Subscribe
Share
Share
Embed
The REALTORS® Association of Edmonton (RAE), founded in 1927, is a professional association of real estate brokers and associates in the Greater Edmonton Area and beyond.
Welcome to the RAEdio podcast brought to you by RAE, the Realtors Association of Edmonton. So that's the Ray in our radio. We deliver easy to understand market insights, some homeowner tips, perspectives from industry experts so that you can feel informed and empowered wherever you are in your home ownership journey because better decisions start with better information. James Mabee is a member of the Realtors Association of Edmonton and past chair of the Canadian Real Estate Association or CREA. Hello, James.
Mark:Thanks for joining us.
James:Hey, Mark. Thanks for having me.
Mark:So tell us about CREA, the Canadian Real Estate Association. What does it do?
James:Yeah. The Canadian Real Estate Association is the national body that represents all of the members from across the country. So we have about a 155,000 plus folks who work hard in communities across this nation, empowering housing journeys for Canadians. And, it was founded primarily as an advocacy organization to start with, but also provides, you know, vital services for our members to help foster their success, Really cool technology that helps to, again, make a difference for not just our members, but for consumers. So think of things like realtor.ca.
James:And, it's probably the largest, if not very close, to the largest trade association in the country.
Mark:So what kind of relationship would it have for the Realtors Association of Edmonton? Are you in conjunction with each other, so to speak?
James:Yes. Absolutely. So there's there's sort of three components of of real estate in the country. There's our local boards who provide MLS systems to the members, as well as other vital supports. We've got our provincial associations that do a lot of, provincial advocacy work and then the Canadian Real Estate Association that advocates primarily with the federal government.
James:And we all work in concert to really make sure that we're, singing from the same song sheet and, helping people whether they're buyers, renters, our members of course, you know, but anybody who's involved in in Canadian housing.
Mark:And I would imagine just having that many members just brings more strength to an organization like that.
James:It it does. You know, it but it's it's the grassroots nature of the network of realtors that really is the secret sauce. I think when you have a 155,000 people who are intimately involved in some pretty intense moments in people's lives when they're buying and selling real estate, you know, you you you really get the flavor of the communities, and that actually really helps to inform governments. And that's a really big part of how individual realtors in marketplaces the actually help us to tell the story of what's happening in Canadian real estate. And and that just makes us even more effective when we are talking to policymakers and trying to influence the government to create, you know, pathways to homeownership, for instance, that really resonate no matter which community somebody might live in the country.
James:So it it's a pretty powerful group, and I would say it's the largest grassroots, organization probably in Canada as well that is really trying to move things forward in a way that that is resonates with Canadians.
Mark:Well, would say there's a lot of different issues you could tackle from that point of view because homeownership, affordability, all those things are are big topics right now in our political discourse. So how does Korea go about, you know, advocating different positions? How does it work for you?
James:I think that CREA recognizes that we're part of a housing continuum. So there's everything from, you know, supportive housing for for, you know, stream involvement in homeless populations to market housing. And, you know, all parts of that continuum need to thrive, and we know that that is something that government's really looking forward to, trying to find solutions across that housing continuum. So we work with other organizations as well on a national level to really try and find housing solutions and advocate for policy positions that no matter where somebody fits within that, you know, that they are, you know, able to find home because home really fosters dignity and belonging for people. And, you know, I think that when you approach it with that lens, which is very much the lens of of of our membership, you know, you can't help but be able to really shape policy in an effective way.
James:And when somebody is able to move from, you know, maybe supportive housing into, you know, long term rentals to maybe actually being able to enter the housing market and become a homeowner. You know, there's just nothing nothing like that. And handing somebody the keys for their first home is one of the reasons I got into this business, and I think one of the things that keeps me excited every day to go to work.
Mark:So imagine when when the government comes up with policies, and they talk about we'd like to get this many houses built. This is, in the next five years in Canada. And there's lots of ways to do that, and these are these are arguments. Let's face it, political arguments. How does CREA weigh in?
Mark:Where do you go with the kind of advocacy you wanna, you know, put forward? And how do you how do you determine what's gonna work best and and work with government? I know there's a lot packed into that question.
