investing in the success of ontario - orea – new orea ... · ontario real estate association...

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Investing in the Success of OntarioREALTORS®

NEW OREA MEMBER SERVICES CONSULTATION

DECEMBER 2019

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“The real estate industry is changing in exciting ways every day...

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.

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...and the Ontario Real Estate Association (OREA) is no exception. We are pleased to share this consultation document with you – our Members – to get your feedback on a range of exciting new services to make life better for you.

Thanks to strong fi nancial management, prudent cost cutting, and enhanced activity at the OREA Real Estate College (the “College”), OREA is projecting an unanticipated surplus in 2019 which we estimate would allow us to invest between $10-15 million in new services for you.

To get the best advice, we reached out to nearly 250 real estate leaders, canvassed the membership, and conducted in-depth research on the feasibility of several bold, innovative ideas. The ideas originated with you in mind, and the implementation of those ideas will be decided by the OREA Board of Directors with your input.

This discussion paper focuses in on four new, bold ideas that have been distilled from the results of our feasibility analysis and discussions. To get your feedback on these ideas, we have launched the most ambitious consultation with our membership in OREA’s history.

You will be able to provide feedback through a number of upcoming OREA events - like Peak Leadership and the Annual General Meeting - or through www.newOREAservices.com and by writing directly to [email protected].

We will use your feedback to refi ne our ideas and to assist the Board in making its fi nal decisions on which new, high quality services to provide to you and to Member Boards across the province. This is an incredible opportunity to be ableto invest in sustainable long-term benefi ts for our Members and we look forward to hearing from you.

Sincerely,

Karen Cox, President Tim Hudak, CEOOntario Real Estate Association Ontario Real Estate Association

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IntroductionSince its inception in 1922, OREA has been supporting its Members as they help home buyers achieve the Canadian dream of home ownership. 1 In its nearly 100 years, OREA has seen the real estate profession in Ontario grow rapidly to one that contains 38 real estate boards representing 78,000 REALTORS®. 2

During this time, change has been a constant for REALTORS®, and OREA has not been immune to change itself. Recently, the industry’s regulator – the Real Estate Council of Ontario (RECO) – designated Humber College and NIIT Canada to provide the required registration education courses to trade in real estate in Ontario. As a result, OREA will no longer be operating its College beyond December 31, 2020.

In order to proactively adapt to the changes precipitated by the loss of the College, OREA developed and implemented its first ever five-year strategic plan. Under that plan, the Association laid out a set of goals and principles, including maintaining strong government relations, growing the organization’s public profile, and becoming a nimbler organization. This strategy was designed to put OREA in a better long-term position to benefit its Members and help them succeed in building stronger communities.

Since the release of that plan in July 2017, OREA has been cutting costs, creating a stronger financial management culture within the organization, and re-imagining how it will continue to create value for Individual Members and Member Boards. OREA’s focus on its financial future, and the unanticipated 2019 surplus, positions OREA to invest between $10-15 million in new services for its Individual Members and Member Boards. More information on the proposed investments in new services for Individual Members and Member Boards will be presented at the OREA AGM in February 2020.

OREA’s Board and management team have been working together to re-imagine OREA and the breadth and depth of services that it provides to Individual Members and Member Boards. This work has been conducted in three stages: an ideas generation stage, a feasibility stage, and a broad-based Individual Member and Member Board consultation stage.

1 https://www.orea.com/~/media/Files/Downloads/2017/OREA-Strat-Plan-2017-2021.pdf?la=en2 Ibid

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In the idea generation stage, the OREA Board and senior management team generated a shortlist of nine bold new ideas. These ideas were inspired by Member Board visits, OREA Past President meetings, secondary research, stakeholder discussions, and OREA all-staff sessions.

The nine bold new ideas were then subjected to a comprehensive feasibility study that involved in-depth research, more than 250 different stakeholder interviews, and an assessment against well-defined and considered criteria that included:

Value proposition;

Core business alignment;

Stakeholder and Member feedback;

Competitive scan (industry impact, competitive analysis, and OREA market positioning);

Financial feasibility;

Return on investment to OREA, the industry Members and Member Boards; and

Requirements for success.

