The Alberta Real Estate Association (AREA) and the Real Estate Council of Alberta (RECA) have reached a settlement, putting an end to their ongoing legal disputes. RECA's Board of Directors has agreed to pay AREA a sum of $900,000 in a resolution that signals a step towards rebuilding a positive relationship between the two organizations.Throughout the legal process, AREA maintained its commitment to safeguarding the best interests of its members while seeking to foster a constructive relationship with RECA. The $900,000 settlement, agreed upon by RECA's Board of Directors, marks a significant milestone in closing this chapter of legal disagreements.AREA expressed its satisfaction with the resolution, emphasizing its dedication to advocating for the integrity and professionalism of Alberta's real estate industry. The settlement allows both organizations to move forward with mutual respect and professionalism, bringing an end to the legal and administrative complexities that could have been incurred if the disputes had proceeded through the courts.In a joint public statement, RECA and AREA announced the settlement, explicitly stating that it was reached without any acknowledgment of liability. The no-fault agreement also resolves the claim involving former RECA council member Robyn Moser and addresses concerns or claims related to RECA's contractual interference with AREA."I am pleased this $900,000 no-fault agreement resolves matters stemming from difficulties between RECA's previous council and AREA. RECA wanted to ensure we would move forward with the best interest of the industry in mind. I look forward to a constructive relationship as RECA pursues its mandate to protect consumers within a healthy self-regulating profession," said Elan MacDonald, RECA Chair.David P. Brown, AREA Chair, expressed satisfaction in putting the contentious issues behind them and focusing on building a positive relationship with RECA for the benefit of AREA's members. Brown acknowledged and supported RECA's work in setting and enforcing rules for the real estate industry.RECA is an independent governing authority responsible for setting, regulating, and enforcing standards for various licensees in the real estate industry in Alberta. On the other hand, AREA is a not-for-profit professional association representing the interests of over 13,000 Alberta realtors from 10 local real estate boards/associations, with a focus on member-centric services, advocacy, and professional development.
