Review and Self-Assessment

Ralph Salomons , Chair

I’m pleased and honoured to be taking the helm as chair of the Real Estate Council of Alberta. I look forward to working with my Council colleagues and our industry stakeholders as we face the challenges of the coming year.

I’m also delighted that Richard Parker, who is Service Alberta’s appointment to Council, will be joining me as vice-chair. Richard has been a dedicated and hard-working member of Council since November 2004. As one of only two public members of Council, Richard brings a well-rounded perspective to the Council table.

The past year has seen the culmination of a number of major Council initiatives. As previously reported, Council’s strategic direction for the next three years is to focus on core services, education standards, stakeholder relations and operational efficiency. Council will avoid new initiatives that would directly affect the day-to-day activities of industry members unless absolutely necessary.

Over the past year, RECA has initiated independent reviews of many of its administrative processes to ensure that the delivery of its services is efficient, effective, meets acceptable standards and is transparent. I see this review and self-assessment as an integral step in the maturity of RECA as an organization and essential in the delivery of core services. 

This review and self-assessment will continue and focus on many aspects of RECA’s operation and administration, including RECA’s budget and financial operations, and the current governance model.

Advertising policy change

I am pleased to announce that Council has approved a significant policy change that will allow industry members to use other identifiers in advertising their services and products such as franchise names, a branding name, team name et cetera. Prior to the policy change, industry members could not use other identifiers. Please refer to the article in this Regulator for full details.

Syndicated Mortgages

RECA’s Mortgage Brokers Advisory Committee continues to work on the issue of regulation of syndicated mortgages. The Committee reported to Council at its August meeting. Council requested that additional research be undertaken by the Committee, and asked it to report back with a full regulatory plan including the impact on RECA’s resources if it were to undertake regulation of syndicated mortgages at the appropriate levels. The Committee is undertaking this challenge and will report to Council in late spring.

Looking ahead

I would be remiss if I didn’t use this opportunity to thank Pat Rudiger as the outgoing chair of RECA for his effort and dedication to the work of RECA over the past year. There were very few committee meetings that Pat was not able to attend. Although it was a challenging year, as a result of Pat’s leadership and guidance, Council was able to resolve a number of important issues and set a clear direction for the next three years. His commitment to RECA and the respective industries that RECA regulates is commendable and appreciated.

I look forward to the challenges and opportunities over the next year, and encourage industry members to be a positive influence and participate in providing input to Council to move important issues forward.

 

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