REAL info DECEMBER ● 2016
News and Resources for MEMBERS
FEATURE
Musings from RAHB CEO George O'Neill – page 2
RAHB NEWS
RAHB dues deadline December 31, 2016 – page 3 RAHB welcomes new members! – page 4 Holiday hours – page 5 RAHB Annual Election Meeting highlights – pages 6-9 Recap: REALTORS®4Kids Charity Auction – page 10
MLS®/TECHNOLOGY
Searching for Mixed Use/Institutional listings – page 11
MEMBER SERVICES
Professional Development for REALTORS® – page 11 Our candidates brought the heat! – page 12 Queens Park: We came, we saw, we met! – page 13 Ethics corner – financing conditions – page 14 Realty Shoppe – page 15 RAHB in the community – page 16 Zoning resources for REALTORS® – page 16 The NEW GeoWarehouse is here! – page 16
SERVICES SPOTLIGHT
What is RAHB's most valuable member service? – page 17
CREA/RECO NEWS
REALTORS® give and raise over $91 million! – page 18 CREA prizes – it pays to complete a survey! – page 18 RECO introduces fee changes and new fees – page 19
RAHB REALTORS® CARE
Bowling for charity – page 20
MARK YOUR CALENDAR
What's coming up at RAHB – page 20
Empowering REALTORS® to Succeed
News and Resource for Members
MUSINGS from RAHB CEO George O'Neill Established in 1921, the REALTORS Association of Hamilton-Burlington (RAHB) represents more than 2,900 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 Statement Empowering REALTORS® to succeed. President
Kim Alvarez 905.407.7046 President-Elect
Lou Piriano 905.628.6625 Vice-President
Jack Loft 905.304.3303 Immediate Past President
Donna Bacher
905.520.1946
Directors
Ann Forbes Arndt 905.574.3038 Nikola Bucalo 905.388.1110 Kathy Della-Nebbia 905.574.4600 Gary Herron 905.388.1110 Paul Martindale 905.572.9465 Andrew Robertson 905.308.8333 Bob Van de Vrande 905.332.4111 REALinfo is published monthly by the REALTORS® Association of HamiltonBurlington (RAHB)
Another year is coming to a close and already, with the election of the new members to the 2017 Board of Directors, we are planning for next year. The planning begins right away in December when your Board of Directors will be discussing goals for the Association at their planning meetings on December 6 and 7, 2016. The outcome from these meetings are what will set the agenda for 2017 and, possibly, beyond. Also looking ahead at next year, we will be introducing RAHB’s own Matrix MLS® System before the spring market. I am excited to tell you that this will truly be a made-for-RAHB system, and our system will be compatible with the regional Matrix system. Be sure to watch our regular updates in The Shift for the most up-to-date information. Again looking at next year, RAHB’s annual REALTOR® CONNECTIONS AGM, Conference and Trade Show is shaping up to be another great event. It will be held three weeks earlier than usual, on March 9, 2017. Watch for the all the details coming to your email inbox and in REALINFO – you won’t want to miss it! Even though there is a lot to look forward to in 2017, I would be remiss if I didn’t also take a brief look back at one of RAHB’s marquee events – the REALTORS® 4Kids Charity Auction. It was held on November 17, 2016, and it once again showed what great things REALTORS® do in their community. The final tally isn’t in yet, but it appears that we raised at least $60,000 for The Children’s Fund – that is an impressive amount! What’s even more impressive is that, over the 28 years RAHB has supported The Children’s Fund, our total donations equal just over 1 million dollars! Congratulations to everyone who has supported this event and this cause through the years – you have done great work for your community. As 2016 draws to a close, I would like to wish you and yours a happy and safe holiday season and a prosperous new year. Best regards,
505 York Boulevard, Hamilton ON L8R 3K4 T.: 905.529.8101 F.: 905.529.4349 MLS® F.: 905.529.6636 Help Desk T.: 905.667.4650 Realty Shoppe: T.: 905.529.5979 F.: 905.529.7109 Email: info@rahb.ca Web site: www.rahb.ca Intranet site: www.realtorlink.ca Editor: Valerie Webster Editorial Assistant: Sheila Sferrazza Design: Maggie Inglis In-house Products: RAHB Print Services
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The Association wishes you and yours a happy and safe holiday season and a prosperous new year.
News and Resource for Members
RAHB NEWS RAHB dues deadline December 31, 2016 The quarterly RAHB dues have been billed and emailed to you as part of your November monthly invoice. Please note that dues are due and payable no later than December 31, 2016.