The more than 250 stakeholder interviews and discussions included current brokers, past OREA presidents, local REALTOR® board members, regulators, and other industry leaders. In addition, the OREA membership was provided with an online survey to provide quick feedback to the ideas. These interviews generated many additional ideas for consideration, and several were subject to deeper feasibility analysis and evaluation by the OREA Board.

Ultimately, the OREA Board landed on four bold new ideas to take to Members and Member Boards through the most ambitious consultation in OREA’s history:

1. On the Ground Advocacy: Becoming the Best Advocacy Group in Ontario

2. Serving Commercial Members Better

3. Supporting REALTOR® Professionalism through Education

4. Support for Increased Member Access to MLS System® Data

Each idea is explained in detail below including a description of the idea, its potential value to Individual Members and Member Boards, approximate costs, and key implementation considerations. Additional information on other ideas that did not make it through to consultation can be found in the Appendix.

Through the consultation process, OREA Individual Members and Member Boards will be provided with an opportunity to provide feedback on which ideas OREA should pursue through a broad range of online channels, events, and other feedback mechanisms. This consultation will help OREA get it right and strengthen its contribution to the success of REALTORS® in an ever-changing real estate industry.

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Idea 1: On the Ground Advocacy: Becoming the Best Advocacy Group in Ontario

The Opportunity

Government advocacy has long been a function performed by OREA and is considered one of its strongest service offerings. Over the years, OREA has fought to protect the dream of home ownership and the strong business environment for REALTORS® in many different ways.

Some recent notable wins have included stopping the Municipal Land Transfer Tax from spreading and allowing for electronic signatures on real estate documents.

More recently, OREA led the charge at Queen’s Park in convincing the province to bring forward the More Homes, More Choice Act, 2019 – the most pro-home ownership legislation in a generation. In addition, after two years of lobbying, OREA convinced the Government to modernize the Real Estate & Business Brokers Act, 2002 (“REBBA”). The introduction of the Trust in Real Estate Services Act, 2019 is an historic achievement for OREA that will raise the bar of professionalism, better protect consumers, and give REALTORS® modern business tools like personal real estate corporations.

Despite these successes, government advocacy is changing. The municipal level of government has increasingly gotten stronger and bolder. In recent memory, municipal leaders have pushed for new municipal taxes on housing, changes to zoning and development planning, and potentially into previously unforeseen areas of REALTOR® regulation.

Worse yet, these municipal policies tend to spread quickly across the province. For example, if one municipality successfully bans signs for open houses or charges a REALTOR® licensing fee in its jurisdiction, what would stop the neighbouring city from doing the same thing? Now, more than ever, REALTORS® need a strong voice in every corner of our province.

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The New, Bold Idea

Therefore, OREA is considering expanding its government relations and advocacy function to include regional expertise, starting with four new regional government relations professionals and expanding the function in the future based on demand. These government relations professionals would work in concert with local Member Boards to implement a full suite of government advocacy services that strengthen the REALTORS®’ voice and influence in local and regional policy making.

This suite of services would include:

z Government relations strategy development and implementation

z Building a local army of REALTOR® grassroots advocates

z Advocacy positioning and messaging

z Fighting back against municipal government overreach

z Advocacy campaign development and execution

Developing and maintaining relationships with 444 municipal councils and mayors on top of the 124 MPPs from four different parties requires a critical re-think and a new financial investment in the profession’s government relations and advocacy capacity.

To be clear, OREA is not proposing to replace the relationship local Member Boards have with their community leaders. Instead, OREA is proposing additional supports to help local Member Boards develop more policy expertise and have greater resources to draw on when advocating for their local REALTORS®.

