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SAVE THEDATE 26TH
OCTOBER
ANNUAL MEETING
10AM–12PM
More detailsand more exciting
content inside!
SEPTEMBER 2017
ACROSST H E B O A R D
2
Table of Contents
October 26: Save the Date for TREB’s Annual Meeting
Page 3
September 30: Get Creative with TREB at Nuit Blanche Toronto
Page 3
REBBA Review Phase 2 – Provide Your Input
Page 3
SEPTEMBER 27: OREA EMERGE Professional Development Markham
Conference Page 4
Call to Action: Proposed Mortgage Regulations – Act NOW!
Page 4
New Stratus Login Page Page 4
Spotlight On: Market Reports & Information
Page 5
COMING SOON: New TREB Authenticator Page 5
Best Practices Page 6
The Educated Professional Page 7
What’s In Your REALTOR® Toolkit? Page 8
September 14–17: TREB Sponsors Small World Music Festival
Page 8
Privacy Reminder to Members Page 8
© Copyright 2017. All rights reserved.
3
TORONTO CONGRESS CENTRE
650 DIXON ROAD
MEETING FOR TREB MEMBERS ONLY
SAVE THEDATE
26TH
OCTOBER
ANNUAL MEETING
10AM–12PM
From sunset to sunrise on the eve-ning of September 30, 2017, we invite you to join us at Nuit Blanche
Toronto to experience the city trans-formed by arts. Nuit Blanche Toronto 2017 will mark the milestone of Canada’s 150th anniversary of Confederation with the event-wide theme “Many Possible Futures.”
TREB is the Arts Patron Sponsor of
Area 1 of the event. Area 1 is titled the Monument to the Century of Revolutions, curated by Nato Thompson and featuring artwork by the Russian collective Chto Delat. The artwork consists of an array of shipping containers producing a small village; roughly half of the containers will take on a different moment in revolution-ary history, while the other half will house local artist activist groups.
Read about Area 1 here and learn more about TREB’s role in the event here.
Nuit Blanche Toronto is a free, annual, city-wide celebration of contemporary art, produced by the City of Toronto in collaboration with Toronto’s arts com-munity.
Learn more about Nuit Blanche Toronto and all the exhibits at this year’s event by visiting the event’s comprehensive website, nbTO.com.
If you attend the event, share your expe-rience with us on social media, tagging #TREBEvents as well as the festival tag, #nbTO17.
September 30: Get Creative with TREB at Nuit Blanche Toronto
With the window for government submissions closed for Phase 1 of the
review of REBBA 2002 (See TREB position regarding Phase 1 Consul-tation), the industry is now seeking Member input on issues that the pro-vincial government will consider dur-ing its second phase of consultations on updating REBBA 2002 (See initial TREB submission).
Members can also visit OREA’s REBBAreform.ca consultation site to provide feedback on the fill-in sections of the OREA white papers.
Member input will guide TREB and OREA submissions in ear-ly 2018. You can email TREB at [email protected] with any com-ments you want TREB to consider.
This is a great opportunity to express your views and for the industry to be actively involved in modernizing REBBA.
Stay tuned for more updates as they become available.
TREB’s annual meeting is fast approaching and we have lots in store for you, including a keynote address from CIBC Deputy Chief Economist Benjamin Tal who will share his take on the new economic reality; important indus-
try updates; a newly expanded trade show; and a chance to network with your fellow REALTORS®. More meeting details will be released in the coming weeks. Stay tuned!
October 26: Save the Date for TREB’s Annual Meeting
REBBA Review Phase 2 – Provide
Your Input
4
Take the Call to Action now! Time is running out.
TREB recently posted a “Call to Action” message on Stratus regarding the federal govern-
ment’s proposal to introduce a stress test for all uninsured mortgages, mean-ing lower-risk borrowers would have to be approved at 2% above the rate offered to them by their lender. If implemented, this plan can put af-fordability at risk, as it could reduce the home buying power of consumers by up to 20%.
Thanks to all of you who already responded to our call to action. Howev-er, we need more Members to partici-pate in this critical federal campaign to make our voice heard.
What Can You Do?
CREA’s call to action is accessible
through the REALTOR Link® portal. It’s easy and an “email letter” is already prewritten.