125.00 28.75 77.50 30.06 $ 261.31
$
FULL MEMBER – RAHB dues (January - March) – OREA dues (January - March) – CREA dues (January - March) – HST Total
75.00 28.75 77.50 23.56 $ 204.81 $
SENIOR MEMBER* – RAHB dues (January - March) – OREA dues (January - March) – CREA dues (January - March) – HST Total
Acceptable methods of payment: In Person: VISA, MasterCard, Interac, Cash or Cheque By Phone: VISA or MasterCard Online through Fusion: VISA, MasterCard, AMEX, VISA Debit NEW Online: CIBC/PC Financial, Royal Bank, Scotiabank, TD Canada Trust – for assistance in set-up, please call Karin at 905.529.8101 x258.
Pre-Authorized payment subscribers will be processed on Wednesday, December 21, 2016.
A reminder about notifying RAHB of terminations in your office
Brokerages are responsible for notifying RAHB when members in their office resign or leave. Notice must be received by RAHB within seven business days of the member leaving. If notice is delayed beyond the seven business days, the Brokerage will be assessed a penalty of $50 per incident. (RAHB Bylaw, Article 4, Section 1.02)
*RAHB discontinuing Senior memberships – unless you are already a Senior Member!
At their recent meeting, the Board of Directors reviewed the Senior Member category and decided that RAHB will no longer offer a reduced Senior membership dues rate as of January 1, 2017. HOWEVER, members who are currently classified as Senior Member will continue to benefit from the reduced rate as long as they are a RAHB member. Qualifications for Senior membership are that you are at least 65 years old and have been a member of RAHB for at least 25 years. If you meet these qualifications by December 31, 2016, please notify us by sending a copy of photo identification clearly showing your date of birth to Camryn at camrynh@rahb.ca. Please note that we are unable to process status changes to Senior membership from January 1, 2017 onward. If you have questions about this change in policy, please contact Camryn at camrynh@rahb.ca.
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News and Resource for Members
RAHB welcomes new members! The REALTORS® Association of Hamilton-Burlington extends a warm welcome to its newest members from October 20 to November 23, 2016!
Jerry Demedeiros Apex Results Realty Inc.
Sarah Latimer
Bradbury Estate Realty
Minki Banwait
Bridgecan Realty Corp.
Joseph Meredith Century 21 Dreams Inc.
Elaine Woodley
Coldwell Banker-Burnhill Realty Inc.
Keller Williams Edge Realty Inc.
Roni Legare
Judy Marsales Real Estate Ltd.
Beth Lindsay Zhiyu Xie
RE/MAX Escarpment Realty Inc.
Tami Gillespie
Jennifer Connell
RE/MAX Escarpment Lisa Weber Realty Inc.
Marci McKay
Heidi Lang Tom Snelling
Linda Davies Real Estate Ltd.
Heritage Realty Inc.
Agostino Calandrino Bradley Dimic Sarbjit Singh
Homelife Professionals Realty Inc.
Steve Lottridge Beth Warwick Lianne Grant Steven Mazaris Michael Di Roma
Keller Williams Complete Realty Inc.
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Rob Pigozzo Steve Manning Jessica Alexopoulos Kristeena Berube
2016
Dave Dunn Krisztina Bencsics Royal LePage Burloak Real Estate Services Inc.
Danny Odisho
Royal LePage State Realty Inc.
Soledad Martis
Royal LePage Supreme Realty Inc.
Micah Lenahan Birtch
Sotheby’s International Realty Canada
Elva Meadows
Sutton Group About Town Realty Inc.
Cayla Altorf Rachelle Bernardi
RE/MAX Real Estate Centre Inc.
The Listing House Real Estate Brokerage Inc.
Tanya Grmusa Michel LeBlanc Eva Nitrai
Zoocasa Realty Inc.
Right At Home Realty Inc.
Lauren Haw
News and Resource for Members
Holiday hours The RAHB office will maintain the following hours for the upcoming holiday season:
CLOSED Friday, December 16 from Noon – 2 p.m. (but open regular hours otherwise) OPEN December 19 – 23, 8:30 a.m. – 4:30 p.m. CLOSED December 26, 27, 28, 29 & 30 REOPENING at 8:30 a.m. on Monday January 2, 2017
MLS® Help and Photos
If you require help with Fusion when the association office is closed, the on-line Help is always available. Click on “Help” and “On-line help”, and you can read and download “how to” instructions and watch tutorials. If you require help with Matrix, click on the blue Help tab where you will find training guides and video tutorials. The association photographer will be unavailable to take photos for broker loaded listings entered from December 23, 2016 to January 1, 2017.
Please upload your own photos between these dates. Here’s how: 1. Roll your mouse over the Add/Edit tab in Fusion. Click Edit Listings. 2. Click the Edit button beside the listing that you would like to add photos to. 3. Click on the blue Images on the left hand side of the screen. 4. Click on Upload Images. 5. Use the Browse button, and navigate to where your image is located and select the image you want to upload. If uploading more than one image, click on the first image so it is highlighted in blue, then hold down your shift key and select the last image in your file, which will highlight all the photos in-between. 6. Click Open and the pictures should appear on your screen. 7. You may click Edit under each photo to add a description, change the room name (Exterior Front is the default) or Show Crop Tool (zoom in on the photo so it fills the frame). 8. You may click the Change Display Order button to change the order in which your photos appear. Drag and drop your images in any order you wish. 9. Click Save. 10. When complete, click Close.