The Value

By focusing on both provincial and municipal issues, OREA will be an advocate for REALTOR® issues from the beginning to the end of Ontario’s political decision-making process. Strong local relationships will help prevent poorly thought out policy decisions from being implemented and, better yet, ensure pro-REALTOR® decisions are the default position of mayors and councilors across the province.

PR

OV

INC

IAL

REG

ION

AL

OREA GR Team Leader

GR REP 1 GR REP 2 GR REP 3 GR REP 4

NOTE: some have commercial divisions

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Case Study3

New York State Association of REALTORS® (NYSAR) Government Affairs Department

NYSAR’s Government Affairs Team works to promote REALTORS®’ perspectives in public policy development at the municipal level in addition to their state level work. They have more than seven staff members who work with local Member Boards to promote the REALTOR® value proposition at the municipal level. Their work targets municipalities of all shapes and sizes, from places like New York City and Albany to smaller towns like Kingston, Newburgh, and Beacon. Their work ensures that local councils understand the importance of REALTORS® and the impact their decisions have on the local real estate industry. Specifically, these lobbying and education efforts have ranged from helping shape the definition of independent contractors to exempt real estate agents to successfully getting local councils to study regional housing vacancy.

Implementation Considerations

It is no secret that policies needed to deal with condo sales are very different from policies needed to deal with cottages or farmland properties. By having local representation, OREA can ensure it builds an even greater level of local expertise and ensure that local expertise is reflected in its government advocacy work.

For smaller Member Boards, this new level of personalized service can be a high value add, offering services that are not otherwise available. For some of the province’s larger Member Boards, they may already have strong relationships with local governments that could be bolstered by new government relations staff.

It is important to note that new staff would not be seeking to replace high functioning Member Board operations, but rather complement them further with additional support. Ultimately, the goal is to help every Member Board achieve a high level of success and functionality.

To support these new four government relations professionals, the government advocacy budget would need to grow by approximately $750,000 annually.

If approved, the expansion of this department could take approximately 6 months to a year. OREA will need to develop a new level of municipal expertise on issues such as lobbying compliance, as well as hire and train new staff, and determine scope and a level of understanding with local Member Boards about the role of the new government relations professionals.

3 https://www.nysar.com/government-affairs

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Idea 2: Serving Commercial Members Better

The Opportunity

Commercial real estate and residential real estate are very different. Despite the differences, services for commercial real estate professionals are often fragmented. The lack of a single commercially focused organization means commercial issues often fall by the wayside compared to the concerns of the much larger residential membership. REALTORS® who focus on commercial real estate require special knowledge, training, resources, and access to different networks and data platforms.

The New, Bold Idea

OREA is proposing to create a Commercial Overlay Board (COB) that would focus services for commercial members in one provincial organization. In addition, OREA is proposing that the COB would house commercial real estate property information and make it available to commercial-focused REALTORS® across Ontario.

It should be noted that this idea comes with many complexities that will require further research, including the structure of the COB, commercial property data and information requirements, and corresponding costs and funding approaches – among other items. Therefore, as part of this ambitious consultation process, OREA will be using its Commercial Committee’s expertise to study and make recommendations on how best to establish a COB that creates value and is sustainable over the long-term. This Committee will be focused on specifically engaging Member Boards with Commercial Divisions, commercial REALTORS®, and commercial brokerages to involve them in the design of a COB.

At a high level, OREA would provide seed funding to allow the creation of a self-sustaining COB, including seeding the acquisition or development of a Commercial Information

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Exchange (CIE). The COB would have its own membership that would then pay a membership fee. Commercial REALTORS® who join the COB would also continue to have the option of being members of their local Member Board.

The Value

The primary service the COB would pursue would be the creation of an embedded CIE. The Board would explore contracting a third party to provide verifiable province-wide commercial property information. For example, American COBs provide commercial property listings that contain information such as demographic info, plat maps, and census data.

The COB will perform multiple functions to help standardize rules and create policy equivalency across different jurisdictions. The board can also determine any further education or skills development courses that commercial REALTORS® specifically may need to stay up to date.

