We have received a lot of feedback since our announcement on Nov. 6, 2023, of the board of director's decision to approve a significant investment in our building. We thank those members who took the time to share their thoughts and suggestions.

We also acknowledge that some members do not support this decision and wish to have a member meeting so a vote can be held to conceivably overturn this board decision. Before acting on such a requisition, the board of directors will need to confirm that our bylaws and governing legislation are being followed. It will be important for the Directors to balance the needs of requisitioning members with members opposed to staging a Special General Meeting (SGM). It is worth noting that we received some negative member comments regarding the recent Oct. 3, 2023, SGM because we had already had an SGM in March.

As REALTORS^®, we all place great value on our integrity and the importance of doing everything properly. One of the most common themes we hear as Directors is the need for higher standards and consistent enforcement of our standards. As Directors, there is no greater fiduciary duty than compliance, and I assure you we take our responsibility very seriously.

This is why we have been closely watching developments around a potential member petition regarding the renovation project. We respect that our bylaws empower the board to act and make decisions on behalf of the organization and that our bylaws and our governing legislation, the Cooperatives Act (Alberta), also prescribe methods for member oversight.

This is why we have not provided commentary on efforts to collect signatures for a petition. The wording in our bylaws and governing legislation is very specific and is there for interested parties to review. It would not be appropriate for the board of directors or senior staff to interpret these important members’ rights or provide premature commentary.

We hear the concerns and questions, and we are announcing we will be engaging with members on a weekly basis until all your questions are answered. Starting Dec. 1, 2023, we will have a member town hall in the Frank Johns Auditorium at the CREB^® building every Friday at 2 p.m. We will answer your questions, provide background information on the renovation project, discuss the concept of the CREB^® Campus and review any other topic that is important to you.

We respect the ability of members to petition the board of directors for an SGM and will respond once this requisition is officially presented to the board of directors.

As I indicated in the CREB^®Talk announcement on Nov. 6, your board of directors is committed to providing members with more information, and we will continue to keep you informed.