Realty Shoppe
The Realty Shoppe will maintain the same holiday hours as the RAHB office, with the following addition:
Wednesday, December 14, 2016 – Realty Shoppe closed all day for inventory (Please note that the Realty Shoppe will also be closed from Noon til 2 p.m. on Friday, December 16 – the RAHB office will be closed the same hours.)
Listing Packages
The last delivery date to member offices (if scheduled) before the Association holiday closure is Friday, December 23, 2016. Schedule resumes on Monday, January 2, 2017. December
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News and Resource for Members
RAHB Annual Election Meeting highlights Six new directors were elected to the 2017 Board of Directors at the Annual Election Meeting on Wednesday, November 30 at the Royal Botanical Gardens. Congratulations to Ann Forbes Arndt, Ralph Frisina, Paul Hammond, Jack Loft, Diane Price and Richard Weima on their election to the Board! The election of the President-elect will take place before the end of December, and you can read the results in the January issue of REALINFO. It was announced that 2016 President Kim Alvarez has resigned from the RAHB Board as of January 1, 2017 and will not be continuing as Immediate Past President. Donna Bacher has been appointed as Immediate Past President.
2017 Board of Directors Lou Piriano, President
Donna Bacher, Immediate Past President
Ann Forbes Arndt
Nikola Bucalo
Kathy Della-Nebbia
Ralph Frisina
Paul Hammond
Jack Loft
Diane Price
Andrew Robertson
Bob Van de Vrande
Richard Weima
The new Board was sworn in at the Annual Election Meeting and will take office January 1, 2017. Watch January’s issue of REALINFO to learn more about your Board members!
Other meeting highlights:
• RAHB members approved Bylaw amendments which: • Added more flexibility to the process RAHB follows for members’ non-payment of dues.
• Clarified that a candidate for election to the Board must be a member of RAHB for at least two years immediately prior to their nomination.
• Karan Barker Scholarships were presented to five students.
Brokers on the Board of Directors). These changes will take effect for the 2018 Board of Directors.
• Allows that, where there are insufficient candidates on the Board to fill the role of President-Elect, previous senior officers who are on the Board again, and who have experience as Directors within the • Changed the timing of the mailing of the slate of last five years, have chaired a committee and candidates to all members, from 14 days to 10 days completed their term as Directors, are eligible to prior to the Annual Election Meeting. run for the position. • Changed the number of Directors from 12 to 11, • Allowed the change of title from President to Chair, and the number of Brokers of Record or Managers and President-Elect to Chair-Elect, as approved last on the Board to one from the current three year, to take effect as soon as practicable. (although there is still a requirement for three • Changed the timing of the election of the President-Elect from immediately following the election meeting to sometime after the election but before December 31. December • Added flexibility for scheduling – or not scheduling – annual election meetings when there are just enough candidates to fill vacancies on the Board.
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News and Resource for Members
continued from page 6 • Changed the time at which Rules and Regulations amended by the Board will take effect, from “immediately” to an appropriate date which allows the information about the change to be communicated to the membership.
REALTOR Link® – Just go to CREA > Membership Statistics & Research and > Consumer Insights. • The national ad campaign, and the strategies in a campaign.
• Changed the number of members on the Arbitration Committee from 12 to seven.
• The REALTOR® Action Network and how members can participate in calls to action to effect change in Ottawa.
• Combined the Audit Committee and Finance Committee into the Audit, Finance and Risk Committee.
• Changes to REALTOR.ca that benefit members and the public.
See how the Bylaws were amended at http://rahb.ca/ByLaw/2016/113016BylawsChanges.pdf
• How members can participate on CREA committees.
• Representatives from the Canadian Real Estate Association presented their Open House, explain ing how CREA works on behalf of all members across Canada. In particular, they discussed: • The research they undertake and the research reports available to members on REALTOR Link®. (find reports such as the D.A.N.G.E.R. Report, What Consumers are Looking For on REALTOR.ca, Great Expectations and REALTOR® Value on
• How REALTORS® contribute to their communities.
• The 2017 Board of Directors was sworn in by CREA President Cliff Iverson
Winners!
• The first 150 members who registered in advance to attend the Annual Election Meeting and attended the meeting received $15 Tim Horton cards. • Winner of the 2017 RAHB dues draw was Greg de Denus (City Brokerage).
