OREA Introduces New Industry-Leading Benefits Program for All Ontario Realtors: Here’s What Many Realtors Think & The Controversy!

orea

orea

Delve into the details of the new program introduced by OREA for Ontario Realtors.

Some Ontario real estate agents might not be aware of the proposal made by the real estate organization to adopt a required insurance and benefits program for its members, which could be approved in a matter of days.

On June 20, the Ontario Realtor Wellness Program (ORWP) will be voted on by the Ontario Real Estate Association (OREA) assembly, which is made up of representatives from member boards. If passed, the ORWP will go into effect on January 1, 2024.

On the OREA website, members can view the proposed standard plan. For the past few months, a task team within the association has been investigating the program’s feasibility.

Learn impacts of the benefits and changes that we face as with real estate in Ontario.

Just for the record, we do oppose to this as, we are just relaying the information thats out there for those looking to learn more!

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Email: [email protected]
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OREA Introduces New Industry-Leading Benefits Program for All Ontario Realtors

ontario-realtors

ontario-realtors

A game-changer has arrived in Ontario’s real estate market. The Ontario Real Estate Association  recently introduced an industry-leading benefits program for all Ontario realtors. The goal? Empowering realtors with tools, resources, and benefits that push their business ahead and set a new industry standard. We’re going to get under the hood and dissect what this entails and why it’s turning heads.

The program would be the first of its type in North America, president Tania Artenosi explained in a message and video delivered to local boards a while back. According to surveys, a disproportionate number of OREA’s members do not currently have private health insurance, and Artenosi points out that a safety net is one of their top priorities.

“We are aware of the tremendous pace of this. However, we don’t want to put off providing our members with the assistance they require any longer.

The Vision Behind the New Program

ontario-realtors

This initiative didn’t just fall out of the sky. The  leadership had a clear vision in mind to support realtors, driving innovation and growth within Ontario’s real estate industry.

Breaking Down the Components of the OREA Benefits Program

Every great program has key elements that make it tick. Let’s break down the different components that make the OREA Benefits Program a force to be reckoned with.

All province members will have access to the proposal if it is authorised. Participant eligibility will not be determined by a medical examination or questionnaire. In the video, Artenosi says, “That’s big.” Members with pre-existing medical conditions are not eligible for critical illness insurance payouts for those conditions, although they are still eligible for other features of the regular plan, such as prescription coverage for those conditions.

The program will cover accidental death and dismemberment insurance, critical illness insurance, out-of-country emergency medical travel insurance, and life insurance. Additionally, there is a member and family aid program that offers virtual mental health help in addition to healthcare coverage, which includes prescription medicine coverage with a $750 cap, paramedical services coverage with a $750 cap (such as massage and chiropractor visits), and medical supplies coverage with a $750 cap.

Cutting-Edge Tools

Learn about the advanced tools OREA provides to realtors, helping them perform their jobs more efficiently and effectively.

Unparalleled Resources

OREA’s program provides resources that help realtors navigate the complex real estate industry with ease.

Generous Benefits

Find out about the generous benefits that come along with the program for all Ontario realtors.

How OREA’s New Program is Setting the Industry Standard

OREA isn’t just changing the game; it’s setting new rules. Here’s how their program is creating new standards in the real estate industry.

Enhanced Realtor Support

Find out how OREA is raising the bar in terms of support for realtors, and why this matters.

Impacting Real Estate Practice

Discover how this new program will change the way realtors do business.

Realtor Perspectives on the OREA Benefits Program and Controversy

The annual cost per member is anticipated to be around $660.

Members seeking improved coverage at their own expense will have access to additional alternatives for dentistry, vision, and other services. Families of real estate agents, board members, and employees of brokerages will reportedly be allowed to join the program if they so choose for an extra fee.

Herein is the problem and controversy.

If approved, the ORWP basic plan will be required for all OREA members, and all current/new members will pay the same, regardless of age. “Offering a plan of this calibre at such a low cost requires the buying power of 96,000 members,” Artenosi adds in her video message.

Follow us for more information and learn how realtors in Ontario are reacting to the new program, and how it’s impacting their work.

Real-Life Impact on Realtor Business

Hear stories about the tangible impact the program has had on realtors’ businesses and there careers! It’s just not suitable for many, realtors say! Hence, why realtors are in controversy regarding this!

Navigating the OREA Benefits Program

For those ready to dive in, we provide a guide on how to navigate the new program. You can click the link below to learn more directly from Ontario Real Estate Association.

Click here! 

Getting Started with the Program

A step-by-step guide to help realtors get started with the new benefits program. Click here! 

OREA’s Impact on Ontario’s Real Estate Industry

The new program is just one of the many ways OREA is making a impact on the real estate industry in Ontario.

By providing all 96,000 Members with “affordable” and sustainable access to valuable health and wellness coverage beginning January 1, 2024. Nearly 80% of the votes from 34 Member Boards across the province were in favour of this historic yet controversial program at a Special Meeting of the Assembly held on June 20, 2023.

The Standard Plan also provides access to life, critical illness, emergency medical travel outside of the country, and accidental death and dismemberment insurance.

Click here! 

OREA’s Previous Initiatives

Look back at OREA’s previous initiatives and how they have paved the way for the current benefits program.

FAQs

What is the OREA Benefits Program?

It’s an industry-leading initiative introduced by OREA to provide realtors in Ontario with advanced tools, resources, and generous benefits.

Who can access the OREA Benefits Program?

All realtors  in Ontario can access the program.

Why did OREA introduce this new program?

OREA introduced this program to support realtors, stimulate innovation, and set new industry standards. The new Ontario REALTOR® Wellness Program will provide a safety net to support Members during challenging times, as they mention on there website!

How can I get started with the program?

You can get started by visiting the OREA website and following their step-by-step guide.

What impact does the program have on Ontario’s real estate industry?

The program enhances realtor support, impacts real estate practice, and sets new industry standards. Yet, there is still major controversy surrounding the topic!

Conclusion

The new OREA Benefits Program is much more than a mere addition to Ontario’s real estate industry. It’s a major shift in how realtors operate, providing tools and resources designed to help them excel. 

For more information on OREA updates reach out to us or subscribe to our blogs!

Phone: 416.578.5973
Email: [email protected]
Website: StevenSarasin.com

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