JUNE ● 2015 News and Resource for MEMBERS Empowering REALTORS ® to Succeed What's coming up at RAHB – page 10 REAL INFO MEMBER SERVICES Professional development for REALTORS ® – page 3 2015 Commercial Summit Highlights – page 4 Realty Shoppe – page 5 Ethics Corner – page 6 MLS ® activity for the month of May – page 6 CREA/OREA/RECO NEWS RAHB NEWS RAHB welcomes new members – page 7 MPAC and GeoWarehouse – MPAC propertyline Update – page 7 Annual Charity Golf Tournament – page 8 MARK YOUR CALENDAR MESSAGE FROM PRESIDENT General Membership Meeting and Regional MLS ® Rules – pages 2 and 3 Download Full Edition New rules for written offers in effect on July 1, 2015 – page 9 OREA designing form for compliance with Bill 55 – page 9
Transcript
JUNE ● 2015
News and Resource for MEMBERS
Empowering REALTORS® to Succeed
What's coming up at RAHB – page 10
REALinfo
MEMBER SERVICESProfessional development for REALTORS® – page 32015 Commercial Summit Highlights – page 4Realty Shoppe – page 5Ethics Corner – page 6MLS® activity for the month of May – page 6
CREA/OREA/RECO NEWS
RAHB NEWSRAHB welcomes new members – page 7MPAC and GeoWarehouse – MPAC propertyline Update – page 7Annual Charity Golf Tournament – page 8
MARK YOUR CALENDAR
MESSAGE FROM PRESIDENTGeneral Membership Meeting and Regional MLS® Rules – pages 2 and 3
Download Full Edition
New rules for written offers in effect on July 1, 2015 – page 9OREA designing form for compliance with Bill 55 – page 9
REALinfo is published monthly by the REALTORS® Association of Hamilton-Burlington (RAHB)
505 York Boulevard, Hamilton ON L8R 3K4 T.: 905.529.8101 F.: 905.529.4349 MLS® F.: 905.529.6636Help Desk T.: 905.667.4650Realty Shoppe:T.: 905.529.5979F.: 905.529.7109
Email: [email protected] Web site: www.rahb.caIntranet site: www.realtorlink.ca
Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 2,700 real estate brokers and salespersons from Hamilton, Burlington, and surrounding 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. In addition, RAHB is an active participant in the Home Ownership Affordability Partnership (HOAP) and holds an annual auction in support of local charities. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at www.REALTOR.ca. More information about RAHB is available at www.rahb.ca.
Mission StatementEmpowering REALTORS® to Succeed
President Donna Bacher 905.574.4600
President-Elect Kim Alvarez 905.335.3042
Vice-PresidentLou Piriano 905.628.6625
Immediate Past PresidentTim Mattioli 905.575.5478
DirectorsAnn Forbes Arndt 905.574.3038Gary Herron 905.388.1110Peter Holgate 905.637.1070Jack Loft 905.304.3303Sean Morrison 905.662.6666Dave Nichols 905.634.7755Gloria Payton 905.574.9889Heidi Van der Marel 905.664.7900
News and Resource for Members
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Dear member,
LETTER FROM PRESIDENT
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2015
Last month the Association sent out a side-by-side comparison of our current MLS® Rules and Regulations and the draft Regional MLS® Rules. The communication wasn’t clear that the rules were still just a draft, and as a result there have been some concerns raised by members about these rules.
In the weeks since, your Board of Directors has been busy gathering feedback and information to ensure that all concerns are addressed before the final regional MLS® Rules are adopted. This has included:
• Seeking input from the membership as a whole• Review by the MLS® Committee• Review by OREA’s legal counsel• Review by CREA’s competition counsel• Special Board meeting to discuss the Regional project• Sending correspondence to the Ontario Regional Technology & Information Services (ORTIS) advising that RAHB has concerns regarding certain provisions within the draft Rules before they are finalized, as well as for clarification on the process for providing input• Appointing a task force of RAHB members to review the Rules and draft recommend- ations to the Board of Directors
In addition to these measures, I met with the Presidents of the other seven associations on May 25 and the concerns raised by RAHB were common to all. I have no doubt that by the time the Regional MLS® Rules are adopted they will be better than the Rules we currently have in place.
On June 24, we are holding a General Membership Meeting to amend the RAHB Bylaw to separate the MLS® Rules. This serves to continue RAHB’s move towards good governance practices, and also serves to clear our final commitment to joining the Regional MLS® system. I need to be clear that this separation is a contractual requirement for our participation, and if we fail to amend the Bylaw, the other seven associations will continue without RAHB.
What this means is:• RAHB would remain on Fusion• We would lose our existing relationship with the STARRS group (Niagara, Brantford and Simcoe)
Your Board of Directors is committed to moving forward with the Regional project and we need your support to continue.