2016 Karan Barker Scholarship Recipients The Karan Barker Scholarship is named for Karan Barker, a 25-year RAHB employee and former Executive Officer. Karan was an outstanding EO, winning both the Tony Kafun Award from OREA and the W. Frank Johns Award from CREA in recognition of her contributions to our real estate association and the real estate profession. Scholarships are presented each year to students who are children or grandchildren of RAHB members or RAHB staff. All recipients are attending or will be attending university or college. They must demonstrate academic excellence and a high level of involvement in their school or the community. To date, including this year, we have awarded $86,500 to 65 students!
This year's winners: Annie Cupido is the granddaughter of Mario Cupido of Century 21 Aberwin Realty Inc. Annie is a graduate of St. Jean de Brebeuf Catholic Secondary School in Hamilton and is currently enrolled in the concurrent BA/Bed program at Brock University. She intends to become a high school teacher. While in high school, Annie was Co-Chapter President and program initiator of Best Buddies, a member of the athletic council, school prefect, and altar server. She was captain of the Reach for the Top Academic Challenge, field hockey and track and field teams, and well as a member of the volleyball, slo-pitch and badminton teams. She was also a member of Campus Ministry and served as a Hamilton Cardinals Intercounty Baseball League volunteer. December
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News and Resource for Members
continued from page 7 Amy Lewyckyj is the daughter of Ron Lewyckyj of RE/MAX Escarpment Realty Inc. Amy is a graduate of Bishop Tonnos Catholic Secondary School and is now studying engineering at Queen’s University. She intends to specialize in electrical engineering and is also considering getting an MBA after she receives her Bachelor degree. In high school, Amy was a member of the Titan for Titans, Think We and Math clubs, and was on the Grad Committee and athletic council. She was a member of the indoor/outdoor varsity soccer, badminton and touch football sports teams. Especially involved in soccer, Amy was a house league soccer coach, and played competitive soccer with the Ancaster Titans for nine years. Amy was also an Ancaster Soccer Clubreferee for four years and instructed the Ancaster Soccer Pups one summer. She also participated in theMcMaster Science and Engineering Olympics, Waterloo Math Contest and her school’s Hawaii Soccer tournament. Robin Martin is the daughter of Todd Martin of RE/MAX Escarpment Realty Inc. Robin graduated from Sherwood Secondary School and is now attending St. Michael’s College at the University of Toronto, majoring in Criminology and Socio-legal studies and women’s studies. After getting her BA, Robin intends to pursue a career in law so she can help others. In high school, Robin was a member of the Sherwood repertoire band, enrichment band, music council and student council. She was also involved in Scouting for 13 years. She completed the YMCA Leadership in Training program and worked as a day camp counsellor for three summers.
Mackenna Mulligan is the granddaughter of Bob Secord of Keller Williams Edge Hearth & Home Realty. Mackenna is a graduate of Westmount Secondary School. She is currently attending McMaster University in collaboration with Mohawk College, and is in the Nursing program. She hopes to work in a hospital when she is finished her four-year course of study. Mackenna danced competitively for Freedom Studios while she was in high school. As well, she also worked with the Westmount Athletic Council – and was president of the council one year – volunteered with the Hamilton Policy Association at various charity events, volunteered at the Road2Hope Marathon and organized the “kisses for a cause” fundraiser for Jumpstart. She continues to work part-time, dance and volunteer. Michael Taylor is the son of Heather Lindsay of Harbour Properties Realty Inc. Michael graduated from Dundas Valley Secondary School and is now attending Wilfred Laurier University in the Honours Bachelor of Business Administration program. After he completes his degree, Michael is considering either working on an MBA or pursuing corporate law. In high school, Michael was involved in school bands, sports teams, student government, academic competitions and community events. He also volunteered at Dundas Community Services where he assisted senior citizens with various tasks, and he independently organized a community-wide bottle drive to raise money for the local high school and a local women’s shelter. He honed his leadership and social skills through executive and mentoring positions within clubs at his school. December
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News and Resource for Members
Gathering for the Annual Election Meeting
Scholarship Task Force Chair Jamie Edwards (left) with recipients and/or parents
Voting on Bylaw amendments
Nomination Committee Chair Donna Bacher
CREA President Cliff Iverson during CREA Open House presentation
2017 RAHB Board of Directors (Paul Hammond and Diane Price were unable to attend) December
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News and Resource for Members
Recap: REALTORS®4Kids Charity Auction We want to thank you, our members, for another successful REALTORS®4Kids Charity Auction all in support of the AM900 CHML/Y108/Fresh Radio 95.3 Children’s Fund! We had a packed event full of REALTORS® who were eager to show their generosity. Whether it was bidding on our selection of live and silent auction items, purchasing raffle tickets, donating prizes or participating in the event itself, we couldn’t have done it without your time, dedication, and support for this great cause! We look forward to another successful run in 2017!
