BRAMPTON Real Estate Board

The Canadian Real Estate Association (CREA) continues to support your success with leading industry tools and resources to help you provide the best service to your clients. 

Real Estate Markets Continue to Stabilize in September

As we head into the last few months of 2021, housing market activity across Canada continues to stabilize, though demand remains high. Download our September snapshot for the latest insights. 

Share our snapshot graphics on social media using #CREAStats to highlight your market and encourage your clients to act.

Join More Than 20,000 REALTORS^® Across Canada

More REALTOR^® members than ever are using the REALTOR.ca Listing Stats App to respond easily to leads, share automated reports with clients and keep track of historical listing stats. Download the app today

Episode 8 of Ask Me Anything with CREA’s Board of Directors

On Episode 8 of Ask Me Anything, we speak to Cliff Stevenson, Jill Oudil, and Larry Cerqua about everything from representation of commercial listings on REALTOR.ca, and how CREA is promoting the many values of a REALTOR^®, to ways REALTORS^® are giving back in their communities

Are You Ready for REALTORS Care^® Week 2021?

Mark your calendars, REALTORS Care^® Week 2021 will take place November 15-21, 2021. Members from real estate boards and associations across the country will be volunteering their time to support charitable initiatives in their respective communities throughout the week. Find out more about getting involved

Want to Make the Most of CREA WEBForms^®?

If you’re a regular user of CREA WEBForms^® and are looking for ways to make your transactions more efficient, check out the upcoming practical session that’ll dive deeper into some advanced features like Group Sharing, Checklists and Creating Templates

If you have any questions, you can reach our Member Experience Centre by email at support@crea.ca or by phone at 1-888-237-7945

https://hub.realtorlink.ca/learn/course/internal/view/webinar/1037/webformsr-tips-and-tricks-for-advanced-users?utm_source=sfmc&utm_term=&utm_content=198276&utm_id=86ee1263-5092-4624-b256-3db650f6dfda&sfmc_id=6841486&sfmc_activityid=3e0d9e84-add9-497c-8ac6-28f241aa84ab&utm_medium=email&utm_campaign=October%202021%20Product%20Newsletter%20EN

The Canadian Real Estate Association’s (CREA) office will be closed on Monday, October 11 for Thanksgiving and will reopen on Tuesday, October 12.

On Monday, October 11, members can call 1-888-237-7945 for CREA WEBForms^® related issues between 8 a.m. to midnight (EDT). 

Have a safe and happy long weekend.

COVID-19 vaccination certification system As part of the Ontario government’s continued efforts to manage the COVID-19 pandemic, effective September 22, 2021, Ontarians need to be fully vaccinated (two doses plus 14 days) and provide proof of vaccination along with photo identification to access certain public settings and facilities.   The government’s announcement did not specifically identify requirements that would affect real estate brokerages, showings or open houses. However, all public health measures should be followed for any services taking place in a public setting.   We recognize that individuals involved in real estate transactions will have different needs and expectations to stay safe. Real estate professionals and brokerages play an active leadership role in their communities to maintain the health and safety of everyone involved in real estate transactions. We recommend that sellers, buyers, and their real estate representatives work collaboratively to implement measures that satisfy their respective needs.   For more information about how this affects real estate professionals and brokerages, visit our COVID-19 Industry Notices page.

Reminder: Industry alert about steering based on commission

We are concerned that some real estate agents and brokerages in Ontario may be steering their buyer clients toward listings where the seller is offering buyer representatives higher commissions over those offering lower commissions and that this may be happening without the buyer’s informed instruction. Although we know the vast majority of agents are managing buyers in an honest and ethical manner, it appears some may be putting their interests ahead of their buyers’. In addition to being illegal, this conduct undermines consumer protection, consumer confidence and the reputation of the profession. For more information, including clarity for buyers and their representatives and the Code of Ethics, visit RECO Professional News. 

RECO moves to fully online registration applications for salespersons and brokers

We recently moved to online-only registration applications for individual salespersons and brokers.

