Jun 2, 2015 | CREA/OREA/RECO News |
The Ontario Real Estate Association forwarded the following information to all members on March 19.
Re: Bill 55, the Stronger Protection for Ontario Consumers Act, 2013.
On July 1st, 2015, Ontario Regulation (307/14)<http://www.e-laws.gov.on.ca/html/source/regs/english/2014/elaws_src_regs_r14307_e.htm>, which implements amendments made to the Real Estate and Business Brokers Act, 2002 (“REBBA”) under Bill 55, will come into force. These changes are intended to address the issue of “phantom offers” in the real estate marketplace.
What REALTORS® Need to Know
Bill 55 introduced a number of changes to REBBA 2002 which created new requirements for real estate registrants. Most notably:
- Bill 55 prohibits a registrant working on behalf of a purchaser from presenting or representing an offer unless the offer is in writing and signed.
- Bill 55 requires that a brokerage must retain copies of all written offers to purchase real estate (that it receives to be presented to its seller) or copies of an equivalent prescribed document for each of those offers.
Ontario Regulation (307/14) outlines the required information that must be contained in a ‘prescribed document’ and states that the selling brokerage must retain a copy of the document or a copy of the written offer for a period of one year after receiving the written offer.
OREA has prepared a new Standard Form #801, “Offer Summary Document”, to help you comply with Bill 55. It is available on orea.com (https://www.orea.com/Members/Standard-Forms); it will be available in WEBForms by mid-June.
Jun 2, 2015 | CREA/OREA/RECO News |
Earlier this spring, RECO issued an e-blast to brokers of record and branch managers regarding new rules for handling written offers, stemming from Bill 55, the Stronger Protection for Ontario Consumers Act, 2013. In response to feedback from brokers of record and branch managers, RECO has updated the fact sheet.
Bill 55, the Stronger Protection for Ontario Consumers Act, 2013, takes effect on July 1, 2015 and there are new rules you must know for handling written offers. Your brokerage must create processes and policies that comply with these legislative changes.
RECO has prepared a detailed fact sheet about the changes. All registrants should review it so that they can ensure compliance as of July 1, 2015.
Here is an outline of the changes:
- Offers must be made in writing. Please keep in mind that a written offer must be signed to be valid.
- A registrant cannot indicate that they have an offer, unless they have a written offer.
- The seller’s brokerage must keep a record of all written offers that it receives.
- RECO is developing a process to confirm the number of offers that were received for a property.
- RECO will provide updates between now and July 1 in response to questions that registrants submit.
To review the relevant changes, see section 35.1 of REBBA 2002 and section 19.1 of Ontario Regulation 579/05 made under REBBA 2002.
(Note: OREA will design a new form for brokerages to use to comply with the requirements of Bill 55. See following article and stay tuned for more information.)
Jun 2, 2015 | REALTORS Care® |
Email sheilas@rahb.ca to register your foursome today!
Jun 2, 2015 | RAHB News |
MPAC propertyline Update
On May 6, RAHB sent a message to all members via email about changes to how members access MPAC’s propertyline reports.
We have received the following update from GeoWarehouse.
Previously, MPAC had provided all GeoWarehouse users 50 free reports per month of their Basic REB report. This was provided as a courtesy, but was not a contractual obligation by either MPAC or Teranet.
What has changed?
MPAC launched a new version of propertyline, and decided to discontinue access through GeoWarehouse, which Teranet complied with. Because of this, GeoWarehouse users who wish to continue to use propertyline must create a new account through propertyline.
Will members still be able to get 50 free reports per month?
No, MPAC is no longer offering 50 free Basic REB reports per month to REB GeoWarehouse users. These reports must now be purchased.
Do you need to log into propertyline to get MPAC assessment information?
No. Much of the assessment information contained in the Basic REB report is still available at no additional charge as part of your GeoWarehouse subscription. Users can find the information on CVA, frontage, depth, property type and description within the assessment information section of the Property Details report. If data is not available for a property within the Property Details report, try right-clicking on the property in the map and selecting “Assessment Information”. A purple icon will appear which provides the assessment data by placing your mouse over the icon. To purchase additional assessment data through the GeoWarehouse Store, including the Basic REB Report and other MPAC propertyline reports, right-click and select “Purchase Assessment Information”, or select “Assessment Reports” in the assessment information section of the Property Details report.