Congratulations to Our Raffle Prize Winners! Beer, Barrow & Booze Raffle
Booze (Single Malt) – Hank Balfoort, RE/MAX Escarpment Golfi Realty Inc. Bucket of Beer – Ron Lewyckyj, RE/MAX Escarpment Realty Inc. Wheelbarrow of Wine – Bruce Moran, Chase Realty Inc.
Mystery Suitcase Raffle
500 Best Buy Gift Card – Amy Gallant, Royal LePage State Realty 500 Stock your Bar – Stephanie Lovie, Royal LePage Macro Realty $ 500 Shopping Spree – Angelo Fazzari, RE/MAX Escarpment Realty Inc. $ $
Heads and Tails Game $
3,000 Ring – Blair Gillis, Royal LePage State Realty
4K ds
REALTORS®
To learn how you can donate to next year’s REALTORS®4Kids Charity Auction, contact Sheila at sheilas@rahb.ca!
Event sponsors:
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Thank You All for Your Support Again this Year!
News and Resource for Members
MLS®/TECHNOLOGY
MLS® Update – searching for Mixed Use/Institutional listings It has come to our attention that searching for mixed use or institutional listings in the regional Matrix system will not return the specific results for those categories of properties. To find mixed use or institutional listings in regional Matrix, select Sub Type = Other. You will then have to look through the results to find the properties that interest you. Looking to send holiday cards from your contacts in Matrix? Check out our video on how to create a mailing list in Matrix at http://bit.ly/RAHBlabels
MEMBER SERVICES
Professional Development for REALTORS® MPAC Assessment 101 – Brent Hammond Thursday, December 8, 2016 10 a.m. – Noon Free
Investing for Success – Alex Gabrini Monday, January 23, 2017 10:30 a.m. – 12:30 p.m. Free
NEW GeoWarehouse – Theresa Corindia Friday, December 9, 2016 10 a.m. – Noon Free
Assignments, Condos and Others – Lou Radomosky Wednesday, January 25, 2017 9:30 a.m. – 12:30 p.m. $ 45+HST
How to Multiply Your Income in 2017 – Doug Dane and Jacquelyn MacKenzie Tuesday, December 13, 2016 10:30 a.m. – Noon
Understanding Newer Homes – Andrew McCarthy Wednesday, February 1, 2017 10 a.m. – Noon Free
Master LinkedIn Bootcamp – Amyn Chagan Monday, January 16, 2017 9 a.m. – Noon $ 79+HST Early Bird (prior to January 9, 2017) or $99+HST Regular
Designation Courses
Master Facebook Bootcamp – Amyn Chagan Monday, January 16, 2017 1 p.m. – 4 p.m. $ 79 +HST Early Bird (prior to January 9, 2017) or $99+HST Regular
SRS – Seller Representative Specialist – Gareth Jones Tuesday and Wednesday, February 7 & 8, 2017 9 a.m. – 4:30 p.m. $ 325+HST
PSA – Price Strategy Advisor Certification – Gareth Jones Thursday, February 9, 2017 9 a.m. – 4:30 p.m. $ 199+HST
NEW
All courses will be held in McCullough Room at the RAHB office (lower level). To register, or for more information, contact Angela at 905.529.8101 x 233 or angelam@rahb.ca. December
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News and Resource for Members
Our candidates brought the heat! On Monday, November 21, 2016, RAHB held its first-ever Chili Days – A Meet the Candidates Chili Cookoff! Nine RAHB members competed with their best chili recipes to see who would reign Chili Supreme. While all of the dishes were truly delicious, it was election candidate Scott Bouman, that took home the title with his En Nogada – Chili Con Carne recipe. Congratulations to all that participated, and we look forward to holding this spicy election lunch event again next year!
Chili Days Participants: Bacher’s Beanarama
Donna Bacher, Royal LePage State Realty
(Winner!) En Nogada – Chili Con Carne
Scott Bouman, Ambitious Realty Advisors Inc. (Election Candidate)
Fearless Fart-free Chili
Gloria Payton, L. Piriano Real Estate
Hunks of Burning Love
Andrew Robertson, Keller Williams Complete Realty
Jan’s Chili
Ann Forbes Arndt, Royal LePage Macro Realty (Election Candidate)
Marg’s Marvelous Chili
Margaret Reid, Royal LePage State Realty
Sans Viande
Nancie Mleczko, Coldwell Banker Community Professionals
The Shift
Richard Weima, Right at Home Realty Inc. (Election Candidate)
Wack Jacky’s 7 Bean Chili
Jack Loft, RE/MAX Escarpment Realty Inc. (Election Candidate)
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News and Resource for Members
Queens Park: We came, we saw, we met! RAHB Government Relations Committee representatives attended OREA’s Political Action Conference in Toronto (November 20-22) and met with area MPPs to discuss issues of importance to REALTORS® and homeowners. The two issues under discussion were the land transfer rebate for first-time home buyers and the government’s proposed mandatory home energy audits. • Ontario REALTORS® lent their support to the proposed increase in the land transfer rebate to first-time home buyers, from $2,000 to $4,000. While OREA originally hoped for a complete rebate for first-time home buyers, the doubling of the rebate is still good news. • As part of Ontario’s Climate Change Action Plan, the government proposed the implementation of a Home Energy Rating & Disclosure (HER&D), which mandates “time of listing” energy audits for homes advertised on a “listing service”. The proposal would add another cost to the home selling process and put home owners of old or energy inefficient property at a disadvantage. In addition, it could cause an unfair burden on low-income home owners who may not be able to afford the improvements recommended by an audit. OREA’s concerns are that the existing proposal would place an additional regulatory burden on REALTORS® and MLS® Systems, single family home owners would be unfairly targeted and the proposal lacks consumer protection from unregulated energy audit services. Instead of the mandatory HER&D program, Ontario REALTORS® asked for a return to a program like the voluntary Energy Savings Program, which actually produced results, and regulation for the energy audit industry.
