The vote, involving approximately 1,400 realtors, is scheduled for Thursday.
The surveys for the Amalgamation Committee found:
- 73 per cent agreed that a strong regional or provincial board is essential to the provision and oversight of member services for New Brunswick realtors;
- 79 per cent said it will benefit organized real estate in the province;
- 76 per cent of the respondents believe a potential merger will be good for organized real estate in their local area;
- 65 per cent believe it will benefit their business directly; and
- 70 per cent were excited about the new opportunities resulting from a potential merger.
The five local boards that would merge to become one provincial board include the Real Estate Board of the Fredericton Area, Inc., Saint John Real Estate Board, Greater Moncton Realtors du Grand Moncton, Northern New Brunswick Real Estate Board and Valley Real Estate Board.
The benefits of amalgamation
Luke Moffett, executive officer for the Greater Moncton Realtors du Grand Moncton and executive officer of the Saint John Real Estate Board, said members have provided direction that they would like to have a vote on amalgamation.
“It’s been a trend in Canada for the last 10 or 15 years that boards have been merging,” said Moffett. “We’re one of the last provinces to kind of have the conversation.”
The benefits of amalgamation, according to Moffett, include creating a more unified MLS experience for both members and the public. Currently, each board has its own MLS rules, bylaws, and forms, leading to inconsistencies. By streamlining these processes, the province can establish consistency and provide enhanced services and value to its members.
“Each board has things that they do really, really well, and (we’re) trying to take the benefits from each board and create a strong board, a stronger voice for realtors and a stronger organizational structure.”
A committee consisting of directors from each board was formed to guide the amalgamation process. The committee aims to assess the benefits and consequences of merging. The official website lists the following benefits:
- Standardization of bylaws, governance, policies, and processes for members
- One MLS, common MLS rules and regulations, and standardized processes
- Improved strength of internal administration
- Ability to utilize potential economies of scale
- Bringing boards together in a single region for the good of the industry and a stronger realtor voice
- Elimination of duplications of processes, software, and administration
- Better communications capabilities, methods, and platforms
- Increase in value of the larger Association to the REALTOR®
- Increase in the quality of programs, products, and services
- Ability to move quickly on new opportunities and concepts
- Increased market data
- Improved experience for the public
Member concerns
While the amalgamation process has garnered substantial support, Moffett acknowledged that resistance exists due to anticipated changes. He emphasized that the best aspects of each board would be incorporated into the amalgamated entity, resulting in a strong organization that addresses concerns and serves the needs of all realtors.
“The process started with the president of each board exploring what their members felt first, or what the members wanted them to do. The board of directors didn’t take any position when this process was launched. They went out to the members. They did surveys. And they got a 34 per cent participation rate in the province.”
Michael Power, chair of the Amalgamation Governance Committee, shared that legal counsel was engaged to review the bylaws of each board. A simple majority will determine the decision for each board.
Power explained, “There are some pockets of resistance, but we got an independent survey company to put together the questions to ask about what people felt about it, what they thought we had to get right, what concerns they had, if any. There was a whole opportunity for write-ins.”
The committee acknowledges the remaining issues, such as concerns over lockboxes and fees from specific boards, and is actively working to address them. Open communication channels are being established to provide comprehensive information and clarity to realtors, ensuring that their decisions incorporate their specific concerns.
The voting process
The voting process will be conducted by an external firm, with each board holding a meeting on Jun. 22. Members will vote on amalgamation and the acceptance of consolidated bylaws. The voting will remain open for the entire day, and the results are expected to be announced on the same day.
Mario Toneguzzi is a contributing writer for REM. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He worked for 35 years at the Calgary Herald, covering sports, crime, politics, health, faith, city and breaking news, and business. He now works on his own as a freelance writer for several national publications and consultant in communications and media relations/training. Mario was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list.
Amalgamation sounds great when discussed but does it really solve problems? Look at communities that have amalgamated. They all have issues. One being lack of services, lack of money and increases in expenses (taxes) Why would that be different for an association? As for moving quickly, I would predict that this would not be the case. It would actually be slower moving with more obstacles. What is needed is agreements to share data seamlessly. Not amalgamation.