​REALTORS® are known for being self-starters and go-getters; people persons and relationship builders; expert negotiators and problem solvers; and caring individuals who help their neighbours and support local community groups and charities in countless ways. 

More than 160,000 REALTORS® live and work in communities across Canada. Just imagine if Canadian REALTORS® and the REALTOR® association community were to unite and use their collective expertise and skills to help address some of the most pressing social and environmental challenges together. 

Picture yourself wearing your REALTOR® pin and knowing it represents being part of an industry that is not only making home happen for Canadians but also committed to creating a better tomorrow for all. This is the big idea behind the Canadian Real Estate Association’s (CREA) recent adoption of social purpose, building on the positive contributions REALTORS® are already making every day.

About social purpose

Social purpose is a growing governance best practice for organizations of all kinds, including associations. Not to be confused with vision or mission statements, legal responsibilities or goals, social purpose is an organization’s reason to exist while optimally contributing to the long-term well-being of all people and the planet. A social purpose statement is tied to the core of the organization and is essential to its culture and how it operates. 

There are many benefits and a strong business case for associations like CREA to be purpose-driven, including: 

• ensuring long-term relevance; 
• demonstrating leadership; 
• raising brand visibility and enhancing reputation; 
• attracting and engaging members; 
• fostering collaboration with partners; 
• attracting board members and staff; and 
• supporting members in their own quests for purpose.

CREA’s new social purpose statement

Two years ago, following direction from the CREA Board of Directors, CREA’s ESG (Environmental, Social and Governance) Committee set out to define a social purpose for the association. The Committee engaged leading Canadian social purpose expert Mary Ellen Schaafsma of Purpose Pathways Consulting for guidance and oversaw an eight-month process that involved consultation, discussion, and collaboration with fellow REALTORS®, board and association staff, and external stakeholders. 

Through engaging workshops and interviews, these members and stakeholders were consulted on what CREA and its membership offer the world, what the world needs, and the intersection between the two. They were asked for insights on how CREA could use its core competencies and assets to make the best possible impact for the benefit of its REALTOR® members, their businesses, their communities, and the world around them. The input they provided was analyzed and core themes emerged, which were then refined into an overarching statement and underlying narrative.

In early 2024, CREA unveiled its new social purpose statement: CREA opens doors to thriving futures for all, beginning with home. It’s premised on four fundamental beliefs:

1. housing is a human right; 
2. home fosters human dignity and belonging; 
3. a healthy environment is critical to a thriving future; and 
4. collaboration is the key to unlocking positive change. 

CREA’s purpose journey continues

While the activation and integration of CREA’s new social purpose will be a long-term journey, CREA’s volunteer leaders are already appreciating the preliminary impact of this new “North Star” for the association.

For Amar Badh Singh, ESG Committee member, it validates his own personal purpose and strengthens his feeling of connection with the greater REALTOR® community. “For me, being a REALTOR® has always been about more than just helping clients buy and sell homes,” Badh explains. “CREA’s new social purpose really resonates with me and inspires me to continue doing my part to build community rooted in resilience and optimism.”

For James Mabey, CREA Board Chair, social purpose has already proved to be a valuable decision lens and reminder of our association’s values. “Our new social purpose statement helps expand our Board’s thinking about what we REALTORS®, our stakeholders, and our partners can do together to make the positive changes we want to see in the world. We added the social purpose statement at the top of every Board meeting agenda package, apply it to key discussions at the board table, and we’re looking forward to having it front and centre during our strategic planning later this year.”

The announcement of CREA’s new social purpose has also drawn attention from outside of the industry. “CREA has taken a bold step by adopting their new purpose,” says Coro Strandberg, President of Strandberg Consulting and one of the Founders of the Canadian Purpose Economy Project, which aims to accelerate Canada’s transition to the purpose-driven economy. “This could pave the way for social purpose to flourish in the real estate sector, driving social outcomes in communities, one homeowner at a time.”

Learn More

To follow CREA’s social purpose journey and learn about ways to get involved, visit CREA.ca/purpose.