RAHB PAC representatives at Queen’s Park:
(l to r) RAHB staff Valerie Webster, Kathy Della-Nebbia (Royal LePage State Realty), Nicolas von Bredow (Royal LePage Macro Realty) and Nikola Bucalo (Coldwell Banker Community Professionals). Missing from the photo is Lou Piriano (L. Piriano Real Estate Brokerage).
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News and Resource for Members
Ethics corner – financing conditions The following article was written and published by Mark Weisleder, in his newsletter dated October 29, 2016. Reprinted with permission.
Now that we have all the new mortgage rules, it is more important than ever before to include the financing condition in any offer or be otherwise prepared for the consequences.
1. Pre-approvals are no guarantee you will obtain your financing
Too many buyers are cavalier about submitting offers without a financing condition, especially during the pressure of a bidding war. You must understand that even with a pre-approval, the lender must be satisfied with its own appraisal. The foundation for most appraisals is what would a willing buyer pay a willing seller, WITHOUT pressure? In a bidding war, there is almost always pressure on the buyer. This is why the appraisal will likely be lower than what the buyer offered and the lender will offer you less money than you hoped for. The answer is always to have an extra 5-10% of the down payment in reserve to protect you. In a condominium purchase, if it is conditional upon review of a status certificate, use that time to also make sure your financing is in order.
2. Lenders can change their mind right up until the day of closing
Even if you are approved after you sign your agreement, the lender can still change their minds based on anything which they may learn before they advance funds. There are usually many conditions attached to any loan approval, such as verification of income, down payment, employment. Make sure you work with your mortgage broker to satisfy all of these conditions and requirements as soon as possible in the process. The worst words a lawyer can hear from a lender on the day of closing is “The file is in underwriting�. This typically means that someone else is reviewing the entire file because issues have arisen. In some cases this can result in the entire loan being cancelled, right on the day of closing. In our firm, since we receive and send funds via wire transfer, we are fortunately able to complete deals even when lenders are late transferring funds to our trust account.
3. Always know the net amount you will receive from your lender
Every mortgage commitment is different. Some may contain up-front fees for arranging the loan, appraisals, CMHC fees and PST, interest to the interest adjustment date. All of these fees are deducted right off the top, before the balance is sent to your lawyer on the day of closing. The bottom line is you must know the exact amount that will be sent to your lawyer on closing, to make sure you have enough to make up the rest of the down payment, land transfer tax and legal fees. At our firm we remind clients to send us their mortgage instructions early in the process so that we can get them the net amount they will need to complete the transaction in a timely manner.
4. Get it in writing if buyer wants no finance condition in the Agreement
If the buyer does go ahead and tell you to put the offer in without a finance condition, get these instructions in writing. It is not enough to write the finance condition in the offer and then have the buyer strike it out and initial it. It is better to use a separate form. OREA has form 127 which makes it clear that the buyer is confirming to the buyer brokerage that they understand the risks in making an offer without conditions.
Mark Weisleder Email: mark@realestatelawyers.ca Website: www.RealEstateLawyers.ca Direct Line: 416.702.2499 Toll Free Tel: 1.855.466.3801
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News and Resource for Members
Realty Shoppe Popular seasonal item SELLING OUT fast!
.48¢ ea.*
2017 Calendar magnets Our #1 marketing product – perfect for mass marketing campaign, mailing with Holiday cards, or handing out at open houses, even in the new year. In full colour, on high quality paper and complete with envelope. Just add your business card.
NEW Calendar with magnet – A Holiday Gift For You!
.55¢ ea.*
Only while quantities last - don’t miss out! Call or email TODAY.
