7 minute read
BCREA Hits Its Stride: Taking on the Strategic Realignment of the British Columbia Real Estate Association
Hannah MacWilliam
With almost a year under her belt as Chief Executive Officer at BCREA, Darlene Hyde is leaving her mark on BC’s real estate sector in a big way: Tackling the strategic realignment of BCREA.
“It’s all hands on deck—meaning we’ve just launched our 2018–2020 strategic plan,” says Hyde. “In collaboration with the 11 regional Real Estate Boards, we’re helping BC’s 23,000 REALTORS® navigate a time of enormous professional change.”
For Hyde, developing BCREA’s strategic plan is like building a house: It needs to be built on a strong foundation made up of a clearly defined mission statement. That’s why before delving into the strategic plan itself, Darlene and her team first clarified the Association’s mission: Empowering Real Estate Boards by sharing expertise so BC REALTORS® are trusted, respected, and proud of their profession.
“Once that foundation was there, building the frame—our strategic goals—became much easier,” Hyde explains.
Building Relationships With respect to the new strategic plan, Hyde and her team know teamwork will be the key. “All of us know that our success will depend on solid relationships.
For that reason, the first goal of the strategic plan is to build relationships with Real Estate Boards and other key stakeholders.”
She says BCREA is already on the right path, pointing to the success of Real Estate Board roadshows BCREA held in the second half of 2018.
“Completing BCREA’s first roadshows has set the stage for an aligned vision. We are better positioned now to coordinate actions on provincial matters, as well as on local matters that may have a provincial impact.” Leading a Unified Voice on Advocacy The year 2018 saw unprecedented regulatory change for REALTORS® . Unfortunately, many of the changes came into effect without input from the REALTOR® profession. Hyde says that needs to change but adds, “It will take a concerted and unified approach to advocacy to ensure the voices of REALTORS® are heard.”
BC Minister of Public Safety and Solicitor General Mike Farnworth, BCREA CEO Darlene Hyde, and BC Minister of Education Rob Fleming BCREA CEO Darlene Hyde briefing BC’s Real Estate Boards and REALTORS® on various issues important to REALTORS® at BCREA’s provincial lobbying conference, Government Liaison Days BCREA CEO Darlene Hyde and Calgary Real Estate Board Chief Executive Officer Brad Mitchell
Fraser Valley Real Estate Board Communications Coordinator Debbie Jay; Real Estate Board of Greater Vancouver Government Relations Manager Harriet Permut; Real Estate Board of
Greater Vancouver Volunteer/Committee Member Sylvia Sam; BCREA Director Ray Harris; BCREA CEO Darlene Hyde
Ensuring their voices are heard is a lynchpin of the new strategic plan and BCREA’s second strategic goal.
She wants REALTORS®’ voices heard for two reasons.
First, it’s unacceptable that REALTORS® are sometimes positioned as untrustworthy and their perspectives dismissed when it comes to regulatory change.
Second, consumers’ interests are best served when REALTORS® help shape real estate practice.
According to Hyde, the rocky introduction of significant changes to Rules under the Real Estate Services Act that came into effect in June 2018 is a perfect example of what can happen when REALTORS® voices are shut out. “REALTORS® were not consulted on the implementation of the Rule changes and there have been some consequences that I don’t think the Real Estate Council of BC and the Office of the Superintendent of Real Estate anticipated, particularly when it comes to the ban on limited dual agency.”
Data collected through a consumer survey conducted by the firm Research Co. in August 2018 revealed there is an appetite among consumers for the provincial government to revisit some of the recent changes to real estate practice. “We are using the survey results to show the government that there is an opportunity to take advantage of REALTORS® professional expertise and revisit some of the Rule changes, particularly the ban on limited dual agency,” she explains
Regulatory changes are not the only issues BCREA has been active on when it comes to advocacy. BCREA has also been hard at work to advocate for more transparency when it comes to the fight against money laundering. When Peter German released an independent review of money laundering in Lower Mainland casinos last summer that suggested real estate transactions are being used as a cover for money laundering, BCREA moved fast.