Environmental, Social and Governance (ESG) factors are increasingly important considerations for occupiers, tenants, managers and investors in Canadian real estate. At the building and portfolio level, we see increasing demand and regulatory pressures for disclosure of building performance, physical climate risk and social impacts including physical accessibility and inclusion.

B Corp framework to bring ESG goals into real estate business strategy

ESG can be integrated into any business operations and marketing context. The essential ingredients are measurement of current state performance and identifying smart, actionable activities to create a pathway to get your business to a more progressive place.

One of the best frameworks that I’ve seen for bringing ESG goals into business strategy is defined by B Corp.

B Corp stands for “Benefit Corporation” and is a corporate certification process that brings social and environmental business best practices together with a rating system. B Corps that you may know include Patagonia, Business Development Bank of Canada and Bullfrog Power.

ESG value propositions in real estate: Measure, categorize, discover, decide

In the Canadian real estate context, ESG-based value propositions can assist in differentiating your business and creating genuine benefits for the communities that you work in. 

Many Realtors are community leaders with businesses integrated into the fabric of their community. This can manifest as sponsorship of local sports teams, contribution to community fundraising, support of local community groups and active volunteerism.

As a result of the community-centricity of many real estate practices, introducing ESG factors into your real estate value proposition and strategic goals can begin with:

1. measuring your current contributions to the community,

2. categorizing these into Environmental, Social and Governance and

3. discovering and deciding how to include these important contributions that benefit your community in your value proposition and marketing.

Competitive industry advantages

To get insights into the importance of ESG at a marketplace level, I reached out to Philippe Bernier, executive vice president, strategy and growth at JLL Canada. Bernier focuses on knowledge and advice regarding asset renewal toward decarbonization. 

He points out, “Every property, whether residential or commercial, has a defined set of local competitors, properties that compete against one another for tenants or buyers. Today, there is also a limited supply of decarbonized buildings and a clear gap relative to demand.

According to Bernier, when it comes to tackling carbon emissions, there are clear competitive advantages: “A building will better compete to win high-quality tenants and will improve bid depth and liquidity at time of sale. Furthermore, decarbonized buildings are increasingly more attractive to both appraisers and lenders,” he explains.

Global supply gap of low-carbon buildings shown in major Canadian commercial markets

ESG in buildings is measured with emphasis on energy efficiency and operational carbon emissions, and with growing attention to embodied carbon from materials selection. The conversation about physical climate risk is also increasingly included in ESG measurement. Occupancy benefits are often reflected in increased tenant comfort, satisfaction and well-being, as well as in improved employee attraction and retention.

According to JLL Research, there’s a global supply gap of low-carbon buildings, which is reflected in Canadian commercial marketplaces such as Toronto and Vancouver. For example, the group notes that 89 per cent of Toronto’s top occupier base for office have publicly committed carbon-reduction targets, and 59 per cent of known demand will not be met in 2030 if no further action is taken to accelerate retrofits and low-carbon construction.

This unmet supply gap demonstrates an ongoing need for accelerated new build and retrofit commercial spaces to meet existing and emerging demand. 

Key value prop: Help clients understand an asset’s energy efficiency, carbon emissions & decarbonization potential

When we think of the highest and best use for a property, we often think of maximum rent production or optimal market resale valuation for any given location. Conventionally, we might consider this at a maximum square footage, retail frontage or marketplace-aligned finishing level.

Bernier proposes that helping clients understand their asset’s current energy efficiency and carbon emissions, as well as decarbonization potential, is an important ingredient to the value proposition of today’s real estate practitioners. 

“Real estate investors with core, value-add and even opportunistic holdings can unlock additional value through purposeful carbon-emission reduction strategies. With well-timed operational and capital investments, owners can reduce whole-life costs, reduce risk and help buildings and portfolios stand out against the competition,” emphasizes Bernier.

He explains that the commercial marketplace understands this well, and many office, industrial, retail and multi-family investors also care deeply.

Essential to ‘understand basic energy consumption, carbon emissions & environmental & social building certifications’

“Low-carbon buildings are now a requirement of leading tenants, and accelerating supply is a priority for long-term investors. Put simply, decarbonized buildings perform better and are more comfortable for occupants,” says Bernier.

