2016-12-09-President-News-Release

For the complete news release, click here.

For immediate release

Real Estate Board Amalgamation Does Not Pass Despite Member Support

Vancouver, BC – December 12, 2016. At Special General Meetings held at six real estate boards on Tuesday, more than 67% of REALTORS® voted yes to a proposal to amalgamate with the British Columbia Real Estate Association to form REALTORS® of BC.

However, while three of the boards voted in favour of amalgamation, three boards didn't reach the required voting threshold. Therefore, the proposal did not achieve critical mass to move forward. Here are the results from the participating boards:

  Vote Needed Vote Results
BC Northern Real Estate Board 75% 89%
Fraser Valley Real Estate Board 75% 63%
Kamloops and District Real Estate Association 75% 70%
Okanagan Mainline Real Estate Board 67% 56%
Real Estate Board of Greater Vancouver 67% 69%
South Okanagan Real Estate Board 75% 79%

"While we are disappointed with the outcome, it's clear that many REALTORS® supported this initiative," says Deanna Horn, President, British Columbia Real Estate Association. "Organized real estate is changing and we need to continue evolving to support our members, the profession and our customers. We want to work closely with all of our member boards on what the future could look like and how we can address the challenges we are collectively facing."

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BCREA is the professional association for over 20,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province's 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.

For more information, please contact:

Damian Stathonikos
Director of Communications and Public Affairs
Direct: 778.990.1320
Email: [email protected]

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