Yesterday, the Alberta Real Estate Association (AREA) announced a settlement to all outstanding and ongoing legal disputes with the Real Estate Council of Alberta (RECA). RECA’s board of directors has agreed to pay AREA $900,000.
A joint public statement highlights that the settlement is “expressly agreed to without any acknowledgement of liability. All parties have agreed to the terms of the arrangement to avoid the significant legal and administrative expenses which would otherwise be borne by RECA licensees and AREA members if those matters were to proceed through the courts.”
The statement continues to say that “the no-fault agreement also ends the claim by and against former RECA council member Robyn Moser as well as any concerns or claims that RECA contractually interfered with AREA.”
A significant step to a better future
A release notes that during the process, AREA was committed to upholding its members’ best interests while trying to maintain a constructive relationship with RECA. It goes on to say that AREA is “pleased that RECA has agreed to this settlement, thereby allowing both parties to put these matters to rest.”
The resolution is a significant step towards both organizations operating with mutual professionalism and respect. AREA thanks its members for their continued support and dedication throughout this process.
“I am pleased this $900,000 no-fault agreement resolves matters stemming from difficulties between RECA’s previous council and AREA,” adds RECA’s chair, Elan MacDonald. “RECA wanted to ensure we would move forward with the best interest of the industry in mind. I look forward to a constructive relationship as RECA pursues its mandate to protect consumers within a healthy self-regulating profession.”
David P. Brown, AREA chair, comments: “We are glad to put these contentious issues behind us and to focus on building a positive relationship with RECA in the interest of AREA’s members. We recognize and support RECA’s work, setting and enforcing rules for the real estate industry.”
Thank you for this article.
It prompts me to ask about ONTARIO … what/who Supervises/ Regulates/ Disciplines the Not-For-Profit-Corporations/Organizations? (TRREB & OREA are Not-For-Profits)
To what/whom might a member complain/ appeal/ seek help against a not-for-profit that allowed irregularities to transpire at their Annual Meetings and took important steps affecting their entire membership with very little consultation during the Lockdown(s) and subsequently?
So far my searching has drawn the answer “nobody is quite sure, since the 2011 revisions” and “maybe the Ontario Public Guardian & Trustee, but I don’t think they are equipped to handle it”.
Can any of the REM audience assist me with WHERE to proceed to get my issues addressed?
Good questions Robert C Ede!
Robert, there are ombudsman for banks that I have spoken to so that made me research more and they came up for lawyers & Law Society and I found a link where they were involved in advocating with TRREB for shorter time in LTB court disputes.
Here is a link from NAR with some Q&A it’s probably more for US not sure still research but these ombudsman’s step in disputes to make sure consumers are being treated fairly & ethically. Hope this is helpful info in some way. Cheers!
I put the link separately but REM did not post it. Why?
If you’re wondering who is at fault in this “no fault” agreement, one need only consider who is paying whom.
Exactly where did the money come from to pay AREA (members? fines?) and how will AREA spend the money. How will members benefit?
Robert… my Ontario knowledge is out of date….but back in the day ..I would of gone to what was called consumer and corporate affairs..I have been reading about all the nonsense going on in Ontario and I really feel for the Realtors…sounds like
a few people making massive decisions with Realtors monies.