May 4, 2017 | Member Services |
Held at RAHB – 505 York Blvd. Lower level room: C – Chambers M – McCullough
Computer
New Member Computer Training Level 1
Thursday, May 4 – C 9 a.m. – 11:30 a.m.
Thursday, May 18 – C 9 a.m. – 11:30 a.m.
Thursday, June 1 – C 9 a.m. – 11:30 a.m.
Thursday, June 15 – C 1 p.m. – 3 p.m.
Designation
ABR® Accredited Buyer’s Representative – Gareth Jones
Monday, May 15 & Tuesday, May 16, 2017 – M
9 a.m. – 4:30 p.m.
$325+HST
REIC 2600: Ethics and Business Practice – Mary Jones
Monday, June 19 – Wednesday, June 21, 2017 – M
9 a.m. – 4:30 p.m.
$625+HST
Professional Development
iPad Agent – Amyn Chagan
Wednesday, May 17, 2017 – M
9 a.m. – Noon
$79+HST (Early Bird prior to May 10);
$99+HST regular price
Master Open House – Amyn Chagan
Wednesday, May 17, 2017 – M
1 p.m. – 4 p.m.
$79+HST (Early Bird prior to May 10);
$99+HST regular price
Insurance Concerns for Buyers – Lou Radomsky
Friday, May 19, 2017 – M
9:30 a.m. – 11:30 a.m.
$30+HST
Agency – Practical Facts for Dealing with Buyers – Hugh Foy
Monday, May 29, 2017 – M
10 a.m. – Noon
$30+HST
Tax and Estate Planning – Peter Bowen
Lunch and Learn Workshop
Monday, June 5, 2017 – M
10 a.m. – Noon
FREE
Power of Email Marketing – Mark Brodsky
Monday, June 12, 2017 – M
10 a.m. – Noon
FREE
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To register, or for more information, contact Angela at 905.529.8101 x233 or angelam@rahb.ca.
May 4, 2017 | DS, RAHB News |
RAHB as an “efficient” market?
Have you ever taken a minute to think about what RAHB’s role is in contributing to the “efficient” real estate market in the Burlington, Hamilton and outlying areas?
RAHB is a not-for-profit corporation that offers services to advance member interests. I think most members (RAHB has 3,085 at the time of writing) would agree the MLS® System is the single most valued RAHB service since each member’s livelihood depends on it. However, to thoroughly understand the total value offered, we need to go beyond thinking of the MLS® System as just a single service. Rather, we should also consider the two complementary services that go hand-in-hand to contribute to making RAHB’s MLS® System an efficient marketplace: the first is the MLS® Rules and Regulations and the second is our Professional Standards and Discipline process.
Rules and Regulations are needed to set the ground rules by which the market will operate. Without rules there would be chaos. Participants need to know the rules and abide by them in order for any marketplace, some may say exchange, to work efficiently and fairly. Rules and Regulations provide the input structure to the market.
Professional Standards and Discipline services are needed to encourage market participants to follow the rules, and when they do not, these services provide appropriate disciplinary measures with the aim of motivating that individual to abide by the rules in the future. Some may think of these services as market output services to correct inappropriate behaviour and encourage application of the rules and regulations, again with the aim to create a fair and efficient market.
Now let’s look at three market descriptions. Do the following sound familiar?
The organization likely descended from the Association of Brokers…. twenty-four … gathered at the Masonic Hall …– summarized from Wikipedia
[The organization]… does not own what is traded. Instead, it acts as a market where …buyers connect with …sellers – summarized from Investopedia
The primary function of [the organization]… is to help provide liquidity; in other words, to give sellers a place to “liquidate” their … holdings. – summarized from Investopedia
Could those descriptions outline how our association and MLS® System began, and how the association works today? I think they could. However, they are actually describing stock exchanges in general and, in the case of the first quotation, the Toronto Stock Exchange, or TSX, in particular.
RAHB’s MLS® System is an example of an “efficient” market: it contains reliable data; everyone using the data works to the same rules, which creates a level playing field; and there is a process in place to enforce compliance to the rules so the market remains stable.
