New MLS® Policy and Change to the Cooperating Brokerage Commission Field

The current Cooperating Brokerage Commission field allows up to 22 characters.  Beginning on May 23, 2019, the field will be expanded to allow up to 200 characters. This change is being made to ensure the cooperating brokerage commission data is available for Virtual Office Websites (VOWs), as set out by the Competition Tribunal Order.
Along with the change to the number of characters allowed in this field, the Board of Directors have approved the following new MLS® policy that will also take effect on May 23, 2019 as follows:
Miscellaneous
23. The Cooperating Commission field must contain either a dollar amount and or a percentage. “See Remarks” is not acceptable. Any additional comments or details pertaining to the cooperating brokerage commission must be entered in the Cooperating Commission Comments field, not the REALTOR® remarks.
This means on May 23, 2019, any current active listings on the MLS® system and any new listings entered should ensure the cooperating brokerage commission is appearing ONLY in the “Commission to Cooperating Brokerage” field, not in the REALTOR® remarks.  Not following the new MLS® policy will mean your listing may not be in compliance with the Competition Tribunal Order. 
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RAHB REALTORS® release February 2019 statistics

Hamilton, ON (March 1, 2019) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 735 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in February, 2019. This is a 4 per cent drop from February last year; however, a 24 per cent increase over January 2019. The average price was up from February 2018 by 1.9 per cent to $557,135.

Please click here to read the full release.

Follow the links below for:

Burlington

Halidmand

Hamilton

Niagara North

 

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Selling Date – Correct Usage

Please note that when reporting a sale, the Selling Date field is used to report the date on which an accepted agreement becomes an unconditional sale.  If the accepted agreement has no conditions this would be date of acceptance.  If the accepted agreement includes conditions this would be the date that all conditions have been waived or fulfilled. RAHB staff has noticed a number of listing where this field was used to display the date when a conditional agreement was reached. This can lead to incorrect and misleading information on the MLS®. As per RAHB’s MLS® Policies:

“9.01 An important part of the inherent value of the Association’s MLS® System is the transaction data accumulated for sales of listed properties. Therefore, it is the responsibility of all Members to ensure, regardless of their business model, that property sold information for properties listed on the Association’s MLS® System, including the reporting of conditionally sold properties and sale prices, be reported to the Association. Members are not permitted to avoid these reporting responsibilities to the Association by, for example, cancellation of a Listing between receipt (or anticipated receipt) and acceptance of an Offer, or encouraging a Seller to do so. Accordingly, the Listing Brokerage will report by Broker Load all sales and conditional sales for Broker Loaded MLS® Listings effected during the Listing term and during the holdover period of an MLS® Listing, within two (2) Association business days following written acceptance of any Offer by the Seller. If the MLS® Listing is Board Loaded, the sale or conditional sale must be submitted in writing within two(2) Association business days following written acceptance of any Offer by the Seller. Power of Sale and commercial sales shall be reported not later than two (2) Association business days after closing.”

If you have any further questions, please do not hesitate to contact us at (905)667-4650 or support@rahb.ca.

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RAHB REALTORS® Revised Year-End Statistics

The REALTORS® Association of Hamilton-Burlington (RAHB) has released revised 2018 year-end market data and reports. Double listings were discovered within the 2017 data, resulting in the sales and listings figures being higher than what actually took place during that time period. Double listings declined after August 2017 due to the RAHB-ORTIS data sharing agreement.

In the revised data, RAHB reports 11,584 all-property sales through the Association’s Multiple Listing Service® (MLS®) System in 2018, 13.7 per cent fewer sales than in 2017. Click here to read the entire release.

Follow the links for the revised 2018 year-end stats reports:

Burlington

Hamilton

Haldimand

Niagara North

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RAHB REALTORS® Release January 2019 Statistics

Hamilton, ON (February 4, 2019) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 593 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in January, 2019. This is a 3.6 per cent drop from the same month last year. The average price was up by 4.7 per cent to $550,058.

Please click here to read the full release.

Follow the links below for:

Burlington

Halidmand

Hamilton

Niagara North

 

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RAHB RELEASES YEAR-END MARKET STATISTICS

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 11,882 all-property sales through the Association’s Multiple Listing Service® (MLS®) System in 2018, 17.5 per cent fewer sales than in 2017. Click here to read the entire report.

Follow the links below for more 2018 year-end stats:

Burlington

Hamilton

Haldimand

Niagara North

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Social Media Hashtags for Real Estate

When listing a property for sale on social media (Twitter, Instagram, Facebook), RAHB would like to encourage members to use the hashtags #HamOntRealEstate, #BurlOnRealEstate and #RAHB.
Using these hashtags will help gain momentum online and will create a feed of public posts for the public to view.
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For Multi-Marketed Listings, Use The Alternate MLS® Number!

