Brampton Real Estate Board

Legal Corner
Falsifying documents result in disciplinary action

A recent disciplinary decision provides a good example of how falsifying trade-related documents leads to serious consequences. Read about this real-life example in the latest issue of Legal Corner.

Read Legal Corner on RECO’s website for more real-life examples of misconduct resulting in disciplinary action.

Keep informed about updates on TRESA

Recently the government announced it delayed the in-force date of the Phase 2 legislative changes to assess a regulatory proposal to further enhance consumer protection and offer more consumer choice. At this time, RECO does not have a new effective date, however, will notify registrants when a new date is announced.

In the meantime, a dedicated TRESA page has been created on RECO’s website. The TRESA Explained page is your hub of information about the key changes, bulletins on a variety of TRESA-related topics and videos. Information will be posted on the page as it becomes available.

Join us for RECO’s 2023 virtual annual general meeting

You are invited to participate virtually in RECO’s 2023 annual general meeting (AGM) on May 25, 2023, at 10 a.m.

New and exciting this year will be:

An exclusive keynote address from Benjamin Tal, managing director and deputy chief economist with CIBC World Markets.

A panel about Phase 2 of TRESA, moderated by award-winning journalist Peter Mansbridge, former chief correspondent for CBC News & anchor of The National, and featuring RECO’s registrar, Joseph Richer and industry experts.

If you would like to participate and vote, you must register by no later than Monday, May 22 at 4:30 p.m. (EST). Registration is required to attend the event. Register now.

2023 Board of Directors election – The results are in!

Meet the successful nominees for the 2023 RECO Board of Directors elections. These individuals will be appointed as industry directors by ordinary resolution at RECO’s annual general meeting on Thursday, May 25, 2023.

Reminder to always verify identity to protect both you and your clients

Registrants play a crucial role in protecting the interests of their clients and the integrity of real estate transactions. Read more about how you can protect yourself and your clients from becoming victims of identity fraud.

Annual renewal of the professional liability program begins July 2023

The renewal of the professional liability program administered by RECO begins in July 2023. As a reminder, RECO will be accepting only online payments and no longer accepting cheques.

Annual report

We are pleased to share RECO’s 2022 annual report. Read about RECO’s achievements over the past year and what to look forward to in 2023.

Business plan

RECO’s 2023 business plan is now available.

Ask Joe

RECO’s weekly Toronto Star column, Ask Joe, answers questions from readers on a variety of topics, including deposit protection, navigating offers, and how real estate agents get paid. Please encourage your clients to send their questions to Joe at information@reco.on.ca.

Here are some of our recent columns:

• Given the current real estate market, what advice do you have for first-time homebuyers?
• What do I need to know about buying a cottage?
• Who is responsible if damage happens to a home between purchase and closing?
• Would you recommend buying a home with a rental unit?
• What are a seller’s obligations during a real estate transaction?

The Canada Mortgage and Housing Corporation (CMHC) has developed a new online tool that REALTORS® can use to determine if a property could be subject to the Prohibition on the Purchase of Residential Property by Non-Canadians Act. This tool represents a great improvement over the inadequate resources originally offered by CMHC.

The virtual guidance tool allows users to determine if a property is in a CMA (Census Metropolitan Area) or a CA (Census Agglomeration) by entering the exact address of the property into the tool, or manually clicking through the map. If a property is outside of a CMA or CA, it is excluded from the ban.

The tool can be found on the following CMHC website: Prohibition on the Purchase of Residential Property by Non-Canadians Act.

It can also be directly accessed through the following link: Census Metropolitan Area and Census Agglomeration Guidance Tool.

CREA has been asking for the development of this tool and we are glad to see it is ready. Please let CREA know if you encounter any issues with the tool so that they can pass that along to their partners at CMHC.

Demand continues to outpace supply as Canadian home sales jump in April

Ottawa, ON, May 15, 2023 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales jumped by double digits on a month-over-month basis in April 2023.

Highlights:

• National home sales surged 11.3% month-over-month in April.
• Actual (not seasonally adjusted) monthly activity came in 19.5% below April 2022.
• The number of newly listed properties edged up 1.6% month-over-month but remain at a 20-year low.
• The MLS® Home Price Index (HPI) climbed 1.6% month-over-month but was down 12.3% year-over-year.
• The actual (not seasonally adjusted) national average sale price posted a 3.9% year-over-year decline in April.

Home sales recorded over Canadian MLS® Systems posted an 11.3% increase from March to April 2023, foreshadowed by smaller back-to-back gains recorded in February and March.

Access the April 2023 stats PDF.

The Canadian Real Estate Association’s (CREA) office will be closed Friday, May 19 and Monday, May 22 for the Victoria Day long weekend. The office will reopen on Tuesday, May 23.

On Friday, May 19, our Member Experience Centre will be available from 8 a.m. to 8 p.m. CREA WEBForms® support will be available until midnight (EDT).

On Monday, May 22 (Victoria Day), CREA WEBForms® support will be available from 8 a.m. to midnight (EDT).

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

Have a safe and happy long weekend.

