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REIC Toronto Chapter History
The Canadian Association of Real Estate Boards (CAREB) was formed in 1943 as a unifying lobbying organization to withstand the price controls legislated by the Wartime Prices and Trade Board. Wartime Prices and Trade Board was established in 1939 by the Canadian government immediately before the onset of World War II, in fear that conditions of inflation and social unrest experienced during World War 1 should not return.
In 1941 the board became the responsibility of the Department of Finance, having its powers enormously expanded to include wage and price “stabilization”. Initially, Canadians supported the board’s aims until 1943, when labour officials became critical of its arbitrariness. Farmers complained about discrimination and businesses tried to escape price ceilings. Leaders of Canada’s real estate industry worried that government wartime measures might become a permanent policy after the war, and decided to form a national organization that could influence the federal government’s post-war planning.
In 1955, CAREB formed the Canadian Institute of Realtors (CIR) to provide organized advanced education to its members. Originally there were only 96 members who completed a correspondence course through the University of Toronto. On January 14, 1962, the Executive Committee of CAREB approved the addition of “Chapter” to their Rules & Regulations. Approval was given to two applications from two Chapters and two additional requests thereby granting:
- Local Chapter No. 1 – “Eastern Ontario Chapter”, for members in Ottawa and Eastern Ontario, including Hull;
- Local Chapter No. 2 – “Quebec Chapter”, for members in the Province of Quebec, excluding Hull;
- Local Chapter No. 3 – “Calgary Chapter” to members of the Institute in Calgary upon request and receipt of the necessary documentation; and lastly
- Local Chapter No. 4 – “ Toronto Chapter ” to members of the Institute in Toronto upon request and receipt of the necessary documentation.
Interestingly, CAREB and the Toronto Real Estate Board occupied the same office and shared the same staff till 1964. The original Institute was formed 56 years ago when various chapters were formed, the Toronto Chapter was the “first Founding Chapter (1962) for the Canadian Institute of Realtors, which was then under the Canadian Association of Real Estate Boards, later in 1971, known as REIC under CREA and has always been and still is currently the largest chapter throughout the Real Estate Institute of Canada. The Toronto Chapter was originally two separate chapters, belonging to two different associations, which were eventually combined in the 1980’s bringing the FRI, and CPM members together.
In 1971, CAREB changed its name to Canadian Real Estate Association (CREA). That same year CIR changed its name to the Real Estate Institute of Canada (REIC). Additionally in 1971, the Canadian members of the Institute of Real Estate Management (IREM) joined with REIC. In 1975, CREA and REIC separated and REIC finalized the agreement with IREM. Later on in 1979, the Institute of Leasehold Acquisition (ILA) became a third division of REIC.
In 2013, the chapter received 60% agreement from CPM® designated membership to apply to IREM for IREM Chapter Recognition. Permission was granted at the April 2014 spring conference.
The Toronto Chapter is the oldest and largest chapter in REIC. Its newsletter, the acclaimed In Touch, has been in circulation for over twenty years and each issue captures and reflects both the history and the striving spirit of the Chapter for all to witness.
The REIC Toronto Chapter has come a long way since those early years in both size and diversity. Many of our Members have become leaders of other Real Estate associations such as CREA, OREA, TREB, OAACI, CCI, GTAA, IHM, ACMO, BOMA and CIPREC.