as we take this important step.”
REALTOR.ca, which commands 50% market share in Canada1, has been a trusted real estate resource for nearly 30 years. As a taxable entity, REALTOR.ca will be able to pursue new revenue streams not currently possible under CREA’s not-for-profit structure.
“Today’s vote is about securing the future of REALTOR.ca. Every day, REALTORS® proudly serve clients in every corner of the country. This decision will help ensure REALTOR.ca continues to meet the needs and expectations of today’s property owners, buyers, sellers, and renters,” says James Mabey, CREA Chair.
Quick facts:
- As a taxable subsidiary, REALTOR.ca will remain 100% owned by REALTORS® through their membership with CREA.
- As a taxable entity, REALTOR.ca will be able to pursue new revenue streams that are not currently possible under CREA’s not-for-profit structure.
- The long-term financial sustainability of the platform is a key benefit of the transition.
– 30 –
About The Canadian Real Estate Association
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry associations. CREA works on behalf of more than 160,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers, and sellers, and maintain REALTOR.ca, Canada’s most prominent online property listings platform.
Media Contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association (CREA)
Tel.: 613-237-7111 or 613-884-1460
pleduc@CREA.ca
1Based on market share. Market share = web and mobile traffic to Canadian real estate websites on average per month, ComScore, 2023