Brokerage registration forms will continue to be available in a fillable PDF format until further notice. The new online forms for individual salespersons and brokers are available under the “Applications” tab on MyWeb. 

New federal holiday on September 30: National Day for Truth and Reconciliation

The federal government has proclaimed that September 30 will be a new federal statutory holiday known as the National Day for Truth and Reconciliation. This is meant to be a day of reflection and a reminder for Canadians of the tragedies experienced by Indigenous people as a result of the country’s devastating legacy of residential schools. We are all encouraged to reflect on the heartbreaking history of Canada’s residential school system and honour the survivors, their families and communities. Service alert: This holiday applies to all federally regulated public and private workplaces, including banks, which may affect closing dates set on September 30, 2021. Brokerages are urged to review all their pending transactions to see if the holiday may affect the closing of a transaction. As a provincially regulated workplace, RECO will remain open on September 30.

Reminder: Human Rights Fundamentals MCE elective – Understanding racism and racial discrimination

As the regulator of real estate professionals in one of the most diverse provinces in Canada, we support a market free of racism and discrimination.

Earlier this year, in collaboration with the Ontario Human Rights Commission, we developed RECO’s new MCE elective: Human Rights Fundamentals. We continue to encourage registrants to take the 75-minute course, which will provide learners with a foundational understanding of racial discrimination and human rights protections under Ontario’s Human Rights Code. Registrants are also encouraged to alert their broker of record/brokerage if they, or someone they represent, experiences racism or discrimination of any kind.

Ask Joe

Check out our “Ask Joe” column, a weekly question-and-answer column by RECO’s Registrar, Joe Richer, that appears in the Toronto Star. Here are some questions Joe has answered recently. 

• I’m interested in buying a property that’s being sold as an estate sale. What do I need to be aware of before putting in an offer?
• I’m a tenant in a house that’s being sold. Now that many COVID-related restrictions have been lifted, how can I ensure that showings are still being done as safely as possible?
• Now that Ontario is gradually relaxing its COVID-19 restrictions, does this mean we will go back to how we used to buy or sell a home?
• I’m contemplating selling my home by myself instead of working with a real estate professional. What do I need to consider before making this decision?
• I am thinking of buying a home and I keep hearing advice that I should look for a property that “meets my needs.” What does this really mean?
• My spouse and I are both seniors. We’re preparing to sell our home but have not sold a property in quite a few years. What advice do you have to help our sale go smoothly?
• My daughter is going to a post-secondary institution out of town this year. What advice do you have to help me decide whether to buy an investment property near campus for her to live in, or simply rent?

What are the benefits of working with a real estate professional when buying a home?

The Canadian Real Estate Association’s (CREA) office will be closed on Thursday, September 30 in observance of the National Day for Truth and Reconciliation, and will reopen on Friday, October 1.

As one of the 94 recommendations from the Truth and Reconciliation Commission, this new statutory holiday is expected to include educational efforts similar to Remembrance Day. We believe strongly in our Diversity, Equity, Inclusion and Anti-Racism (DEIA) commitments, and that it is important we recognize the opportunity for reflection and ongoing learning.

To learn more, we recommend reviewing the resources below:

• Assembly of First Nations Education Toolkit
• National Centre for Truth and Reconciliation – University of Manitoba
• University of Alberta – Indigenous Canada Online course

For additional information on the National Day for Truth and Reconciliation, please consult our article published in July’s News2Me.

CREA’s Member Experience Centre will not be available on Thursday, September 30. CREA WEBForms^® support will be available from 8 a.m. until midnight (EDT). 

If you have any questions, please direct them to support@crea.ca prior to Tuesday, September 28.

Canadian housing markets currently cruising between pre- and peak pandemic levels
Ottawa, ON, September 15, 2021 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were little changed between July and August 2021.