Beyond this core mandate, the COB could also evolve over time to provide other services. These could include creating a code of ethics and professional standards or creating special branding opportunities for commercial REALTORS®. These additional services – like those provided by the COB counterparts in the U.S. – could also include commercial REALTOR® networking and additional committees to tackle specific problems like needed legislative changes.

OREA

ONTARIO COMMERCIAL COUNCIL (“OCC”)

OREA’s OCC could serve as interim Board of directors of the COB

Member Boards NOTE: some have commercial divisions

CREA Commercial Overlay Board Potential representation includes “Regions” / Member Boards

with significant commercial transactions

Commercial Information Exchange

Other Databases Other CIEs

COMMERCIAL OFFERING

Fees are dependent on whether commercial REALTORS® choose to remain Members of the residential Association

OREA provides funding to allow the

creation of a self sustaining COB

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Case Study 4

Commercial Overlay Board (COB) – National Association of REALTORS® (NAR)

COBs are a popular model in the U.S. Since 1992, the NAR has been responsible for reviewing and approving applications for COBs from collective regions and/or states, and it has clear guidelines, processes, and requirements in place for setting up a COB. The benefits of a COB include: (1) retention of commercial Members; (2) networking events; and (3) education program credits. Each COB typically has an Executive Officer and Coordinator, and committees on topics such as Membership and Commercial Information Services. The COB structure has helped support and grow commercial real estate and provide better services to commercial REALTORS®.

The NAR also established a Commercial Information Exchange (CIE), which connects retained commercial sellers and buyers and on a single platform and provides information and access to listings information. This system is not an MLS® system as there are no offers of cooperation and any compensation agreements are made outside the system. Commercial agents need to agree to rules and regulations and pay a fee to gain access to the system. Local associations accessible to a COB have the right to determine what parameters exist regarding access to the CIE for Members who focus on commercial properties.


OREA acknowledges that for smaller Member Boards that have few commercial REALTORS® this would not result in a significant revenue change. However, for Member Boards that have a significant commercial presence, this could result in significant revenue changes. The Committee will be asked to fully assess the potential impact and mitigations for larger Member Boards.

With respect to the CIE, once the COB determines its property information requirements, it will need to determine the cost of providing this service. OREA would instruct the Committee to evaluate the costs of various third-party providers and other potential delivery options and weigh those costs with the expected demand and usage from commercial-focused REALTORS® across Ontario. The Committee would also be instructed to investigate the prospect of private sector participation in such a project.

Lastly, the Committee will opine on regional considerations that will need to be factored into the composition of the COB itself to ensure it represents commercial REALTORS® in every corner of the province.

4 https://www.nar.realtor/ae/manage-your-association/commercial-resources-for-associations/forming-a-commercial-overlay-board-or-structure

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Idea 3: Supporting REALTOR® Professionalism through Education

The Opportunity

Personal and professional growth and raising the overall level of professionalism of the industry are concerns that Ontario REALTORS® regularly raise with OREA leadership. Even with the loss of the College, OREA Members and stakeholders are very supportive of OREA providing continuing education courses to improve the knowledge, expertise, and professionalism of Ontario REALTORS®. Through the more than 250 interviews and discussions held by OREA during the feasibility stage, continuing education was consistently identified as an industry need.

The New, Bold Idea

OREA is considering the creation of a continuing education service offering to Individual Members and Member Boards. Continuing education, and the support and desire for it, is like the support and desire for “mom and apple pie.” However, continuing education can be a difficult sell as busy schedules can overtake even the sincerest of intent to take additional courses. That is why OREA is proposing to enter the continuing education space cautiously by first focusing on its key strengths, which are standard forms and leadership development. These initial programs would be developed and delivered in-house by OREA and would be entirely voluntary. Courses would be offered both in person and online.

Should the courses prove successful and helpful, OREA may expand its continuing education offering to include other topic and subject areas. To expand the continuing education offering over time, OREA will consider partnering with other established institutions, such as the Real Estate Institute of Canada (“REIC”), to develop and deliver program content and credentials.