“For every real estate practitioner, understanding basic energy consumption, carbon emissions and environmental and social building certifications is essential.”

Bringing ESG into your real estate practice is important to your clients. There are strategic reasons to take advantage of this marketplace shift, to measure your positive contributions to society and to help your clients create greater future real estate value through progressive asset renewal oriented to decarbonization, resilience and accessibility.

The advice you give will vary based on where you are in Canada. Each jurisdiction is subject to integration with existing power distribution networks, weather patterns and physical natural hazards.

As an expert practitioner in your marketplace, there may be opportunities that are particularly relevant to your clients. Aligning your real estate value proposition to include ESG-based performance targets is easy and is a way to frame the community benefits your business already contributes. 

To learn more about marketplace trends, consult JLL’s research library. To learn more about high-performance buildings, consult your local chapter of the Canadian Home Builders Association, Passive House Canada, the Canada Green Building Council and Natural Resources Canada.

Close proximity to transportation = desirable housing

A classic equation for property valuation in any real estate market. But how does this model stand in today’s changing world, with the rise of remote work and growing concerns about energy sustainability?

Toronto: The ‘worst transit infrastructure for its class and size’

Peter Jordon, a real estate broker with Century 21 based in the Greater Toronto Area (GTA), shares what he’s currently noticing with clients:

“I’m definitely seeing more interest in properties with close proximity to public transit like the GO station, and that will always be the case, I think,” he says. “Who wouldn’t want access to good transit infrastructure?”

But not all transportation options are built equally.

“Toronto probably has the worst transit infrastructure, for its class and size, that I’ve seen,” continues Jordon. “It was built for a population of 500,000, and now we have over six million people in the GTA. It’s not a well-functioning system; it’s gridlocked. If you were to break the city into quadrants to get from one section to the other, it would take hours, maybe all day.”

A reason for unprecedented unaffordability: We weren’t ready for it

With Canada’s population expected to grow anywhere from about 25 to 40 per cent by 2046, a variety of transportation options will need to be readily available to service this influx. And with more people, naturally, comes more need for housing. 

Lee Haber, founder of Cambria Consulting, has spent much of his career on policy research and messaging when it comes to issues around transportation and urban planning.

“I think one of the reasons we’re experiencing an unprecedented lack of affordability is because we weren’t ready for it,” comments Haber. “We didn’t have the systems in place to allow for more housing and infrastructure to be built at the pace required.” 

350 km B.C. rail network could facilitate housing for 25% of region’s expected growth

Through his work with Mountain Valley Express, a non-profit group that aims to bring a regional rail network to southern British Columbia, Haber is hopeful that we can put better systems in place than the ones laid out by previous generations.

“The second best time to plant a tree is today,” he reflects. “The province (of British Columbia) is putting in place policies that will allow for much more housing and we can put in place mechanisms where we can accelerate transit expansion by leveraging the value of development around new stations using similar mechanisms as those employed in Asia.”

An analysis conducted by Haber’s team determined that if British Columbia’s Transit Oriented Areas (TOA) policy were applied to their proposed 350 km regional rail system, around 440,000 people could be housed near these stations —  addressing at least 25 per cent of the region’s expected growth.

“Regional rail has the opportunity to enable sustainable, compact development at a meaningful scale,” says Haber.

Public transit use highest in areas with balance between ‘moderately affordable housing and moderately good transit’

From a municipal transit perspective, after a decade of working for TransLink, Denis Agar is now tackling these issues as the executive director of Movement, a non-profit organization advocating for better transit in Metro Vancouver.

A 2022 study from the University of British Columbia explored the impact of rapid transit expansion on housing prices. It found that expanding rapid transit benefits households of all income levels, but the group that benefited the most was high-income earners.

“It’s no secret that housing is more expensive in places with better public transit access,” comments Agar. “When choosing a home, you have to decide whether to spend more on housing so you can save money by driving less, or vice versa. The average cost of even a used car in B.C. has surpassed $40,000, so more people than ever are trying to reduce their (vehicle) use.”

