PRESIDENT

SANDRA BENZ

A year of shifting momentum amid rising rates and low inventories made for challenges and uncertainty in our real estate market last year. After a record-setting 2021, it turned out we’d see a few more twists and turns before closing out 2022 on a path towards stability. We ended the year with 15,273 sales, well off the records posted in 2021 and 2020, and back to the pre-pandemic levels of 2019. Benchmark prices took a similar ride, peaking at $1.2M in March (nearly $1.8M for detached homes!) before closing out the year at $955,000, down about...Read More

President's Message

CEO

BALDEV s. gILL

Every year in the lead up to the Annual General Meeting I take stock of the work we’ve achieved over the previous year and the magnitude never fails to amaze. Tens if not hundreds of thousands of tasks and actions: nearly 50,000 MLS® transactions processed; over 11,000 member contacts and more than 4,000 trained by Membership & Education staff; 11,000 tickets logged with IT; hundreds of interactions through Communications and Professional Standards. And these are just the ones for which we have hard metrics. Add the myriad of internal activities made every single day, across every department, to...Read more

CEO Message

The Fraser Valley REALTORS® Charitable Foundation was borne out of an act generosity. In 1969, five former FVREB presidents pooled their personal funds to purchase several acres of land adjacent to the Board’s property and some years later, sold the land to the FVREB for the original purchase price, with instructions that the property be used for the benefit of the community. Today, the proceeds from the sale of that very property have been used to establish and endow the Foundation, whose mission is to support marginalized and vulnerable youth in our communities. By helping to create programs and paths to future success for young people, we are not only investing in our collective future but, importantly, giving back to the community which has given our industry so much.

Fraser Valley REALTORS® Charitable Foundation

Total Sales

SOUTH SURREY/ WHITE ROCK

NORTH DELTA

SURREY

LANGLEY

ABBOTSFORD

TOTAL
REGION

MISSION

Benchmark Price

Share of 2022 Sales

Days on Market

Go back to Market Highlights

Blanket Drive Kick Off | October 25, 2022

Food Bank Donation | December 5, 2022

The annual Blanket Drive is highly anticipated—and participated in—each year. And for good reason: our members believe in the importance of action when it comes to showing care and support for the communities where we live and work. Every day they see the impact of shelter on the lives of families, especially when challenged with shortages, affordability and inflation. Together with the Board’s annual Food Bank Donations, plus countless charitable efforts by individual members and brokerages, these acts of kindness and generosity are the least we can do to give back to a region that has given us so much.

Blanket Drive donations:

bags

of charities supported:

#

charities

Food Bank donations:

Director of MLS ®

cHERYL cAMARA

Data and information constitute a lifeblood for real estate professionals. It allows them to leverage their unique skills and local market knowledge and offer clients more than just statistics, but rather real intelligence and insight.

The MLS® team at FVREB knows data. Every year we process tens of thousands of listings and sales for our members, regardless of whether the market is trending up or down. In 2022 that meant over 15,000 sales and more than 32,000 new...Read more

HIGHLIGHTS

Operations Highlights - MLS®

These are dynamic times for REALTORS®. The regulatory landscape is shifting, and the market is more volatile than it has been for some time. The best strategy for coping and succeeding in this environment is a strong offence—and that starts with Professional Development, the cornerstone of a REALTOR’s strength.

Membership and Education provides the tools and resources to ensure that our members not only meet new education requirements to maintain membership in...Read more

HIGHLIGHTS

Members calls fielded:

Operations Highlights - Membership & Education

After a year-long delay due to the pandemic, we were able to celebrate the Board’s Centennial in earnest throughout 2022. We used the opportunity to spread the word about the tremendous value our profession brings to the Fraser Valley communities we serve. The public outreach campaign included a successful ad campaign on Global TV, radio and online that generated over 11.5 million impressions and a Centennial microsite where thousands of visitors walked along memory lane from our humble beginnings in 1921 to today. We capped off the celebrations with the burial of a time capsule to honour the legacy of the past 100 years and to pay it forward for the next 100.