There are additional similarities between our MLS® System and the TSX. Brokers (or participants) using the TSX are all licensed under the oversight of a regulatory body that enforces Ontario securities law. That governing body – the Investment Industry Regulatory Organization of Canada (IIROC) – has rules all licensees must follow, and the TSX has additional rules and regulations that those market participants must follow. These rules create a level playing field where participants know what they have to do, what’s expected of them and how they must serve their clients.
In addition to the rules, there is also an enforcement or compliance process that comes into play when rules are broken, for what good are rules where there is no way to make sure they are being followed? In this column last month I touched on that exact point.
So what does all this have to do with RAHB?
The financial marketplace governing structure sounds very similar to our industry’s structure with the Real Estate Council of Ontario (RECO) setting overall rules for real estate registrants to follow, and RAHB having additional rules and regulations associated with using our MLS® System.
RAHB’s MLS® System has evolved to have much in common with the financial services market, or exchanges. We have created an efficient marketplace for the trading of real estate, and that marketplace has clear rules in place to ensure everyone – members, buyers and sellers – is treated fairly. We have also created a mechanism for enforcing the rules – that is, a discipline process.
Our MLS® System is the real estate exchange for our market. Rule-setting and ensuring compliance to those rules are two integral components to make this market both efficient and fair for all.
On a different note, I hope to see you at the RAHB Annual Charity Golf Tournament to be held on May 18, 2017 at the Beverly Golf and Country Club! The tournament is raising money for two local women’s shelters: Halton Women’s Place in Burlington and Interval House in Hamilton – both great causes.
Best regards,
George O’Neill
RAHB CEO
May 4, 2017 | RAHB News |
The REALTORS® Association of Hamilton-Burlington extends a warm welcome to its newest members from March 22 to April 19, 2017!
Mike Hijazi
Bridgecan Realty Corp.
Natalie Hashka
Ramsin Kamo
Jennifer Isaacs
Coldwell Banker Community Professionals
Dylan Stewart
ComFree Commonsense Network
Jacob Poirier
Keller Williams Edge Realty
Irina Arkhipova
Mahassen Farah
Judy Marsales Real Estate Ltd.
Corinne Briggs
Peter Milne
Mark Fleming
Rob Silenzi
RE/MAX Escarpment Realty Inc.
Carmen Arancibia
RE/MAX Escarpment Walsh & Volk Group Realty Inc.
Inder Singh
RE/MAX Realty Enterprises Inc.
Nastasia Harris
David Alexander
Robert Jendrzejczak
Right At Home Realty Inc.
Vanessa Rosati
Royal LePage Signature Realty Inc.
Nathan Vancardo
Holly Estey
Sutton Group About Town Realty Inc.
Caressa Anglin
Zoocasa Realty Inc.
Apr 5, 2017 | MLS®, Stats & Technology |
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,803 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in March. The month’s all-property sales set a new high for the month of March, surpassing the record set just last year by 22.2 per cent.
There were 2,197 properties listed in March, an increase of 17.5 per cent compared to March of last year and 6.5 per cent higher than the 10-year average for new listings in the month.
“This is the sixth month in a row – beginning October of last year – that we’ve seen a new monthly record for sales,” said RAHB CEO George O’Neill. “While there was a good increase in new listings, it doesn’t quite balance the number of sales, so the end-of-month listing inventory is 35 per cent lower than last year at this time – that’s less than a month of inventory.”
Seasonally adjusted* sales of residential properties were 16.6 per cent higher than the same month last year, with the average sale price up 29.5 per cent for the month. Seasonally adjusted numbers of new listings were 10.2 per cent higher than March of 2016.
Overall residential sales of 1,702 units were 20.2 per cent higher than the same month last year. Residential freehold sales were 17.4 per cent higher than March of 2016 while sales in the condominium market were 32.8 per cent higher than the same month last year.
The median price of freehold properties increased by 28.5 per cent over the same month last year while the median price for condominium properties increased by 24.2 per cent compared to the same period.
The average price of freehold properties showed an increase of 28.7 per cent compared to March of last year; the average sale price in the condominium market increased by 28 per cent compared to the same period.
Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Contact a REALTOR® for information about your area or property.
The average number of days on market decreased from 28 to 20 days in the freehold market and from 27 to 19 days in the condominium market, compared to March of last year.