When you enter a multi-marketed listing (where there is more than one listing with a single contract), it is necessary that you enter the MLS® numbers for all other corresponding listings in the Alternate MLS® Number field. This helps ensure all listings at that address are properly reported in the event the property is sold. It is also in keeping with RAHB’s MLS® Policies (MLS® Marketing Options, Policy #2).

Please refer to RAHB’s MLS® Policies for more information: http://rahb.ca/MLS/2018/11-2018-MLS-Policies.pdf.

As well, when a multi-marketed property is sold, report only one of the listings as sold.  This will ensure that RAHB’s listing statistics are accurately stated, with no listings being double counted (if all of the listing are reported sold, RAHB’s stats would count each as individual sales).   Report the sale on the listing that is most relevant, then cancel the remaining listings.  There is no additional paperwork required to do this.

If you have any questions, please do not hesitate to contact us at 905.667.4650 or support@rahb.ca.

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CREA’s HPI Tool and Powerpoint Presentation

CREA’s HPI Tool – Tableau

Use Tableau

For more information on how to use the HPI Tool, please visit www.crea.ca/housing-market-stats/mls-home-price-index/getting-started/.

On November 8th, CREA’s Chief Economist, Gregory Klump presented two sessions at RAHB about the HPI Tool. If you would like to view his powerpoint presentation, click the button below.

HPI Powerpoint Presentation

The session was also recorded.

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Two Additions to Photo Policies

The RAHB Board of Directors recently approved the addition of two new policies to the RAHB MLS® Policies for photos.

The additions and attendant revisions to the (now) Photos/Images policy are noted in bold text below.

Current Photos Policy Approved Amended Policy
PHOTOS

  1. RAHB will only accept a single clear, quality image for all photo slots.
  2. If a photo/sketch attached or photo to follow has been selected in the photo field and no photo/ sketch is attached or uploaded for any MLS® listing, within 48 hours of receiving an MLS® number, a $50 fine will be levied to the member.
    Furthermore, if a photo is not uploaded within twenty four (24) hours of receiving the initial $50 photo fine, an additional $100 fine will apply and be charged to the member.
    If a member does not upload a photo within 24 hours of receiving the $100 fine, the listing will be removed from the MLS® system
  3. If a member is using another members’ previous listing photo on a listing without written permission, the photos will be removed, the status will be changed to information withheld until a new photo is provided, and a $50 fine will be levied to the member.
  4. Photos submitted with any overlay of text will not be accepted; with the exception of sketches.
  5. Photos with people and/or their direct image will be subject to review by the MLS® Department; and may be refused or removed. This includes, but is not limited to, photo slots or other media; and or attachments.
  6. RAHB will no longer upload auxiliary photos on behalf of the members.

PHOTOS/ IMAGES

  1. Photo/ image means a photograph or sketch relating to a listed property uploaded onto RAHB’s MLS® system.
  2. RAHB will only accept a single clear, quality image for all photo slots.
  3. If a photo/ sketch attached or photo to follow has been selected in the photo field and no photo/ sketch is attached or uploaded for any MLS® listing, within 48 hours of receiving an MLS® number, a $50 fine will be levied to the member.
    Furthermore, if a photo is not uploaded within twenty four (24) hours of receiving the initial $50 photo fine, an additional $100 fine will apply and be charged to the member.
    If a member does not upload a photo within 24 hours of receiving the $100 fine, the listing will be removed from the MLS® system
  4. If a member is using another members’ previous listing photo on a listing without written permission, the photos will be removed, the status will be changed to information withheld until a new photo is provided, and a $50 fine will be levied to the member.
  5. Photos/ images submitted with any overlay of text will not be accepted; with the exception of sketches.
  6. Photos with people and/or their direct image will be subject to review by the MLS® Department; and may be refused or removed. This includes, but is not limited to, photo slots or other media; and or attachments.
  7. RAHB will no longer upload auxiliary photos on behalf of the members.
  8. Photos/ images uploaded to RAHB’s MLS® system will not be accepted if they include embellishments, including but not limited to advertising, marketing as related to the salesperson, broker, or brokerage.
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RAHB REALTORS® Release October Statistics

The REALTORS® Association of Hamilton-Burlington reported 1,035 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in October, 2018.

Please click here to read the full report.

Follow the links below for:

Burlington

Halidmand

Hamilton

Niagara North

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RAHB REALTORS® Release September Statistics

The REALTORS® Association of Hamilton-Burlington reported 948 sales were processed through the Multiple Listing Service® (MLS) System within the RAHB market area in September, 2018.

Please click here to read the full report.

Follow the links below for:

Burlington

Halidmand

Hamilton

Niagara North

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