“Both BCREA and REALTORS® share a deep concern that the real estate sector may be vulnerable to abuse by organized crime. Early conversations with Financial Transactions and Reports Analysis Centre (FINTRAC) have helped us learn where there might be gaps in compliance,” Hyde says.
Who Will See Your Ad in The Scrivener?
BC Notaries Lawyers Land Surveyors of BC Real Estate Professionals Real Estate Boards and Associations Age-Friendly Designates MLAs and MPs in BC Life Insurance Brokers and Agents Accountants Managers of Financial Institutions Investment Management Agencies Provincial and Federal Court Judges Registrars Mayors Government Ministries Libraries: Public and Private, including Law Society, Legal Services, Education Facilities Chambers of Commerce BC Housing BC Assessment BC Buildings Corporation
Spring Advertising Deadline March 10
scrivener@society.notaries.bc.ca www.notaries.bc.ca
Hyde notes those conversations helped the BCREA team identify an opportunity to fulfill their third strategic goal: Enhance REALTOR® professionalism through a relevant, adaptable approach to education.
On the back of those FINTRAC conversations, BCREA launched its inaugural Advocacy Exchange Conference for Managing Brokers in September 2018. “We wanted to bring managing brokers and compliance experts together so managing brokers could better understand the nuances of their compliance responsibilities.”
The Advocacy Exchange Conference was also part of a larger rethinking of REALTOR® professional education. “Our existing Professional Development Program (PDP) framework may no longer meet REALTOR® needs. The swift pace of change to real estate practice means it is time for us to review the PDP structure as part of our broader strategic plan.” More than Advocacy and Education
While advocacy and education are integral to BCREA’s role as the professional association for BC’s Real Estate Boards and 23,000 REALTORS®, they are just 2 of BCREA’s 5 core services that also include standardized legal forms, communications, and economics. BCREA’s fourth strategic goal is to continue delivering core services that enhance the professionalism of REALTORS® .
Hyde highlights the importance of the valuable insights BCREA’s Economics team delivers each month. “Our Economics team is respected across Canada and the market and economic analysis they provide every month helps REALTORS® add value to their clients. We are looking for new ways to leverage the outstanding work our Economics team does to support the profession and consumers.”
When it comes to communications, enhancing BCREA’s own image is another priority under the fourth strategic goal.
For Hyde, that meant a rebrand. “When I started, our stakeholders told us BCREA’s brand was outdated and stiff—our identity didn’t resonate with the people we serve.” She knew that had to change if BCREA was going to successfully reconnect with its stakeholders.
Hyde advocated for a new brand, complete with a new logo, tone of voice, and—coming soon— website. “Our new brand is fresh and dynamic,” she explains. “It’s about expressing that we are the voice of BC’s REALTORS®; the rebranding, along with a move to a new openconcept office, has really energized the BCREA team.”
Helping the BCREA Team Thrive
Hyde’s enthusiasm grows when she talks about BCREA’s fifth strategic goal, which is to deliver excellence through an engaged staff.
“As CEO, our fifth strategic goal is particularly important to me. The BCREA team has been incredible to work with during this period of uncertainty and have produced excellence day-in and day-out, often in a demanding and fast-paced environment.”
For Hyde, the fifth strategic goal is an opportunity for senior staff in particular to provide leadership that helps the team thrive. “I’m deeply committed to creating a culture of ongoing learning and growth for all the BCREA team, with managers empowered to lead the way. For me, real success will mean we do more than fulfill our strategic goals. Real success means creating a workplace where staff are supported in fulfilling their own professional goals, too. That’s the root of both excellence and engagement.”
With a fully staffed team in 2019, Hyde adds, “We are all enthusiastic about the year ahead and plan to keep our sleeves rolled up to continue building our momentum and shaping industry change.” s Hannah MacWilliam is Communications Coordinator for BCREA.
