This is a follow up to “A House Divided” ~ (Don’t Pin this one on the REALTORS®) that we posted a few weeks ago…
The issue: the board of Directors of The REALTORS® Association of Edmonton passed a new rule in February that will prevent REALTORS® and the public from accessing sales data on a property once conditions are removed until the Title transfers. The rule is set to come into effect Dec. 1/12.The stated reason is to prevent the REALTORS® Association of Edmonton from being held liable for collapsed transactions.
The situation: The directors who originally voted unanimously for the rule voted again on Sept. 26 5-4 in favour and decided to press on in spite of the overwhelming opposition. The current by-laws do not require members approval for rule changes, only by-law changes.
The members unite in opposition to the rule: Over 400 REALTORS® attended our Annual General Meeting this past Thursday, September 27th (these meetings usually only draw about 70-85 people…tops). Since this meeting I had knee surgery which is why I am addressing this a little late; however, better late than never. I believe this is of paramount importance for our ability, as REALTORS®, to do our job effectively and for you the public to make informed decisions.
Many industry leaders spoke out against the rule and voiced their concerns against this rule at the meeting. When the non-binding vote came down from the Board of Directors to rescind the rule it was an overwhelming ~400 to 3. It was literaly a sea of green cards for the removal of the rule as the membership spoke in one clear voice to the Board.
In all my conversations with Industry Members I have yet to find anyone in favor of this rule change; save those few Directors.
What comes next? Since we could not change the rule, we voted to change the by-laws so the membership can change rules, but the by-law change can’t be approved until the next AGM on Dec. 5.
The Board of Directors now has the option to listen to the membership and rescind the rule, or push ahead with the new rule Dec. 1, and wait for the membership to overturn it on Dec. 5.
The Directors were treated cordially and respectfully by those in attendance even though many of us are mad as hell at not only the rule change but the entire process around it. Speaking for myself I won’t be so kind if we have to go back en masse to vote again to kill this rule on Dec. 5. In that case it would be a clear signal to me that the board does not respect the true owners of the association; its members. Stay tuned.