Collaborate with clients and remain at the centre of their home search better than ever. Try OneHome and the new responsive search that works across multiple devices, launched yesterday in Matrix.

OneHome

OneHome, the new client portal to collaborate with your clients, is here. Available to your clients by invitation only, OneHome:

• Provides essential property data, neighbourhood insights, location scores, school boundaries, and more.
• Shares your client’s search behaviour so you can better understand their priorities.
• Helps rank listings by suitability to provide clients with a better search experience.
• Offers unique tools for clients to add notes to properties they are interested in.

To create an optimal experience for your clients:

1. Go to Matrix, select Settings, then My Information to access OneHome.
2. Enter your OneHome profile information, upload pictures and videos, and add your social media accounts.
3. Click save.

Your clients can access OneHome through the “View Listings” link in the emails you send through Matrix. Then, your clients can sign up for a OneHome account accessed with a username and password.

Read this OneHome guide or discover more tips.

Visit the Learning Lab

For videos, FAQs, and more training materials to help you navigate Matrix and OneHome, visit the Matrix Learning Lab.

Sign Up for Webinars

Register for OneHome™ training on:

• Wednesday, May 10 at 12:00 p.m.
• Friday, May 12 at 10:00 a.m.
• Monday, May 15 at 12:00 p.m.
• Wednesday, May 24 at 10:00 a.m.
• Friday, May 26 at 12:00 p.m.

Or, visit the Matrix Hub to read news, watch videos, and more.

Market Intelligence for Today’s REALTORS®

Tuesday, May 30, 2023 | 9:30 – 11 a.m.

Join us for an exclusive and complimentary virtual event curated for Ontario REALTORS® where you’ll hear from industry leaders and gain valuable knowledge on topics critical to your business.

• Learn the latest information and key messages surrounding Ontario’s Property Assessment and Taxation System from MPAC’s President and CEO, Nicole McNeill and Director of Real Estate, Chris Fusco, who will also share highlights from our recent building permit statistics and latest propertyline™ enhancements.
• Gain new insights on Ontario’s current Market Intelligence from the Toronto Regional Real Estate Board’s Chief Market Analyst, Jason Mercer and the Canadian Real Estate Association’s Senior Economist, Shaun Cathcart.

UPCOMING TRAINING WEBINARS

Interested in other training webinars for REALTORS®?

Register below to view more information, upcoming dates and registration details on the following webinars MPAC is currently offering:

• Enhanced Assessment Data, REALTORS^® Insights, and Bundle Savings
• Factors Affecting Residential Property Value
• Automated Valuation Models (AVM) for REALTORS^® 
• Assessment 101 for REALTORS^® 
• Assessment 101 for Commercial REALTORS^®

More features to help your business are coming to Matrix. Get the same information you know and trust to guide your clients buying and selling decisions with a new responsive search that works across multiple devices.

Watch this quick video to learn more about the new search in Matrix launching on Tuesday, May 9.

The auto emails your clients already receive featuring new listings will also mention OneHome is coming soon.

OneHome

Launching on Tuesday, May 9, OneHome is the new client portal to collaborate with your clients and remain at the centre of their home search.

Available to your clients by invitation only, OneHome:

• Provides essential property data, neighbourhood insights, location scores, school boundaries, and more.
• Shares your client’s search behaviour so you can better understand their priorities.
• Helps rank listings by suitability to provide clients with a better search experience.
• Offers unique tools for clients to add notes to properties they are interested in.

The auto emails your clients already receive featuring new listings will also mention OneHome.

Your clients can access OneHome through the “View Listings” link in the emails you send through Matrix. Then, your clients can sign up for a OneHome account accessed with a username and password.

Look out for an email from Matrix about the OneHome launch.

Read this OneHome guide or discover more tips.

Prospects Mobile

Get ready for this new mobile app fully integrated with Matrix and OneHome to launch on Monday, May 15. You can:

• Search listings or access saved searches on-the-go.
• Manage your contacts.
• Communicate with clients, and more.

If you need support, visit the Prospects Mobile Help Center.

Visit the Learning Lab

For videos, FAQs, and more training materials to help you navigate Matrix and OneHome, visit the Matrix Learning Lab, which you can now access through the Matrix dashboard.

Sign Up for Training

Register to learn more about the new features in Matrix with sessions.

• OneHome™ Training
  • Friday, May 5 at 12:00 p.m.
  • Wednesday, May 10 at 12:00 p.m.
  • Friday, May 12 at 10:00 a.m.
  • Prospects Mobile Training
  • Friday, May 5 at 1:00 p.m.
  • Wednesday, May 10 at 1:00 p.m.
• Friday, May 12 at 11:00 a.m.

The new and improved Add/Edit is live. It is replacing the old Add/Edit as of Tuesday, May 2.

Starting first thing tomorrow, you will only have access to the new Add/Edit. The sunset of the old Add/Edit does not impact your access to Stratus. 

As part of the transition to the new Add/Edit, you will not be able to add or edit a listing on Monday, May 1 between 10:00 p.m. and 11:00 p.m. This is temporary and after this time, the new Add/Edit will be fully accessible.

