Ralph Salomons, Chair

Financial planning

Council will be reviewing the Real Estate Council of Alberta’s budget for the 2009-2010 fiscal year at its meeting on August 5. Financial planning for the coming year has been made slightly more difficult by a small, but expected drop, in licensing numbers, particularly in the real estate sector. Each year there is attrition of existing industry members; however, since 2001, the number of new industry members and those re-entering the industry has met or exceeded the number of industry members that have left the industry. The Alberta Real Estate Association has indicated to RECA that the Real Estate Associates’ Program (REAP) enrollment numbers have dropped compared to recent years and RECA expects that, as a result, there will be fewer new industry members coming into real estate in the year ahead and as a result a drop in revenue for RECA.

That said, there have been small increases in the number of mortgage brokers and real estate appraisers/candidates, and RECA remains confident that its history of strong financial planning and commitment to fiscal responsibility means Council’s financial position continues to be sound. Council is committed to long term solutions to ensure its ability to meet its mandate and provide services in an effective and efficient manner.

Server Upgrade

The upgrade of the RECA Online and website server was completed without a hitch in early July. The new server has increased security to protect RECA’s licensing information and increased capacity, which will allow more users to process applications faster, especially at renewal time.

Renewal information and new application forms will be released to brokerages and appraisers in mid-August, after Council has approved the budget.

Commercial real estate information sessions

RECA was pleased to host two information sessions in June for commercial real estate brokers. Calgary and Edmonton commercial real estate brokers were invited to the sessions, which were held in both cities. The sessions were an excellent opportunity for commercial real estate brokers to meet with RECA staff and Council members for an update on RECA initiatives with respect to the commercial real estate industry.

The sessions also gave commercial real estate brokers an opportunity to provide input to RECA on the issues affecting the business of commercial real estate industry members. This input is a valuable resource for the work of RECA’s Commercial Real Estate Advisory Committee. RECA strives to address the needs of all of the industry sectors it regulates, and appreciates the opportunity to receive input from each sector.

  

 

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