Commercial Real Estate Broker and Commercial Property Manager Industry Council Urban Seat By-Election

RECA welcome a modernized governance structure consisting of a Board of Directors and four Industry Councils representing four different industry segments with the proclamation of the Real Estate Amendment Act 2020. Elections for the Industry Councils occurred in November 2020, resulting in 11 of the 12 industry seats being filled.

The Urban Commercial Practitioner seat on the Commercial Real Estate Broker & Commercial Property Manager Industry Council was not filled at that time as no qualified candidates were nominated.

As a result, the RECA Board of Directors has approved a by-election for the Urban Practitioner Seat to occur on February 3-5, 2021.

Potential candidates for this seat can apply to become a candidate until January 20, 2021. These candidates must meet the basic eligibility requirements and the special requirements for the Urban Commercial seat, and submit their candidate materials to byelection2021@reca.ca.


Download the Candidate Package

Basic Eligibility Requirements

In order to be considered as a candidate for the by-election to the Commercial Real Estate Broker and Commercial Property Manager Industry Council, a candidate is required to:

  • complete and submit a Candidate Information form
  • receive a minimum of ten (10) written endorsements to their nomination by ten (10) licensees, at least five (5) of which must have come from full time, commercial practitioners. Nominee Endorsement Form
  • be an active licensee (meaning that the licensee is registered with a brokerage and authorized to practice in commercial real estate or commercial property management) in good standing in the industry;
  • have five (5) or more years of continuous industry experience with a main focus on the commercial sector;
  • not, at the time of the selection of nominees, be the subject of proceedings under Part 3 of the Real Estate Act;
  • not, during the five-year period immediately prior to their nomination, have been found by RECA to have engaged in conduct deserving of sanction resulting in a sanction greater than a Letter of Reprimand;
  • not have been convicted of an offence under the Criminal Code of Canada or the Controlled Drugs and Substances Act, within the past five (5) years, nor be the subject of current proceedings under the same;
  • have previous experience on a board, with preference to governance experience; and
  • not concurrently hold a position on the board of an Association, be an employee of the association, or have immediate family employed at the regulator (if elected to the council seat, they would need to resign from their role with the association).

 


Urban commercial Practitioner Eligibility Requirements

  • minimum of 70% of their business has been conducted in an urban setting (i.e. a municipality / metropolitan region with a population in excess of 90,000 people)
  • minimum of ten years of brokerage experience in an urban setting, has been licensed with a commercial brokerage (i.e. whose business for the past five years has been comprised of not less than 70% of trades in commercial real estate, measured both by volume and value of real estate transactions, and managed at least $2 million of commercial brokerage revenue in each of the past five years)
  • has transactional experience working with institutional owners or large regional owners of commercial real estate
  • has transactional experience with a reasonably significant number of deals completed (i.e. 50 or more) in the last five years in commercial property trades by either the candidate themselves or other associates who report directly to the candidate
  • of the ten required endorsements, at least five must have come from full time, commercial practitioners

Who can vote in the Commercial Real Estate Brokerage and Commercial Property Management Industry Council:

  • real estate associates authorized in commercial real estate
  • real estate associates authorized in rural (agri-business) real estate
  • real estate associates authorized in property management and have declared that they primarily operate in commercial property management. If you are licensed in the Property Management sector, you will receive an email from RECA by January 8. You will be asked to reply to the email if the majority of your property management business is commercial. Based on your affirmative reply, you will be sent a link to the ballot when voting opens on February 3rd.
  • all real estate brokers
  • all real estate associate brokers


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