James:Yeah. And that's it's appropriate because it's really a multifaceted approach, but I think it hinges around data. One of the great things about the Canadian Real Estate Association and in concert with our boards and associations across the country is that we can provide really granular community level data. We can provide aggregate data. And when you're trying to influence people, especially in such a nuanced environment as the Canadian economy, you know, you really need to be able to drill down when it's appropriate, but also, you know, look at the the broader set of information that's in front of people.
James:So I think the government has come to rely on us, whether that's, you know, municipal or provincial or the federal government for really reliable data so that they can, you know, engage in information based decision making. And I think that that's kind of the backbone of what our system is able to help people with. And then when you layer that on top with the stories that our members are able to tell about what's actually happening in communities, you know, the struggles of a buyer to secure a house in an environment where there's just a lack of supply, you can't help but be able to really move people's minds. And I think that that's what's really helped us to to shift the needle. You know, being able to bring housing into sort of discourse, you know, people didn't think it was a crisis.
James:People didn't think we had a supply crisis. And the Canadian Real Estate Association, with our membership in that grassroots network, was really able to drive home the point that we were in a housing crisis. And I believe even recently on one of the other podcasts the Edmonton mayor, you know, he he also acknowledged that you've finally got all three levels of government that are acknowledging that we aren't just in a crisis on a local basis. It's it's really all three levels of government who are recognizing they need to solve that problem together. And I think that's really powerful.
Mark:So how do you engage them with your local realtors? Because as you say, that information has got to come from the ground up. So it must be a constant communication with folks who are buying and selling houses on the daily.
James:Yeah. And the and the members are the way to to get that insight. So we have a political action committee at a national level. It's made up of members from across the country as well as staff from boards and associations in the country. They meet on a regular basis to really unpack some of those challenges, to look at the current environment, and to digest where we think we'd be the most effective.
James:We have an annual event, which is our political action days in Ottawa, and I can tell you when there are hundreds and hundreds of realtors in Ottawa having meetings, with the the members of the government, you know, it is felt. And and people know. And we show up with data, but we also show up with solutions. And I think that that's a really big part of it. And so for any of our members who are interested in becoming a political action rep, you know, we've got some really great information on Korea's website.
James:You can also volunteer locally with the committee in Edmonton, for instance, where they would get a lot of training and support and then also be able to participate in that annual event that we hold. So we really work really hard to to pull in that talent from from the people and then refine it through that committee to make sure that what we're engaging with government about is gonna be the most meaningful for us, but also for the buyers and sellers that we serve.
Mark:Well, I guess in that meeting in Ottawa, it's the old real estate axiom. Location, location, location. That's where the government is.
James:It's true. You know, when you're storming the hill, it it it definitely feels like a proud moment. But people people want talk to us. It's not just a once a year kind of situation. Right.
James:You know, the best advocacy work, the best lobbying is is is being there when the government calls to ask us, you know, for that specific data, when they're thinking about policy, before they've made those decisions. And and having that great relationship with government is, I think, what has set Korea's advocacy efforts apart. Because, you know, when they are suddenly doing pre budget consultations, it's not unusual for us to get inquiries and questions and and be able to influence things, of course, before they're they're fully formed in terms of policy, and that really helps us to be able to move that needle too.
Mark:When we talk about people who are consumers, who are buyers and sellers of homes, or looking at buying a home, or even if they're renters, Why does advocacy matter to them? Why why should they be, sort of, up on what the kind of things that you're doing?
James:I I think housing affordability is is really the the big topic lately on that front. So, know, being able to have a path to home ownership, you know, for those who are already a part of the housing market, who who maybe already own, you know, they're interested in protecting their investment and their equity, and so we advocate for measures that do that. But having that entire continuum of housing working together, making sure that new buyers can enter the market is also part of protecting that equity for people who are already part of the market. You know, you know, differentiating the middle class, for instance, you know, really often comes down or is defined by the ability to to become a homeowner. You know, it's probably one of the single biggest opportunities for people to build equity that's gonna help them to to retire and have quality of life.
James:You know? So in addition to just home fostering that dignity and and belonging piece, you know, it's also a really great tool for people. And and so I think that that's why it matters to Canadians. We also know that Canadians still overwhelmingly want to own homes. They they want to become homeowners.
