March eNewsletter 2025

Practically Speaking is a weekly blog that answers trending practice questions from Alberta REALTORS® from a practical perspective. 

 
Catch up on this past blog: 
What is a holdover period? 

CREA’s 2025 Annual General Meeting is scheduled for April 8, 2025. Members will vote on two financial motions. 

The first motion proposes a $75 special assessment for all members to help cover ongoing legal defence costs and boost the Legal Defence Program’s balance from $2 million to about $10 million. The second motion calls for an increase to the new member initiation fee — from $200 to $500 — the first change since 2006. If approved, this would take effect in June 2025 and apply only to new members and those rejoining after being away for more than 24 months. The funds would go toward rebuilding CREA’s contingency reserve. 

AREA's view is that CREA is not managing its finances effectively. The financial statements lack transparency, and there is limited clarity on how funds are spent. While CREA has stated it is reducing expenses, this is not reflected in the financial disclosures. 

AREA believes CREA has sufficient funds to support its legal defence obligations. Real estate is regulated at the provincial level, with different rules, regulations, and contracts in each province — so legal matters are usually dealt with provincially, not nationally. Supporting members in legal matters is a core responsibility of provincial and national associations, and existing membership dues should cover these functions. In Alberta, AREA is currently supporting local boards involved in commission-related lawsuits. 

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Do you know about the AREA Crown Lands program? 

Through a partnership with the Government of Alberta’s Ministry of Infrastructure, Alberta Infrastructure notifies AREA when Crown Lands properties become available. AREA then works to identify local listing REALTORS® via email and showcases these properties on the AREA website. This program helps ensure that Crown Lands listings are accessible to professionals in the industry, providing valuable opportunities for our members. Stay informed by keeping an eye on your email and visiting the AREA website for the latest listings!