BRAMPTON Real Estate Board

Housing Inventory Hits All-Time Low

The final quarter of 2021 saw near record-breaking home sales with just 1.6 months of inventory left in December—an all-time low.

The national benchmark price is also up $240,000 from before the pandemic. Looking ahead, all signs are pointing to a headline-grabbing spring market.  

Share our snapshot graphics on social media using #CREAStats to highlight your market and encourage your clients to act. Save the graphics to your device now to get started: 
 

Full snapshot	Average price
Home sales	New listings
Summary

CREA Committee Applications are Open

Now’s your chance to help shape the direction of your national association by representing the diversity, ideas, and experiences of REALTORS^® across Canada.

Apply to join one of CREA’s many committees, before February 11, for the 2022-2023 governance year! 

Apply Now

New Certified Real Estate Broker Manager (CRB) Courses Starting Soon

Start 2022 off on the right foot with CREA’s new CRB designation courses.

Learn about starting a real estate company; recruiting and retaining team members; and best practices for leadership, training and mentoring talent.

Learn More

Apply for a Position on CREA’s Board of Directors for 2022-2023

CREA is seeking experienced and skilled REALTORS^® to put their names forward as candidates for the 2022-2023 Board of Directors.

Applications for Director-at-Large and Regional Director are being accepted until February 4, 2022. 

Learn More and Apply

Simplify Your Workflow with CREA WEBForms® Whether you’re just starting out and want to make transactions a bit smoother, or you’ve been using CREA WEBForms® for years, there’s a webinar that’ll help. Or, learn at your own pace with on demand videos and tutorials. Learn More

Start New Certified International Property Specialist (CIPS) Courses in 2022

CREA was acknowledged in 2021 by NAR, for outstanding CIPS designation courses.

Check out the latest courses in the series and set yourself apart in the international real estate landscape. 

Learn More

Nominate Someone for the Association Executive Network (AEN) Award of Excellence

The AEN Award of Excellence is presented to a AEN member who exemplifies professionalism, commitment, and leadership within the community of REALTOR^® associations.

You have until February 1, 2022, to complete the nomination process. 

Learn More

The Canadian Real Estate Association (CREA) will once again be surveying members from across the country to assess the importance and size of international real estate transactions. This survey will be administered by Framework Analytics, an independent research firm.

On Wednesday, January 12, 2022, an email will be sent to members to introduce Framework Analytics, to explain the objective of the survey and how to participate.

Please click here for the PDF file of the email message.

The information received from this survey will help CREA identify challenges and opportunities for REALTORS^® relating to inbound and outbound international transactions.

For any questions, please contact Sharon von Schoenberg, Manager, Global Strategy & Relations, at svonschoenberg@crea.ca or (613) 237-7111 ext. 2269

It’s a new year and that means there are updates and revisions to OREA’s Standard Forms & Clauses that you need to know about!

That’s why we’re bringing The Standard back for a very special episode that will focus on answering all of your questions about the 2022 updates and revisions (in real time, of course).

Register Now!

Now is the time to join your fellow Members to experience this new MLS® System. Hear what they think about REALM™ and how it offers auser-friendly app, advanced search functions, and readily available customization tools.

Watch Now

Your Guide to Using REALM™

There’s no better way to learn the features and functions. Attend free webinars, with new sessions every week that cover:

• Getting started with REALM™,
• Using the mobile app,
• Tips for Commercial Members, and
• A review of CMAs and how to find land registry information.

Save Your Spot

Mobile-First MLS® System

Discover the responsive mobile app that helps you access MLS® System and land registry data in the palm of your hands.

It’s easy to download. Search for REALMmlp in your app store (iOS or Android).

Discover the Handy FAQ

If you have questions, including if REALM™ will replace Collaborate and Stratus, or how to toggle back and forth between Collaborate and REALM™, we have the answers and more in our FAQ.

Or, if you’re looking for on-demand walk-throughs of REALM™, check out the built-in assistant right in the platform.

You can also email help@realmmlp.ca or call 1-888-417-4817 or 416-360-1972 for more support on REALM™. If you have feedback, tell us atrealmfeedback@trebnet.net.

