In 1909 the Edmonton Real Estate Exchange was created. It introduced a shared listing concept, a uniform rate of commission for services and endeavored to create a high standard of integrity and encourage a spirit of fair and honourable competition in the marketplace. The exchange operated only to 1913, overwhelmed by the political and economic upheaval of the times. Reflecting better economic times of the late 1920s, members of the Edmonton real estate industry established the Edmonton Real Estate Association in 1927.
This organization adopted a code of ethics, established a two-tier membership system of salesmen and agents and a committee system of operating. Its most important accomplishment was the passage in 1929 of the Real Estate Agents’ Licensing Act, a bill to require persons to furnish qualifications to act as real estate agents. The Association evolved into the Edmonton Real Estate Board cooperative Listing Bureau Ltd. in 1952, just in time to service the needs of the post war boom. The next three decades would be the golden age of real estate in Edmonton.
Some interesting events to note:
- The Multiple Listing Service® was introduced in the early 1960s.
- A catalogue, introduced in 1973, replaced daily perforated listing sheets for REALTORS®.
- Computerized operations at the Board began in 1979 with the conversion of its membership records.
- Members accessed MLS® System information from their first database using the Vandat system in 1984.
- The EREB acquired an existing real estate weekly in 1985, renaming it the Real Estate Weekly.
- In 1990 the EREB became the first board in Canada to use secure electronic keyboxes to store keys on listed properties. in 2007, the keyboxes were updated with new wireless technology and security systems.
- Today, REALTORS® use enhanced software programs to coordinate their clients’ home buying and selling needs.
- Entering its second century of service, the Edmonton Real Estate Board celebrated its 80th Anniversary in 2007.
- On May 18, 2007, the 80th anniversary, the EREB changed its name to the REALTORS® Association of Edmonton to reflect its role as a professional association of REALTORS®.
- On May 18, 2017, we celebrated our 90th anniversary