Brokerage Resources: Why You Should Vote Yes at The Fall Annual Meeting

Today, TRREB Members have access to more data than ever before. 

TRREB's Board of Directors has worked effectively to bring access to expanded MLS® data to Members, which has long been their number one ask. As Brokers of Record, your feedback has been incredibly valuable throughout this process, and both you and your REALTORS® will see substantial financial and operational efficiencies with reduced need to interboard listings and reduced need to pay for multiple board memberships to access MLS® data.

TRREB remains committed to providing value to Members through cost-effective membership dues. With the decline in the need to interboard listings and to pay for multiple board memberships as your REALTORS® have access to an expanded MLS® database, there are financial considerations. TRREB has begun to experience a decline in revenues as efficiencies are achieved, and this trend will continue over the next year. Current market conditions have also been a factor with the largest decline in membership experienced since 1991.

The TRREB Board of Directors has proposed a $60 dues increase for 2025 to address the historic decline in membership, the slowing pace of new registrants becoming Members, the declining need to interboard listings, and the reduced need for multiple board memberships.

As market conditions improve and current membership trends change, TRREB's Board of Directors will address revenue surpluses with dues holidays and reductions as they have 16 times over the preceding 24 years.

We are asking for your support on the dues motion at the upcoming TRREB fall Annual Meeting.

Vote YES

As a Broker of Record or Manager, share these resources with your REALTORS® at your brokerage to help them understand why voting YES at the fall Annual Meeting is important to support the future of our profession.

Download and share this PDF at your next brokerage meeting to help inform your REALTORS® that:

• TRREB Members will have access to a vastly expanded MLS® database in 2025 with more than 95,000 REALTORS® across Ontario providing their listings, and the vast majority of Ontario real estate boards contributing their historic listings.
• At the start of 2024, TRREB saw the largest decline in membership since 1991 with an 8% reduction driven by a reduced need to interboard listings and maintain multiple board memberships as boards began joining a larger collective MLS® database. Challenging market conditions have also led to Members deciding to retire or exit the business. 
• The rate of new Members joining TRREB has declined over the last year due to market conditions and this trend will continue. A decline in new Members joining TRREB means a significant impact on revenue due to the loss of entrance fees, in addition to the annual dues. New TRREB Members pay a one-time entrance fee of $460 when they join which is incorporated into TRREB's operational revenue.
• With an expanded province-wide MLS® data access comes financial implications. TRREB is forecasting a drastic reduction to interboard listings and as more data is available, other REALTORS® across Ontario will no longer need to interboard listings to TRREB. This will lead to a reduction in revenue to TRREB of up to $500K annually. This decrease in the need to interboard listings is expected to decline even further.
• The forecasted reduction in the need to maintain multiple board memberships will also have financial impacts. REALTORS® will save conservatively more than $6M per year in multiple memberships, much of which will reduce revenue to TRREB.
• The proposed TRREB dues will equate to 41% of the total 2025 dues invoice TRREB Members receive, which includes MLS® Service. The balance of the annual dues invoice consists of the annual dues for OREA and CREA, which are collected by TRREB and then remitted to OREA and CREA.
• Aside from the small cost of living adjustment (COLA) that took effect in 2024, TRREB has not raised Member dues in over 20 years. Since 2001, TRREB has provided 16 dues holidays and reductions to Members. This amounts to a cumulative savings of over $4,200 for each TRREB Member who has maintained membership since 2001.
• TRREB has a growing number of long standing Members for 25 years or more who have a reduced annual dues amount. Additionally, TRREB's Members with 50 years of membership also continue to increase.
• Member dues are far less today than they were in 2001, both after adjusting for inflation or even when unadjusted for inflation. On an unadjusted basis, the proposed 2025 dues are $71.36 less than they were in 2001, and when adjusted for inflation to today's dollars represent an annual savings of $598.62 from 2001.

We encourage you and your REALTORS® to vote in favour of this dues increase at the upcoming fall Annual Meeting on Wednesday, November 20, 2024.  A YES vote is a vote for your business and our profession's future success.

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