Voting in our 2016 election begins January 15

Voting opens on Friday for our Board of Director and Area elections. At that time, we’ll send you a link to the voting website. Click here to review the candidate’s running in this year’s election.

Online voting will be open from January 15 until January 31.  

During the voting period, access to all of your election resources will also be available through the Paragon and www.rebgv.ca homepages. Just look for the 'REBGV Votes' button (pictured above) on these websites. 

Recommended candidates explained

You’ll notice this year that some candidates will have the ‘recommended’ label beside their name.

The Board Development Committee implemented a new process this year that asked director candidates to share more information about their readiness to serve. In November, the committee formed an independent panel of REALTORS® to interview each candidate and review their qualifications.

This new process seeks to identify candidates with the knowledge and expertise most needed on the current Board of Directors. It’s with this goal in mind that the Board Development Committee is recommending certain candidates for your voting consideration.

If you have any questions about this year’s election contact:

Tina Creed at tcreed@rebgv.org

What’s your property worth? Property assessment notices are here

Property owners received their 2016 assessment notices the first week of January 2016.

The 2016 Assessment Notice is BC Assessment’s (BCA’s) estimate of a property’s value as of July 1, 2015, and for new construction or substantially renovated homes, the physical condition as of October 31, 2015.

BCA is a publicly owned provincial Crown corporation responsible for determining and reporting property value estimates for the 1,996,112 properties in its database, an increase of 1.06% from 2015. BCA has produced the assessment roll since 1974.

Real estate sales determine a property’s value, which are reported annually to BCA. Local and provincial taxing authorities are responsible for property taxation and, after determining their own budget needs, calculate property tax rates based on the assessment roll for their jurisdiction.

Municipalities determine tax rates for each property class in the spring, once the assessment roll is finalized. Changes in assessment over the year don’t automatically translate into the same percentage changes in property taxes for any particular class of property or for any individual property.

BCA’s assessment and a REALTOR’S® assessment. Why the difference?

BCA’s assessment and the market value determined by a REALTOR® may be different. Why?

Both BCA assessors and Realtors calculate market value by analyzing sales of comparable homes within a local market. They also look at factors that affect value such as size of home, view, location such as on a busy or quiet street, number of bedrooms, construction quality, floor level, and garage or parking stalls.

Where every lot and every home on a street are typically the same, both BCA’s value and a Realtor’s value will be similar during stable market conditions. Differences occur in neighbourhoods where lots have been rezoned or are different shapes and sizes, where architecture and views are unique, and where owners have made changes that BCA hasn’t yet taken into account.

When you view your assessment

Property owners can look up their assessments on e-valueBC on BCA’s website.

Details include a photo, a property description (land and buildings), the total assessed value, the previous year’s value, the legal description, and a property ID.

If property details are incorrect, property owners are directed to complete and submit an e-valueBC Data Validation Form.

Property owners can also compare neighbouring properties and sample sold properties to decide whether their property has been correctly assessed.

Deadline to appeal your assessment is February 1, 2016

Property owners who disagree with their assessment should do their homework by:

• comparing their assessment with neighbouring properties; and
• contacting BCA at 1-866-valueBC (1-866-825-8322) and talking to staff who can make adjustments if there’s an obvious error, for example if BCA included a complete renovation, when it was merely a spruce-up.

Property owners who appeal their property assessment should review information on the Property Assessment Appeal Board website on how to prepare for an appeal. Then they can fill out the Notice of Complaint (Appeal) Form.

The deadline to file an appeal is February 1, 2016.

Each year less than 1 per cent of BC property owners appeal their assessments.

Note: You can’t appeal your taxes. You can only appeal your assessment.

For information about BC Assessment and to access e-valueBC visit www.bcassessment.ca or phone 1-866-valueBC (1-866-825-8322).

