TRREB encounters resistance from members regarding proposed bylaw amendments

Proposed bylaw changes at the Toronto Regional Real Estate Board have sparked internal dissent, potentially transferring key decision-making powers from members to the board of directors. These changes will be voted on at TRREB’s spring annual general meeting on May 14, raising concerns among some members about accountability and transparency.

Members are worried about the implications of these reforms on the 73,000-member organization, especially given the recent financial deficit and decline in membership. Critics argue that the limited time for review and lack of opportunity for membership input are troubling trends.

Concerns over transparency and financial pressures

Some TRREB members feel that the changes are not in the best interest of the organization and could lead to a lack of accountability. Last year, a proposed increase in membership dues was rejected, highlighting financial concerns amidst a challenging market environment.

Brokerages are also speaking out ahead of the key vote, urging members to carefully consider the proposed changes and participate in the decision-making process. While not opposed to reform, some members are calling for a more transparent and segmented approach to the bylaw changes.

CEO’s response and member involvement

TRREB’s CEO declined to comment publicly on the proposed changes, emphasizing that members will have the final say at the AGM. Former TRREB president Tim Syrianos believes that members should have a say in decisions regarding dues and fees, highlighting the importance of educating members and allowing them to vote on such matters.

Circulating emails have raised alarm over the proposed powers, with concerns about the board’s ability to increase dues without member approval. Members are being urged to vote “no” at the upcoming AGM to allow for more review and understanding of the proposed reforms.