What did the Basic REB Report give you that is different from your GeoWarehouse subscription?
The Basic REB report carried the assessment version of the address and the legal description. The assessment legal description is an abbreviated location identifier (e.g., Lot 4, Plan MM1234), but does not contain many qualifiers (“subject to…”) such as easements that are considered important disclosures on documents like the agreement of purchase and sale. The full legal description can be found within the GeoWarehouse Property Details Report.
More information?
If you have questions about setting up a propertyline account, contact propertyline at 1.866.296.6722.
Jun 2, 2015 | RAHB News |
The REALTORS® Association of Hamilton-Burlington extends a warm welcome to its newest members (April 25 to May 26)
Krysta Boyer
Rahool Khanna
Shenelle Vola
Ambitious Realty Advisors Inc., Brokerage
Jihong Wang
Apex Results Realty Inc., Brokerage
Ranen David Samuel
Bridgecan Realty Corp., Brokerage
Jenny Tran
Century 21 Aberwin Realty Inc., Brokerage
Kia Golafshan
Coldwell Banker-Burnhill Realty Inc., Brokerage
David Bergeron
Cushman & Wakefield Ltd., Brokerage
Angela Konialian
Hosay Safi
Homelife Professionals Realty Inc., Brokerage
Petra Wuppermann
Judy Marsales Real Estate Ltd., Brokerage
Dawn Blackman
Jim Pauls Real Estate Ltd., Brokerage
Mark Garrett
Glenn Pietracupa
Keller Williams Complete Realty Inc., Brokerage
Orville Sam
Keller Williams Edge Realty Inc., Brokerage
Paula Grice
Realty Network: 100 Inc., Brokerage
Anthony Basilio
Erika DiPersio
Samantha Frank
Wendy Tanner
Paul Cann
RE/MAX Escarpment Realty Inc., Brokerage
Rachel Craggy
Ke Hua Huang
Marinos Thoma
Brian Bassett-Fitzgerald
Byung Park
Right At Home Realty Inc., Brokerage
Mahsa Salari-Joubani
Jane Hewitt
Royal LePage Macro Realty Inc., Brokerage
Cheryl Wheatley
Reet Grewal-Gill
Royal LePage State Realty Inc., Brokerage
Ryan Davison
Royal LePage Burloak Real Estate Services Inc., Brokerage
Andrew Gago
Star Real Estate Ltd., Brokerage
Rubel Ibna Shaikh
Sutton Group Innovative Realty Inc., Brokerage
Jolene Evans
Sutton Group Quantum Realty Inc., Brokerage
Gina Collis
Your Choice Realty Corp., Brokerage
Jun 2, 2015 | Member Services |
This article appeared in RECO’s ‘For the RECOrd’, April 24, 2015, and is reprinted with permission.
Clear communication leads to success
Communicating frequently. Providing sound, accurate advice. Making commitments and keeping them. These are the hallmarks of professionalism and key to your success as a real estate professional. As one registrant recently learned, even a typo can have big consequences.
Keeping your clients in the loop is not just a courtesy, it will tell them that you are on top of things and provide them with confidence that the transaction is unfolding as it should.
Even if the news isn’t great – like a showing that has been cancelled – it is best to keep the lines of communication open to show that you are following through on your professional commitments and doing your best to sell the home.
Failing to communicate properly with your client can have undesirable consequences and can certainly undermine your reputation as a professional.
A good example of a breakdown in communication between salesperson and a seller happened last year and required mediation to resolve the seller’s complaint to RECO.
In this case, the salesperson did not obtain any offers on the property after numerous showings. The salesperson, in an email to the seller, suggested reducing the asking price by $114,000. The seller couldn’t afford that reduction and asked the salesperson to cancel the listing agreement, but the Broker of Record refused to do so.
The seller complained to RECO, and the dispute went to mediation. During that process, the salesperson realized she had made a typo in the email to the seller – the reduction should have been $14,000 rather than $114,000. After the error was discovered, both parties agreed to a listing agreement for a $14,000 reduction in the sales price.