Sample Property Value Changes in our neighbourhoods

Vancouver's East Side saw the largest increase at 28 per cent for a detached home on a 33-foot lot. This was followed by Burnaby where a detached home in Buckingham rose 27 per cent, West Vancouver where a waterfront home rose 24 per cent, and in the Garibaldi Highlands where a detached home rose 23 per cent.

Additional examples may be found in this BCA news release.

Did you know?

• The total value of real estate on the 2016 BC assessment roll is $1.34 trillion, an increase of 11.1 per cent from 2015.
• In BC, 87.7 per cent of all properties are classified with some residential component, equating to $1.018 trillion.
• Changes in property assessment reflect movement in the local real estate market and can vary greatly from property to property.
• Real estate sales determine a property’s value, which is reported annually to BCA. 
• BCA’s assessment roll provides the foundation for local and provincial taxing authorities to raise $7 billion in property taxes each year which funds community services including the school system. 

Questions?  Contact BC Assessment.

Technotes: Replying to Touchbase messages; updated Touchbase and SentriLock apps

Replying to Touchbase messages – Here’s how:

You can reply to messages you receive via Touchbase text message, but you need to activate the functionality first:

1. Log in to www.touchbaserealestate.com using your member number and password.
2. Click on profiles on the left, under tools.
3. Click the parameters tab at the top.
4. Tick the box that says, “I wish to access the Touchbase SMS-Reply feature.”
5. Once activated, you’ll receive a three-digit code with each text message. Enter the code, add a space, and then write your message.

If the incoming message is a showing request, you can confirm or cancel it by typing the code followed by a space. Finally, select Y to confirm or N to cancel. If you type another space, you can add a message as well.

If you do not enter the three-digit code, the other agent won't receive your message.

Check out new apps: Touchbase SM2 and SentriSmart

Touchbase SM2

Use Touchbase SM2 on your mobile phone to access Touchbase on the go. You’ll be able to:

• Reply to and manage messages with the touch of a button
• Review messages sent and received within the past 30 days
• See upcoming showings on a map

The Touchbase SM2 app is available free of charge at the Apple App and Google Play stores. Learn more about the app here.

SentriSmart

SentriLock’s SentriSmart app has been updated and offers more features and functionality. You can use the app to:

• Reset your lockbox to its default settings
• Change your PIN
• Toggle between regular, contractor and CSB modes

The SentriSmart app is available for free at the Apple App and Google Play stores. Click here to review the full list of upgrades to the app.

If you have questions about Touchbase or SentriLock, contact the Help Desk at 604.730.3020.

The Ethics Guy®: That was easy

My colleague, Arnelle, has a Staples “easy” button on her desk. I love pressing that red button. I can’t resist pressing it and listening as it erupts with a loud exclamation, “That was easy!”

The noise it makes is suitable for many situations: as a nice reward for something that was easy to do; as a warning that a more difficult task is about to land in her in-tray; or simply as a way to annoy her. She’s too even tempered to take the bait.

What’s not so easy, but should be, is using Paragon’s handy auto-notification feature to match buyers and sellers. It’s been a while since I last wrote about the importance of putting useful, accurate information into our MLS® System (“Garbage In, Garbage Out,” February 10, 2015).

Here’s how auto-notification is supposed to work.

Accurate information about new listings is input into the MLS® System. Then members working with buyers input their search criteria into the system. This enables the auto-notification matching feature, which saves us a lot of time and trouble.

But what happens when inaccurate or incomplete information is entered and/or search criteria are too narrowly set?

Here’s a plea from a member whose frustration caused him to write to me:

I’m hoping you can help remind members of the value of making sure that their listing information is complete and accurate.

For some time, I have chosen, in most cases, not to use the auto-notification function to send my clients listing information. I have made that decision not because I don’t see the value and time-saving potential, but rather I have not used it due to my lack of confidence that all listings details will be complete and accurate. There have been too many occasions where clients have not received a listing that they should have and on other occasions are receiving listings that aren’t relevant to their search criteria.