James:And 82% of of Canadians, according to our recent research with Abacus, feel like the federal government should be doing more to help people in that journey. And so that's where we can be a really great voice for all of those people who are not just in the market already, but who wanna be part of that market. And I feel fortunate working in a market like Edmonton where homeownership is still attainable, where we are the most affordable major market in Canada, I think. And, you know, that obviously makes my job a lot easier. But at the same time, you know, it reminds me of that pride, like I said, of handing over those keys to that first time home buyer and helping somebody start that journey.
Mark:Well, of course, this is for you, an extra job on top of your day job. You are a realtor who who helps people buy and sell homes. What's that journey been like being part of Korea trying to do the advocacy work? As they say, you were the chair, the past chair. So how was it juggling that?
James:It was difficult. I have never done anything that I felt more passionate about though, and so I was certainly willing to to find the time. And I think it's that, that old adage of asking a busy person if he wants something done. I I love volunteering. I always have.
James:You know, I volunteered extensively with Ray and was the chair of the Realtors Association of Edmonton back back in 2017, I believe. You know? So, you know, it's it's a passion. You're never gonna get me to step back from that much to my husband's chagrin, much to my business partner's chagrin who I owe my brokerage with. But, yeah, I I've never felt more proud of our membership.
James:And, yeah, I I I wouldn't change it for the world.
Mark:So how do you go about balancing sort of the interests of all the Korea members? Because when you go across the country, the issues in Vancouver are different from the issues in Edmonton to Halifax and the people who are on different, you know, pay scales, things are different. There there's a lot that's going on there. That that must there must be a lot of juggling.
James:Yeah. All real estate is local. And I think that's really important. You know, you you hear things in the news or the media about, you know, the national real estate market. There is no such thing as a national real estate market.
James:And because it is nuanced in different parts of the country, we have to be really careful to make sure that, you know, policy that we're trying to influence is going to be equally or if not if not equally beneficial to people in different parts of the country that is not detrimental to people in other parts of the country. Guess fairness
Mark:might be one word that goes in there. Right?
James:Yeah. Yeah. I think so. And unintended avoiding unintended consequences, I think, is a really big part of trying to together a national picture. You know, it is different, you know, especially in recent years with, more challenging markets in Ontario and British Columbia, for instance, to not have, you know, measures that the government is taking put further, downward pressure or pressure on the Alberta market that has actually done very well in the post COVID environment.
James:So, you know, I I think we have to make sure we're listening to the members weighing all that out, and that's why that committee structure is is really essential because, you know, they need on a regular basis, like I mentioned, to to really weigh all that out and to identify policy positions that we can really, champion on a national basis. And one of the things, you know, that's come up in recent years, for instance, which people wouldn't even think about, but it's just innovation and technology in housing. You know, really helping to accelerate home construction in this country and and, you know, many of real many realtors are involved in new construction as well as resale activity, you know, and advocating for an environment where people are able to, build homes at the pace that is required to meet that supply shortage. And so, you know, innovating off off-site construction techniques have been something we've talked about in recent years. So it's not just all demand side.
James:Like, we've been really successful advocating for programs that help buyers enter the market. So, you know, you think of the home buyer's plan or the first time home homebuyers program where people are able to use their RRSPs to save for homebuyers program. That was a direct result of the lobbying efforts of our membership in the Canadian Real Estate Association. And even the growth in that program, the changing of the limits and things like that has been things that we've worked on. So as much as we have some really successful demand side measures, we're also really trying to give the government ideas as to how they can shore up the supply side because it it isn't going to be solved really quickly.
James:It's a long term game. And so, you know, there are a lot of things that we can align on a national basis no matter which part of the country we're talking about about.
Mark:You mentioned about, you know, a lot of local issues also being of concern. I mean, one thing I think throughout the country is zoning. And when it comes to infill, it's a big topic everywhere, I think. Is that something Korea has weighed in on? And or how do you balance that?
James:Yeah. Absolutely. So, you know, if you sit through a presentation from our chief economist, Sean Kafkaert, he is unbelievable at telling the story about the missing middle. And so we have, you know, a shortage of affordable housing supply. So, you know, single family homes are getting bigger and more expensive, and nobody's building the stuff in the middle that is kind of affordable.