“Year to date, residential sales are up by 18.4 per cent and the average sale price by 22.9 percent over the same period last year and listing inventory is 35 per cent less than a year ago,” noted O’Neill. “In this market, where homes are selling quickly and buyers are competing for so few listings, a buyer’s and seller’s best ally is a REALTOR® – a real estate professional who can offer the best advice for navigating the market.“
Every community in RAHB’s market area has its own localized market. Please refer to the accompanying chart, and contact a REALTOR® for more information.
*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.
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About the REALTORS® Association of Hamilton-Burlington
Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 3,000 real estate brokers and sales representatives from Hamilton, Burlington and outlying areas. Members of the Association may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The Association operates the local Multiple Listing Service® (MLS®) System and provides ongoing professional education courses for its members. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at REALTOR.ca. More information about RAHB is available at rahb.ca.
Apr 5, 2017 | MLS®, Stats & Technology |
Apr 5, 2017 | MLS®, Stats & Technology |
RAHB Average Price by District – (#) Residential Unit Sales
Hamilton
Hamilton West, 10 – 12
Hamilton East, 23, 24, 27 – 29
Hamilton Centre, 13, 14, 20 – 22
Hamilton Mountain, 15 – 18, 25 & 26
Burlington 30 – 36, 38
Outlying
Flamborough, 40, 43 – 45
Dundas, 41
Ancaster, 42
Waterdown, 46
Stoney Creek, 50 – 52
Glanbrook, 53
Grimsby, 54 -55
West Lincoln, 56
Smithville, 57
Dunnville, 61
Cayuga, 62
Calendonia/Hagersville, 63 & 70
Onieda/Seneca, 71 & 64
Rainham, 65
Canborough/Dunn, 60
Mar 27, 2017 | MLS®, Stats & Technology |
Mar 27, 2017 | MLS®, Stats & Technology |
RAHB Average Price by District – (#) Residential Unit Sales
Hamilton
Hamilton West, 10 – 12
Hamilton East, 23, 24, 27 – 29
Hamilton Centre, 13, 14, 20 – 22
Hamilton Mountain, 15 – 18, 25 & 26
Burlington 30 – 36, 38
Outlying
Flamborough, 40, 43 – 45
Dundas, 41
Ancaster, 42
Waterdown, 46
Stoney Creek, 50 – 52
Glanbrook, 53
Grimsby, 54 -55
West Lincoln, 56
Smithville, 57
Dunnville, 61
Cayuga, 62
Calendonia/Hagersville, 63 & 70
Onieda/Seneca, 71 & 64
Rainham, 65
Canborough/Dunn, 60
Mar 27, 2017 | MLS®, Stats & Technology |
PRESS RELEASE – For immediate release
March 3, 2017 (Hamilton, Ontario)
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,311 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in February. Total property sales were 16.4 per cent higher than the same month last year and, for the second month in a row, set a new high for that month.
There were 1,496 properties listed in February, a decrease of 2.7 per cent compared to February of last year and 8.4 per cent lower than the 10-year average for new listings in the month.
“February’s sales were what we’d expect to see during the spring or fall markets, typically the busier times,” said RAHB CEO George O’Neill. “With the number of available properties down and record sales, we are left with a low inventory at the end of the month. In the residential market, there is less than one month of available properties right now. We continue to be deep into a seller’s market.”
Seasonally adjusted* sales of residential properties were 18.1 per cent higher than the same month last year, with the average sale price up 27.5 per cent for the month. Seasonally adjusted numbers of new listings were 2.5 per cent higher than February of 2016.
Overall residential sales of 1,257 units were 16.7 per cent higher than the same month last year. Residential freehold sales were 15.3 per cent higher than February of 2016 while sales in the condominium market were 23.2 per cent higher than the same month last year.
The median price of freehold properties increased by 23.2 per cent over the same month last year while the median price for condominium properties increased by 19.7 per cent compared to the same period.
The average price of freehold properties showed an increase of 22.3 per cent compared to February of last year; the average sale price in the condominium market increased by 22.8 per cent compared to the same period.
Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Contact a REALTOR® for information about your area or property.
The average number of days on market decreased from 31 to 22 days in the freehold market and from 34 to 21 days in the condominium market, compared to February of last year.