If you are a REALTOR® Action Net-work (RAN) member, you only need to enter your home address. Not a RAN member yet? Log in to REALTOR Link®, and after you are prompted to “Join RAN,” you will be able to participate in the call to action. Your password for REALTOR Link® is the same as your WEBForms® ID password.
As a REALTOR®, add your voice to the conversation to ensure the federal government is listening to you.
For more information on the new proposed mortgage measures, visit the Office of the Superintendent of Finan-cial Institutions’ website.
Soon your Stratus login page will be given a new look, but the way you login to Stratus will remain the same.
If you connect to torontomls.net and are presented with this newly enhanced interface, simply carry on and log in as you
normally would. This is a mock-up of how the new login page looks.
If you have questions or are having trouble using the login page, please contact the TREB Help Desk at 416-443-8111.
New Stratus Login Page
OREA is hosting a one-day professional event in Markham that brings together top talent in
the real estate industry to discuss current thinking, practices, and tools that will improve your skills as a REALTOR® and help you grow your business.
Event Details:Date: September 27, 2017Time: 8:30 a.m.–5:30 p.m.Location: Hilton Toronto/Markham Suites, 8500 Warden Avenue (map)
To Register ($79+HST for Members and $109+HST for Non-Members), click here.
There’s content to appeal to every TREB Member, and you can learn more atwww.orea.com/Emerge
SEPTEMBER 27: OREA EMERGE
Professional Development Markham Conference Call to Action: Proposed
Mortgage Regulations – Act Now!
ON OVER 100 TREB SERVICESNEW!
Market Reports& Information
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Later this month, TREB will launch a new Authenticator, providing you with a user-friendly experience and featuring new, better
technology.
Members will be randomly selected to make the switch this fall. Luckily, the process to switch is fast and
simple, and full guidelines will be provided. When selected, you’ll be given a limited number of opportu-nities to switch at a later time.
If you have questions, call the TREB Help Desk at 416-443-8111 for answers.
COMING SOON: New TREB Authenticator
Market ReportsFrom the monthly Market Watch, which features the latest GTA housing mar-ket statistics to quarterly reports that in-clude Community Reports, Commercial Realty Watch, Condo Market Report, and Rental Market Report. TREB provides you with all the latest market intelligence.
Did you know you can also watch TREB’s Director of Market Analysis & Service Channels, Jason Mercer, discuss the monthly Market Watch?
Market Year in Review & Outlook ReportIn January 2016, TREB launched its first ever Market Year in Review & Outlook Report. The 2017 edition provides an over-view of the market in 2016, an outlook for 2017, and discusses some of the issues re-
lated to housing af-fordability, includ-ing transportation infrastructure and housing supply. The next version of the report will be released on January 30, 2018. Stay tuned! Click here to view the report.
MapsLooking to learn more about an area? TREB publishes Research Maps under three broad categories – Commercial, Residential and Condominium.
TREB Maps provide you with a look at all the regions serviced by TREB Member REALTORS®.
Dashboard StatisticsAn exclusive service to TREB Member REALTORS®, Dashboard Statistics is an interactive tool for TREB Members, allowing you to pinpoint facts and infor-mation, including Market Watch Tables, TREB Community Stats, and Historic Housing Stats.
Other Information • Home Price Index
• Housing Charts
• Regional Reports
• House Price Trends
• & More
About the Spotlight CampaignThe Spotlight campaign shows you where to find and how to use different TREB Member Services every other week!
Click here to view the campaign archive.
Don't forget to visit the Interactive Member Tools & Services Map on Stratus for
all 100+ tools and services, any time and on any device.
6
Sept. 18 Legal Concerns for Residential Rental Properties Sept. 19 B.Y.O.D. Collaborate Sept. 19 Basics of Selling a Small Business Sept. 21 Best Practices – Everyday Use of Forms Sept. 21 Conservation Land Securement for REALTORS® Sept. 22 Listing Presentation Sept. 28 Language Skills (Scripts/Objection Handling) Oct. 2 Buying a Resale Condominium: Legal Issues for Salespeople Oct. 3 REALTORS® Guide to the Senior Market Oct. 4 Residential Investment Properties Oct. 5 Facebook Basics for REALTORS® Oct. 10 Commercial Real Estate 101 for Residential Practitioners Oct. 11 Documentation for Buying and Selling Commercial Properties Oct. 11 Investment Analysis and Commercial Networking Oct. 12 Negotiating Strategies for Commercial Leasing Oct. 18 Commercial Basic Finance Oct. 19 The Agreement of Purchase and Sale – Tips and Traps
The Educated Professional
Real estate professionals operate in a highly regulated industry and must follow many rules and policies. Salespeople and Brokers often have questions about how to stay compliant.
