Abbreviation | CREA |
---|---|
Formation | 1943 [1] |
Headquarters | Ottawa, Ontario, Canada |
Region | Canada |
Membership | 130,000 [2] |
Key people | Jason Stephen (President) [3] Michael Bourque (CEO) [4] |
Website | www |
The Canadian Real Estate Association (CREA; French : L'Association Canadienne de l'Immeuble, ACI) is a trade association that represents real estate brokers, agents, and salespeople in Canada. [2]
CREA's membership includes over 130,000 individuals, working through 90 real estate boards and associations across Canada. [2] CREA is governed by an elected board of directors, [5] which has representation from each region of Canada and features director-at-large positions. The board currently comprises 16 seats.
The CREA was formed in April 1943. [6] In 2024, the Canadian Competition Bureau launched an investigation into the CREA over the association's buyer's commission policies. [7]
This aims to be a complete list of the articles on real estate.
A multiple listing service is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation and accumulate and disseminate information to enable appraisals. A multiple listing service's database and software is used by real estate brokers in real estate, representing sellers under a listing contract to widely share information about properties with other brokers who may represent potential buyers or wish to work with a seller's broker in finding a buyer for the property or asset. The listing data stored in a multiple listing service's database is the proprietary information of the broker who has obtained a listing agreement with a property's seller.
The National Association of Realtors (NAR) is an American trade association for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, making it the largest trade association in the United States including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries. The organization holds a U.S. trademark over the term "Realtor". NAR also functions as a self-regulatory organization for real estate brokerage. The organization is headquartered in Chicago.
Real estate agents and real estate brokers are people who represent sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions.
For sale by owner (FSBO) is the process of selling real estate without the representation of a broker or agent. This is where the homeowner sells directly to a new homeowner. Homeowners may still employ the services of marketing, online listing companies, but can also market their own property.
A listing contract is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property.
Business brokers, also called business transfer agents, or intermediaries, assist buyers and sellers of privately held businesses in the buying and selling process. They typically estimate the value of the business; advertise it for sale with or without disclosing its identity; handle the initial potential buyer interviews, discussions, and negotiations with prospective buyers; facilitate the progress of the due diligence investigation and generally assist with the business sale.
A buyer brokerage or buyer agency is the practice of real estate brokers and their agents representing a buyer in a real estate transaction rather than, by default, representing the seller either directly or as a sub-agent. In the United Kingdom and Australia, the most common term is buying agent.
Flat-fee multiple listing service or flat-fee MLS refers to the practice in the real estate industry of a seller entering into an "à la carte service agreement" with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction. A flat-fee MLS brokerage typically unbundles the services a traditional real estate brokerage offers and lists the property for sale in the local multiple listing service (MLS) à la carte without requiring the seller to use all services.
A real estate trend is any consistent pattern or change in the general direction of the real estate industry which, over the course of time, causes a statistically noticeable change. This phenomenon can be a result of the economy, a change in mortgage rates, consumer speculations, or other fundamental and non-fundamental reasons.
The Ontario Real Estate Association (OREA) is a professional association that represents real estate brokers and salespeople who are members of Ontario's real estate boards. It has its headquarters at 15 Kern Road in Toronto.
The Greater Montréal Real Estate Board (GMREB), or Chambre immobilière du Grand Montréal in French, is the second largest real estate board in Canada.
The New Brunswick Real Estate Association is a Canadian provincial association for those who work in the real estate industry. It serves and regulates its members through education in professional and ethical standards and promotion of public awareness for the benefit of realtors and the public they serve. It was founded in 1958.
The Saskatchewan REALTORS® Association (SRA) is the processional association that represents over 1,500 real estate brokers and salespeople in Saskatchewan.
Assist-2-Sell is an American real estate franchise organization operating in the United States and Canada. It was founded in 1987 by Mary LaMeres-Pomin and Lyle E. Martin and is based in Reno, Nevada.
A real estate transaction is the process whereby rights in a unit of property are transferred between two or more parties, e.g. in the case of conveyance one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred, the amount of money being exchanged, and government regulations. Conventions and requirements also vary considerably among different countries of the world and smaller legal entities (jurisdictions).
PropertyGuys.com Inc. is a Canadian private sale real estate, or FSBO, franchise marketing company based in Moncton, New Brunswick. With over 100 franchise locations across Canada and thousands of active listings on its site, it is the largest private home sale network in North America.
The Ottawa Real Estate Board (OREB) is a non-profit professional association of registered real estate brokers and salespeople in the Ottawa, Canada area. OREB was formed in 1919 and incorporated in 1921. In 1982, the name was changed to 'Real Estate Board of Ottawa-Carleton', and was changed back to the 'Ottawa Real Estate Board' in 2000.
The Canadian property bubble refers to a significant rise in Canadian real estate prices from 2002 to present. The Dallas Federal Reserve rated Canadian real estate as "exuberant" beginning in 2003. From 2003 to 2018, Canada saw an increase in home and property prices of up to 337% in some cities. In 2016, the OECD warned that Canada's financial stability was at risk due to elevated housing prices, investment and household debt. By 2018, home-owning costs were above 1990 levels when Canada saw its last housing bubble burst. Bloomberg Economics ranked Canada as the second largest housing bubble across the OECD in 2019 and 2021. Toronto scored the highest in the world in Swiss bank UBS' real estate bubble index in 2022, with Vancouver also scoring among the 10 riskiest cities in the world.
Burnett v. National Association of Realtors is a class-action lawsuit challenging the fees charged by real estate agents in the United States. The case was filed against the National Association of Realtors and some of the largest brokerages in the country. At trial, a federal jury found that they violated antitrust law by conspiring to force home sellers to pay inflated commissions to real estate agents.