Transparency and accountability are two key ingredients for Governance Excellence. That’s why CREB^®’s board of directors will now share meeting reports to members following each board meeting.

About the BOD meeting reports

In February 2020, the Board of Directors began generative discussions on how to best communicate topics being covered at the board table. The need for transparency and accountability to members was never in question, the issue was how to provide information in a timely and useful way.

The issue was referred to the Governance Standing Committee who considered best practices, researched the policies of other real estate boards and associations, and considered the need for clear, concise updates that foster good and confident governance.

After a detailed review, the Governance Standing Committee made a recommendation to CREB^®’s Board of Directors which was approved. The proposed amendment to the CREB^® Governance Manual Policy 2.1.6 Board Meeting Policy will require the posting of a Board meeting report.

Now, following each board meeting, a meeting report will be shared with members that summarizes what was discussed.

Board meeting highlights

Board of Directors Meeting Report - March 25, 2020:

• The board approved the updated CREB^® 2018-2022 Strategic Plan, setting out a clear, relevant and meaningful strategic direction inclusive of short, mid and longer-term priorities.
• Pillar 9™ MLS^® System Fee Change Options: The Board reviewed the guiding principles of our 2020 budget (Value, Consistency, Sustainability, Visibility and Flexibility) and the impact of Pillar 9™ on overall cost to belong. Options and the resulting financial impact on members and the organization were discussed at length.
• The Governance Dashboard and a robust user guide was developed as tools for Directors to stay abreast of the overall health of the organization and to enable monitoring progress towards achieving its strategic priorities.

Board of Directors Meeting Report – June 10, 2020:

• The 2020 budget restatement recommended to the Board by the Audit, Finance and Risk Standing Committee was approved. This budget takes into account the possible financial ramifications of the pandemic. The Board examined the reforecast presentation and agreed the logic used and the figures arrived upon were sound.
• Real Estate Act Review Working Group: A recent series of meeting with the minister were recently held, things are rapidly accelerating after the pause due to COVID-19. We are currently waiting for a spreadsheet detailing all changes that have been proposed as the legislation in its current form is challenging to navigate.
• Harmonized rule work continues. The process for assessing rule changes is handled by an AREA operational committee, the Change Management Group.

Click here to view the Board of Directors Meeting Reports page on CREB^®Link. 

Click here to view the 2018-2022 Strategic Plan.