TREB, in cooperation with RECO, has developed a Q & A for the most commonly held compliance questions.
This regular column focuses on one topic per month, with the goal of helping you stay compliant in your day-to-day business.
Offers Received by Listing Brokerages
According to Section 35.1 of REBBA 2002, a Brokerage acting on behalf of a Seller must retain, for the period of time prescribed (detailed below), cop-ies of all written Offers that it receives to purchase real estate or copies of all other prescribed documents related to those Offers.
• This legislation applies to every Offer received on behalf of Brokerage Seller client and not just to multiple Offer situations.
• The legislation requires the Agreement of Purchase and Sale (APS) to be in writing and signed by the Buyers.
• Listing Brokerages receiving the APS on behalf of the Seller must keep a copy (electronic or hard copy) of the APS or a copy of the completed OREA Form 801 Offer Summary Document or equivalent, for the following period of time:
• An unsuccessful APS or Form 801 (or equivalent) must be retained in its entirety for one year.
• A successful APS must be retained, in its entirety, by the Listing Brokerage for six years.
• The legislation does not apply to properties for LEASE.
Q) What do I need to do if the Offer is countered back to the Buyer?
A) When the APS is countered back to the Buyer from the Seller, you’ll need to retain a Form 801 or a copy of the APS. The first Form 801 (or equivalent) or APS must stay with the Listing Representative.
All Offers presented, or Form 801 (or equivalent), are one-way documents from the Buyer’s Representative to the Seller’s Representative. They are never to be re-turned to the Buyer’s Representative.
Important: After each APS has been presented to the Seller, the Listing Sales-person must keep the APS or Form 801 (or equivalent), whether accepted, coun-tered back or declined.
Q) What happens when the Co-operat-ing Salesperson only brings one copy of the Offer to the presentation?
A) The Buyer’s Representative should al-ways produce extra copies of the APS, be-cause when the APS has been presented to the Seller, the Listing Salesperson must retain a copy of the APS and/or Form 801 (or equivalent).
Q) What is required to prove that the Buyer’s Representative has a signed Agreement of Purchase and Sale?
A) Form 801 (or equivalent) can be used as evidence that there is a written, signed APS from the Buyer to the Seller. By sign-ing Form 801, the Buyer is directing the
Co-operating Salesperson to submit the form prior to the Offer being presented as evidence that there is actually a writ-ten, signed APS. This should not create a privacy issue because the Buyer has con-sented for their Representative to submit Form 801 prior to the APS.
Q) What happens if the Buyer’s Repre-sentative refuses to use Form 801?
A) An email could be sent to the Listing Salesperson as proof there is a signed Of-fer.
Q) What happens if the Buyer wishes not to present an offer?
A) Any Buyer has the right to not present their offer even if Form 801 (or equivalent) has been received by the Listing Salesper-son prior to the Offer presentation.
Where the existence of an Offer has al-ready been conveyed and when it is not presented, the situation should be docu-mented in the comment section of the Of-fer Summary Document (or equivalent) by the Listing Salesperson, for example, "Offer not presented as it was withdrawn before receipt due to Buyer not wanting to be in competition with other Buyers."
In this case, the exact number of docu-ments, either the Agreements of Purchase and Sale or Form 801 (or equivalent), must represent the total number of Agree-ments of Purchase and Sale that were re-ceived on behalf of the Seller.