Agar has been keeping a close eye on the correlation between public transportation and real estate prices in the Metro Vancouver area.

“What we’re seeing is that ridership is growing fastest in the parts of the region that have frequent bus connections to SkyTrain. These are likely places where people are finding a balance between moderately affordable housing and moderately good transit. But these frequent buses like the 49 and 323 are overcrowded, unreliable and often leaving people behind.”

Bus-priority streets and rail lines connecting to majority of homes: ‘Governments assume voters don’t want it’

Is there a solution to this transportation conundrum? With the upcoming provincial election in October, Agar believes that the ball is in the government’s court.

”When governments provide funding to expand frequent, fast, reliable transit to more places, it increases transit-friendly options for home hunters. Imagine a future with an expansive network of bus-priority streets and rail lines connecting to a majority of homes in the region. The only reason this hasn’t been funded yet is because governments assume that the voters don’t want it. We need to tell them otherwise.”

The classic equation of “close proximity to transportation = desirable housing” still appears to hold strong, despite the challenges faced in today’s current market. It requires, however, an openness to new opportunities in order to find more viable long-term solutions. 

“If you open up transportation to new places, it opens up those places for population growth and housing development,” notes Jordon. Because no matter how you solve the equation, a more accessible world is also a more connected one.

The real estate sector is undergoing a transformative shift, driven by technological advancements collectively referred to as “proptech” (property technology). These innovations are reshaping how we live and work, emphasizing sustainability, data-driven decision-making and adaptability to new lifestyle preferences.

Insights from industry experts Philip Major, investor associate at R-LABS, and Lynette Keyowski, managing partner at NAR REACH Canada, shed light on the evolving landscape of proptech and its impact on both residential and commercial real estate.

Adapting to new lifestyle preferences

Post-pandemic, the rise of remote work has significantly altered residential and commercial real estate demands. Major observes, “Remote work can alleviate density and affordability issues in urban areas. On the commercial side, the winners will be those who can optimize unused spaces.” He cites LOFT, a company offering flexible office spaces throughout cities, as an example of how businesses can adapt to these changes without relying solely on central business districts.

However, converting commercial spaces into residential areas, although a popular idea, poses significant logistical challenges. “It’s not always feasible or profitable,” Major notes. Instead, there’s a trend towards luxury rentals and condominiums that incorporate amenities such as daycare centres, restaurants and other services directly into the building, catering to the evolving lifestyle preferences of urban dwellers.

Sustainability and energy efficiency

The drive for sustainability is becoming increasingly prominent in real estate, particularly in commercial properties. “LEED certification will continue to be a major trend, driven by tenant demand,” says Major. Tenants with strong Environmental, Social and Governance (ESG) initiatives are likely to prefer sustainable buildings, which can influence property values and development costs.

In this context, companies like Measurable, which tracks carbon emissions, are becoming essential. Developers are now considering the entire lifecycle of buildings, including end-of-life recycling options, to enhance the sustainability of projects.

Leveraging data and AI

Data-driven decision-making is revolutionizing real estate investment and management. Keyowski highlights a significant trend in the 2025 REACH Canada cohort: “AI is being leveraged to reduce costs, automate routine tasks and enhance backend processes.” This trend spans across the industry, supporting the personalization of real estate services, from property valuations to virtual tours.

Keyowski also mentions the “Netflixization” of real estate, where data is used to tailor user experiences. This trend makes the homebuying process more interactive and personalized, improving how consumers engage with listings and agents.

Major adds, “Commercial real estate will move slower to adopt AI compared to other industries, but this won’t stop AI from happening.” He highlights how companies like Hatch are acquiring AI-driven platforms such as Brainwave’s Mosaic to help developers understand zoning regulations and other complex data points. “It’s about pulling in multiple points of data, like zoning and school capacity, to centralize information and optimize property investments,” Major explains.

He also sees potential in AI democratizing the development process: “It could reduce costs and make the process more accessible, although the extent of this democratization remains to be seen.”