“The first two months of 2017 have been blockbusters”, noted O’Neill. “Residential sales for 2017 are already 17.1 per cent higher than they were last year for the same period, and both median and average sale prices are up around 19 per cent. The spring market has started early.”
Every community in RAHB’s market area has its own localized market. Please refer to the accompanying chart, and contact a REALTOR® for more information.
*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.
About the REALTORS® Association of Hamilton-Burlington
Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 3,000 real estate brokers and sales representatives from Hamilton, Burlington and outlying areas. Members of the Association may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The Association operates the local Multiple Listing Service® (MLS®) System and provides ongoing professional education courses for its members. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at REALTOR.ca. More information about RAHB is available at rahb.ca.
Mar 24, 2017 | Member Services |
Held at RAHB – 505 York Blvd.
Lower level room: C – Chambers M – McCullough
First floor room: T – Thompson P – Purnell
Computer
- New Member Computer Training Level 1
Thursday, March 30 – C, 9 a.m. – 11:30 a.m.
Thursday, April 6 – C, 9 a.m. – 11:30 a.m.
Thursday, April 20 – C, 1 p.m. – 3:30 p.m.
Thursday, May 4 – C, 9 a.m. – 11:30 a.m.
Thursday, May 18 – C, 1 p.m. – 3:30 p.m.
Register with angelam@rahb.ca.
Board of Directors, Committee and Task Force Meetings
- Governance & Bylaw
Wednesday, April 5 – T, 9:30 a.m.
- Board of Directors
Thursday, April 13 – T, 9 a.m.
- Government Relations
Tuesday, April 18 – T, 9 a.m.
- Finance
Thursday, April 20 – T, 9:30 a.m.
Professional Development
See page 5 for a list of courses.
RAHB President Lou Piriano heading a new Professional Development session, Spot the Mortgage Fraud,
at RAHB.
Upcoming Events
- RAHB Charity Golf Tournament
Thursday May 18, 2017
Beverly Golf and Country CLub
1211 2nd Concession Rd. W., Copetown
Register at events@rahb.ca.
Mar 24, 2017 | CREA/OREA/RECO News |
2016 was a busy year for REALTOR.ca with over 240 million visitor sessions and over 300,000 REALTOR.ca accounts created. This means REALTORS® were sent over 1.9 million email leads throughout the year.
Since February, of this year, REALTOR.ca has been making sure you get the most out of your leads with the launch of smart leads. These emails, which are generated when a visitor to your REALTOR.ca listings or profile sends you a lead, will provide you with more information than ever before.
REALTOR.ca smart leads give you more insight into your leads with the addition of the following information:
- Real estate persona: Are they a first time buyer, residential investor, repeat buyer?
- Where they are from: Is your lead local, from out of town or even international?
- Do they have representation: Want to know if they are already working with a REALTOR®? Find out before you even talk to them.
REALTOR.ca smart leads provide additional information to help you build stronger, smarter connections with potential clients.
If you have any questions please contact CREA Member Support.
Note: Users have the option to choose to not share certain types of information when sending an email to a REALTOR®.
Mar 24, 2017 | CREA/OREA/RECO News |
RECO has issued a new Registrar’s Bulletin that outlines the steps you need to take before you receive any written direction from your client about “no offers until” and then how to deal with pre-emptive (or “bully”) offers.
The main takeaways for members:
- You must act in strict accordance with the instructions you are given by your client, so it is very important that the written direction from the seller is detailed and very clear. As well, you must make sure the seller understands the implications of holding offers.
- After giving instructions to hold offers until a particular date, your seller may change his or her mind and wish to view one or more offers. If this happens, you will require new written directions from the seller to override the previous instructions.
For what happens next, the Registrar’s instructions are very clear:
“First, you must change the notes to any listing for the property, to accurately reflect the new offer process.
“Second, you are expected to notify, in writing, anyone who has expressed an interest in the property of the change to the offer process. An expression of interest includes parties that have booked viewing appointments, have viewed the property, have informed the brokerage or the listing representative that they will be submitting an offer on the property, or have submitted an offer or an offer summary sheet on the property. In addition to traditional forms of written notice, text message and email are also acceptable.” (excerpt from Registrar’s Bulletin #2017-1, February 21, 2017)
Read the full Registrar’s Bulletin here