With the recent implementation of Paragon and its enhanced search function, I thought I would try once again to use the automated search function for a new buying client who was referred to me by a past client. Unfortunately, the client has already received new listings that should not have been sent had the listing details been properly completed. A young couple with a small child receiving listings for buildings that have a 55+ age restriction doesn’t really create a very favourable impression even though “Must Not Have Age Restrictions” was set up in the search criteria. So, I thought it was time to send you a note…

Armed with this story, I went to our trusty Help Desk folks. As always, it was a good learning experience. It goes without saying that some of us are not great at accurately inputting information. This isn’t surprising. What I learned was that since not all humans think alike, and remembering that computers don’t think at all, we should be careful about what we ask for when setting up auto-notification.

Let’s say we have a buyer who wants a condominium in a building allowing rentals. We can set this up by choosing Rentals Allowed in the Bylaw Restrictions box reached through the Features field. Easy, right? Not so fast. You’re likely thinking the search result would include all listings for buildings allowing rentals.

Sadly, because computers aren’t as intuitive as we are, the result may not include the listings where the seller’s brokerage had only checked No Restrictions. To this member, No Restrictions means there are no restrictions at all, meaning, rentals are allowed. Our computer doesn’t see it that way because it is only looking for Rentals Allowed. Do you see the difference?

We can’t offer a perfect solution to this conundrum, but thinking about how our system works when setting up search criteria may help. And, it wouldn’t hurt to manage our buyers’ expectations by letting them know in advance that despite our best efforts, they may receive some listings that are unsuitable.

In memoriam: Brian Thompson

My world is a sad one today. Last week, a great friend and mentor of mine passed away. His name was Brian Thompson. I can’t think of him without remembering all of the things he did for me both professionally and personally during our 35 year friendship. He meant a lot to me. We named our son after him. He was my guy – the friend to whom I went when I didn’t know what to do; wanted help; needed advice or to just hear what he thought. And, while this is a personal outpouring of the respect and affection I had for him many others would say similar things about him.

He did a lot for us individually and collectively over the years. He was a fixture of the real estate business on the West Side of Vancouver for decades. He wore many hats including brokerage management; senior management, the presidency of Coldwell Banker Canada, and partnerships at Hallmark Properties and Dexter Associates.

Brian always did more than he was asked. He served on Council, he was a part of innumerable Board committees and task forces. He was respected, liked and his thoughts mattered. We paid attention to what he said and we basked in his approval when it was received. We are all better off because of Brian Thompson.

Perhaps his greatest professional legacy was the establishment of Career Development Managers; a new management position when he was General Manager of Block Bros. Realty. Thirty years ahead of its time, Brian saw the need for mentorships in the profession. At the time and perhaps, today, the manager was so busy with day-to-day administration and fire-dousing that there was little time left over for him/her to help develop and make successful, the Realtors in his/her office.

Career Development Managers were salaried assistant managers whose sole responsibility it was to nurture, develop, advise and help new (and existing Realtors) to get better at their chosen profession. We, (I was one) spent almost 100% of our time meeting, coaching and encouraging our charges to be the best that they could be. And you know what? The system worked and there are many still in the business today who benefited.

Now, of course, it is fashionable to talk about mentorship. In 1985 it was unheard of. Brian Thompson was not only a friend to us all but a real pioneer in our profession.

Get your REALTORS Care® Award nominations in today! 

The number of nominations for REALTORS Care® Awards are down from previous years. We know we work with some of the most generous people in Metro Vancouver, but we need your help identifying who they are.

There's only a few days left to nominate a deserving member - nominations are due this Friday, January 15!

If you know a colleague who makes an extra effort to raise funds, volunteer, organise charitable events, and do other good deeds in the community, nominate them for a REALTORS Care® Award! 

You can nominate them by completing this form. 

For more information, please contact Fiona Youatt at 604-730-3068 or fyouatt@rebgv.org. 