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Another potential component of the continuing education offering would be a Speaker’s Bureau service. This offering would see OREA create a list of pre-vetted speakers who would be available to attend various local Member Board events for a fee paid by the local Member Board. These speakers would be experts in their field and offer a new tool for Member Boards to inform and educate their membership about new and emerging challenges in the real estate industry. Together with the expansion of continuing education courses, these two offerings could significantly increase the professional standards in the industry.

The Value

Continuing education is intended to be a high value offering to individual REALTORS® and to the entire real estate industry. The industry and individual REALTORS® will benefit through the increased professionalization and commitment to high standards, best practices, and up-to-date real estate knowledge that would be taught in these courses. This is especially timely as the Ontario Government’s new real estate legislation, The Trust in Real Estate Services Act, is targeted at improving professionalism in the real estate industry.

Creating more professional and well-informed REALTORS® should increase consumer confidence, making Ontarians more likely to value REALTORS® in the future and to continue using their services.

Case Studies 5,6

British Columbia Real Estate Association (BCREA) Real Estate Education

BCREA is expanding their real estate education through the updating of its Professional Development Program (PDP) for its REALTORS®. These courses will be offered both in-person and online for two categories: accredited and self-directed – which are aligned with their two-year regulatory licensing cycle for REALTORS®.

The courses include resources on real estate business management, specialty markets (i.e. condominiums), and contract bootcamps. The goal for the upcoming changes to the PDP system is to give REALTORS® more flexibility and support in their professional skills enhancement and development. By combining a systems approach and flexibility of resources, continuing

OREA CONTINUING EDUCATION

PHASE 1

REALTORS®

Standard Forms

100 sessions per year

3 New Courses

Leadership Development

20 sessions per year

3 New Courses

Speaker’s Bureau Build relationships

with Member Boards by creating a roster

of speakers for their events

CE Courses (potential partnerships with REIC)

Courses / designations through REIC partnerships

Less costly and more likely to succeed than internalizing

QUICK WIN POTENTIAL PHASE 2

5 https://www.bcrea.bc.ca/education/education/6 https://albertarealtor.ca/page/mandatory-course

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education is being made more accessible to REALTORS® and ensuring even higher professional standards.

Alberta Real Estate Association (AREA) Real Estate Education

Other associations in Canada have partnered with third-party companies and institutions to provide real estate education. For example, AREA has partnered with the Southern Alberta Institute of Technology (SAIT) to offer a selection of 12 courses focused on leadership in real estate for brokers and associates. These courses are intended to improve education and provide professional development opportunities for REALTORS® by leveraging the infrastructure and competencies of qualified external providers already established in the real estate education space.


Though it may make sense for OREA to provide the first few offerings, scheduling and organizing dozens of course offerings would be an administrative and costly challenge for OREA if courses are expanded further. In that case, OREA could market the courses to Members, provide administrative assistance, and review the subject matter. A third party, be it REIC or another group, could provide the physical instruction. The effectiveness and enrollment of each course would be reviewed regularly and adjusted to meet the changing needs of REALTORS®.

In terms of challenges, OREA foresees potential enrollment concerns with voluntary courses. In addition, some of these courses may conflict with offerings already provided by local Member Boards or individual brokerages. OREA wants to coordinate continuing education efforts with Member Boards to deliver the best content at the best value. Additionally, consideration for the courses offered by Humber and NIIT would need to be made, although the standard forms and leadership development are strong core competencies for OREA.

The proposal is financially feasible as early estimates show it could cost approximately $700,000 to set up and deliver the first two courses, followed by additional costs for the delivery of each new class. Ultimately, REALTORS® would pay to participate in the courses and, except for minor startup costs, the program would be designed to be financially self-sufficient.