Learn More

The Canadian Real Estate Association (CREA) is now accepting applications for our 2022-2023 committees.

We’re inviting any and all interested REALTOR^® members and board or association staff to submit an application online, letting us know how they would be a great fit for the committee(s) of their choice.

We understand the importance of bringing diverse backgrounds and experiences to our committees. We want the composition of our committees (and our Board of Directors) to reflect the wonderful diversity of our membership. That’s why we’re putting out a call to all REALTORS^® across Canada. 

On January 20, 2022, from 1 p.m. to 2 p.m. EST, CREA will host a virtual information session for individuals interested in learning more about becoming a CREA Committee member for the 2022-23 term. Please share this webinar information with any interested staff and your membership. 
 

Opportunities for REALTORS^®—as well as staff representatives from boards and associations across Canada—are available on the following CREA committees on an annual basis:
 

• Association Executives Committee
• Audit and Risk Management Committee 
• Broker Manager Committee
• Federal Affairs Committee
• Finance Committee
• Governance and Bylaws Committee
• Marketing and Communications Committee
• REALTORS Care^® Committee
• REALTOR^® Code Committee
• Technology Committee

Click any committee name above to view its terms of reference and learn more about its purpose, responsibilities and membership criteria.

Spread the word

We’d appreciate your help in spreading the word about this opportunity and personally encouraging leaders—both experienced and up-and-coming—on your staff and in your membership to apply to serve in volunteer roles at the national level. 

We’ve also attached several social media shareables to make sharing our message easy!

We welcome all to apply and are excited to expand our diverse and inclusive REALTOR^® association community. The application form is available until February 11, 2022.

On Wednesday, January 5th, 2022 at 12:01 a.m., Ontario will enter a modified Step Two of its Roadmap to Reopening and remain under the new rules until at least January 26th, 2022 (21 days) – subject to public health indicators. While the below public health measures are in place until at least January 26th, all publicly funded and private schools will move to remote learning starting January 5th until at least January 17th, subject to public health trends and operational considerations. OREA’s government relations team has reviewed the updated rules and provided a preliminary summary on what it means for REALTORS® and real estate. Given the rate of spread of the omicron variant, OREA strongly encourages all Members to restrict in-person business to the greatest extent possible and use virtual tools to communicate with clients and carry-out business. Please note, this analysis is based on government briefings and documents. We encourage all Members to review all public health rules and speak to local officials if they have any questions.   WHAT DOES THE MODIFIED STEP TWO MEAN FOR REAL ESTATE? Open Houses Open houses are not permitted. In-person real estate showings can happen by appointment only and must follow all public health rules and guidelines (see below). Impact on Real Estate Brokerages As essential services, real estate brokerages can continue to operate with certain limitations: Remote work – Each broker of record (i.e. under the COVID rules “person responsible for the business”) must ensure that any person who performs work for the business conducts their work remotely unless the nature of the work requires them to be on-site at the workplace/brokerageCapacity limits –  capacity inside a real estate business is limited to the lesser of 50% capacity or the number of people that can maintain physical distancing of 2 metres.Face covering/Masks – any person who enters a business, real estate showing, or other indoor area must wear a face mask/covering at all times.Screening – real estate brokerages must complete active screening of workers who enter their offices. OREA also strongly encourages active screening for all real estate showings.Cleaning/Disinfecting – equipment, washrooms and other common areas must be cleaned regularly and disinfected.Personal Protective Equipment (“PPE”) – PPE for eyes, nose and mouth for workers (i.e. receptionists) if they are required to come into come within 2 metres of a person who is not wearing a face covering or mask indoors and are not separated by a barrier. For a full list of new health measures please visit covid-19.ontario.ca/public-health-measures. In addition, Members can review OREA’s guidance for safe in-person showings for more help.   Other Information and Guidance Short-Term Rentals  Short-term rentals are open only if provided to individuals who are in need of housing (does not apply to hotels, motels, lodges, resorts, student residences and other shared rental accommodation, but does apply with respect to cabins and cottages). Indoor pools, communal steam rooms, saunas or indoor whirlpools, indoor fitness centres, or other indoor recreational facilities at short-term rentals must be closed. Instructions from Public Health Officers  Businesses and organizations must follow all advice, recommendations, and instructions of public health officials, including related to physical distancing, cleaning or disinfecting, screening and vaccination policies. Further details should be obtained from covid-19.ontario.ca/public-health-measures.   Looking Ahead OREA will continue to keep members informed of the Province’s Reopening Roadmap and any impacts on real estate. Members looking for more general information should go to the Ontario Government’s website.

