Canadian Home Sales Make an Upturn in October


“Sales actually popped up from September to October, and the decline in prices on a month-to-month basis got smaller for the fourth month in a row,” says CREA’s Senior Economist, Shaun Cathcart. 


Average Home Price Down 8.5% in Ontario

In October 2022, Ontario home prices averaged $835,090, down 8.5% from $912,597 in October 2021.

To view monthly housing market stats for your region, go to CREA Stats and select your board.

MPAC Webinars for REALTORS® – December 2022

MPAC’s new propertyline™ e-store provides users with access to real-time property information through an enhanced and innovative platform. Directly integrated with GeoWarehouse, access to property details is now seamlessly streamlined between the two portals, making it easy to search and find the data you’re looking for.

If you haven’t had the opportunity to yet, be sure to register for one of our special propertyline™ training webinars below. Our team will walk you through a demo of the new e-store, highlighting the new key features such as our enhanced data, discounted report bundles and a new REALTOR® Insights dashboard with contented curated just for you.

Special training webinar – new propertyline™ e-store

Enhanced Data, REALTOR® Insights, and Bundle Savings –

A look at the new data in GeoWarehouse and our new propertyline™ e-store.

Join MPAC’s Real Estate Team for an in-depth walkthrough of the new data and propertyline™ e-store, where you will learn about:

  • Enhanced data points now included with GeoWarehouse, such as new phase in and assessment details as well as site area and year built
  • Our modernized interface, now integrated with a direct link in GeoWarehouse, to improve the purchasing experience
  • The increased functionality of our property search module, making it easier to find specific properties, save details and search through comparable properties
  • Updated reporting styles and formatting, with the addition of our free Assessment Details Report, available and included with every property
  • Report Bundling that allows members to choose from a variety of bulk reporting packages and offers significant savings on the retail price for our most popular reports
  • New REALTOR® Insights to keep you informed with the latest property market data, resources, personalized support and training materials.

MPAC will be hosting this webinar throughout the month of December. Below are the registration links for the first dates in the series, however the full schedule is available online to ensure we find a time that works best for you and your team.

Monday, December 5, 2022
10:00 to 10:30 a.m. EDT
Register now
Wednesday, December 14, 2022
1:00 to 1:30 p.m. EDT
Register now

DECEMBER 2022 SCHEDULE

Factors Affecting Residential Property Value
 
This webinar is a continuation of our MPAC Assessment 101 webinar series. We take a more detailed look at the top 5 factors affecting real property value when using mass appraisal techniques.
 
Participants will also learn about other property features that can significantly affect property value. These include elements of primary and secondary structures, site details and locational influences.
 
Join us for a more thorough look at MPAC’s valuation process.
Upcoming Factors Affecting Residential Property Value webinars
 
Tuesday, December 6, 2022
1 to 2 p.m. EDT
Register now
Automated Valuation Models (AVM) for REALTORS®
 
This webinar provides an overview of our real-time market value estimates, used for listing presentations, setting the listing price, supporting an offer, or simply as a second unbiased opinion of value.
Upcoming Automated Valuation Models (AVMs) for REALTORS® webinars
 
Wednesday, December 7, 2022
10 to 11 a.m. EDT
Register now
Assessment 101 for REALTORS®
 
MPAC Assessment 101 webinar has been customized for Ontario REALTORS®.
 
Training provides an overview of how MPAC collects data, measures properties, and instructions on calculating property taxes. We show REALTORS® how to access Assessment, Site, Structural, and Sales Data and provide an overview of our Automated Valuation Model (AVM) products customized for REALTORS®.
Upcoming Assessment 101 for REALTORS® webinars
 
Tuesday, December 13, 2022
1 to 2 p.m. EDT
Register now
Assessment 101 for Commercial REALTORS®
 
This webinar provides an overview of our methods for valuing commercial, multi-res and industrial properties. We will also take a detailed view at the data offered in sample reports. Participants will learn about assessment basics as well.
 
Join us for a more thorough look at MPAC’s Commercial and Industrial data products.
Upcoming Assessment 101 for Commercial REALTORS® webinars
 
Thursday, December 15, 2022
10 to 10:30 a.m. EDT
Register now

TRREB & BREB Members to Access SkySlope Digital Forms Library

Filling out real estate forms is about to get a lot easier. With the help of SkySlope, TRREB & BREB are digitally transforming the forms that you use in your day-to-day transactions so you can quickly find, fill, and e-sign them. 

In January 2023, TRREB & BREB will partner with SkySlope, one of the U.S. and Canada’s most trusted transaction management platforms. As part of TRREB/BREB’s expanding Member benefits, you will have free access to digitized real estate forms through SkySlope Forms. 

The new digital forms:

  • Dramatically reduce the time it takes for you to complete complicated real estate forms. 
  • Shorten the time required for data entry by pre-populating forms with data pulled from the MLS® System. 
  • Auto-populate matching data fields and come equipped with embedded e-signature. 

“As the largest real estate board in the world, TRREB has a long history as an early adopter of new technology, positioning it at the forefront of innovation,” said TRREB President Kevin Crigger. “Focused on continually advancing our service offering to our Members, we are excited to officially announce our partnership with SkySlope. Launching in January of 2023, SkySlope Forms will provide a best-in-class forms environment eliminating redundant data entry, incorporating pre-mapped digital signature features, offering two-way MLS® integrations and a number of workflow automations. This exciting partnership with SkySlope will instantly offer our Members greater efficiency in their everyday business, and we look forward to announcing a number of new products and services being developed in partnership over the months ahead which will revolutionize the trade of real estate.” 