Should this idea be pursued, OREA would need time to develop course offerings and begin to offer these services around the province. OREA anticipates that this course development and scheduling would take approximately 6 to 12 months. After that, courses would begin to be offered to REALTORS®. Other course offerings could be developed concurrently, with new courses released on a regular basis, depending on partnership opportunities with other organizations like REIC.

The Speaker’s Bureau could be started relatively quickly. In conjunction with local Member Boards, OREA would need to determine a roster of topical speakers to make available for Member Boards to hire. A fee structure for these speakers would need to be created however, this could be done in a relatively quick timeline and be rolled out across the province in the short to medium term.

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Idea 4: Support for Increased Member Access to MLS System® Data

The Opportunity

Data is the new oil. Data is the essential lifeblood for the real estate professional. In re-imaging OREA’s service offerings, a consistent request heard from Members is the need to be able to access MLS® information from anywhere in the province.

OREA recognizes that many Member Boards have been working to create platforms where MLS® data can be shared and accessed by Members. OREA applauds these efforts and wants to support Member Boards in making universal access to MLS® data a reality – a reality that is driven by the Member Boards themselves.

OREA has no desire to create a provincial MLS®. Full stop.

However, it is willing to play a constructive, facilitative role in helping Member Boards achieve universal MLS® access for Ontario’s REALTORS® through the provision of funding and/or resources to help local Member Boards transition.

The New, Bold Idea

This idea would involve OREA making financial resources available to fund facilitation services and contribute to technology investments that are critical to bringing Member Boards together to agree on policies, standards, and enabling infrastructure to share MLS® data. OREA would not invest or create its own process or technology. Any investment would be in existing, or expanded, Member Board initiatives to expand MLS® data sharing and access.

This funding would be particularly helpful for smaller Member Boards who may not have any reserve funds to explore these options and potential benefits despite wanting to do so. Some Member

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Boards may not need the resources, but by providing access to facilitative funding, they may be more willing, or better able, to pursue the change sooner – thereby benefitting more Members faster. Additionally, cost-sharing of technology investments to permit data sharing would be included for consideration as part of the offering.

Case Study7

California Association of REALTORS® (CAR)

Support for increased access to member data has been explored by associations throughout North America in recognition of the benefits to, and desires from, Members to have easy access to a platform that enables data access and connectivity. The CAR has worked to create a statewide data sharing service for its Members called the California Regional Multiple Listing Service (CRMLS). This system is the largest MLS® in the USA and is intended as a central system for REALTORS® throughout the state of California. Its company mission is to “deliver, through local Member Associations, the most affordable, reliable, and convenient listing technology service available, and to provide products and services that support REALTORS® in maximizing use of property data to achieve business goals.”

Associations and Boards can either leverage CRMLS completely for its access to listings, share and exchange data across MLS® systems, or provide access to CRMLS through a separate system and login along with access to its own MLS® system.

Additional services offered by the CRMLS, outside of the technology platform, include a listings compliance department, an exchange with Member Associations, access to public records, mapping and productivity tools, and educational and support services. The centralized system has helped to keep MLS® costs low and has allowed greater control and access to valuable and accurate data for REALTORS®.

The Value

There are several benefits related to REALTORS® on the ground – including the ease of movement if a REALTOR® moves from one part of the province to another and can still use the same data system they were previously familiar with. Other examples include if a REALTOR® is selling properties within the jurisdiction of different Member Boards at the same time. In this case, they would be able to operate seamlessly despite the physical difference in location.

Even further, better geographic data would enable Members to have better insights into how property sales trends in one area may be affecting sales in other areas of the province. A shared data catalogue would even improve the professionalism of the industry by avoiding the potential for a consumer to have access to information that their REALTOR® does not.

Though it may not be an easy objective to pursue, Ontario’s REALTORS® have been clear that they believe a shared data system is worth exploring. Therefore, OREA would rather help enable this system than pursue any attempt to force co-operation.

This change is a grass-roots initiative and OREA’s involvement would only intend to help expedite that process among willing participants.