Highlights:

• National home sales edged back 0.5% on a month-over-month basis in August;
• Actual (not seasonally adjusted) activity was down 14% on a year-over-year basis;
• The number of newly listed properties ticked up 1.2% from July to August;
• The MLS^® Home Price Index (MLS^® HPI) rose 0.9% month-over-month and was up 21.3% year-over-year;
• The actual (not seasonally adjusted) national average sale price posted a 13.3% year-over-year gain in August.

Home sales recorded over Canadian MLS^® Systems edged back a slight 0.5% on a month-over month basis in August 2021, as transactions appear to be stabilizing at more sustainable but still historically active levels. 

Access the August 2021 stats PDF.


CREA Updates Resale Housing Market Forecast 
Ottawa, ON September 15, 2021 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service^® (MLS^®) Systems of Canadian real estate boards and associations. 

Over the past several years, record levels of international immigration (not including 2020), low interest rates, and an increasingly middle-aged Millennial cohort have come together to fuel very strong household formation and housing demand in Canada. Recall that prior to COVID-19, the number of available listings nationally was already at a 14-year low and the national number of months of inventory on the eve of the lockdowns had fallen to below 4 months (seller’s market territory).

Access the September 2021 forecast PDF.


For more information, please contact:
Pierre Leduc
Media Relations

pleduc@crea.ca
The Canadian Real Estate Association
200 Catherine Street, 6th Floor, Ottawa, ON K2P 2K9
Tel: +1 (613) 237-7111

The Canadian Real Estate Association’s (CREA) office will be closed on Monday, September 6 for Labour Day and will reopen on Tuesday, September 7. CREA’s Member Experience Centre will not be available on Monday, September 6. CREA WEBForms® support will be available from 8 a.m. until midnight (EDT).  If you have any questions, please direct them to support@crea.ca prior to Friday, September 3. Have a safe and happy long weekend.

It has been brought to our attention that some real estate agents and brokerages in Ontario may be steering their buyer clients toward listings where the seller is offering buyer representatives higher commissions over those offering lower commissions. We are concerned that this may be happening without the buyer’s informed instruction. 

The behaviour is a breach of the Code of Ethics under the Real Estate and Business Brokers Act, 2002 (REBBA), and must stop. In addition to being illegal, the conduct undermines consumer protection, consumer confidence and the reputation of the real estate profession as a whole.

If you have evidence that a RECO registrant is violating the Code of Ethics, we encourage you to file a complaint with RECO here.

The practice of steering can result in severe penalties, including fines as high as $50,000 for individuals and $100,000 for brokerages. In particularly serious cases, RECO could revoke registrations. The rules are clear that registrants have an obligation to inform buyers of properties that meet the buyer’s criteria without regard to the amount of remuneration.

Clarity for buyers and their representatives

To add clarity to the buying process and eliminate steering, registrants can do the following:

• Clearly describe in the representation agreement the general description and geographic location of real property being sought.
• Actively work to understand the buyer’s needs and properly capture the attributes of the property requirements throughout the search process.
• Include in the representation agreement clear terms about the remuneration, if any, to be paid by the buyer, and how the buyer’s financial obligations to their brokerage may change depending on the remuneration being offered by the seller, if any.
• Explain to the buyer the terms of payment and the impact of purchasing a property where the seller may be offering less than the amount agreed for the buyer to pay their brokerage.
• Explain to the buyer that all properties that meet their criteria will be presented. Confirm in writing the buyer’s instructions on how the brokerage is to present properties to the buyer and whether they are to identify those that will require payment by the buyer to their brokerage.

RECO expects all registrants to comply with all sections of REBBA, including the Code of Ethics, and to be mindful of the federal Competition Act, 1985. We are hopeful that all real estate professionals will support us in driving home the expectation of professionalism and zero tolerance for unethical behaviour in the real estate industry.

Please review the following applicable sections of the legislation:

Code of Ethics

Obligation to inform the buyer of properties

19. If a brokerage has entered into a representation agreement with a buyer, a broker or salesperson who acts on behalf of the buyer pursuant to the agreement shall inform the buyer of properties that meet the buyer’s criteria without having any regard to the amount of remuneration, if any, to which the brokerage might be entitled. O. Reg. 580/05, s. 19; O. Reg. 539/20, s. 4.

