“The proposal to amalgamate six real estate boards and the BC Real Estate Association (BCREA) into a new single organization, called Realtors of BC, was not supported by members and will not be moving forward,” the British Columbia Real Estate Association said in a bulletin Wednesday.
The vote took place on December 6; in order for amalgamation to move forward, a minimum of four real estate boards consisting of 15,000 members were required to vote in favour.
Only three voted “yes” and none reached the required member threshold, according to the BCREA.
“Despite the result, the proposal elicited incredible member engagement. Members turned out to vote in unprecedented numbers and over 67 per cent of realtors from participating boards voted in favour,” the association said.
The association expressed its disappointment with the decision.
“This was a historic moment for our profession in BC, one that could have set the course to build a different future,” Deanna Horn, president of the BCREA, said. “While members ultimately did not support this proposal, we now have incredible data and insight about our current structure, as well as the challenges and opportunities we face.”
The result may be somewhat unsurprising to some.
Only 43% of BC realtors said they would vote in favour, according to a past REP poll.
The proposal to amalgamate British Columbia’s six real estate boards didn’t garner enough support to move forward.