Toronto Regional Real Estate Board (TRREB) members have rejected a proposed $60 increase in annual membership fees for 2025. The vote, which took place during TRREB’s recent Annual General Meeting, saw members firmly oppose the plan, signaling concerns about affordability and financial priorities within the organization.
Currently, TRREB members pay $1,061 annually, and the proposed fee hike would have pushed that amount to $1,121. TRREB argued that the increase was necessary to cover rising operational costs, including investments in member services and technological improvements. However, members expressed that the timing was not ideal, given current economic challenges faced by many in the real estate profession.
TRREB CEO John DiMichele addressed the membership after the vote, emphasizing the board’s commitment to fiscal responsibility. “We respect the decision of our members,” DiMichele stated, while also noting that the organization will need to reassess its budget to maintain service levels. TRREB’s leadership has pledged to explore alternative cost-saving measures and revenue options to manage financial demands without imposing the fee increase.
Many members who voted against the fee hike shared their reasons, citing concerns about inflation, rising business expenses, and the current state of the real estate market. “We’re already facing high costs, from marketing to transaction fees,” said one TRREB member. “An extra $60 may not seem like much, but it adds up, especially when our income is tied to a slower market.”
The rejection of the fee increase also sparked broader discussions about TRREB’s budget priorities and transparency. Some members are calling for greater consultation and input on financial decisions, arguing that more dialogue could help the board and its members find common ground.
While the fee hike proposal has been shelved, TRREB plans to revisit its financial strategy in the coming months. The board has assured its members that maintaining essential services remains a top priority, but balancing member concerns with operational needs will require careful planning moving forward.