The 2022–23 Business Plan and approved financial plan reflect the strategic framework identified through stakeholder consultations. Consumer protection is at the center of everything RECA does as we advance initiatives to deliver RECA’s mandate and achieve strategic goals.

Regulatory Excellence

RECA is committed to accountability—demonstrating respect, results, and continuous improvement

RECA expects to use the foundation of high regulatory standards established and refine accountability in a cost-effective manner. Building regulatory excellence requires continuous learning, adaptation, and the ability to consider diverse perspectives.

2022-23 Planned Results

Licensing

• Real Estate Act Rules s.2 review
• consult with licensees and industry associations
• obtain ministerial approval of licensing changes

Governance

• implement the enterprise risk management framework (developed in 2021-22)

Private Lending Review

• develop rules and consult with stakeholders

Rules Review

• scope and consult with stakeholders to prioritize rule changes, to identify irritants for practitioners and consumers and to optimize compliance obligations

Education

• fully implement education divestment
• develop a relicensing education approach across industry sectors

Compliance

• collaborate with industry to resolve consumer concerns and direct complaints to appropriate resources for issues where RECA does not have legislative jurisdiction

Success Indicators

1.1 Regulatory action plan delivers continuous improvement, including stakeholder input for licensing and Rules review
1.2 Governance accountability highlights regulatory performance results
1.3 Licensees are provided with market-driven education options

Trust and Confidence

RECA will promote trust in our regulatory capability

RECA will continue to work with licensees and stakeholder groups to contribute to ongoing dialogue and meaningful actions to ensure Alberta’s real estate market is protected and respected thanks to the professionalism exercised by licensees.

For real estate transactions to function, consumers need to understand their rights and responsibilities, know how the process works and what the risks are. Consumers also need to have confidence that the real estate practitioner they are working with adheres to high standards for professionalism and ethics.

2022-2023 Planned Results

Collaboration & Protection

• partner with industry to inform the public regarding condominium management roles and responsibilities
• collaborate with community partners to deliver consumer awareness sessions to vulnerable consumers

Outreach

• publish new condominium management information for consumers and licensees
• redesign RECA website to improve accessibility and access
• implement practising without a licence awareness

Engagement

• develop and communicate a predictable stakeholder engagement process to strengthen transparency
• resume regulatory rural community road trips
• contribute to regular productive info-sharing meetings with government

Planned Consultations

• licensing changes
• private lending review
• Rules review

Success Indicators

2.1 Engagement creates feedback loops with stakeholders to demonstrate how consultation input has been incorporated in organization actions
2.2 Governance members actively participate in stakeholder consultation, including attendance at stakeholder meetings
2.3 RECA and Service Alberta interact in ongoing and purposeful two-way communication

Organizational Resilience

RECA promotes change while seeking to be a resilient and sustainable organization

The challenges RECA faces, like the real estate industry we regulate, evolves at an ever-increasing pace. RECA will divest of education services in 2022 to reflect RECA’s focused mandate in the updated Real Estate Act.

RECA will continue to focus on building a resilient and agile workforce to respond to change, particularly in the new hybrid working environment.

2022-23 Planned Results

Culture

• create an action plan for the recommendations from the employee engagement survey conducted by the external consultant

Financial

• review and update, as required, RECA’s funding model

Resourcing

• expand core competencies, especially cybersecurity
• identify automation processes to improve customer experience

Success Indicators

3.1 RECA’s culture reflects accountability, professionalism, and teamwork
3.2 Ongoing opportunities are identified to use integrated IT systems to improve regulatory efficiency, improve service delivery and share data and best practices
3.3 RECA’s self-funding model provides adequate resources to prioritize work and fund programs to achieve RECA’s mandate
3.4 RECA employs an organizational-wide approach to monitor, assess and mitigate risks

Previous Business Plans

• 2021-22 Business and Financial Plan

2022-2025 Strategic Plan

We work collaboratively to ensure that the public has every confidence in the tremendous value of Alberta’s real estate industry licensees.

RECA’s Board of Directors began work on the strategic planning process in 2021 to gather feedback from stakeholders regarding RECA’s future. Early in 2022, the Board and Industry Council members met to discuss stakeholder input and synthesized this feedback into broad strategic themes. In 2022, stakeholders were provided additional opportunities to provide their insights before the strategic plan was finalized.

The work that Service Alberta commenced four years ago to listen to stakeholders and create a new governance structure is foundational to RECA’s strategic direction. Strategic priorities in the next three years represent complex trade-offs with constrained resources.

RECA continues to work closely with Service Alberta to implement improvements and demonstrate effectiveness. RECA is also focused on building organizational capacity to develop agility that can respond to unknown future regulatory challenges.