In this case, the misunderstanding was completely preventable. Had the salesperson met or spoken with the seller directly, chances are the mistake would not have been made. And, if a meeting or phone call wasn’t an option, a more careful reading of the email before it was sent off to the seller may have avoided the mistake. Even if the typo slipped through, when the seller asked to cancel the listing agreement, the Broker of Record could have taken a closer look at the situation and spotted the error.
To learn more, check out a new video (https://www.youtube.com/watch?v=-sNt0sZiv_A) that talks about the importance of open and honest.
Jun 2, 2015 | Member Services |
2015 summer attraction discounted tickets
Any ONE operating day May 2 – Sept. 20
Child (3 – 12) $25
Adult (13 – 59) $32
Note: Parking is included. Safari Bus rates are in addition to the admission prices
Any ONE Operating Day May 3 – Oct. 31
Child (3+ less than 48” in shoes) $37
Senior (60+) $37
Adult (3 – 59 and over 48” tall) $42
Pay ONCE, Visit TWICE ticket: Valid for two visits
by the same person May 3 – Oct. 31
All ages $55
NOTE: With the exception of special diet/need items and plastic bottled water, outside food and beverages are not allowed in the park. Tickets are not valid for Halloween Haunt. Parking is extra.
All ticket prices include HST, but do not include food, merchandise, lockers, tubes, rental pavilions, games and special events.
IN PERSON PURCHASES ONLY/FINAL SALE/NO REFUNDS OR EXCHANGES
Available in the Realty Shoppe – while supplies last
NEW item!
Wall mount push button lock box
- Wall mount key safe provides secure storage of keys or access cards
- Convenient push button locking mechanism in familiar alpha/numeric telephone keypad format
- Set your own combination using up to 12 letters, numbers, or both
- Large buttons for ease of use, even in low light conditions
- 3-1/8in (79mm) wide durable metal construction
- Large internal cavity and removable key hook prevents jamming
- Protective weather cover prevents freezing and jamming
$26.40 each*
*All applicable taxes are extra. Prices subject to change.
________________________________________
Monday – Friday, 8:30 a.m. – 4:30 p.m.
T.: 905.529.5979 F.: 905.529.7109
E.: realtyshoppe@rahb.ca
Jun 2, 2015 | Member Services |
2015 Commercial Summit
The REALTORS® Association of Hamilton-Burlington’s 14th Annual Commercial Summit was held on Thursday, May 7, 2015 at the Royal Botanical Gardens in Burlington.
The 100+ delegates were welcomed by Commercial chair-elect Hank Balfoort. The Summit’s proceedings were moderated by Professor Marvin Ryder from the DeGroot School of Business, McMaster University.
The full morning of education and updates began with a report from Ron Abraham, Commercial Committee Director for the Canadian Real Estate Association. Next, a panel of the region’s economic development representatives presented a range of updates and insights, including growth opportunities, business attraction and retention, and incentive and grant programs. The panelists representing Haldimand, Burlington and Hamilton were John Regan, Frank McKeown and Neil Everson. Keynote speaker Glenn Miller from the Canadian Urban Institute explored various means for realizing growth and development in infrastructure, downtown improvements, and transit, by exploring case studies and best practice evidence.
The event was complimented with a range of industry-relevant sponsors and exhibitors.
Delegates met for a morning of education and networking
Keynote speaker Glenn Miller
(l-r) Professor Marvin Ryder, Neil Everson, Frank McKeown and John Regan
Jun 2, 2015 | Member Services |
Register now for this great course!
Accredited Buyer’s Representative – ABR®
Wednesday and Thursday, August 26 and 27, 2015
9 a.m. – 4 p.m. each day
$299 +HST
RAHB Office – McCullough Rooms (lower level)
This course will give you the techniques, tools and resources to help you succeed as a buyer representative. Get
accredited as an ABR® and boost your referral pool!
Please note: ABR® and SRS® Seller Representative Specialist® designation courses require an elective course also be taken. The most popular from among the options is the SRES® – Seniors Real Estate Specialist®.
Register today, seating is limited.
Mark your calendar – Professional Development Days
RAHB will be holding Professional Development Days from October 6 – 8, at the association office.