Best Practices
Sept. 18 Legal Concerns for Residential Rental Properties Sept. 19 B.Y.O.D. Collaborate Sept. 19 Basics of Selling a Small Business Sept. 21 Best Practices – Everyday Use of Forms Sept. 21 Conservation Land Securement for REALTORS® Sept. 22 Listing Presentation Sept. 28 Language Skills (Scripts/Objection Handling) Oct. 2 Buying a Resale Condominium: Legal Issues for Salespeople Oct. 3 REALTORS® Guide to the Senior Market Oct. 4 Residential Investment Properties Oct. 5 Facebook Basics for REALTORS® Oct. 10 Commercial Real Estate 101 for Residential Practitioners Oct. 11 Documentation for Buying and Selling Commercial Properties Oct. 11 Investment Analysis and Commercial Networking Oct. 12 Negotiating Strategies for Commercial Leasing Oct. 18 Commercial Basic Finance Oct. 19 The Agreement of Purchase and Sale – Tips and Traps
Add/Edit in Stratus September 22 October 20
Creating a CMA in Stratus October 12 (York) October 16 (Miss.) October 20
Searching in Stratus – Residential October 4 (Miss.) October 5 (York) October 12 October 17 October 20 (York)
Working with Public Records October 3 October 6
Working with Public Records (cont'd) October 13 October 19 October 19 (York)
Working with WEBForms® September 28 (York) October 13 October 17 October 18 (Miss.)
Participate in a seminar or workshop to learn directly from the subject matter expert and through class discussions. Network with your fellow REALTORS® to learn from each other. These seminars/workshops range between two and six hours.
Participate in technology training for step-by-step instructions that will help you serve your clients better. Hands-on training is provided in a computer lab and is led by one of our staff Technology Learning Specialists. These labs range between three and four hours.
September 28 & 29 Certified Negotiation Expert (CNE) DesignationTopics covered:
October 3 & 4 Accredited Buyer’s Representative (ABR®) Designation Becoming skilled at Buyer Representation will help you change the way you do business and cater to Clients at every stage in the home buying process. As an Accredited Buyer’s Representative (ABR®), you will gain a unique understanding of home buyers’ needs and how best to serve them, specialized information to stay on top of home buying issues and trends, and exclusive resources to share with your clients and give you even more of a competitive edge.October 19 & 20 REIC 2280 – Legal Issues in Real Estate A Fellowship of the Real Estate Institute (FRI) Designation CourseThis course will assist you in not only recognizing potential pitfalls but also how to avoid and navigate through them to reduce your exposure to risks and liability.
Although TREB endeavours to ensure the accuracy and timeliness of information, it is not guaranteed.
Hands-On Technology Training
Sept. 20 Intro to MPAC Public Records Residential Oct. 4 Creating a Comparative Market Analysis (CMA) in Stratus Oct. 11 Evernote – The Key to a Paperless Workflow Oct. 18 Collaborate
Webinar Wednesdays
Click e-Commerce to register for courses and to access further details, including course descriptions and instructor biographies.
Upcoming Professional Designations/Certifications
• Competitive Win-Lose Hard Bargaining vs. Collaborative Win-Win Negotiating • Psychology of Buying • Persuasion Principles
• CNE® Model and Planning Guide • Case Studies• Skill Practice • Group Discussion Topics
Upcoming Seminars and Workshops
The Educated Professional
Get Social With TREBIf you have content suggestions for Across The Board or comments about this publication, feel free to email us at [email protected]
Suggestions & Feedback
8
Privacy Reminder to Members
What’s In Your REALTOR® Toolkit?Notice Pages
September 14–17: TREB Sponsors Small World Music Festival
Set & save your preferences, then see the report with Update Now:
Set time frame
Looking for something to do on the weekend of September 14–17? Look no further than the Small
World Music Festival, of which TREB is a proud sponsor!
The Small World mission is to celebrate
cultural diversity through music, to show-case the wealth of Toronto’s multi-cul-tural talent, and to educate and promote understanding between cultures.
“TREB strongly believes in the promotion of cultural diversity, and we are thrilled to help this event, now in its 16th year, thrive through our sponsorship,” said President Tim Syrianos of the festival.
If you attend, share your experience on social media, tagging #TREBEvents as well as the festival tag, #SWMF17.
For more information on the festival, in-cluding an event list and how to purchase tickets, click here.
Members should continue to handle consumer per-sonal information with
great care, adhere to all privacy laws, and always be mindful of protecting consumer privacy rights.
Want to see everything that sold in the last two weeks but not be lim-
ited by 200 results?
There’s a report for that! It’s called Notice Pages (named after the physical pages that used to get printed back in the days when all real estate updates were on paper!).
All you do is set your preferences, and then you can run the report anytime you like.
