Real Estate BoardA non-profit Lyrics

Real Estate Boards

Primary responsibility is contact with individual members of their board.
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Membership processing, recording, and dues collection.
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Forward provincial and CREA dues to respective a__ociations.
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Arbitration between brokerage firms.
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Multiple Listing Service.
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MLS (rules and regulations compatible with provincial a__ociation guidelines).
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Operations, facilities, promotion, and statistics.
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Trademark compliance a__istance, jointly with provinces and CREA.
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Establish board corporate jurisdictions, jointly with provinces and CREA.
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Enforcement of the CREA Code of Ethics.
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Industry representation on local government relations.
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Delivery of continuing education and new member orientation.
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Member products and services best delivered by the local board.
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Social and community service programs.

Real Estate Board

A non-profit corporation operating in a town, city, township, administration district, county or any combination of such for the benefit of its members as set out in the objects of the corporation.

Real Estate Board Fees

Most boards and a__ociations charge membership fees that are subject to GST/HST. Where membership fees in real estate boards and a__ociations and most other special fees are subject to tax, the members are normally entitled to claim input tax credits or rebates for GST/HST payable on these fees.

Real Estate Board Requirements

Real estate boards also require that a sign placed on a property listed through the MLS system have a form of MLS identification (e.g., MLS sticker) as authorized by the board. This requirement is normally set out in the local MLS rules and regulations.
Provincial

See applicable reference materials for regulatory controls affecting for sale signs and other types of advertising.

Real Estate Boards

The Code of Ethics binds members of individual real estate boards through the members' affiliation with CREA. Further, based on by-laws, the board empowers specific committees to oversee the activities of its members, using the Code as a benchmark for deliberations. MLS® rules and regulations of a local board often flow directly from the Standards of Business Practice. The Code specifically requires that the REALTOR shall observe the by-laws, rules, and regulations established by the REALTOR's real estate board and/or a__ociation.

Real Estate Boards, Provincial a__ociations, and CREA

The three-way relationship between real estate boards, provincial a__ociations, and The Canadian Real Estate a__ociation is generally described based on four roles involving MLS, Code of Ethics and Standards of Business Practice, Use of REALTOR, and Education/Special Services.

MLS

The MLS logo and Multiple Listing Service are owned by The Canadian Real Estate a__ociation and through licence are provided to real estate boards for their use. The first real estate boards were real estate exchanges where individual members would gather on a specific day of the week to exchange information about properties offered and to trade real estate on behalf of principals.

The concept of sharing information is still continued today in many small boards where listings are reviewed on an appointed day of the week. The term multiple listing was in use in the United States at the turn of the 20th century. As previously referenced, the term Co-operative Listing Service was initially used in Canada. The Co-op began in 1950, with pictures added the following year. The Photo Co-op arrangement persisted until difficulties across provincial lines made it impractical to continue. As a result of certain legislative impasses, organized real estate moved toward the use of MLS.

The advantages of MLS are noteworthy:

Buyers and sellers receive the benefit of wider exposure in the marketplace, as opposed to limited, individual broker promotion.
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Sellers gain greater marketing access.
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Buyers enjoy expanded market selection.
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The needs of both buyer and seller are more easily addressed through the larger marketing system.
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Procedures are subject to rules and regulations as established by the boards.
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Communities have a central source for inventory, trends, and general market information.
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Centralized information ensures that clients, members, and the public are better informed.

The Multiple Listing Service can be described as a system for the orderly co-ordination and dissemination of listing information to members. MLS operates as follows:

The board regulates the day-to-day activities of the MLS service through rules and regulations that are incorporated by reference into the board by-law.
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The Canadian Real Estate a__ociation oversees the use of the logo and protects its position as owner of the trademark.
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The provincial a__ociation promotes the effective use of the service in keeping with the Code of Ethics and Standards of Business Practice.

The function of the provincial a__ociation is perhaps the least precise of all three and, in fact, is a gradually evolving function. Provincial a__ociations typically provide advice and clarification on issues and recommendations concerning MLS rules and regulations. This role involves the a__ociations in a variety of situations that are difficult to accurately quantify. For example, a provincial a__ociation may become involved in various legal aspects of the rules and regulations imposed by boards within their local jurisdictions. Further, an a__ociation may offer a__istance in the face of legislation affecting the MLS service from a provincial perspective and a__ist in establishing specific rules concerning co-operation between boards.

Code of Ethics and Standards of Business Practice

As a member of a local real estate board, real estate practitioners agree to abide by the Code of Ethics andStandards of Business Practice that are under the direct control of The Canadian Real Estate a__ociation.

Each board agrees to abide by these rules. In fact, the standards of business practice are the basis upon which actions of members are a__essed, should ethical disputes arise in day-to-day activities.

These standards are also the focal point in hearings initiated under powers granted the professional standards committee. Further, the standards represent a basic reference point when rules and regulations are enacted at the local board level that impact the public and the membership at large.

Use of REALTOR

The term REALTORand a__ociated logos are controlled by The Canadian Real Estate a__ociation. Traditionally, the term REALTORwithin Canada referred to a level of service offered to the public. At the national convention held in October 1987, this description was amended. Now, the term REALTORrefers to a person who is a member of CREA and is consistent with procedures currently in place in the United States, as the logo now used in Canada conforms with its US counterpart.

Education/Special Services