OTTAWA, Feb. 20 /CNW Telbec/ - Real estate agents in the province today
kicked off celebrations to mark the 50th anniversary of the New Brunswick Real
Estate Association (NBREA). Originally called the Association of New Brunswick
Real Estate Brokers, the association had 26 charter members and an office in
Saint John. The first President was Saint John broker Paul Sherwood.
The first two goals of the new association were a membership drive and
the creation of license law legislation. That's because fifty years ago in New
Brunswick, there were no formal education or training requirements - anyone
could trade in real estate by paying $5.00 for a permit.
"The New Brunswick Real Estate Association was originally founded to
bring standardized licensing requirements and professional training to the
real estate industry," says NBREA President Don Ketchum. "These are two key
ingredients for public confidence in the real estate industry in the
Prior to the incorporation of NBREA, real estate in the province was
administered by the Real Estate Council for the Province of New Brunswick,
with members appointed by the Minister of Justice. The Council was established
to set some licensing criteria, and offer advice to the minister about
consumer complaints. The Council was disbanded when NBREA was created.
"Creating the current infrastructure and legislation was not an easy
thing," Don Ketchum explains. "It took almost ten years to put the Act
together. Our Association worked with government committees to plan the
transition, and to develop the Act and determine how the real estate system
was going to work in New Brunswick."
New Brunswick is unique compared to other provinces because of the
co-operative structure created. It provides for input and administrative
responsibility from both the association and the provincial government. It is
NBREA that develops and administers both pre-licensing education and testing,
and ongoing or mandatory professional education. It is the province that
actually licenses real estate agents, and the provincial Office of the
Registrar that handles complaints.
The new provincial association created in 1958 was closely aligned with
the national association, today known as The Canadian Real Estate Association
(CREA). The national association President in 1958 was Toronto broker Murray
Bosley, who strongly supported the new provincial group. He told the national
association that year it was absolutely essential to have better educated
people in the industry if there was to be greater public respect.
The housing market in New Brunswick was facing tough times in 1958. Land
prices were climbing and cities were having a tough time keeping up with
demand for services. The average cost of a new home was just under $10,000,
while the average price of a re-sale home was $2,500. According to the
magazine Canadian REALTOR(R), in the four years leading up to and including
1958, banks were approving mortgage loans at a rate of one every 17 and a half
minutes of every working day. At the same time the United States economy was
going through a major recession, fueled by a major jump in unemployment.
The creation of the provincial association also prompted brokers in
different regions of New Brunswick to formalize their association or real
estate Board, to allow for the introduction of a co-operative selling system
known as Photo Co-op. Today it's known as the Multiple Listing Service(R), or
For example, in 1958 the Greater Saint John Real Estate Board was
founded, with only seven members. Within a year the number of members had
doubled, and they launched a local Multiple Listing Service(R) or MLS(R)
licensed under the national trademark. The local real estate Boards in
Fredericton and Moncton were incorporated in 1963, and the Northern New
Brunswick Real Estate Board was incorporated in 1972. The Valley Board was the
most recent one established, incorporated in 1985 to serve REALTORS(R) in the
northwestern part of the province, including Edmunston.
The New Brunswick Real Estate Association today represents more than one
thousand REALTORS(R) throughout the province. The association serves its
members through a variety of educational programs, publications and special
events. Through private legislation, the association also provides all real
estate licensing courses, both pre-licensing and continuing education. The
NBREA was incorporated under the Companies Act of New Brunswick.
Some things about 1958, the year the New Brunswick Real Estate
Association was founded:
- The Conservatives under Premier Hugh John Fleming were in power in the
New Brunswick Legislature.
- The Conservatives under Prime Minister John Diefenbaker occupied the
government benches in the House of Commons in Ottawa.
- It was the year the federal and provincial governments tried for the
first time to prepare an inventory of the forests of New Brunswick.
- To see a movie: 90 cents for an adult, half price for children
- Gas was 25 cents a gallon
- Toyota and Datsun cars went on sale in North America for the first time
- The Wham-O company introduced the hula-hoop
- TV was in black and white, and Candid Camera and the Ed Sullivan Show
were two of the most popular programs. In Canada, it was Hockey Night
- With the launch of the Boeing 707 jetliner, international jet service
- Anew Ford Edsel Corsiar cost $3,500 and the Studebaker Starlight
President was $2,710 new.
- Campbells Tomato Soup was 10 cents a can
- Sirloin Steak sold for 55 cents per pound
For further information:
For further information: NOTE: Don Ketchum, the 2007 President of NBREA,
will be available for media interviews at the Delta Hotel in Saint John from
08:00 to 15:00 on February 21st, 2008. To arrange an interview, please contact
NBREA Executive Officer Jamie Ryan at (506) 440-2861.