Stock photo (Canva)
During Wednesday’s annual general meeting, members of the Toronto Regional Real Estate Board rejected proposed bylaw changes that would have shifted decision-making powers from members to the board of directors, including control over membership dues.
Key changes included simplifying the bylaws, introducing semi-annual dues payments with a surcharge, and allowing the board to amend policies without member approval. Critics raised concerns about transparency and accountability, especially given financial pressures and declining membership numbers. Proponents argued for the changes to enhance operational efficiency.
Sources confirmed that the motion did not pass, with 393 in favor and 635 against.
Criticism of the Process, Not Intentions
Ken McLachlan, CEO Re/Max Hallmark, expressed disappointment with the outcome, emphasizing that the board’s intentions were in the right place. However, he criticized the execution of the process, calling for a revision of the proposal and a clearer presentation to members.
Prior to the vote, concerns were raised about the potential impact on accountability and transparency within the organization, which faced financial challenges and a decline in membership.
Last fall, members rejected a proposed dues increase for 2025, highlighting ongoing financial tensions within the organization.
Statement from TRREB
In a statement to Real Estate Magazine, TRREB CEO John DiMichele acknowledged the decision of members regarding the proposed bylaw amendments, emphasizing the organization’s commitment to listening to feedback and ensuring good governance.
Moving forward, TRREB plans to engage with members to guide future decisions while maintaining accountability and organizational health.
Calls for Broader Participation and Better Communication
McLachlan criticized the voting process for its limited participation, suggesting that a broader electronic vote could have yielded different results. He emphasized the need for improved communication and engagement with members in future decision-making processes.
Divided Membership and Lingering Distrust
Jeff Mount, a TRREB member, highlighted division and anger among members, calling for increased engagement to bridge the gap. He emphasized the importance of transparency and member involvement in decision-making processes.
Mount: “We Have a Spending Problem”
Mount expressed concerns about transparency and engagement in financial decisions, urging better communication with members to address financial challenges and justify necessary expenses.
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