On January 20, 2022, from 1 p.m. to 2 p.m. EST, the Canadian Real Estate Association (CREA) will host a virtual information session for individuals interested in learning more about becoming a CREA Committee member for the 2022-23 term.

This webinar session will be hosted by Mark Sutcliffe and feature a brief presentation from CREA CEO Michael Bourque and a panel of current CREA Committee members.

We’ll explore the role and commitment of being a committee member, the application process and how you can help shape the future of real estate.

There will also be an opportunity to ask questions during the webinar. Questions may be submitted in advance to crea-comms@crea.ca. 

Please share this webinar information with any interested staff and your membership.

Register Now

If you have any questions about the application process, contact our Member Experience Centre at support@crea.ca or 1-888-237-7945.

Last week, the Government of Ontario announced new public health restrictions in response to the highly transmissible Omicron variant.

OREA’s government relations and legal teams have assembled the information you need to know to help you comply with the new rules and stay safe.

New Omicron Restrictions and Ontario REALTORS®

Property Showings

To begin, the new provisions apply only to open houses, not to other activities of a real estate brokerage, including real estate showings. Inside a real estate showing, a brokerage/REALTOR® must continue to maintain capacity limits to ensure the two-metre separation requirement and wear masks even if the brokerage policy requires full vaccination in those settings.

Open Houses

Given the spread of the highly contagious omicron variant, OREA encourages all members to temporarily stop in-person open houses.

If you must do host an open house, the following new Provincial rules apply:

• Capacity limits for open houses (which are based upon ensuring there is at least 2 metres of physical separation available at all times) are lifted provided that a brokerage chose to require proof of vaccination.
• The decision to require proof of vaccination can be made daily and applies for the entire day.
• Once a decision is made for that day, you must post signs at all entrances to the property, in a conspicuous location visible to the public that proof of vaccination is required to enter.

Until January 4th, vaccine verification for real estate open houses can occur by both the “Enhanced Method” (the use the Verify Ontario App to scan digital vaccination certificate QR codes) or the “Original Method” (examination of a paper or downloaded vaccination document).

After January 4, 2022, the Province has indicated that all required vaccination verifications must be carried out using the Verify Ontario App. It is not clear at this time whether mandatory use of the Verify Ontario App will extend to include open houses. OREA will update Members on this issue as soon as the information becomes available.

It is important to understand that the relaxation in capacity limits for open houses does not change the obligation for individuals to maintain at least two-metres of physical separation if they are not masked. Masking and social distancing obligations remain.

Brokerages wishing to consult the full Ministry of Health Proof of Vaccination Guidance can download it by clicking here. While OREA will endeavor to share timely updates with Members, please note that the guidance is subject to change by the Ministry and REALTORS® are encouraged to check it regularly.

Brokerage Offices

To reduce opportunities for close contact, Ontario is introducing 50 per cent capacity limit in indoor public settings, including restaurants, retailers, personal care services, shopping malls, meeting spaces, casinos, and gyms.

While the 50 per cent capacity limits will not apply to office businesses i.e. real estate brokerages. Inside their place of business, a brokerage is required to limit capacity to ensure 2 metres of separation between individuals, even if the brokerage has a vaccination policy in place.

In addition, the requirement to post conspicuous signs at all entrances instructing individuals how to screen themselves for COVID-19 prior to entering the premises and the obligation to actively screen every person who works before they enter, remain in place.