7 https://go.crmls.org/about/; https://www.car.org/mlspro/statewidemls

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Despite the benefits raised by REALTORS®, there are still challenges to a harmonized data sharing system. First, this is an area of local Member Board jurisdiction. OREA does not wish to overstep into decisions that should be made by local Member Boards. However, those Member Boards that do wish to move to universal access through data sharing should not be precluded from doing so.

Operationally, OREA would need to gauge the level of acceptable involvement with Member Boards – partially through this consultation paper but also through direct conversation with the leadership at various Member Boards across the province.

OREA’s sole interest is in seeing a critical mass of, or all, Member Boards collaborating towards a data sharing regime. This funding should be considered a ‘no-strings attached’ funding with the understanding that Member Boards are moving towards an integrated system.

The cost of such an endeavor will be determined based on the parameters of the offering and the perspectives during this consultation. Given data systems and technologies are accessed via annual fees to REALTORS®, there would be no long-term costs as these fees would then be charged by the operators of any new system.

OREA Funding to Encourage Further Data Sharing

Facilitation: funding to support facilitation to get the critical mass of Member Boards towards data sharing initiatives.

Data Integration: funding towards data integration initiatives for the critical mass of Member Boards.

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ConclusionWe are at a watershed moment in the history of OREA and our profession.

Through strategic decision-making to focus on key priorities, OREA has the unique opportunity to invest in services to improve the business lives of Ontario REALTORS®.

Each idea presented in this consultation paper can achieve that goal. Each idea has its strengths and weaknesses.

However, on balance, OREA believes that each of these ideas creates new value for Individual Members and Member Boards and pushes the profession forward. That is why we want to hear from you, Ontario’s REALTORS® and Member Board Leaders, to help us shape and make the right decisions on new services that make sense and are sustainable over the long-term.

More specifically, OREA needs to understand any specific concerns or suggestions about each idea that is explored in this paper. These suggestions could include subtle tweaks to the ideas or large foundational changes. For example, they could be suggestions about the type of classes that could be offered under continuing education or they could speak to the number of additional government advocacy staff that are considered.

OREA’s primary purpose is to be there for its Individual Members and Member Boards. The best way for OREA to be able to achieve its mandate is for Members and Member Boards to provide direct feedback expressing their views on these topics.

OREA is looking forward to receiving feedback on the ideas described (and any additional ones you want to express). Responses to this paper may be submitted directly to [email protected] or by visiting our website www.newOREAservices.com.

Additionally, further discussion on this topic will take place at Peak Leadership and at the Annual General Meeting, with other opportunities for comment and/or feedback to be posted on the OREA website. OREA is also happy to visit any local Member Boards to participate in direct conversations and discussion. To coordinate this, a local Member Board may indicate their desire for a conversation to the OREA leadership via the website links above or through direct contact of any OREA leadership members.

Thank you for taking the time to read, evaluate, and consider the ideas within this consultation paper.

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Discussion QuestionsBelow are some questions to consider as you contemplate feedback on the four ideas discussed in this paper put forward for consultation.

Please submit responses and feedback to this paper directly to [email protected] or by visiting our website www.newOREAservices.com using the indicated questions as a starting point for commentary.

Which of the four ideas are the most impactful for you and your business?

How would you refine each of the four suggested ideas to make them work better for OREA’s members?

Do you think any of the four ideas listed should not be pursued further by OREA (answer multiple if applicable)?

Were there other ideas you would like OREA to consider beyond the four ideas and those listed in the Appendix?

1

3

4

2

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AppendixIn the idea generation stage, the OREA Board and senior management team collaborated to generate and shortlist nine bold, new ideas. These ideas were inspired by Member Board visits, past president meetings, secondary research, stakeholder discussions, and OREA all-staff sessions. The more than 250 stakeholder interviews and discussions generated many additional ideas for consideration and several were subject to deeper feasibility analysis and consideration by the OREA Board.

