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Residential Real Estate Advisory Committee

Terms of Reference

Type:
Standing Committee

Membership:
Two council members - one council member who will be the committee chair and is a real estate broker or associate trading in residential real estate; one council member who will be committee vice chair and is from an industry sector other than residential real estate or is a public member
Six industry members whose main area of practice is residential real estate
One member of the public – Council will have the discretion to appoint a member of the public to this committee
Two members appointed by the Alberta Real Estate Association (AREA) who are industry members and sit on the AREA Board of Directors during their appointment

Ex Officio Members:
Ex-officio members of the committee are the RECA Chair and Executive Director

Resources:
RECA Resources: Director of Professional Standards, Registrar, General Counsel
Industry Resources: The committee may invite an individual who is with an industry association or real estate board to provide input or to assist with the work of the committee on a specific issue or project basis.

Mandate:
The mandate of this committee is to provide advice to council on regulatory issues in the residential real estate sector. The tasks of the committee are:

• to identify, research and discuss emerging issues related to the residential real estate sector affecting industry members and consumers;
• to make recommendations to council with respect to its responsibilities under the Real Estate Act related to the residential real estate sector; topic areas include the Real Estate Act and Rules, licensing and education standards, standards of conduct, industry practices, accounting and reporting requirements;
• at the request of council, the committee may be assigned specific projects which could include issues research, preparation of discussion papers, consultations or development of specific recommendations for council’s review and consideration; and
• to meet at least once a year; however, it being understood meetings of sub-committees may be held to assist the committee in achieving its mandate.

The establishment of this committee does not affect the responsibility of the Executive Director to provide information, advice and recommendations upon his or her own initiative, or upon the request of council, on matters before council affecting the regulation of the real estate brokerage industry.

Term:
November 1st – October 31st; appointment of individuals to this committee, other than the AREA appointees, will be made by the Chair of Council;  an individual other than a member of Council, can serve up to three two-year terms.