Unprofessional conduct, etc.

39. A registrant shall not, in the course of trading in real estate, engage in any act or omission that, having regard to all of the circumstances, would reasonably be regarded as disgraceful, dishonourable, unprofessional or unbecoming a registrant.

REBBA

Remuneration

36 (1) All remuneration payable to a brokerage in respect of a trade in real estate shall be an agreed amount or percentage of the sale price or rental price, as the case may be, or a combination of both. 2013, c. 13, Sched. 3, s. 2; 2020, c. 1, s. 24 (1).

Percentages

36 (2) If the renumeration payable in respect of a trade in real estate is expressed as a percentage of the sale price or rental price, the percentage does not have to be fixed but may be expressed as a series of percentages that decrease at specified amounts as the sale price or rental price increases. 2002, c. 30, Sched. C, s. 36 (2); 2020, c. 1, s. 24 (3).

Prohibition

36 (3) No registrant shall request or enter into an arrangement for the payment of any remuneration based on the difference between the price at which real estate is listed for sale or rental and the actual sale price or rental price, as the case may be, of the real estate, nor is a registrant entitled to retain any remuneration computed upon any such basis. 2020, c. 1, s. 24 (4).

Thank you,

Joseph Richer Registrar 

Important reminder: changes have been made to REALTOR.ca DDF^® data feeds.

For years, REALTOR.ca DDF^® has made it easier for REALTORS^® to showcase listings on their personal website through data feeds. 

In 2020, a whopping 650,000 leads were sent to listing agents through our growing network of high-profile REALTOR.ca DDF^® partner sites such as Bing, TD Bank, Scotiabank and Kijiji.

Due to the technical nature of setting up these data feeds, most REALTORS^® enlist a technology provider’s help to set up and maintain the data feeds on their website. More than 650 technology providers currently work with REALTORS^® across Canada and have access to data feeds, and supporting services, with no associated fees. 

To ensure we continue to offer the best—and only—national data feeds to our members, the Canadian Real Estate Association (CREA) introduced a tiered pricing model for technology providers to access feeds and supporting services. The pricing model is structured to allow technology providers of all sizes to continue to provide their services to REALTORS^® without interruption. This pricing model also better aligns with current market standards for data services and will allow CREA to provide REALTOR.ca DDF^® data feeds for the long term. 

On April 1, 2021, CREA introduced Phase 1 of its new fee structure for technology providers operating more than 51 data feeds. We are now moving into Phase 2 which will commence on October 1, 2021, focusing on technology providers operating 50 or fewer data feeds.

Please note: data feeds are still and will remain free to members. Charges will only be applied to technology providers, as per the new pricing model.

By introducing new charges to technology providers, we understand your members may be impacted through increased service prices or technology providers choosing not to provide service anymore. 

In the rare case of disruptions or rate increases, we have a complete list of technology providers who can ensure your members’ website can continue receiving listings from REALTOR.ca DDF^®.

CREA will continue to invest in REALTOR.ca DDF^® improvements such as providing geocodes for all data feeds.

We’re here to help. Please contact our Member Experience Centre at support@crea.ca with any questions.

The Canadian Real Estate Association (CREA) continues to support your success with leading industry tools and resources to help you provide the best service to your clients

Canadian Home Sales Continue to Normalize In July

While the average sale price for homes in Canada is up 15.2% from this time last year, the number of new listings is down 18.9% year-over-year and has a reached a decade low. Download our July market snapshot for the latest insights.

Upcoming Certified International Property Specialist (CIPS) Courses

Explore REALTOR.ca Insights

Read more here: http://view.comms.crea.ca/?qs=a024da0526f4e730f0feae0dd2dd3a933c6113eea6c609830855c05ec52bcc0f7bd0a24566176286c7c8701de2b0871ba1198f5b15047078a1cba13d6c18ab3ccfa097f49462bed8ad75f84dfa4a750a