Notice: Introducing New Chat Feature in Collab – April 9

Introducing New Chat Feature in Collab – April 9

During the evening of Tuesday April 9th, Collab will be enhanced with new Chat functionality.

 

Chat is a messaging interface that allows direct real time communication between Stratus users and their clients, as well as with other Stratus users or Collab teams.

 

In addition to allowing a user to send simple text, Chat includes provisions for sharing listings, saved searches, websites, and also files from the user’s computer and Collab Documents page.

 

Stratus users create conversations wherein they define the participants and post messages. Messages can be sent:

  • From the Message Stream panel on the Chat page
  • Via the “Start a Conversation” button on the Chat page
  • From any listing detail view
  • From any list of listings

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Chat functionality will be added to both the Collab web application and also the iOS and Android apps which are available for free download from the App Store and Google Play.  Download the app “Stratus Collab”.

 

Visual indicators announce new messages on the app version of Collab. The app icon badges let you know that new notifications are available for viewing.

We want to hear from you

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Upcoming RECO-EO conference call: “taking the pulse” of the industry
Good morning:

 

For the past two years, RECO has hosted conference calls with Executive Officers in advance of our Town Hall tour. During the 2018 Town Hall events, we heard strong support for making these calls a regular occurrence.

 

This is an opportunity for RECO to “take the pulse” of the industry and get a sense of the issues impacting real estate markets across the province. For industry leaders, it’s an opportunity to provide insight on those issues, and how RECO can support registrant compliance.

 

We hope you can find time to participate and share your thoughts on Thursday, April 25 at 1 p.m. Please RSVP to lisa.r@reco.on.ca. We’ll provide a more formal agenda closer to the meeting.

 

Thank you,

 

Joseph Richer

Registrar

Real Estate Council of Ontario

FINTRAC Compliance or Where is the money coming from

 

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Watch the video:   hhttps://youtu.be/Px7vs1SgwBQ

FINTRAC Compliance or Where is the money coming from
By Mark Weisleder

A recent study is focusing on how real estate buyers are using nameless corporations to
attempt to launder money when purchasing real estate. Real Estate agents, brokerages,
lawyers and lenders all have a role to play in making sure you are not caught up in this.
While giving FINTRAC seminars to brokerages, or conducting FINTRAC audits on a
brokerage FINTRAC policies, I have been able to identify 5 areas where brokerages can
improve to make sure they are not part of the problem

1. Verify the corporation and the person signing
The main issue identified in the study is real estate purchased by numbered companies who
may not have any real connection to Canada and are used as a vehicle to launder money.
Make sure you ask for the articles of incorporation or a recent tax assessment to make sure
the person signing for the company has authority and then personally identify the person
signing.

2. Are there other Directors, shareholders and address for the corporation
It is also important to ask if there are any other Directors in the corporation and if so, their
names and addresses must be listed. If anyone else owns 25% or more of the shares of the
corporation, these shareholders and their addresses must also be listed. Also look for the
registered office of the corporation as well, which should be on the articles of incorporation
or the tax assessment.

3. Ask the lawyer if you cannot verify the information yourself
The buyer lawyer will also have to verify that the person signing for the company has
authority. If you are not sure how to read the documents, consult with the buyer lawyer who
can review all the company documents contained in the minute book, to make sure you have
all the proper information

4. Where is the money coming from?
No one expects you to be a detective. Yet under the FINTRAC guidelines for completing the
receipt of funds form, it is requested that you obtain verification of the account number
where the deposit money is coming from. If you have a certified cheque it will identify the
account but it is more challenging if a bank draft is used, as the account information is not on
it. While FINTRAC asks that you obtain either a void or cancelled cheque from the account
that was used or a bank form showing the account information, the fact is that many clients
will refuse to give this to you due to fears about identity theft. In that case, ask the client

directly if the deposit came from their account and then write on the form something to the
effect of “Buyer confirms deposit came from their bank account.”