Remember to publish any drafts in the old Add/Edit by today at 5:00 p.m. Unpublished listings will not move to the new Add/Edit. You will have to rekey them in the new Add/Edit.

The draft upload function in WEBForms® will also no longer work in the new Add/Edit and a new solution will be available in the coming months.

All new listings must include the Property Identification Number (PIN). The PIN can easily be accessed via GeoWarehouse® and for most properties should auto-populate when a listing is entered using the new Add/Edit. 

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Permissions Manager

Access to Add/Edit is provided by Brokers of Record or Managers through the permissions manager. On Friday, May 5, the permissions manager in Stratus will be replaced with the new version in Add/Edit. 

Watch this short video to learn how to use the permissions manager in the new Add/Edit.

To access the permissions manager:

• In Add/Edit: Click Admin and select the Offices or the Members button. 
• In Stratus: Click the permissions manager link and it will automatically direct you to the permissions manager in the new Add/Edit.

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Get Started with the New Add/Edit

Watch this on-demand training video to learn how to use the new Add/Edit.

Visit Add/Edit Central for news and training opportunities.

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What’s New in Add/Edit?

This modern and improved Add/Edit allows you to:

1. Easily add and edit listings with a new auto-fill feature from the land registry.
2. Upload a variety of documents and sizes.
3. Instantly watermark listing photos with your brokerage name.

Listings that are created in the new Add/Edit will have watermarks of the listing brokerage name on the photographs. The watermarks comply with MLS® Rule R-385.

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The new Add/Edit is replacing the old version on Tuesday, May 2. After this date, you will only have access to the new Add/Edit. The sunset of the old Add/Edit does not impact your access to Stratus. 

For a seamless transition, remember these five important things:

1. Publish any drafts in the old Add/Edit by Monday, May 1 at 5:00 p.m.
2. Unpublished listings will not move to the new Add/Edit. You will have to rekey them in the new Add/Edit.
3. The draft upload function in WEBForms® will also no longer work in the new Add/Edit.
4. As of Tuesday, May 2, you must use the new Add/Edit to enter and manage your listings.
5. All new listings must include the Property Identification Number (PIN). The PIN can easily be accessed via GeoWarehouse®, and for most properties, it should auto-populate when a listing is entered using the new Add/Edit. 

Permissions Manager

Access to Add/Edit is provided by Brokers of Record or Managers through the permissions manager. On Friday, May 5 the permissions manager in Stratus will be replaced with the new version in Add/Edit. 

Watch this short video to learn how to use the permissions manager in the new Add/Edit.

To access the permissions manager,

• In Add/Edit: Click Admin and select the Offices or the Members button. 
• In Stratus: Click the permissions manager link and it will automatically direct you to the permissions manager in the new Add/Edit.

Get Started with the New Add/Edit

Watch this on-demand training video to learn how to use the new Add/Edit.

Plus, visit Add/Edit Central for news and training opportunities.

Features and Benefits

This modern and improved Add/Edit allows you to:

1. Easily add and edit listings with a new auto-fill feature from the land registry.
2. Upload a variety of documents and sizes.
3. Instantly watermark listing photos with your brokerage name.

Listings that are created in the new Add/Edit will have watermarks of the listing brokerage name on the photographs. The watermarks comply with MLS® Rule R-385.

Getting Help

Contact Help Desk at 416-443-8111.

Learn More

At the Canadian Real Estate Association’s (CREA) Annual General Meeting on Tuesday, April 18, 2023, delegates voted in favour of adding a new “Duty of Cooperation” to the REALTOR® Code, which includes a requirement to comply with the REALTOR® Cooperation Policy.

The core element of the policy requires residential listings to be placed on an MLS® System within three days of “public marketing” unless an exemption applies. “Public marketing” is any marketing of a listing to the public or to anyone not directly affiliated with brokers and licensees of the brokerage.

This ensures the integrity and comprehensiveness of MLS® Systems is protected and provides REALTORS® with rich, accurate and extensive data.

“We’re grateful for the many discussions and high engagement throughout the country, that have led to this decision and that a resounding majority of voting delegates agree that cooperation is central to what we do as REALTORS®,” said Jill Oudil, CREA’s Immediate Past Chair, adding that CREA looks forward to continue working with boards and associations ahead of implementation in January 2024. “Protecting and enhancing the comprehensiveness of MLS® Systems not only benefits REALTORS®, it’s in the best interest of Canadian home buyers and sellers.”

This policy does not prevent exclusive listings, for those clients who do not want broad public exposure of their property to the public, for any reason, unless and until any “public marketing” of the property takes place.

The REALTOR® Cooperation Policy will come into force on Wednesday, January 3, 2024, to provide boards and associations time to review their current rules and ensure they’re compliant with the policy. Once the policy comes into force, boards and associations will enforce this new “Duty of Cooperation” and the related policy under their REALTOR® Code enforcement process.

Additional resources for your members, including template forms with disclosure and consent language, will be added to CREA.ca/REALTORCooperation ahead of the enforcement deadline.