Master Lock lockboxes – with weather covers to protect from rain and snow! Members are reminded to be particularly vigilant in the use of their lockboxes. The lockboxes are an important tool to your industry - practice the following measures at all times: 1. When leaving a location where you have used the lockbox, insure the lockbox is locked again: spin the dial of the dial lockbox once it is shut, and re-key the number combination on the push button style to close. 2. Never give out a combination to someone who you are not certain is a salesperson, particularly based on a request made via cell phone. If you are uncertain about the caller, call the salesperson back at the listing office for confirmation.
33.25 ea.*
$
Members are reminded of “Rules and Regulations” Section 2 – MLS® Listings, Sub-section 2.17 Members shall ensure that lock boxes installed on each of their listings are set with a unique code for the security of their Seller’s property. Further, members shall change the lock box combinations, as required during the course of the listing to maintain reasonable security, and not use any preset manufacturer’s code. Fines of $50 for the first offence and $200 for a second offence will be levied against members found to be in breach of this policy.
31.35 ea.*
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Mark your calendar! Realty Shoppe closure
The Realty Shoppe will be closed on Wednesday, December 14, 2016 for inventory. No sales or orders can be made. We apologize for any inconvenience – your cooperation is greatly appreciated! Monday to Friday, 8:30 a.m. – 4:30 p.m. T.: 905.529.5979 F.: 905.529.7109 E.: realtyshoppe@rahb.ca * All applicable taxes are extra. Prices subject to change.
December
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News and Resource for Members
RAHB in the community National Housing Day was November 22, 2016 and RAHB was a proud sponsor of two National Housing Day events in our community:
Halton National Housing Day
This informative session covered the issues and challenges of affordable housing in the Halton Region. The event featured a creative problem solving facilitation led by Sheridan College as part of a multi-year project being undertaken as part of a Social Science and Humanities Research Council Community Innovation Fund.
City of Hamilton National Housing Day
This year’s National Housing Day event from Hamilton’s Housing Services Division focused on bringing people together to participate in a facilitated discussion regarding how the City could develop balanced neighbourhoods in Hamilton. The event fostered an environment of common purpose and understanding between stakeholders in the housing sector. https://www.hamilton.ca/social-services/housing
Zoning resources for REALTORS® Looking for zoning resources for properties in Hamilton and Burlington? Check out the following websites:
Hamilton Properties:
Hamilton Economic Development Zoning Lookup Tool https://spatialsolutions.hamilton.ca/ZoningLookup/ **Tip: This new tool contains multiple information layers. You must type in "RD" instead of "road", "ST" instead of "street", etc. for the map to locate addresses.
City of Hamilton Mapping Site http://map.hamilton.ca Zoning Verifications Contact the City of Hamilton at building@hamilton.ca or 905.546.2720
Burlington Properties: Zoning information & Map from City of Burlington https://www.burlington.ca/en/zoning Zoning Verifications Contact the City of Burlington at 905.335.7642
The NEW GeoWarehouse is here! As of Monday, December 5, 2016, when you visit GeoWarehouse through RAHB’s single sign on, Fusion or Matrix, you will land on the NEW version of GeoWarehouse. While GeoWarehouse will not be fully cutting over to the new version until January 2017, they are giving you the chance to become familiar with this new version well ahead of time. You will still be able to navigate to the more familiar version if you prefer, but you will always be landing on the new version when you visit the site.
December
REAL info
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2016
News and Resource for Members
SERVICES SPOTLIGHT
What is RAHB’s most valuable member service? This month, instead of focusing on one member service, we’re going to look at what members have had to say about the services that are most valuable to them. In a large member survey done in 2014, members identified RAHB’s five most valuable member services as: 1. MLS® and technology 2. Enforcement of rules/professional standards 3. Professional development 4. Communications to members 5. Government relations In a more recent survey performed by Kitestring Media on RAHB’s behalf, members said that RAHB’s most valuable services are: 1. MLS® 2. Statistics (both SIM and monthly stats reports) 3. Professional development 4. Realty Shoppe 5. Communications (tied with …) 5. Professional standards 6. RAHB promotion through advertising 7. REALTOR® CONNECTIONS AGM, Conference & Trade Show 8. Membership/committee meetings 9. Convenient payment plans (tied with …) 9. Political action mandate Other services that didn’t make the “top” list were REALTORS® 4Kids Charity Auction, Karan Barker Scholarships, AD&D insurance and meeting room rentals. Your RAHB membership provides numerous and diverse services. Which are most important to you?