Watch for further details coming soon!
All sessions held at the RAHB office, McCullough Rooms (lower level) For more information or to register, contact Angela at the RAHB office (angelam@rahb.ca or 905.529.8101 x233).
May 7, 2015 | 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 – 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
Moulton/Sherbrooke, 60
May 7, 2015 | RAHB News |
This just in!! The GMM has been re-scheduled for
Wednesday, June 24, 2015
Holiday Inn Burlington
3063 South Service Road
Watch for more details coming soon!
What’s happening at the GMM on June 24?
The General Membership Meeting has been called to present motions from the Board of Directors to the membership. The motions affect the RAHB Bylaw and members’ approval is required.
What are the motions?
1. The first motion will recommend an amendment to the section of the Bylaw which requires that members ratify changes the Board of Directors make to the rules and regulations. This will effectively remove the MLS® Rules and Regulations from the RAHB Bylaw.
Members are being asked to approve this motion to achieve two goals:
- to ensure RAHB is compliant with the terms of the Shared Services Agreement RAHB has signed with the other boards and associations participating in the Regional MLS® System; and
- to continue in the work begun to streamline and improve the RAHB Bylaw to bring it closer to the document it should be.
2. The second motion recommends amending the Bylaw where references are made to rules and regulations. These are merely “housekeeping” amendments to keep the Bylaw consistent after the MLS® Rules and Regulations are no longer part of the Bylaw.
Watch for more information about these issues coming to you directly from RAHB President Donna Bacher and CEO Ross Godsoe. They will offer further insights into the importance of your support when these amendments are presented for approval at the GMM.
Want to know more in the mean time? Read “You Asked?” for answers to questions RAHB members have asked about removing the Rules and Regulations from the Bylaw, as well as questions about the Regional MLS® System. (REALTOR Link® > MLS® > You Asked?)
May 7, 2015 | Member Services |
Professional Development
Held at RAHB – 505 York Blvd. – Lower Level
C – Chambers Room M – McCullough Room
Fusion Level 1
Tuesday, May 12 – C, 9 a.m. – noon
Tuesday, May 26 – C, 9 a.m. – noon
Tuesday, June 9 – C, 9 a.m. – noon
Tuesday, June 23 – C, 9 a.m. – noon
Broker Load
Thursday, May 7, 9:30 a.m. – 11:30 a.m.
Thursday, May 21, 9:30 a.m. – 11:30 a.m.
Thursday, June 4, 9:30 a.m. – 11:30 a.m.
Thursday, June 18, 9:30 a.m. – 11:30 a.m.
New Member Orientation (by invitation only)
Friday, May 22 – M, 9 a.m. – 1 p.m.
Friday, June 19 – M, 9 a.m. – 1 p.m.
Master LinkedIn Bootcamp – 3CE’s
Tuesday, May 12 – M, 9 a.m. – Noon
Master Facebook – 3 CE’s
Tuesday, May 12 – M, 1 p.m. – 4 p.m.
Introduction to Blogging – 3CE’s
Wednesday, May 13 – M, 9:30 a.m. – 12:30 p.m.
MASTER Open House – 3CE’s
Thursday, May 14 – M, 9 a.m. – Noon
iPad Agent – 3CE’s
Thursday, May 14 – M, 1 p.m. – 4 p.m.
Articling Course
Principles of Mortgage Financing
Tuesday – Thursday June 2 – 4 and 9 – 11 – M,
8:15 a.m. – 4:15 p.m.
To register for these courses, email Angela at
angelam@rahb.ca or call 905.529.8101 x233
Board of Directors, Committee and Task Force Meetings
Held at RAHB – 505 York Blvd. – First Floor
T – Thompson Room P – Purnell Room
Government Relations
Thursday, May 14, 10:30 a.m., T
Member Relations
Thursday, May 21, 1:30 p.m., T
Charity Golf Tournament
Friday, May 29, 9:30 a.m., P
Upcoming Events
General Membership Meeting
Wednesday, June 24, 2015
Holiday Inn Burlington
3063 South Service Rd., Burlington
RAHB Office Closures
Monday, May 18, 2015 for Victoria Day