Addressing housing affordability

Affordability remains a critical issue in the real estate market, and alternative financing options are emerging as a solution. Keyowski notes, “Along similar lines, we have been seeing a surge in the number of ‘alternative financing’ options come to market. With affordability at all-time lows, these are just beginning to hit the radar of the industry but aren’t anywhere close to top-of-mind for the average consumer.”

These tech-enabled solutions aim to keep borrowing and administrative costs low, offering diverse options from Halal mortgages (Manzil) to creative down payment financing (Ourboro) and leaseback home purchases (Requity Homes).

Under-the-radar innovations

Despite widespread technological advancements, some tools remain underutilized by the broader public. Keyowski explains, “There are many backend tools, like online MLS systems and showing suites, that facilitate seamless real estate transactions.” These tools often go unnoticed by consumers but are crucial for the industry’s efficiency.

Moreover, there are innovative solutions not yet widely adopted but with the potential to streamline the homebuying process. Keyowski points to digital mortgage platforms and offer transparency tools, which can make real estate transactions faster and more transparent. “These tools expedite the process, but the industry is often reluctant to adopt them,” she adds.

Challenges and opportunities for traditional real estate players

Integrating new technologies into traditional real estate models presents challenges. Keyowski emphasizes the importance of understanding one’s value proposition: “Real estate is a relationship business. The clearer you are about your value, the more efficiently you can adopt technology that enhances that value.”

AI, while promising, introduces both opportunities and uncertainties. “On one hand … AI is allowing more to be done with less (and in less time). Real estate is about relationships … but it’s also about volume. This has the potential to create more competition among agents: for eyeballs, for listings, for differentiation, for partnerships and more. The ability for agents to reach their audiences faster and more effectively could impact business models and market share,” Keyowski notes.

However, the industry’s slow pace of change and potential regulatory hurdles may temper AI adoption. “On the other hand, there is no knowing (yet) how the space will be regulated, if at all. As it always does, this could certainly impact the rate of adoption — or even temper adoption until those frameworks are clearer. This is not an industry that moves fast at the best of times!”

Consumer readiness for change

One significant shift is the consumer’s readiness for digital transactions. A decade ago, some consumers were hesitant to put their credit cards online or engage in online banking. Now, it’s considered standard. The consumer in real estate has similarly evolved, having become extremely comfortable transacting digitally where there’s an element of immediacy. As Keyowski observes: ‘’I see what I want, I can access as much information as I deem necessary and I can make a decision and execute in almost everything.”

However, real estate transactions remain cumbersome and opaque. Keyowski illustrates this with a common scenario: “As an example, what the heck DOES happen to that agreement for purchase once you’ve signed it and “sent it back” to your agent? Who sends it to my mortgage broker? How’d the lawyer get involved? Didn’t they say you’d see the deal back in two days? It’s been a week …”

Proptech solutions are addressing these issues by providing transparency and efficiency throughout the transaction process.

Embracing the future of real estate

The proptech revolution is fundamentally changing the real estate landscape. From optimizing unused spaces and enhancing sustainability to leveraging data and AI for better decision-making, these technologies offer significant benefits. However, the industry’s traditional players must navigate challenges related to technology adoption and value proposition clarity to stay competitive.

As Major aptly puts it, “Darwinism is alive and well in real estate.” Those who adapt and innovate will thrive in this new era, while those who resist change may find themselves left behind. The future of real estate lies in embracing proptech to meet evolving demands and create more efficient, sustainable and personalized experiences for all stakeholders.

With rising concerns about global warming, carbon footprints and dwindling natural resources, energy efficiency and sustainability have become top priorities in nearly every modern industry, and residential construction is certainly no exception. However, many modern home builders find it challenging to keep up with complicated sustainability and energy efficiency standards without the proper tools and construction protocols.

Fortunately, many cutting-edge tools are available to help design and construction firms better understand green building practices. One such revolutionary technology is building information modelling, or BIM for short. Although BIM was initially developed for commercial building projects, its usefulness has also found its way into the design and construction of private homes and residences. 

Leveraging BIM for sustainable building design and construction practices

Just like the construction industry itself, BIM technology is constantly changing and evolving to current building trends and new standards. As time goes on, BIM is seen as more of a process than a just tool. 

