Monday, July 28, 2014

CADREB turns 50! Happy Birthday Chilliwack and District Real Estate Board!

HAPPY BIRTHDAY CADREB!   CADREB being the Chilliwack and District Real Estate Board is 50 years old as of today, July 28, 2014.

On this day, July 28 in 1964 a very special meeting was held at Chilliwack's Royal Hotel to confirm the formation of a co-operative listing organization and call it the Fraser Valley Real Estate Board. Nine offices of the local 13 real estate offices in existence were present. This newly penned board name would later be changed to the Chilliwack and District Real Estate Board after the adjoining Westminster County Board challenged Chilliwack's right to call itself the Fraser Valley Real Estate Board.  Never mind, on that day, 50 years ago, the motion to confirm the formation was carried and today CADREB extends from the Vedder canal to Boston Bar with over 269 licensed real estate agent members.  I thought it might be interesting on this the BIG 5-O to have a look back at the beginning.

With the exception of Wheeler Realty all other real estate companies from 1964 have disappeared with the passage of time.  Those founding Chilliwack/Agassiz real estate offices 50 years ago included:
  1. The Chilliwack Realty
  2. Canada Permanent
  3. Empress Insurance Agencies Ltd.
  4. S.M. Griffiths and Son Real Estate
  5. F. J. Heal Ltd.
  6. Home-Makers Realty & Insurance
  7. Ivan Hurndall Realty Ltd.
  8. Mainland Realty Ltd.
  9. McGaw Realty Ltd.
  10. Princess Agencies Ltd.
  11. Valley Realty Ltd.
  12. Wellington Realty Ltd
  13. John P Wheeler & Company 
John P Wheeler & Company real estate firm has evolved to become Royal LePage Wheeler Cheam Realty, an office where I hang my license.  It is the oldest real estate company in Chilliwack.

The world and the world of real estate were quite different in 1964.  Properties would have been sold on the strength of a handshake. Today, all contracts in land have to be in writing and 7 - 8 pages of carefully crafted terms and conditions are not unusual. There would have been a lot more face-to-face meetings as mobile phones, email, fax, and computer technologies were still decades away.  A lot of driving.  Finding the right property meant scouring the local Chilliwack Progress or dropping into one of the 13 real estate Chilliwack and Agassiz offices.  Contract would have been written in hand on carbon-copy paper so good hand writing was a necessity. Financing would have been more difficult and vendors carrying mortgages more common.

After a year of operation, 164 real estate listings had been obtained, 30 had been sold at an average price of $8,945.  The operational expenses of the "Board" amounted to $999.80.

I found these ads from the 1964 Chilliwack Progress:

Since, 1964 the Chilliwack and District Real Estate Board has seen a great number of advancements and is looking pretty good for a 50 year old.  Happy Birthday!

Imagine living here....

Stephen Mullock
is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales. Thinking of buying or selling real estate in the Fraser Cheam communities of Chilliwack, Agassiz or Harrison Hot Springs? Contact Steve (click here) of Royal LePage Wheeler Cheam Realty for experience, local knowledge and friendly service you’ll be happy you did.

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