James:And so zoning becomes a big part of that. And so the people kind of thought it was laughable at first, but one of the the tools that we tried to put into the toolkit of the federal government was to tell them that we thought, which was not very popular at first, that they could actually tie infrastructure funding to municipalities putting programs in place that would meaningfully increase supply. And that was a that was a direct lobbying effort from CREA. And at first, people were thought we were a little crazy, but now it's become common, it it's become common not just for us to be talking about that, but other organizations as well. And so, you know, that has become a tool that the federal government has has been using really effectively.
James:And so that has put a lot of municipalities on notice that they need to work with the federal government, that they need to work with the provinces, and really find a solution together to, get out of the way, make sure that innovation can happen, all while balancing quality of life that people who are already in existing communities want and feel. So it can be a bit of a challenging discussion sometimes, but I think that when there's a crisis, people will find solutions if you just kind of get out of the way a little bit. So that missing middle is so important. And I think one of the things about Edmonton that I love is actually we have more of that product than a lot of other markets. And in some parts of the country, housing is becoming quite institutional as you have large organizations that are building a lot of purpose built rental, and it's not that our housing kitchen doesn't need that.
James:But when you see the vast majority of construction efforts going to purpose built rental, you do start to wonder about, you know, young people being able to buy their first home and needing that inventory as well. So we we we want something we want a solution that really, as as we talked about, kind of, increases supply in the in the most needed components of that housing continuum.
Mark:How much of a sense of cooperation or conflict might there be between CREA and say builders, developers, other banks? I mean, all these people are involved in the real estate industry in different ways and for different purposes. And I can see where maybe everything doesn't always align. How do you how have you balanced that or do you have communication with these other sectors?
James:We we do. Absolutely. So we maintain great partnerships with, you know, Canadian homebuilders, other organizations. You know, we have regular conversations with organizations like CMHC or OFFSI that do things like the stress tests. So, like, we're actually lobbying on multiple fronts a lot of the time to make sure that, again, that that pathway to homeownership is protected.
James:But it's in a very respectful way to make sure that, you know, everybody understands that, you know, as much as we're advocating for home ownership and for our members to continue to be able to add value to that that component of the journey, that we're not doing it to the detriment of any other part of the market and that, you know, partnerships become incredibly important. So I actually think that our industry is is really great at at cooperation and partnership because of that sort of three tiered approach of having local boards, provincial associations, and the federal organization having to work together so well that it just becomes natural that we've built some skills around having partners from, you know, other adjacent industries that, we can really work with well and make sure that we we we put even better stuff in front of the government for them to consider better solutions. The government listens when you don't come with a problem. They they listen when you bring the solution to the That's what they wanna hear.
Mark:And of course, there's always that rule of unintended consequences. And when you have relationships, say, builders, developers, banks, they can say, well, yeah, that sounds like a great idea, but this might happen. And then you can give it a second thought and say, Is that an issue or not?
James:Absolutely. And and we're here to hear those conversations too. You know, they they they inform provide us with data. You know, we wanna hear what their challenges are. And it's not just about advocating for our industry with government.
James:You know, we advocate with those organizations too to make sure that there's a win win.
Mark:Well, this has been an interesting talk, James, about Korea because it seems like they do a lot in real estate that a lot of people wouldn't really recognize. So so thanks for that. We want to finish up though with a question that we ask all of our guests. And I think having been in real estate a long long time and having your own home in Edmonton, you'll be able to answer this one pretty easily. We asked you, so personally, what makes a house a home?
James:It's a great question. I've heard a couple of great answers from your first couple of episodes as well. But I think it's about the the the friends and family that you share space with. You know, Darlene said it was about the memories, and and I would tend to agree with that because it's a lot more than four walls. And I think that that's why it's one of the the biggest honors of my life to be able to help people with housing is because when you're dealing with somebody's most important asset, probably one of the most pivotal moments of their life, you aren't just dealing with, you know, four walls.
James:You're dealing with, you know, all those memories they've built inside of of that. And, yeah, it it makes me really proud to be a realtor, but I would say it's it's family, friends.
Mark:Well said. James, thanks very much for coming on the podcast.
James:Thanks, Mark. It's been a pleasure.