Though BIM’s primary function is to use data to create 3D models and detailed building schematics, its uses now also incorporate project management, collaboration among stakeholders and environmental code compliance, all of which are essential to successful residential construction projects. 

Environmental standard compliance

In 2015, the Canadian Home Builders’ Association (CHBA) introduced the Net Zero Home Labelling Program to minimize the environmental footprint of modern homes by establishing a set of guidelines for environmentally-friendly building practices. While complying with these standards is technically optional, adopting them benefits everyone involved in designing, building, selling and inhabiting a residential facility. 

When a home meets certain “green” standards, it qualifies to receive a certified rating that reflects positively on the construction firm that built it. Additionally, a certified rating is also a major selling point for a home, attracting environmentally-conscious buyers. Finally, when a resident moves in, a certified green home can give them peace of mind, knowing that they aren’t needlessly wasting energy on everyday use. 

According to the CHBA, “Net Zero Ready is applied to homes that have energy performance levels between 50 and 80 per cent better than homes built to the applicable standard building code. The first tier of labels, Net Zero, is reserved for homes that are 100 per cent more energy efficient than ones built to the applicable code. Homes produce as much energy as they consume and feature filtered fresh air systems and water-saving technology.”

BIM can play a major part in helping a residential construction firm obtain a certified rating by preemptively predicting energy consumption during and after the residential building is completed. An architect or engineer can set desired efficiency parameters within a BIM software environment, and BIM can generate construction documents and models that facilitate them. 

Calculation of energy and water usage

Sustainable construction relies heavily on keeping a close eye on the levels of energy and water used to complete a project. BIM can record consumption data and generate predictive strategies to ensure maximum efficiency.

Electricity

With modern battery and brushless motor technology innovations, electric tools are more efficient than ever. Drills, cement mixers and even heavy construction equipment like bulldozers and diggers are all powered by batteries. 

Though tool electrification certainly has its benefits, eventually, batteries need to be recharged, which presents a challenge in the early phases of construction when the site has not yet been connected to the power grid. BIM can help project managers keep track of power usage to see where energy can be saved, minimizing the need for diesel or gasoline-powered generators. 

Water

Water consumption typically represents a marginal portion of an overall construction budget in most areas. However, in states prone to droughts and water shortages, extra attention must be paid to the amount of water used during the building process.

In the planning phase of a project, BIM can help allocate appropriate amounts of water needed for construction components like concrete. Additionally, with the assistance of on-site sensors, water usage can be monitored to further minimize waste. 

Optimizing resource management in residential construction with BIM

Resource management is an often under-calculated aspect of the construction process that directly impacts the ability to stay within budget and build sustainably. With BIM, designers can create data-filled models that can provide project managers and estimators with everything they need to make data-driven decisions.

Pre-construction planning

In the planning and design phases of residential construction, an architect or engineer can leverage BIM to create highly detailed 3D models with information regarding every building component, from roofing rafters down to tiny screws. This high level of detail facilitates precise quantity takeoffs and cost estimation, saving both time and funds. 

Non-monetary resource management

The resources needed to construct a residence successfully go far beyond monetary assets. Natural materials like lumber, iron and stone all contribute to a beautiful and structurally sound home. However, these natural resources have been in short supply in recent years, resulting in higher prices and limited availability.

Thanks to an ever-expanding library of material data, designing a home or apartment complex with BIM gives an engineer more flexibility to explore synthetic materials that are often stronger and longer-lasting than their natural counterparts.

How can real estate professionals promote properties designed and constructed with BIM? 

Homes designed with BIM give realtors a unique marketing opportunity. Providing a data-filled virtual model to a client makes highlighting the benefits of specific “green” aspects of a home easy. Additionally, real estate professionals can use BIM’s 3D features to show structural details that would otherwise be invisible.

Here are a few strategies realtors can use to market a BIM-built home:

Educate clients. If a realtor wants to make BIM stand out as a selling point for a home, potential buyers must understand what building information modelling is and its relationship to improved energy efficiency, maintenance costs and building quality. Before listing a residence, real estate professionals should take the time to explain these details to their clients.