Booster Rollout

As of today, Monday, December 20, 2021, anyone over the age of 18 is now eligible to schedule their booster dose appointment through Ontario’s booking portal, by calling the Provincial Vaccine Contact Centre (1-833-943-3900, between 8 a.m. and 8 p.m.), or by contacting participating pharmacies. You will be eligible to book an appointment for your booster dose if you are over the age of 18 and have received your second doze at least three months ago (84 days).

OREA continues to ask Ontario REALTORS® to do their part to stop the spread of COVID-19 and the highly transmissible Omicron variant.

Please use virtual tools first and to the great extent possible, wear PPE including face masks, limit the number of individuals inside a home/or business, sanitize & disinfect surfaces before and after showings or open houses, and wash your hands regularly.

Like you, I look forward to the day when COVID-19 is behind us, and we can return to seeing family, friends, and colleagues without restrictions.

Until then, please stay safe, happy holidays and Merry Christmas!

Yours very sincerely,

David Oikle
President, OREA

The Canadian Real Estate Association’s (CREA) office will close as of end-of-day on Thursday, December 23 and re-open on Tuesday, January 4, 2022 at 8 a.m. (EST).

CREA’s Member Experience Centre will not be available on the following dates: 

• December 25, 26, 27 and 28, 2021, and January 1, 2 and 3, 2022.

CREA’s Member Experience Centre will be available for members as well as all boards and associations on:

• Friday, December 24 from 8 a.m. to 4 p.m. (EST);
• Wednesday, December 29 from 8 a.m. to 8 p.m. (EST);
• Thursday, December 30 from 8 a.m. to 8 p.m. EST); and
• Friday, December 31 from 8 a.m. to 6 p.m. (EST).

The Member Experience Centre for CREA WEBForms^® will be extended on:

• Friday, December 24 until midnight (EST);
• Monday, December 27 from 8 a.m. until midnight (EST);
• Tuesday, December 28 from 8 a.m. to midnight (EST);
• Wednesday, December 29 until midnight (EST);
• Thursday, December 30 until midnight (EST);
• Friday, December 31 until midnight (EST);
• Sunday, January 2 from 8 a.m. until midnight (EST);
• Monday, January 3 from 8 a.m. until midnight (EST).

If you have any questions, please direct them to support@crea.ca.

Happy holidays and happy New Year!

Today, Deputy Prime Minister and Minister of Finance Chrystia Freeland tabled the first economic statement for the 44^th parliamentary session. This Fall Economic and Fiscal Update presents a host of spending measures intended to support Canada in its continued response against the COVID-19 pandemic and long-term recovery. The update focuses on two priorities: protecting our recovery by finishing the fight against COVID-19, and “the road to recovery,” with funding for post-pandemic recovery.

The government recognizes housing remains a concern for Canadians, especially those looking to buy their first home. The update renewed the government’s commitment to increasing housing supply, with $70 billion invested to the National Housing Strategy, which will support up to 125,000 affordable homes. While federal leadership and funding are essential, the government acknowledges delivering solutions will require working in concert with provinces/territories and municipalities with whom levers and jurisdictions fall. Furthermore, the government stated that addressing housing affordability remains a priority. More details will be revealed in Budget 2022. 

In Budget 2021, the government introduced the Underused Housing Tax. As of January 1, 2022, non-resident, non-Canadian owned residential real estate that is considered vacant will be taxed annually at 1%. In line with CREA’s lobbying efforts, we’re pleased to see this fall economic statement introduced the government’s plan to bring forth an exemption for certain vacation and recreational properties.

The federal government will also dedicate up to $50 million to support new calls for proposals under the National Trade Corridors Fund, which intends to assist Canadian ports with acquisition of cargo storage and other means required to address Canada’s supply chain congestion. More details on this proposal will follow in the coming weeks. 

On financial support programs, the update highlighted the government’s proposal to extend the Canada Recovery Caregiving Benefit, the Canada Recovery Sickness Benefit and the Canada Recovery Hiring Program until May 7, 2022. In addition, the government is extending the Highly Affected Sectors Credit Availability Program until March 31, 2022.

CREA will continue to monitor for details surrounding programs announced in today’s statement and for any new or existing policy on housing.
 

Read the full Fall Economic and Fiscal Update