• Monique Lischka

Regulating Real Estate

Updated: 4 days ago


Regulating the Real Estate Industry Saskatoon, Saskatchewan

Have you ever run across acronyms such as SRAR and SREC?

Wondered where the trademark REALTOR® came from?

Heard the term "Organized Real Estate"?

It can be a bit confusing, right?

Here is a brief overview that will help you understand who fits where and does what as well as a bit about the Industry Trademarks that you may see and wonder about.


Enforcing the Laws that Govern Real Estate in Saskatchewan

SREC ~ The Saskatchewan Real Estate Commission.

Established in 1988, SREC is an independent agency that regulates the Real Estate industry and is mandated to protect the consumer through The Real Estate Act, The Real Estate Regulations, and The Real Estate Bylaws.

Here is the link to SREC Overview (www.srec.ca)

Here is the link to SREC Legislation (www.srec.ca)


Organized Real Estate

Like most groups that happen, a few people get together with a main idea or goal in mind and join forces to create success with their endeavors. Organized Real Estate came about as a result of just such a group of people who wanted to get together to help each other find buyers for the Homes they had listed for sale. Since those early days, Organized Real Estate has evolved so it can better serve not only it's members, but the consumer as well.

It all began in the United States ...


NAR ~ The National Association of REALTORS®

Originally the National Association of Real Estate Exchanges founded in 1908 in Chicago. The association changed their name to NAREB, The National Association of Real Estate Boards, in 1916 and then to NAR in 1972. The REALTOR® and REALTORS® trademarks are owned and patented by NAR and depicted with the block "R" logo.

Here is the link to NAR History (www.nar.realtor)


CREA ~ The Canadian Real Estate Association.

Organized Real Estate came to Vancouver, Canada in 1888 under the name CAREB. By 1944 CAREB had officially adopted the term REALTOR®, and in 1951 began the "photo co-op system" which eventually became the MLS® system. Members approved the first code of ethics specific to Canada in 1959 called The REALTOR® CODE. The REALTOR® Code sets out a standard of conduct for all members of organized Real Estate and often goes above and beyond the basic legal requirements. Eventually CAREB was renamed CREA in 1971, and has over 130,000 members who are licensed to trade in Real Estate in Canada.

Here is the link to CREA Organization (www.crea.ca)

Here is the link to CREA History (www.crea.ca)


SRA ~ Saskatchewan REALTORS® Association

SRA is an entity that combines all of Saskatchewan's organized Real Estate boards under one umbrella (except Lloydminister because of it's dual provincial status). The amalgamation will come into effect in 2020 and will streamline the work of each of the individual boards to create a cohesive and efficient single board assisting the members of organized Real Estate in Saskatchewan.

Here is a link to information about SRA (www.saskatchewanrealestate.com)


SRAR ~ Saskatoon Region Association of Realtors

One of many organized Real Estate boards across Canada that are affiliate organizations of CREA. SRAR provides vital information and guidance on a local level in Saskatoon to enhance member success throughout their professional career. SRAR will be amalgamated in 2020 into a new organization encompassing all organized Real Estate boards in Saskatchewan called the Saskatchewan REALTORS® Association or SRA.

Here is a link to SRAR REALTOR® Brand (www.saskatoonrealtors.ca)


ASR ~ Association of Saskatchewan Realtors

ASR is an affiliate organization of CREA and SRAR and is a provincial board tasked mainly with the educational requirements of all members of organized Real Estate in Saskatchewan. ASR will be officially amalgamated into a new organization under the name SRA in 2020. All educational requirements for members of organized Real Estate is now provided by the Real Estate Division of the UBC Sauder School of Business.

Here is a link to ASR History (www.saskatchewanrealestate.com)

Here is a link to information about SRA (www.saskatchewanrealestate.com)


REALTOR® or REALTORS®

A Registered Trademark owned and patented by NAR and symbolized by the Block "R" Logo. REALTOR® was established in 1949 and REALTORS® in 1950 and can only be used by a member of Nar or an Association of NAR. When you see a Real Estate salesperson with this trademarked logo, you know he/she is a member of organized Real Estate that honors the REALTOR® Code.

Here is the link to NAR History (www.nar.realtor)

Here is the link to CREA Organization (www.crea.ca)


The REALTOR® Code

This is a collection of rules that often go above and beyond legal requirements, that detail the professional standards and conduct of all members of CREA. It was originally set out by the National Association of Real Estate Boards in 1913 to establish a high level of professionalism by all members licensed to display the REALTOR® trademark. The U.S. version of the Code called The Code of Ethics and Standards of Practice was then adopted by CREA and, under the Canadian version, became The REALTOR® Code.

Here is the link to The REALTOR® Code (www.crea.ca)


The Multiple Listing Service®

In the beginning of organized Real Estate it was thought that members could better serve their clients if they shared the property listings of the clients they represented with other members. They would gather every so often to do just that. They developed an unofficial system which evolved from those early stages into the "Photo Co-Op System" and then eventually into The MLS® in Canada. This exchange of information is owned by CREA and you must be a member of CREA and a REALTOR® to have access to all data available in the system.

Here is the link to NAR History (www.nar.realtor)

Here is the link to CREA History (www.crea.ca)


I hope this helped to shed a bit of light on how the Real Estate Industry is Governed and the various Trademarks of the Real Estate Industry.


Signed Off in Saskatoon, Saskatchewan

Monique




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