December
REAL info
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2016
News and Resource for Members
CREA/RECO NEWS
REALTORS® give and raise over $91 million! A message from Canadian REALTORS Care® Foundation Chair Ralph Fyfe:
I don’t need to tell you that the REALTOR® community in Canada is a generous bunch. As you know, REALTORS® across our country raise and donate tons of money and volunteer countless hours of their time for the charities close to their hearts. The Canadian REALTORS Care® Foundation is committed to sharing their stories with the hope of inspiring further good deeds. We also think it’s important to try our best to measure the impact of REALTORS®’ generosity. To do just that, we asked REALTORS®, real estate boards, associations, franchisors and affiliated charitable foundations how much they gave and raised for charity over the past four years (2012-2015). We’re pleased to announce that the result is over $91 million, which speaks volumes about the generosity of Canadian REALTORS® and the meaningful role they play in the communities where they work and live. Please take a moment to watch a short video we put together to celebrate the charitable achievements of Canadian REALTORS® at http://listserv.realtorlink.ca/t/267459/6311560/116830/45/
CREA prizes – it pays to complete a survey!
Congratulations to RAHB members Norma Bond (Right At Home Realty, left) and Jamie MacCorkindale (Right at Home Realty, right) – pictured here with RAHB CEO George O’Neill (centre)! Norma and Jamie each won travel tech kits for responding to CREA’s 2016 Member Survey.
December
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2016
Congratulations also to Lynne Riddell (Keller Williams Edge Realty, pictured with George O’Neill), who also won a travel tech kit for completing CREA’s 2016 Member Survey.
News and Resource for Members
RECO will be introducing fee changes and new fees, as of January 1, 2017: New Salesperson
$
590 ($390 + $200 application review fee)
New Salesperson – Interprovincial
$
590 ($390 + $200 application review fee)
New Broker (change from salesperson to broker)
200 application review fee for a change during a registration cycle (no fee if processed with renewal of registration)
New Broker – Interprovincial
$
New Brokerage/Partnership/Sole Proprietor
$
New Branch
$
Renewal Salesperson
$
Renewal Broker
$
Renewal Brokerage/Branch/Partnership/Sole Proprietor
$
Reinstatement Salesperson
$
Reinstatement Broker
$
Reinstatement Brokerage/Partnership/Sole Proprietor
$
Reinstatement Branch
$
Transfer
$
Notice of Name Change Salesperson/Broker
No fee
Notice of Address Change (closure) – Branch
No fee
Notice of Address Change Brokerage/Partnership/Sole Proprietor
No fee
$
590 ($390 + $200 application review fee) 590 ($390 + $200 application review fee) 390 390 390 390 590 ($390 + $200 application review fee) 590 ($390 + $200 application review fee) 590 ($390 + $200 application review fee) 390 100
Notice of Change Brokerage/Partnership/Sole Proprietor
200 application review fee (no fee if change is limited to real estate trust account) $
Termination
No fee
Educational Equivalency Assessment
$
Continuing Education
$
100 44
Website If you have any questions about these changes, please contact RECO at: www.reco.on.ca registration@reco.on.ca T: 416.207.4800 Toll free: 1.800.245.6910
The Real Estate Council of Ontario is responsible for regulating real estate December professionals in the province info REAL 2016 on behalf of the Ontario 19 government. We protect the public interest through a fair,
News and Resource for Members
RAHB REALTORS® CARE
Bowling for charity Royal LePage Burloak Real Estate Services’ 7th annual Chili Bowl raised $4,246.71 to support Halton Women’s Place and The Carpenter Hospice! The Chili Bowl is Royal LePage Burloak’s major Fall fundraising event. Over 130 people attended the event, and participants included sales representatives, administrative employees and community sponsors. Many participants dressed up in Halloween costumes, with prizes awarded for best team theme, best individual costume, best bowling technique and worst bowling technique. This was the largest group of bowlers so far for the event. Over the past 13 years, Royal LePage Burloak Real Estate Services has raised over $270,000 in support of Halton Women’sPlace and the Carpenter Hospice.
MARK YOUR CALENDAR 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, December 8 – C, 9 a.m. – 11:30 a.m. Thursday, December 15 – C, 1 p.m. – 3:30 p.m. Wednesday, December 21 – C, 9 a.m. – 11:30 a.m. Thursday, January 5 – C, 9 a.m. – 11:30 a.m. Thursday, January 19 – C, 1 p.m. – 3:30 p.m. Register with angelam@rahb.ca.
Board of Directors, Committee and Task Force Meetings
Professional Standards
Monday, December 12 – T, 9:30 a.m.
Awards
Monday, December 12 – T, 10 a.m.
Past Presidents
Tuesday, December 13 – T, 3 p.m.
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2016
Board of Directors
Thursday, December 15 – T, 10 a.m.
Charity Auction
Thursday, December 15 – P, 1 p.m.
Professional Development See page 11 for a list of courses.
Upcoming Events
Realty Shoppe Inventory Day
Wednesday, December 14 closed all day
REALTOR® CONNECTIONS 2017
AGM, Conference and Trade Show Thursday, March 9, 2017 Grand Olympia, Stoney Creek Watch for further details
Office Closures
Friday, December 16, 12 p.m. – 2 p.m. Monday, December 26 – Friday December 30