Greetings from the Amalgamation Task Force (ATF). It has been a busy time since we announced at the end of January that the final of the four amalgamating boards had voted to become the Cornerstone Association of REALTORS® (Cornerstone*).

Since then, the operational staff team has ramped up their efforts to provide a smooth transition as we approach July 1, 2024, when the associations of Hamilton-Burlington, Mississauga, Simcoe and Waterloo Region will become one.

We are making great progress towards our amalgamation date, including a two-year transition management plan to ensure a unified experience for all members.

The ATF is overseeing this process and diligently putting the puzzle pieces in place in preparation for the inaugural Board of Directors on July 1, 2024.

What will happen to the MLS® System on July 1st when the Cornerstone Association of REALTORS® launches?

On July 1, 2024, the Cornerstone MLS® System will be the one you currently use – Matrix™. Ensuring a stable platform is critical out of the gate so that you will experience no substantial changes. 

What’s the update on the MLS® System collaboration with ITSO?

Since three of the amalgamating associations are ITSO members, the ATF has had some deep conversations to determine the path to a unified MLS® System. We have identified synergies between our two groups through diligence and collaboration with ITSO. 

From the beginning of this process, we have been open and transparent with ITSO, and through this foundation of trust, we have reached some mutual understanding and agreements.

At the same time, the ITSO leadership has also done their due diligence to prepare for their future as the service agreements between ITSO and their Member Associations are set to expire at the end of this year.  

What’s the outcome of the collaborative efforts?

We are excited to share that Cornerstone and ITSO will collaborate to provide enhanced services to all of ITSO’s Member Associations. In simplest terms, rather than ITSO managing the MLS® System directly, Cornerstone will manage the day-to-day operations of the MLS® System. It also means that our mutual commitment to seek dynamic, responsive and creative solutions together has paid off.  

ITSO and Cornerstone share the same vision for real estate in Ontario – strong professionalism and a robust MLS® System with high-quality and comprehensive data that enables REALTORS® to provide consumers with the information they need. 

How will the Cornerstone+ITSO collaboration work?

This collaboration recognizes that Cornerstone will have more resources available to enhance members’ services than ITSO can provide alone. Combining Cornerstone’s knowledge and expertise in MLS® System operations with ITSO’s brand and reputation for professionalism and data integrity is a win-win path forward. 

ITSO and Cornerstone will work together to maintain the rules and policies related to the use of the system. ITSO will continue to provide rule interpretations to Member Associations to ensure consistency in the application and enforcement of the rules.

ITSO has already made significant headway in ensuring that the MLS® Rules and REALTOR® Code are enforced in Ontario consistently for over 10,000 REALTORS®. ITSO will continue to provide enforcement of the Professional Standards Complaints (PSC) Policy and Arbitration Policy for Member Associations that delegate that authority to ITSO.  

What else is on the MLS® System horizon for Cornerstone?

The ATF has also approached PropTx, the company that provides the Realm multi-list platform to TRREB members, for a meeting to review their system and determine what opportunities exist. We appreciate that we will be operating in close proximity and need to ensure that any real or perceived barriers are mitigated. The ATF is looking at the immediate and long-range future, so they don’t leave any stone unturned.

How do I stay informed on the latest news?

The ATF will continue to provide members with regular updates regarding our amalgamation efforts.