Editor’s note: REM reached out to MREB for more information on the SGM and outcome. We’ll update this article as we hear back and learn more.
On January 31 this year, Mississauga Real Estate Board (MREB) members voted to amalgamate with the Realtors Association of Hamilton-Burlington (RAHB), the Waterloo Region Association of Realtors (WRAR) and the Simcoe & District Real Estate Board (SDREB) to become Cornerstone Association of Realtors on July 1, 2024.
However, due to large concerns, last month, some MREB members, with the support of several past presidents of MREB, requested the board call a members-only special general meeting (SGM) to rescind the vote to amalgamate.
The request was granted, and a meeting was held on June 26.
‘Consensus was unanimous … It’s all about MLS data and access. That’s what we need as working realtors’
“An overwhelming majority of the membership was in the room, and the membership’s consensus was unanimous,” Tehreem Kamal, broker with Royal LePage Real Estate Services Ltd., Brokerage, reports about rescinding the vote to amalgamate.
Kamal notes there were more members present than at the earlier SGM in January, where the amalgamation was voted in favour. “However,” she points out, “As cited before, the landscape was different and things have changed rapidly.”
Kamal also highlights that a key factor swaying the vote transpired over the past two weeks: “The Oakville, Milton and District Real Estate Board (OMDREB) decided they would be leaving ITSO (Information Technology Systems Ontario) once their contract comes to an end, and joining Cornerstone wouldn’t be an option.
Basically, it’s all about MLS data and access to data, because that’s what we need as working realtors.”
OMDREB’s decision
Initially, the proposed amalgamation had MREB and other Ontario boards being part of one board and one MLS system: ITSO’s Matrix. MREB, OMDREB, London and St. Thomas Association of Realtors (LSTAR), Niagara Association of Realtors (NAR) and WRAR all use this system.
Kamal explains that OMDREB’s decision plays a key role as there’s a lot of business crossover from Mississauga to Oakville and vice versa, and that Canadian Real Estate Association (CREA) statistics support this.
About the upcoming change for OMDREB, Anthony Danko, OMDREB president, says:
“Realtors can see for themselves how fast things are changing in organized real estate. Local boards are amalgamating, how we access and receive our MLS data is changing and, perhaps most importantly, the push for province-wide data is becoming stronger than ever.
OMDREB’s goal has always been to ensure our members have access to the most comprehensive data set possible, culminating in one province-wide MLS. Additionally, reviewing and considering your options when contracts approach renewal is good business practice. Knowing that the ITSO contract was approaching renewal, OMDREB’s board of directors did its due diligence by exploring all avenues to provide our members with the best data set possible.
Based on our extensive consultations and the feedback we received from members, along with the fact that it holds nearly all of the data within our jurisdiction, OMDREB decided to move forward with using PropTx as our MLS services provider, which will happen later this year.”
The MREB membership directed its board of directors to immediately stop the process, terminate the amalgamation and, if there’s any need, seek an injunction.
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