There have been rumours that members will see their fees increase when we move to the new MLS® system, however, thanks to the purchasing power of 7000+ REALTORS® your dollar will go farther! We’re happy to say that there is no fee increase projected despite a number of additional services being built in to the new system.
• Integration of Teranet will provide seamless field population • ShowingTime, an integrated scheduling system, will connect appointments directly to the MLS® listings, and via its mobile app• Integrated statistics capabilities• Full accessibility on all devices and platforms
The Regional MLS® system and Matrix are being created to meet the needs of REALTORS® in southern Ontario. The regional system will offer you access to MLS® data from seven other real estate associations and more, as others come on board.
• Matrix will give you fast access to the information you need, on any device, to better serve your clients. • Matrix will integrate programs and information you already use so it's all at your fingertips.
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2015
News and Resource for Members
MEMBER SERVICESProfessional development for REALTORS®
Register now for this great course!
All sessions held at the RAHB office, McCullough Rooms (lower level) For more information or to register, contact Angela at the RAHB office ([email protected] or 905.529.8101 x233).
Accredited Buyer’s Representative – ABR®
Wednesday and Thursday, August 26 and 27, 20159 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.
The Regional MLS® System and Matrix are the future of real estate and your Board of Directors is committed to being part of that future.
I said earlier that the Board needs your support in order to continue to be part of the Regional MLS® system. Here's how you can help:
Come out to the General Membership Meeting on June 24 and ratify the Bylaw changes that will remove the current MLS® Rules and Regulations from the RAHB Bylaw. This is a contractual requirement for our continued participation in the Regional MLS® System; it is also good governance and something we would be asking you to do anyway.
Please do not assume that the Regional MLS® System is a done deal. It is not. If members do not approve the Bylaw changes at this meeting, RAHB will not be part of the regional system. It is important that if you are looking forward to the regional system, you be at that meeting and cast your vote to allow RAHB to continue moving forward.
Please feel free to contact CEO Ross Godsoe or myself if you have questions or concerns about the Regional MLS® System and Matrix.
I look forward to seeing you at the meeting on June 24!
Meeting Details:Burlington Holiday Inn, 3063 South Service Road
9:30 a.m. – Registration 10 a.m. – Meeting ShowingTime presentation following the meeting
If you cannot make the meeting, you can give your proxy vote to someone who will be attending. The form will be sent on June 12 with the official Notice of Meeting.
Best regards,
Donna Bacher 2015 RAHB President
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Mark your calendar – Professional Development DaysRAHB will be holding Professional Development Days from October 6 – 8, at the association office.
(l-r) Professor Marvin Ryder, Neil Everson, Frank McKeown and John Regan
Keynote speaker Glenn Miller
Delegates met for a morning of education and networking
Photos courtesy of REAL SERVICES PHOTOGRAPHY INC.
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.
News and Resource for Members
5REAL infoJune
2015
Wall mount push button lock box
$26.40 ea.*
Wall mount key safe provides secure storage of keys or access cardsConvenient push button locking mechanism in familiar alpha/ numeric telephone keypad formatSet your own combination using up to 12 letters, numbers, or bothLarge buttons for ease of use, even in low light conditions3-1/8in (79mm) wide durable metal constructionLarge internal cavity and removable key hook prevents jammingProtective weather cover prevents freezing and jamming
* All applicable taxes are extra. Prices subject to change.
New item
2015 summer attraction discounted tickets
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
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
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Clear communication leads to successCommunicating 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 commun-ication 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,
This article appeared in RECO’s ‘For the RECOrd’, April 24, 2015, and is reprinted with permission.
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.
MLS® activity for the month of MayWatch your email for the monthly stats release and charts. New for 2015 – the stats maps and pie charts will be included with your monthly stats email.
You can also find the RAHB stats on: www.rahb.ca, REALTOR Link®: Market Data & Stats, RAHB blog: http://blog.rahb.ca (use tags "stats" and "stats maps".)
the hamiltonspectatorreadershipTotal WeeklySubscribers
Kia GolafshanColdwell Banker-Burnhill Realty Inc., Brokerage
David BergeronCushman & Wakefield Ltd., Brokerage
MPAC and GeoWarehouse – MPAC propertyline UpdateOn 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 GeoWare-house.
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, GeoWare-house 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
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News and Resource for Members
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8REAL infoJune
2015
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.
Thursday, June 25, 2015Hidden Lake Golf Club – 1137 Sideroad 1, Burlington
Registration form (found on MOD or REALTOR Link®) may be faxed to 905.529.4349, emailed to [email protected] or dropped off at the Association office.
Register by June 12 and you will automatically be entered in a draw to win YOUR round for FREE!
News and Resource for Members
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.
OREA designing form for compliance with Bill 55
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2015
What REALTORS® Need to KnowBill 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 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. RAHB also has the form on sale in the Realty Shoppe.
New rules for written offers in effect on July 1, 2015Earlier 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 broker-age 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.)