About the award 

For many REALTORS®, their profession is about more than selling real estate. It means being an active part of their community.

REALTORS® have raised millions of dollars and volunteered countless hours to many worthy causes.

That’s why, in 1999, the Real Estate Board of Greater Vancouver created the REALTORS Care® Awards, a community service recognition program that recognizes individuals and companies who give back to the neighbourhoods where they live and work.

Metro Vancouver home sales set an all-time record in 2015

In a year when the number of homes listed for sale was below historical averages, actual home sales in Metro Vancouver set a new record.

The Real Estate Board of Greater Vancouver (REBGV) reports that 2015 home sales were the highest annual total in REBGV history. This was powered early in the year by four straight months with more than 4,000 sales a month from March to June, another first for REBGV.

Sales of detached, attached and apartment properties in 2015 reached 42,326, a 27.8 per cent increase from the 33,116 sales recorded in 2014, and a 48.4 per cent increase over the 28,524 residential sales in 2013.

The total number of homes listed for sale on the MLS® in 2015 ranked fifth in the last ten years, while the MLS® Home Price Index (HPI) saw double-digit year-over-year price increases.

The number of residential properties listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in 2015 reached 57,249. This is an increase of 2.1 per cent compared to the 56,066 properties listed in 2014 and an increase of 4.6 per cent compared to the 54,742 properties listed in 2013.

With sales-to-active-listings ratios above 25 per cent for 11 months in 2015, the Metro Vancouver market experienced seller’s market conditions for much of the year.

"Home buyers were active and motivated throughout 2015 despite the pressure on supply of homes on the market," Darcy McLeod, REBGV president said. "Housing markets typically experience quieter periods within a calendar year, but that wasn't the case in Metro Vancouver last year."

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver ends the year at $760,900. This represents an 18.9 per cent increase compared to December 2014.

“We often hear economists say that seller’s market conditions put upward pressure on home prices,” McLeod said. “That was certainly the case in 2015, with price increases ranging from 14 to 24 per cent depending on property type.”

December summary

Residential property sales in Greater Vancouver totalled 2,827 in December 2015, an increase of 33.6 per cent from the 2,116 sales recorded in December 2014 and a 19.8 per cent decline compared to November 2015 when 3,524 home sales occurred.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 2,021 in December 2015. This represents a 7 per cent increase compared to the 1,888 units listed in December 2014 and a 40.4 per cent decline compared to November 2015 when 3,392 properties were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 6,024, a 41.6 per cent decline compared to December 2014 and a 25.6 per cent decrease compared to November 2015.

Sales of detached properties in December 2015 reached 1,136, an increase of 36.4 per cent from the 833 detached sales recorded in December 2014. The benchmark price for detached properties increased 24.3 per cent from December 2014 to $1,248,600.

Sales of apartment properties reached 1,225 in December 2015, an increase of 34.3 per cent compared to the 912 sales in December 2014.The benchmark price of an apartment property increased 14 per cent from December 2014 to $436,200.

Attached property sales in December 2015 totalled 466, an increase of 25.6 per cent compared to the 371 sales in December 2014. The benchmark price of an attached unit increased 13.6 per cent from December 2014 to $543,700.

To learn more about activity in your community,click here to view our Stats Centre Reports.

Obituary: R.J. 'Dick' Coates

Former REALTOR® and REBGV past president R.J. ‘Dick’ Coates passed away in early January. He was 70.

Dick was born in Lantzville on Vancouver Island. When he was 13, his family moved to Nanaimo. He was an active youth and along with his growing love for the outdoors, he was a Navy Cadet and loved to curl.

He originally wanted to be a doctor, and he earned a Bachelor’s degree in biochemistry from the University of British Columbia. He was halfway through his Master’s degree when he had a change of heart and decided to follow in the footsteps of his father as a Realtor.

