Jun 23, 2015 | RAHB News |
Effective July 1, 2015, buyers and sellers in Ontario will be able to use electronic signatures on agreements of purchase and sale.
This was made possible by the recent proclamation of an amendment to the Electronic Commerce Act, 2000.
Electronic signatures on agreements of purchase and sale will help improve transaction efficiency by reducing the time required to complete a deal, help improve the consumer’s experience and save REALTORS® time and money.
The Ontario Real Estate Association (OREA) advocated vigourously over the last five years to have e-signatures become a reality for real estate transactions in the province of Ontario, and are to be commended for their efforts.
Go to http://rahb.ca/memberinfo/2015/electroniccommerceact.pdf.
Special Professional Development course offering!
As of July 1, 2015, electronic signatures are permitted on Agreements of Purchase and Sale. Learn more about electronic signatures in this important session.
Go Paperless
Tuesday, July 28, 2015
10 a.m. – Noon
Cost: Free
RAHB – McCullough Room
Click here for information and registration or contact Angela (angelam@rahb.ca) or Camryn (camrynh@rahb.c).
Apr 2, 2015 | Member Services |
Representatives from RAHB’s Government Relations Committee will be meeting with local MPPs in early April to ask for support for an amendment to REBBA 2002 which would allow real estate salespeople to incorporate.
A study by the Centre for Spatial Economics found that Personal Real Estate Corporations (PRECs) will have a small but positive impact on Ontario’s economy. The study found incorporation would increase provincial revenue by $0.8 million to $2 million annually, and would increase Ontario’s GDP by an average $9 to $25 million annually. In addition, PRECs will create 33 to 89 new jobs per year.
In Ontario, other regulated professionals such as chartered accountants, lawyers, health professionals, social workers, mortgage brokers, insurance agents and others can form personal corporations. Since 2008, B.C., Quebec, Manitoba, Saskatchewan and Nova Scotia have all moved to allow real estate salespeople to incorporate.
Our Government Relations representatives will be asking MPPS to amend the legislation and treat Ontario REALTORS® more fairly.
Nov 12, 2014 | RAHB News |
You know first-hand the critical importance of the Home Buyers’ Plan (HBP) to helping first-time buyers afford a home. Your clients are likely some of the over 2.6 million Canadians who have withdrawn up to $25,000 from their Registered Retirement Savings Plan (RRSP) under the HBP to put towards their first home purchase. (more…)
Oct 10, 2014 | Member Services |
Municipalities across the province will elect new leaders on October 27. In concert with the Hamilton Chamber of Commerce and the Hamilton-Halton Homebuilders Association, RAHB has been active in shaping the conversation for the Hamilton Mayoral race. (more…)
Sep 9, 2014 | Member Services |
Jun 6, 2014 | CREA/OREA/RECO News |
RAHB volunteers and staff travelled to Ottawa in May to meet with local MPs to discuss issues that matter to REALTORS®. This year’s conference focussed on making housing more affordable by indexing the Home Buyers’ Plan and extending it to people going through major life changes. RAHB representatives met with Chris Charlton, Wayne Marston and Mike Wallace, and received positive feedback about the proposals. (more…)
May 8, 2014 | Member Services |
According to new research by the Ontario Real Estate Association (OREA), Toronto’s MLTT has caused significant job losses and negative economic impacts since being imposed in 2008. The study, conducted by Altus Group, looked into the economic impact of Toronto’s Municipal Land Transfer Tax. They concluded that the tax has cost the city $2.3 billion in economic activity and almost 15,000 full-time jobs over the last six years. (more…)
Dec 11, 2013 | CREA/OREA/RECO News |
OREA Political Action (PAC) members met in Toronto in October to take four messages to provincial MPPS:
Do not grant municipalities the ability to impose municipal land transfer taxes.
Some municipalities in Ontario have been asking the province to grant them the authority to charge a municipal land transfer tax (MLTT) over and above the provincial land transfer tax (LTT), similar to the tax imposed by the city of Toronto.
For many people, this additional, non-financeable tax creates a barrier to home ownership. The spread of municipal LTTs to other regions of Ontario threatens to increase the cost of home ownership province-wide. The tax is fundamentally unfair and bad for the economy.
(Note: members of RAHB’s Communications/Government Relations Committee will be meeting with Hamilton and Burlington councillors to discuss MLTTs and the effects they have on home buyers and the local economy.)
Create a Marijuana Grow Operation Registry
Properties that were formerly used to manufacture illegal substances can pose a number of health and safety risks to home buyers. At present, it is extremely difficult for REALTORS®, lawyers and other professionals to find out if a property has been designated by a law enforcement authority as a marijuana grow operation (MGO) or clandestine laboratory.
OREA supports the creation of an MGO/clandestine lab registry using the Land Titles System. A registry will mitigate risks to consumers by ensuring that properties used as former MGOs are disclosed prior to completion of a real estate transaction.
Remove the provisions in REBBA 2002 that prevent registered salespeople from incorporating.
REBBA 2002 does not provide for the licensing of salespersons as personal corporations under Section 1.1 of the Act. In addition, REBBA 2002 does not permit a broker to pay a commission to an “unregistered entity” (Section 30c). Together these sections prevent an individual salesperson from conducting business through a corporation and taking advantage of lower tax rates.
Allowing registrants to incorporate will align the rights of real estate salespeople with other regulated professionals in Ontario and lowering taxes on Ontario businesses. Permitting personal real estate corporations will not affect consumer protection, will have limited implications for provincial revenue and will not require significant legislative resources.
Do not impose mandatory home energy audits
In October, 2013, the legislature passed a Private Member’s Motion that called for the energy efficiency labeling of new and existing houses at the time of sale. In essence, the motion recommends proclaiming section 3 of the Green Energy Act, 2009. This would create a system of mandatory home energy audits (MHEA) for every residential real estate transaction in Ontario.
Mandatory home energy audits would make home ownership less affordable by imposing additional costs on real estate transactions. It could delay transactions and could be used as a “bargaining chip” by buyers to pressure home owners to either spend thousands of dollars to improve the energy rating of their home or lower their sale price.
Watch for more information as OREA monitors these issues.
Oct 11, 2013 | Member Services |
Thanks to the efforts of RAHB volunteers who met with Hamilton City Councillors and staff and worked with members of the Hamilton and District Apartment Association to find an alternative to rental housing licensing, rental licensing in Hamilton has been placed on the back burner. (more…)
Aug 13, 2013 | Member Services |
Update – Joint Rental Licensing Task Force (more…)
Jul 11, 2013 | Member Services, RAHB News |
The RAHB-HDAA Joint Task Force on rental housing presented their “solution” to illegal rental units and student housing issues to the Hamilton Planning Committee on Tuesday, June 18. (more…)
Jun 12, 2013 | Member Services, RAHB News |
RAHB and the Hamilton & District Apartment Association were requested by the City of Hamilton Planning Committee to provide a solution to rental property licensing. (more…)
