Transition Resource Hub
The recommendation to integrate BDAR with the Toronto Regional Real Estate Board (TRREB) experienced an overwhelming endorsement at the Special Meeting of Members on February 16, 2023, with 92% of members voting in favour of this direction.
Congratulations to BDAR Members on taking the next step to achieving more seamless service for your clients, reaching a broader audience for your listings, and increasing your opportunities to build your business.
Once the transaction is completed, BDAR and TRREB will both continue on an affiliated corporation basis and maintain their respective board status with OREA and CREA, with complementary service offerings.
Learn more by watching the video update from BDAR President, Luc Woolsey, and reading the FAQs below.
These FAQs will be updated regularly and any additional questions can be directed to firstname.lastname@example.org
When did BDAR begin this integration journey?BDAR started the journey of reimagining the role of a local association over a year ago by challenging the status quo in all aspects of the business through transformative culture, progressive governance, fostering growth & development, our modern resource hub and regional mentality. In September 2021, we launched a membership survey to gain member insights on service gaps and strategic direction. The results showed a large expectation gap in the MLS® system and data with the majority of members identifying BDAR should pursue a conversation to develop a closer relationship or strategic alliance with TRREB. Since then, further insights and efforts were undertaken to analyze the gap in Simcoe County market data and to understand member and non-member trading patterns. All information was shared and discussed at many strategic planning sessions facilitated by industry experts and compiled of Board of Directors and committee/task force members. These sessions, along with legal counsel and leadership meetings, have led us to this integration announcement and the beginning of the formal member consultation period. BDAR will also be hosting town hall meetings to gather feedback and be updating a list of most frequently asked questions regularly. Detailed Timeline
What's changed since the last time BDAR tried to partner with TRREB?We’ve been aspiring and working towards this partnership for years, with the objective of bringing a proposal to BDAR Members that ensures they benefit from the best possible service and access to comprehensive information. We truly believe the proposal we are bringing forward will provide you with the best tools to do your job, at no extra cost, while maintaining a strong and important regional presence, reducing burdens, and unlocking more opportunities to better serve your clients. The intention to make the switch in 2017 was sincere and a sound business decision just not the change our membership wanted at the time. A lot has changed since then including our membership composition and demographics and various industry and market changes. Throughout the years, BDAR has maintained a positive relationship with TRREB, and we’ve learned from those past efforts and this announcement is the result of all those learnings.
What is the timeline for this integration to be complete?The announcement begins a formal consultation period with Members of BDAR and information sharing with TRREB Members. Throughout this process, Members will have the opportunity to learn the details and benefits of the proposal and ask questions. Once the consultation process is complete, the proposal will be put to BDAR’s membership for a final vote on Thursday, February 16, 2023 at a special BDAR meeting.
What happens after a successful vote and how will members be supported during the transition period?Upon a successful vote on February 16th, nothing changes right away. A transition period will begin on March 31st where current staff will work to transition BDAR members to TRREB members. BDAR members will continue to have access to the current ITSO system through to the end of the summer at the least while we work to ensure all members can access a fully working MLS® system. Current BDAR staff will take care of BDAR members during the transition with the same service, support, and training currently offered through BDAR and at our Facility to ensure a smooth transition. Detailed transition processes including timelines will be communicated throughout the entire transition period.
Will BDAR Members be considered TRREB or BDAR Members?Upon a successful vote, a transition period will begin to integrate BDAR’s operations with those of TRREB where ultimately all BDAR Members- both current dual BDAR/TRREB and current BDAR-only members will become Simcoe County Regional Members of TRREB. Current BDAR staff will take care of BDAR members during the transition with the same service, support, and training currently offered through BDAR and at our Facility.
What is the contingency plan should the vote not pass?Upon an unsuccessful vote, BDAR will continue to operate at status-quo. The Business Combination Agreement entered into by BDAR Board of Directors with TRREB is conditional on the members of BDAR voting at the special meeting on February 16, 2023, in favour of the amendment to the Articles and the by-laws. If that special resolution of members fails, then BDAR does not have an obligation to close the deal under the BCA and things revert legally to the way things were before and BDAR will continue to operate status-quo.