Melanie Boles describes the Alberta Real Estate Foundation's impact in two words: Ripple effect.

"When I look at the involvement of AREF and their funding and grant support that we've received to better develop and work towards professionalism with our agents, this is a ripple effect," she says. "The ripple effect takes over, and we see it improve our agents, which improves how we serve our communities, which improves the overall professionalism of our industry."

Melanie is an associate broker in Edmonton and the past chair of the REALTORS® Association of Edmonton for 2023 and 2024. She's seen AREF's support from both sides, as a practicing REALTOR® and as a board leader responsible for growing the profession.

Since 1995, the Foundation has contributed more than $170,000 in funding to RAE. Most recently, a $5,000 grant went toward RAECON, Edmonton's industry conference, which RAE uses to advance professionalism and support the ethical development of its agents.

"Having AREF's involvement in that has allowed us to have breakout sessions and bring great information and initiatives to move our agents forward to better serve Albertans," Melanie says.

The funding goes beyond conferences. AREF has also supported director training and education for RAE's board of directors, helping the association's own leadership grow so they can better serve their membership.

"Having that money come into our board of directors so that we can grow and develop as a board allows us to better serve our membership, which again allows us to develop and grow Alberta real estate," Melanie says.

For Melanie, the connection between AREF funding and daily real estate practice is clear. "When REALTORS® are equipped and more connected, our clients and our communities benefit from this. We see a lot of personal growth in our REALTORS®, which transcends into how we better serve our communities."

She also raises an important point about awareness. Most REALTORS®, she says, don't know how AREF works.

Melanie believes the industry needs to better understand how the Foundation is funded. In her words: "I think it's important that REALTORS® know what's happening with the interest earned on deposits held in broker trust accounts, because I think it is something that is underutilized in terms of knowledge and education." She adds: "As a broker, as somebody who's past chair of the association, I understand how it's funded, but I'm not certain that that information is disseminated to the membership as much as it should be." 

Here's how it works: when a real estate transaction takes place, the buyer's deposit is held in the broker's trust account. The interest earned on that deposit is forwarded to the Alberta Real Estate Foundation, which reinvests it back into the industry and the communities it serves. (Note: deposits held by lawyers generate interest for the Alberta Law Foundation instead.)

To date, the Alberta Real Estate Foundation has invested more than $35 million into over 900 projects across the province. All funded through interest earned on pooled trust accounts held by real estate brokerages.