At the Canadian Real Estate Association’s (CREA) 2024 Special General Meeting held on October 23, 2024, members of the REALTOR® association community voted in favour of transitioning REALTOR.ca into a separate, taxable, wholly owned subsidiary.
This decision marks a transformative moment for Canada’s No. 1 real estate platform, ensuring REALTOR.ca is positioned for long-term growth and sustainability and, most importantly, able to continue delivering value to REALTORS® and consumers alike.
As a taxable entity, REALTOR.ca will be able to pursue new revenue streams. Any new net income will then be reinvested back into the platform to help ensure REALTOR.ca continues to meet the needs and expectations of today’s property owners, buyers, sellers, and renters.
What’s next?
CREA has been prepping for the outcome of this vote, including work to lay the foundation for the establishment of the new entity while also exploring their next steps. In the coming weeks and months, that work will continue, with the first phase of the separation to happen in January 2025.
In the meantime, LSTAR encourages Members to read more at CREA.ca/REALTORinc.
