On January 31, 2024, Mississauga Real Estate Board (MREB) members voted to amalgamate with the Realtors Association of Hamilton-Burlington (RAHB), Waterloo Region Association of Realtors (WRAR) and Simcoe District Real Estate Board (SDREB) to become the new Cornerstone Association of Realtors, which will launch on July 1, 2024.

Amalgamated board to become Ontario’s second-largest

The motion was approved at a special general meeting of MREB members and passed with a unanimous vote in favour of amalgamation. Through amalgamation, Cornerstone will become Ontario’s second-largest real estate board and Canada’s fourth-largest comprising nearly 9,000 realtors.

“I am delighted to announce that members of the Mississauga Real Estate Board resoundingly supported becoming Cornerstone, joining the realtors from Hamilton-Burlington, Waterloo Region and Simcoe in choosing a path forward that will magnify, solidify, and unify our individual strengths,” says MREB President, Rita Asadorian.

“The four foundational pillars of Cornerstone are now in place as we move forward to becoming a new association launching on July 1, 2024,” adds RAHB president, Nicolas von Bredow.

Stability, continuity and expanded services

Realtors will benefit from a robust and responsive MLS system, enhanced services, more quality tools and increased coordination while also capitalizing on economies of scale.

Cornerstone will maintain and strengthen the solid local relationships each founding board has developed with stakeholders in their local communities and leverage a more assertive and aligned voice for members provincially and nationally.

“By harnessing the power of collaboration, the new organization will strengthen and empower realtors with technology providers, consumers, government and other stakeholders,” says Christal Moura, president of WRAR.

Looking towards the future

As one organization, Cornerstone will better serve and represent realtors with its vision of establishing a new, more influential, capable and member-centric organization designed to meet the evolving needs of realtors and help them thrive in the marketplace.

Drew Hemsley, president of SDREB, says, “Together, we are embarking on an exciting new chapter of organized real estate in Ontario focused on reinforcing the value of local realtors. Our members should take pride in being part of this innovative partnership.”