Canadian Real Estate Association

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Canadian Real Estate Association
Headquarters Ottawa, Ontario
President
Pauline Aunger
Website crea.ca

The Canadian Real Estate Association (CREA) is a Canadian single-industry trade association that represents over 100,000 real estate brokers, agents and salespeople, working through approximately 100 real estate boards and associations across Canada.[1] Its president is Pauline Aunger.[2] The association was established in 1954.[3]

CREA’s members are known as "realtors", which means they are members of their provincial real estate association or members of both their local real estate board and CREA, depending on the province. As well, they abide by the ethical standards laid out in the Realtor Code.[4]

A real estate agent may become a member of a local board within the CREA, which confers the agent with membership in the CREA.[5] Local boards are represented by a provincial association within the CREA.[5] The local boards operate the multiple listing service for their market.[5] There are 101 real estate boards in Canada.[3]

Both the Multiple Listing Service or MLS trademark and the Realtor trademark are owned by Realtor Canada Inc, a subsidiary of CREA.[6] Local real estate Boards or Associations operate a local data base under a licensing agreement with the national association. CREA also operates the realtor.ca (previously MLS.ca and ICX.ca) web site.

Property owners who do not want to fully engage the services of a Realtor, can hire one to only list their property on the MLS system. In these instances, the property owner is responsible for ensuring the listing information is accurate and agrees to handle all other details of the transaction directly.[7] The seller may have to pay a commission to the buyer's real estate agent, if the buyer uses one.[8] Approximately 90% of real estate transactions in Canada in 2009 were conducted via the MLS.[3]

History[edit]

  • 1943 - founded as Canadian Association of Real Estate Boards[9]
  • 1944 - Realtor trademark adopted for use by its members[10]
  • 1951 - Photo Co-op System (precursor to MLS) introduced

See also[edit]

Notes[edit]

References[edit]

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