Why We Do What We Do

The Real Estate Council of Alberta (RECA) has served as the governing body for Alberta’s real estate industry professionals since June 1996. Though as a governing body there has been some evolution in those 16 years, the fundamental reason why RECA does what it does, has not changed. 

But what exactly is that reason? Why does RECA do what it does? 

To put it simply, RECA’s “why” goes to ensuring there is a safe environment where the parties involved in a real estate transaction have confidence that they will be treated fairly and professionally and the outcome achieved will be positive for everybody.

Having a regulated environment for real estate industry professionals protects consumers and promotes trust and confidence in the real estate industry which, in turn, promotes the interests of the industry and improves the relative success of individual industry professionals.

Alberta’s almost 15,000 industry professionals are in the unique position to help people make what are likely the biggest financial decisions of their lives. These professionals have the education necessary, the training they need and clear rules and professional standards to follow that help ensure a safe environment for consumers to conduct their real estate transactions – one that understands their needs, respects their confidences and maintains standards that are for the benefit of the community.

Society seeks both the preservation of individual freedoms and the prevention of harm. In civil society, to achieve these goals, regulation is necessary and compliance with the rule of law and adherence to professional standards is fundamental. However, regulators, RECA included, often find themselves between these competing goals.

RECA’s approach to this challenge is to seek a regulatory balance in the fulfillment of its legislative mandate. This regulatory balance takes into account a number of elements: Alberta’s culture, norms and values; the importance of consumer choice; the desire of real estate professionals and brokerages to provide services through business models of their choice; and, the need for a real estate industry that has the trust and confidence of consumers.

Accountability, transparency, professionalism, appropriate industry standards and a solid educational foundation – those are precisely what a regulated industry can offer to consumers – and they are the reasons why RECA does what it does.

What is your “why” statement?

Comments

[Wayne Thomas]

I like ther way this message has been explained.
Very positive and professional.
Something we can all aspire to.

Wayne Thomas,
Broker
Premiere Realty Ltd.

[DAVID LOWE]

RECA subscribes to high ideals, which I think most professionals also subscribe. Pre-dating RECA's existence as my license does, I have had the opportunity to watch the 'evolution' of this organization over its entire lifespan. I cannot help but compare RECA to The Law Society of Alberta, both self-regulatory agencies, both ostensibly dedicated to the protection of the Public.
However, while the Law Society takes a supportive, educational approach to their mandate, RECA in my experience at least, seems to feel it's mandate is to 'root out evil' (real estate salesmen) and endlessly involve itself in regulatory minuteia as a pretext for it's existence and budget. Having mentored individuals obtaining their initial licenses on-line, it is obvious to me that RECA does not take it's educational role particularly serously, nor is it particularly interested in feed-back to that effect.
The recent attempts by RECA to 'sell' or 'spin' its relationship with the industry is something I watch most keenly. If in fact, the regulator is attempting to modify its, honestly arrogant and palpably haughty approach to those it wishes to regulate, then I welcome the change. If it is merely propaganda for public consumption, then I'd prefer to be left off RECA's mailing list.

[Aaron Alberts]

Wow, I can't agree more, David. I really have nothing good to say, so I won't say anything at all. That is what I was taught, however you know where to find me if you choose.

[Jill Skriver broker/owner of Realty Advocate]

I think this was an excellent message that clarifies RECA's position on what it does. I can affirm that pre RECA complaints went into a black hole never to be heard of again! RECA has changed this, now every complaint is responded to; even if the response is a no. I think that the new position that was created allowing Brokers to call RECA for clarification on the Act was the best move yet. RECA's mandate is to regulate the Industry, and I think they should go further than they have, especially with fines. I think David Lowes comment: "that they are there to "root out evil"" tells me that some individuals truly have no concept how RECA works. I know Realtors who have done transactions that seriously breach the Act yet I can't report them. Only someone involved in the transaction can. Very rarely does RECA initiate an Investigation and it is always based on solid evidence, that shouldn't be overlooked. 99% of the complaints are submitted by a party to the transaction and if a complaint is Investigated; yes the investigation is thorough and all parties to the transaction are contacted. As it is now, I think our fees should increase a few dollars to accommodate the hiring of more trained Investigators. It takes 1 - even 2 years to complete an Investigation, as the complaints are usually handled in the order they come in. The answer is in having enough professional Investigators to handle the files properly and quickly. I think RECA has been unfairly portrayed by many. I hope the new image also educates this message!

[Lexus Boyd]

I think our fees should increase a few dollars to accommodate the hiring of more trained Investigators.