Following the release of SkySlope Forms, we will roll out SkySlope Offers as an additional Member benefit. 

October 2022 CREA statistics – Canadian home sales edge up from September to October

Ottawa, ON, November 15, 2022 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales edged a little higher in October 2022.

Highlights:

  • National home sales were up 1.3% on a month-over-month basis in October.
  • Actual (not seasonally adjusted) monthly activity came in 36% below October 2021.
  • The number of newly listed properties edged up 2.2% month-over-month.
  • The MLS® Home Price Index (HPI) declined by 1.2% month-over-month and was down 0.8% year-over-year.
  • The actual (not seasonally adjusted) national average sale price posted a 9.9% year-over-year decline in October.

Home sales recorded over Canadian MLS® Systems edged up by 1.3% between September and October 2022. While not a large increase, it was significant in that it was the first monthly gain since February. 

Access the October 2022 stats PDF.

Ontario Aboriginal Housing Services – Request for Proposal – Real Estate Services Northern Ontario

Standard Forms Webinar: Critical Member Written Communications with Consumers

Join OREA’s Standard Forms Team for another informative Forms Webinar on November 30, 2022, at 1:00 p.m., entitled, Critical Member Written Communications with Consumers, led by Cassandra Agnew Walker, OREA’s Head of Standard Forms.

This Webinar will foster discussions to review and uncover:

  • Setting the stage for written communications, from an initial consumer meeting to follow-up after sale negotiations
  • The many OREA Forms that enable explicit consumer messaging, disclosures, acknowledgements and consents
  • Guidance how to foster healthy interactions between Members and consumers, and Members with other Members
  • Pointers to vital OREA Forms Member communication resources

November 30, 2022
1:00 PM EST

UPCOMING WEBINARS:

Mark your calendars for these upcoming Forms Webinars:

  • Wednesday, November 30, 2022, 1:00 p.m.
    Critical Member & Consumer Written Communications
  • Wednesday, December 7, 2022, 1:00 p.m.
    New Year New Forms 2023 Update for Brokers of Record, EOs & Leaders
  • Wednesday, December 14, 2022, 1:00 p.m.
    2023 OREA Forms & Clauses Update PART 1

*All access to Forms Webinars must be made through your Member login only. This OREA resource is for Member participation.

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.

REALM™ to fully replace Stratus in the fall of 2023

With the transition from Collaborate to REALM™ complete, the next step is to transfer all remaining functionality from Stratus into REALM™.

You asked, and we listened. Stratus Users will benefit from a measured transition over the next year; REALM™ will not fully replace Stratus until the fall of 2023. This will give you the time you need to comfortably and confidently transition to REALM™ with the help of the TRREB Professional Development team and dedicated REALM™ trainers.

Watch for regular updates on new functionality added to REALM, with enhancements scheduled on a monthly basis. These enhancements are supported by ample training opportunities.

If you haven’t tried REALM yet, now’s your chance. Get started with free training.

Start Learning

Try the New Add/Edit

Check out the new features and functions of Add/Edit with our in-person Professional Development classes. Then, test and try it out using the new training mode. This modern and intuitive version will replace the current Add/Edit soon.

Find Out More

TRREB to Enhance Its MLS® System with More Property Insights Using AI Powered Technology and Data

TRREB is bringing AI powered computer vision technology and data to our Members by partnering with Restb.ai. This leading image recognition technology analyzes property information to unlock real estate specific insights and improve property valuations.

Resttb.ai will automate the listing process by extracting data. It will also save time, provide protections for Members’ websites, and increase the searchability of TRREB MLS® System data and photo compliance protections.

Soon, TRREB will implement Restb.ai’s MLS Product Suite, giving Members four cutting-edge features and benefits:

  • AI: Automatically extract data and insights from listings.
  • Enhanced Compliance: Auto-detects misuses of listing photos and all corresponding violations based on the TRREB MLS® Rules. 
  • Photo Matching: Members and clients can search the active listing inventory by uploading photos and finding matching photos with the same features. 
  • Auto Populate Listings: Improve the listing process and save Members time by auto-populating listing form fields.

“We are impressed with what the Restb.ai technology has accomplished. We like everything about their MLS Product Suite and Members will appreciate all the features it will bring to the TRREB MLS® System. We see computer vision as the means to building the next level of property intelligence – giving us details and insights we’ve never had before,” said TRREB CEO John DiMichele.

“Restb.ai’s innovative integration of machine learning and image analysis will bring a wealth of information to Members. This AI tool analyzes millions of property images that are uploaded every day and will produce more accurate and robust listing data in less time,” said TRREB President Kevin Crigger.

RECO reduces registrant fees, effective March 1, 2023

We would like to inform you of some reductions to fees that will affect all registrants, effective March 1, 2023.

The reductions, as follows, will be funded by RECO’s reserves and will be in place for the foreseeable future.

  • For all new, renewal and reinstatement applications, the registration application fee drops from $390 to $306
  • For registrants who transfer from one brokerage to another, the transfer fee drops from $100 to $25
  • For all new and reinstatement applications, the application review fee drops from $200 to $50


Also, effective March 31, 2023, we will merge the renewal application fee for individuals with the $44 mandatory continuing education (MCE) fee to reduce the number of payments required from registrants. By combining these two fees into one, the biennial payment for registrants, subject to mandatory continuing education requirements, will be $350 ($306 + $44), down from $434 ($390 + $44).

To learn more, please visit reco.on.ca or email us at registration@reco.on.ca.

Thank you,
RECO

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