Leverage BIM data. Sometimes, potential buyers want to know all the tiny details before purchasing a home. Realtors can use BIM data to provide information regarding precise dimensions, building materials and specifications.

Virtual tours. Potential homebuyers often feel overwhelmed and sometimes pressured during traditional home showings. However, 3D models can be viewed anywhere from mobile devices like phones, tablets and VR headsets, giving buyers the freedom to take as much time as they need to explore the intricacies of a home.

Embracing BIM for a sustainable and efficient future

As residential construction rates increase, the necessity for eco-friendly building practices has never been more important. Fortunately, BIM is helping builders and real estate professionals build greener homes and fill them with environmentally-minded buyers, promoting a more sustainable future in residential real estate.

The Real Estate Foundation of BC (REFBC) has been making grants to support non-profit organization-led projects since 1988. As a philanthropic organization, they support sustainability, equity and social justice in five priority areas: Land Use, Fresh Water, Built Environments, Food Sovereignty and Real Estate Profession.

However, the nuances of the complicated relationship in Canada between the real estate industry and Indigenous Peoples are not lost on REFBC. Through their work, they’re actively committed to supporting reconciliation and working in partnership with First Nations communities.

We sat down with their chief executive officer, Mark Gifford, to learn more about REFBC’s current projects, how they navigate reconciliation with Indigenous Peoples and his hopes for the future of real estate in Canada — including how realtors can contribute to the path moving forward.

REM: Can you give us some insight into the work you do within the Real Estate Profession priority area?

Gifford: “There are a few different ways we work with the real estate profession. Certainly, the grants support advocacy, education and policy work. We have a dedicated funding stream for the real estate industry that’s meant to support and advance education and policy initiatives.”

REM: Where does the REFBC grant money come from?

Gifford: “When a deposit is made on the purchase of a residential property in B.C. and placed in a brokerage trust account, it earns a little bit of interest. Financial institutions are required to remit this interest to REFBC. It’s a bit of a cool funding aspect of REFBC, as it’s a creative and innovative way to create some public benefit out of real estate activity.”

REM: How does REFBC address the gap between Indigenous reconciliation and colonial land practices still in use today, such as The Doctrine of Discovery and Terra Nullius?

Gifford: “The real estate industry and real estate agents have been primarily focused on ensuring that transactions inspire confidence, protect interests of buyers and sellers and are in compliance with current law.

The tension that exists is between industries operating within a colonial framework and the relationships with underlying rights and title of First Nations in B.C. It’s not lost on us that our money story is rooted in the sale and trade of properties on unceded territories.

We see advancing the United Nations Declaration on the Rights of Indigenous Peoples and recommendations of the Truth and Reconciliation Commission through our funding, operations and governance as important ways we can begin to listen, learn and build respectful relationships with First Nations in B.C.”

How REFBC supports and empowers Indigenous communities through grants

REFBC uses grants in two ways to support and empower Indigenous communities:

1. Indigenous Grant Stream. As a new funding stream for REFBC, The Indigenous Grant Stream supports Indigenous-led projects as directed by the Indigenous Community Leaders Circle (ICLC). The ICLC has approved a first round of $800,000 in grants to support 16 land-based projects, at $50,000 each.

2. Indigenous-led organizations and projects support. Through either general or Indigenous grants, REFBC supports various organizations and projects related to their five priority areas. Some of those within the Real Estate Profession include a housing strategy from the Aboriginal Coalition to End Homelessness Society and workshops for prospective realtors from Seabird Island Band (Sq’éwqel).

What realtors can do

There’s still a long path ahead for Canada when it comes to reconciliation. But, Gifford is hopeful about the future of the real estate industry and its relationship with Indigenous communities. “One of the things that I’ve been encouraged by is seeing more people really take a step back and try to think about what reconciliation with First Nations can look like,” he mentions.

If you’re a realtor seeking to learn more but are unsure of where to even start, Gifford has some advice: “It can be as simple as looking back and thinking about where you work and acknowledging the territories (you’re) working on,” he says. “Ask yourself: ‘What is the story of my backyard?’ as it connects to First Nations communities.”