Time Capsule Video | November 14, 2022

Ironically, building a solid IT infrastructure doesn’t start with hardware or software or networks. It starts with people—the team and culture behind the infrastructure—and a primary strategic focus for IT in 2022 was to continue to build a rewarding environment to recruit and retain the right talent. The 5 new staff we onboarded this year join a team committed to continued professional development in all IT disciplines, from cloud engineering to software development to DevOps to cybersecurity. It wouldn’t be an overstatement to say FVREB IT...Read more

HIGHLIGHTS

Operations Highlights - IT

Members:

FVREB Staff:

Other:

Total tickets serviced:

Software development tickets:

2022

2021

Senior Director, Operations & Professional Standards

michael carter

2022 was a year of rebuilding and revitalization for Professional Standards as we continued to guide and advise members on critical issues regarding matters of professional conduct.

Members rely on Professional Standards to provide an objective hearing when reviewing complaints to determine whether or not a member’s behaviour has met the standard of conduct prescribed by the FVREB Bylaws, the Rules of Cooperation, and the Realtor Code of Conduct. The introduction of three new staff members, strengthened our...Read more

HIGHLIGHTS

Operations Highlights - Professional Standars

Member Inquiries:

Professional Conduct Complaints:

Arbitration Claims:

Appeal Hearings:

Manager of Communications

lilian choi

When members think about communications at FVREB, the first things that likely come to mind are the communiques and messages they receive every day via our numerous channels—Touchbase, eMemo, NewsReal, Facebook, Instagram, FVREB Connect, to name just a few—all aimed at delivering information vital to supporting their professional needs.

And while this is certainly true, it’s only half the story. Ideally, communications is as much about the listening as it is about the messaging, a two-way interaction where true engagement is possible. For the FVREB Comms team this...Read more

HIGHLIGHTS

Operations Highlights - Communications

Last year, FVREB unveiled a series of lit benches throughout the Fraser Valley to commemorate our centennial and celebrate the role of real estate professionals in the region. Why a bench? Well for starters, along with buses, benches are a classic component of realtor marketing strategy, with their built-in familiarity. But more than that, the bench is an iconic symbol of community. They invite us to pause, rest, take a load off, enjoy the view. And because these special benches also light up at night, they become an even stronger symbol – a beacon, if you will, and reminder of the role REALTORS® play in building and shaping our communities.

FVREB Bench, Langley

FVREB Bench, SFU University

FVREB Bench, Board Office

FVREB Bench, Abbotsford

The FVREB Stakeholder and Government Relations Committee (SGRC) has always represented members soundly at the local, provincial and national levels, meeting with MPs and MLAs, sponsoring candidate meetings and debates, or taking part in PAC days. While it’s important to maintain a voice on political issues, the heightened urgency of housing issues in our province calls for an equally heightened response.

Last fall, the SGRC conducted a full-day planning session to renew our mandate and strategic approach to playing a meaningful role in the discussions around affordability and supply. By the very nature of the work we do, we have unique insight into the day-to-day workings of the real estate market, and an intimate relationship with those most impacted by...Read more

Advocacy

If an organization is only as strong as the commitment of its members, then the FVREB is a powerhouse. Every year, scores of members offer their time and expertise serving on the committees that are essential to effective Board functioning. These volunteers act on behalf of membership to keep the Board moving forward, helping to steer everything from governance to government relations and from the Brokers Council to the Blanket Drive (see the full list here). And in 2022, after three years of restrictions, we were finally able to resume our Luncheon of Gratitude, an annual tradition to celebrate their worthy contributions and say, Thank You!

Volunteers Luncheon | December 1, 2022

Vice President & Chair, Finance Committee

Jeff chadha

After a strong first quarter, 2022 sales began to decline in response to a series of interest rate hikes – from 0.25% to 4.25% in less than nine months – and low inventory levels. Total sales volume closed out the year at 15,273 a decrease of 45% from 2021’s record-setting 27,692 sales. 2022 new listings also fell, from 35,629 to 32,442. The market swing could have had a much greater impact on our financial picture were it not for well-timed decisions and responsible fiscal management, which...Read more.

Finance Committee Report

Year Ended December 31st 2022

Year Ended December 31st 2022

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Fraser Valley Real Estate Board
15463 104 Avenue
Surrey, BC V3R 1N9

www.fvreb.bc.ca | communications@fvreb.bc.ca | 604.930.7600