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TRREB members reject $60 membership fee hike for 2025

Editor’s note: This article has been updated to reflect additional information provided by TRREB after publication. Specifically, TRREB clarified that the proposed dues increase would help offset a $6.5-million decreases in revenue and was intended to address broader financial pressures rather than directly fund the PropTx platform.

 

Members of the Toronto Regional Real Estate Board (TRREB) have voted against a proposed $60 increase in membership dues for 2025, according to sources.

The decision followed a virtual vote during TRREB’s annual fall meeting on Wednesday morning.

In an email to members obtained by Real Estate Magazine, the proposed dues increase came alongside the launch of TRREB’s unified MLS database. In 2025, TRREB says its expanded PropTx platform will allow members to access a system that consolidates historic and active listings from most of Ontario’s real estate boards.

 

Proposed dues increase

 

TRREB outlined the rationale behind the proposed increase. The board cited significant financial pressures, including an 8 per cent membership decline at the start of 2024—the largest since 1991—largely attributed to Realtors no longer needing multiple memberships to access TRREB’s MLS data.

Additional challenges included a slowing pace of new member registrations, reduced revenue from interboard listings (projected at a loss of $500,000 annually), declining interest income and other factors related to a slower market.

TRREB President Jennifer Pearce later clarified that when combined, these factors represent a potential $6.5-million loss in revenue.

 

Fee increase would have generated $4.5-million for the TRREB

 

With a membership base of over 75,000, TRREB remains the largest real estate board in Canada. The proposed fee increase would have generated a $4.5-million for the organization.

 

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