5. Is company officer connected to your community?
When the person signing for the company is connected to your community, there is less
likelihood for fraudulent activity. This is why it is so important to clearly complete the
occupation of the buyer on the FINTRAC forms as it shows how the buyer is connected to
your community. Different precautions will have to be used when you are dealing with
overseas buyers.

If you have any questions related to any of the issues raised in this newsletter, or you wish to
schedule FINTRAC training or an audit of your own FINTRAC policies, or you wish to
make use of our mobile closing services this year, please contact me toll free at 1-888-876-
5529 or at mark@realestatelawyers.ca
Mark Weisleder is a Partner, author and speaker at the law firm Real Estate Lawyers.ca LLP.
Contact him at mark@realestatelawyers.ca or toll free at 1-888-876-5529

 

 

HOURS OF OPERATION

WE ARE OPEN THROUGHOUT THE YEAR

TO CLOSE YOUR TRANSACTIONS.

MOBILE SIGNING SERVICE: OPEN 7 DAYS A WEEK  7AM – MIDNIGHT.

 

Queen Street-Highway 7 BRT (Bus Rapid Transit) corridor

 

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Queen Street-Highway 7 BRT (Bus Rapid Transit) corridor

 

Brampton Transit staff will be hosting a series of public meetings to discuss the 2019 Service Plan.  There will be 7 sessions of which 3 of them will feature materials on the planning for

Queen Street-Highway 7 BRT (Bus Rapid Transit) corridor.

Registration is not required and there is no cost to attend these sessions.  The meetings will be of the open-house, drop-in format with display boards and staff onsite to answer questions.

 

Week 1

  • Wednesday, March 29:  Gateway Terminal (3pm to 6pm) – inside the terminal building
  • Thursday, March 28:  City Hall Conservatory (5pm to 8pm)
    • Includes an update on Queen Street BRT
  • Saturday, March 30:  Cassie Campbell Community Centre (10am to 1pm)

 

Week 2

  • Monday, April 1:  Bramalea Transit Terminal (3pm to 6pm) – inside the terminal building
    • Includes an update on Queen Street BRT
  • Tuesday, April 2:  Cassie Campbell Community Centre (5pm to 8pm)
  • Wednesday, April 3:  Gore Meadows Community Centre (5pm to 8pm)
  • Thursday, April 4:  Century Gardens Recreation Centre (5pm to 8pm)
    • Includes an update on Queen Street BRT

 

If you require further information, please contact Hank Wang, Strategic Transit Planner, Transit/City of Brampton – hank.wang@brampton.ca

 

CORRECTION RE: Save the Date – Webinar on Friday March 22nd ahead of Spring MPP Meetings

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The week of April 22nd is a Constituency Week for Ontario MPPs. There is no better time to meet with them in your ridings!

 

Join us Friday, March 22nd for a webinar to help fully prepare you for these meetings.

 

With the government’s review of REBBA underway, there are a lot of important issues to communicate to our elected officials. We want to make sure your meetings are effective.

 

Even if you’re a seasoned pro with a great relationship with your MPP, please join us!

 

Webinar details and registration information will follow next week.

 

 

Last Chance REBBA Survey

Survey - Facebook V2

Tomorrow, (March 15th) the REBBA Review consultation closes.

 

That means that this is our Last Chance to push the Ministry survey to all REALTORS® and encourage them to take it.

 

We’ve had a tremendous response so far, but we need more members to take the survey. The Ministry has told OREA that thousands of Ontarians have responded.

 

This our members’ Last Chance to have their say on the future of REBBA.

 

Survey Link: https://www.ontario.ca/form/survey-modernizing-rules-ontario-real-estate-professionals

 

Here’s how you can help:

 

  1. Share attached graphic on your social media channels and include the survey link.
  2. Do a local all member email letting them know this is their last chance to have their say on the future of REBBA
  3. Forward the survey link to your client lists

 

OREA Final REBBA Submission

 

On Monday, March 18th OREA will be sharing our final submission in response to the Ministry consultation paper with all Boards.

 

The Taskforce has done some tremendous work and we can’t wait to share it with you.

 

Email me with any questions – mthornton@orea.com. Thanks everyone!