He was first licensed in 1970 with A.E. Austin and Co. Ltd. During his career, he worked at firms such as Melton Real Estate Ltd. and Leaders Realty Group Trans-Action Realty. In 1986, he became a manager at Park Georgia Realty and would later become an owner of Sutton Elite (now known as Sutton Centre Realty).

Dick’s history of service with REBGV started in the late 1970s as a director of the Vancouver East Division. He became president of the division in 1987. He was a director-at-large in 1996-97, vice-president in 1998 and president in 1999.  

During his presidency, Dick led the REBGV through a contentious time when many members questioned the direction and motives of the Board. He was supportive of the launch of RealtyLink – both the website and the print versions – which became a huge success as a vehicle to help members advertise listings.

During his time with the Vancouver East Division, he helped start a charitable partnership between the division and Admiral Seymour Elementary School that still exists today. Another charitable initiative that Dick helped get off the ground is the REALTORS Care® Blanket Drive. He was one of a handful of members who made that first trip to the Downtown Eastside in 1994 and started what’s become the Lower Mainland’s largest and longest-running blanket drive.

Dick made many contributions to the Board and the profession, but management and arbitration were his true callings. Outside of real estate, Dick was an avid outdoorsman. He loved to be out in his boat fishing or out in the bush hunting. He also enjoyed golfing, curling, and the peace of a good book.

Dick is survived by his wife Lynette, daughters Jacqueline (Evan) Clark and Emily (Martin) Coates, step-children Ryan (Angela) Anderson and Darce, and grandchildren Elliot, Brennan, Colby, Katana and Kaylin. In lieu of flowers, the family requests that donations be made in Dick’s name to one of the following groups:

• The BC Cancer Society
• Crossroads Inlet Hospice
• PADS (Pacific Assistance Dog Society)

Obituary: Brian Thompson

Former REALTOR® Brian Thompson passed away last week. He was 75.

Originally from Manitoba, Brian worked for BC Tel until 1976 when he decided to become a Realtor. He was first licensed with Block Bros. Realty in Kelowna. Brian spent 11 successful years as a salesperson and manager with Block Bros., rising to general manager and head of Eastern Canadian Operations for the firm.

Brian was hired as president of Coldwell Banker Canada in 1987, where he spent three years before returning to Vancouver in 1991. Upon his return, he ran several local firms including Hallmark Realty and Sussex Realty Corporation.

In December 1992, Brian joined David Peerless at Dexter Associates Realty. Over the next 21 years, Brian and Dave grew the firm into a highly respected mid-size independent brokerage firm. Brian's ownership and partnership in Dexter was a true joy to himself and all those who interacted with him. He retired from the business in 2013.

Brian served as director and past chair of both the Real Estate Errors and Omissions Corporation and the Real Estate Council of British Columbia, contributing to many important changes within the industry. This included being part of the consulting team on Council that worked with the government to bring in the new Real Estate Services Act in 2004.

He was also involved in raising the minimum level of Errors and Omission Insurance for the protection of Realtors and their clients to $1 million. Elevating the level of education in our industry was a great passion for Brian and he was an active advocate for the implementation of mandatory re-licensing education for all Realtors.

Brian’s contributions to all of these initiatives – plus on countless other committees and task forces - positively impacted our industry. He also made our industry better by caring and mentoring so many of those close to him.

Brian was active in many sports including water skiing, snow skiing, hiking, motorcycle sports, and extreme sports in his youth, flying with Delta Wing Kites. He was a terrific father to his two sons, Jason and Ryan, a loving husband of 44 years with his wife Diane, and a doting grandfather to Geneva and Sadie Thompson. He was the greatest of friends to many and a true gentleman to all. He will be deeply missed.

A celebration of Brian's life will be held on Friday, January 15 at 2 p.m. at Pinnacles Hotel at the Pier, Lonsdale Quay North Vancouver.

In lieu of flowers, the family requests that donations be made to the Paul Sugar Palliative Support Foundation, North Vancouver.