The nine original bold, new ideas and the additional ideas raised by Members through the interview process are presented below, along with the rationale for not including them in this discussion paper.

Legal Services Suite

Disciplinary Board

Negotiated Safety Net

Description:

This initiative explored access for Members to 1) a legal hotline for free legal information (not legal advice); and 2) discounted fees on legal advice once a lawyer is retained.

Description:

This initiative would have OREA establish a pool of REALTORS® with experience in dispute resolution, and the associated infrastructure, to be made available to Member Boards to conduct fair and independent disciplinary hearings.

Description:

This initiative would involve enhancing OREA’s existing comprehensive package of benefits and insurance, including dental, health, drug, and mental health counselling coverage, automatic benefits coverage, reduction in member rates, establishing a pension fund, and/or creating an OREA not-for-profit to be its own licensed insurance body.

Feasibility Highlights:

Legal information is currently provided by Legal Forum. Value of a Legal Hotline beyond what is available was unclear.


OREA currently provides information and guides to support Member Board activities with respect to the disciplinary process. This idea could be duplicative, confuse roles and responsibilities, and be administratively complicated to deliver.


The cost for the insurance and/or benefits was significant with no clear sense of the subscription volumes needed to drive down costs.

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Appendix Continued...

Real Estate as an Investment / REALTOR® Value Proposition

Think Tank

Supporting the Voluntary Amalgamation of Boards

Description:

This initiative would provide for the development of seminars and public marketing communications promoting real estate as a stable asset class for investment by individuals. This would include commercial properties, marketing campaigns, and communications. Through interviews, it was also proposed that OREA could have involvement in positioning the value proposition of REALTORS® to the public through marketing and communications.

Description:

This initiative would see the development of a fully funded think tank to create original research and analysis to inform high professional standards and practices, support OREA and Member Boards’ government advocacy, and generate new ideas for Members to grow their businesses.

Description:

This initiative looked at the potential role that OREA can play in providing funding to cover transition costs only (e.g. EO salary and staff severance, legacy costs, technology changes, and outside facilitators who could provide third-party guidance to the merging process for Member Boards) on a time-limited basis once an amalgamation has been agreed to. This funding would not cover internal costs associated with the amalgamation efforts.


REALTORS®, brokerages, and other advisors (e.g. financial advisors) provide real estate and/or investment advice in their own capacities.

There are already initiatives and campaigns in the industry that bolster REALTOR® Value Proposition.


OREA will be integrating the Think Tank concept into its current public policy and advocacy business.


While the consolidation of Member Boards was raised frequently by stakeholders as a bold idea worthy of consideration, this role would be out of scope for OREA and should be solely the responsibility of the Member Boards to coordinate.

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REALTOR® On-The-Job Toolkit

REALTOR® Community of Practice (CoP)

Description:

This initiative would leverage the buying power of OREA’s 78,000 REALTORS® to provide Members with access to a suite of free or discounted tools and services to support them in their day-to-day lives, such as INMAN, a Technology Helpline (e.g. TechHelpline), Animoto, Mailchimp, DocuSign, etc.

Description:

This initiative would be a centralized knowledge sharing community for all Members on specific topic areas of interest to provide a way for practitioners to share tips, best practices, ask questions, and support each other. The community would be similar to an enhanced, expert driven, and monitored/controlled Facebook group where Members can get accurate and up to date information on areas of concerns such as technology, real estate market trends, standard forms, etc.


Many brokerages and Member Boards already offer their Members access to these tools today, increasing the risk of an overlap in service offerings.


The Facebook group leveraged by Members today already serves the needs of the Members and helps connect them with other REALTORS® in Ontario for help and advice.

There were many additional ideas proposed during the interview stage not listed here; while some were deemed to be out of scope for OREA, other ideas brought forward will be implemented outside of this consultation phase to help support OREA’s Members.

Appendix Continued...Appendix Continued...

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Mail To:

OREA Public Affairs Department99 Duncan Mill RoadDon Mills, ONM3B 1Z2

Notes

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