He continues, “There are brokers and realtors realizing that we have shared common interests with our host nations, whether it be development, housing or real estate. It’s not necessarily an antagonistic relationship, but one that needs to be developed with mutual respect and curiosity.

The credibility of the real estate profession can only be strengthened if that’s done in ways that are thoughtful and curious and with some humility.”

British Columbia is known in equal measure for both its stunning natural landscape and burgeoning real estate market. With climate change and sustainability top of mind for many, how can developers and builders create the built world around nature rather than demanding change against it?

What’s happening on the ground

Karin Eger-Blenk, CEO of Blenk Development in Kelowna, is working towards a greener vision for the future of homes with Wilden, the largest master-planned real estate development in the Okanagan Valley. Spanning over 1,500 acres, the project sits on a mix of hillside and flat land.

“We are planning to build to minimum Step Code 4 (of the BC Energy Step Code), working strongly towards sustainability,” says Eger-Blenk.

“We want our project to blend visually with our strong natural environment. The project is very much influenced by the nature here. We want these buildings to not stand out against the mountains, but blend with it.”

Chris Ballard, former minister of environment and climate change in Ontario, is now president of Passive House Canada — the national non-profit professional association advocating for the passive house high-performance building standard.

He shares his thoughts on how the real estate market has responded to sustainability trends: do terms such as “net zero homes”, “BC Energy Step Code” and “passive housing” result in a higher volume and price point in home sales?

“Generally, I find that if I were to stop 100 people on the street and ask them about net zero or passive homes, most people wouldn’t have a clue what I was talking about,” he mentions. “I’ve had both real estate agents and builders tell me they’ve never sold (a property) because it was a ‘passive house’, but rather because of attributes such as very low energy costs, high-quality indoor air and quieter homes.”

The greenwashing problem

Developers and builders should be mindful, though, when communicating these attributes to the general public. Greenwashing, sometimes even called “green sheen”, has been a growing marketing and public relations tactic where companies claim that their products or services are environmentally friendly — even if they’re not.

“The Canadian public is sick and tired of greenwashing,” expresses Ballard.

“One of the things I’m proud to say about the passive house building standard is that it’s backed by science. It’s proven and is a nice antidote to all of the greenwashing claims that are being made in the building environment today.”

What consumers want

Paul Davidescu, principal broker at Level Up Mortgages, furthers the conversation on how the average consumer might actually respond to sustainability trends when it comes to the real estate market.

“The market cares about saving money, from a consumer standpoint. They want to make their homes a passive home, but they’re really more focused on where rates are at,” says Davidescu.

So, what should real estate developers and home builders consider when planning for their future projects?

“The buildings of the future have to have a minimal ecological footprint. It’s not just how much energy is required to build and maintain, but also what we do with it at the end of its life cycle,” says Ballard.

Making the information on sustainable practices more accessible to the general public is also a key component in marketing this type of housing in today’s real estate market.

“Beyond more government incentives, a big thing is education,” elaborates Davidescu.

Eger-Blenk encourages others to embrace a similar vision that they’ve embodied with Wilden: “We have to move as fast as possible to net zero.”

What can realtors do?

Realtors can also consider certain marketing strategies that are both educational and ethical (to avoid greenwashing) if one of their listings is a net zero or passive home.

As Ballard mentions, focusing on the benefits and attributes, such as better air quality, will initially attract a potential buyer. Appealing to emotion, like describing the comfort and security this type of home can provide, might have more of an impact than focusing on scientific or technical information first.

However, a study earlier this year from Abacus Data, a Canadian polling and market research firm based in Ottawa, further highlights Davidescu’s comment that money is the most significant factor for people when making a purchasing decision.

Sixty-five per cent of respondents indicated cost savings as one of their top three reasons to buy an energy-efficient home. Realtors should consider how to make these cost-saving benefits more visible to potential buyers, such as by providing an energy bill cost comparison chart.

With time, the social impact of reducing their carbon footprint could also be a point of great pride for a homeowner — but we first have to get their foot in the environmentally-friendly door.