REALTOR® NEWSREALTOR® NEWS
January 9, 2020
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Featured News

Meet the candidates for our 2020 Board of Directors election

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Online voting will be open from January 15 through February 2 in our 2020 Board of Directors election. During this period, you can find election resources on Paragon and the www.rebgv.ca home page. Just look for the REBGV Votes button (pictured above) on these websites.

There are 10 members running to fill five vacancies this year. They are:

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Doug Dang
Amex Broadway West Realty
Recommended

Harvey Gill
RE/MAX City Realty

Rahim Jivraj
RE/MAX Crest Realty

Daniel John
Sutton Group – Seafair Realty
Recommended

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Chris Lee
Royal Pacific Realty Corp.

Michael Mitsiadis
Royal Pacific Realty Corp.

Adam Pospischil
Pospischil Realty Group
Recommended

Danielle Roy
Five Sails Realty
Recommended

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Stephan Sun
Saba Realty Ltd.

Jason Wood
Pacific Evergreen Realty Ltd.

You can review the candidates in detail on our website here

Recommended candidates explained

The Board Development Committee (BDC) recommends candidates for the REBGV election. The BDC’s mandate is to guide a year-round process to ensure there are candidates with the necessary competence, character and commitment to choose from in each election.

  • Click here to review a list of commonly asked questions about the BDC and the candidate recommendation process.
  • Click here to watch a two-part video series with BDC members answering commonly asked questions about candidate recommendations.
  • Click here for an infographic that details the work of the BDC.

CREA extends read-only access to the old WEBForms through January

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The Canadian Real Estate Association (CREA) has extended members' access to the read-only version of the old WEBForms through the month of January. 

While this extension gives you more time to move your transaction kits (old contracts) over to the new WEBForms, you'll still need to use the new platform for any new transactions. 

We encourage you to invest the necessary time you need to learn the new WEBForms as soon as possible. We've created several resources to help you with this change. 

Eight steps to working with WEBForms

This video series takes you through the key elements of our WEBForms course:

WEBForms webinars

WEBForms manuals

  • Read our step-by-step training manual to learn how to use the new system.
  • Find forms by category and by the organization responsible in our directory of the forms
  • Learn how to update out-of-date forms in your templates by reading this guide.

WEBForms course

Other resources

Extended Help Desk hours

We’re extending our Help Desk hours in January to help you make this change. Our team will be available:

  • Weekdays: 9 a.m. to 6 p.m.
  • Weekends: 10 a.m. to 2 p.m.

You can contact our Help Desk at 604-730-3020 or support@rebgv.org.

CREA's Help Desk is available:

  • Weekdays: 5 a.m. to 9 p.m.
  • Weekends: 5 a.m. to 7 p.m.

You can contact CREA's Help Desk at 1-888-237-7945 or support@crea.ca

Reporting issues

Since the launch of the new WEBForms, members have identified a few bugs and other issues with the system.

While this is a CREA initiative, our focus is on getting you the information and resources you need to minimize the impact of this change. We’re documenting every bug and issue you send us and sharing that feedback with both CREA and Lone Wolf, the company that created the new WEBForms platform.

Please continue to report issues you encounter to both CREA (support@crea.ca) and our Help Desk (support@rebgv.org). You can also call our Help Desk with other WEBForms questions at 604-730-3020.

Education and PDP resources at your fingertips

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Real estate is a fast-moving profession. It’s important you continue to learn and develop throughout your career so you can successfully assist your clients and stay on the cutting edge.

With that in mind, we encourage you to review our revised Education and Technology Support section of www.rebgv.ca. You’ll find a wealth of resources to help you understand the revamped Professional Development Program (PDP), review your responsibilities and options, and find answers to frequently asked questions.

Here’s what else you’ll find:

My PDP status and course history

Track your education history and review your PDP compliance. Note that all existing PDP credits you completed in your current cycle have been converted to hours within the new PDP framework.

My registered courses and events

See what courses and or events you’ve registered for.

My course materials

Access online course materials once you’ve registered for your course. These materials will remain available for 30 days after the date you attended the class. Don’t forget to download and/or save any materials you want to keep!

PDP education requirements

Find an explanation of the PDP requirements you must satisfy to maintain your Board membership.

PDP policies and REBGV regulations

Learn more about PDP policies and REBGV regulations to help you understand what’s expected of you.

FAQs

Find answers to frequently asked questions about the education services and support we provide.

PDP self-directed hours application form

Use our new online form to report and submit self-directed learning opportunities or accredited learning that you’ve completed through other course providers. Self-directed learning carried out at REBGV does not need to be reported. We’ll track your PDP hours and update your education history for you.

Courses and events calendar

Our courses and events calendar shows upcoming courses, locations, registration information, and cost.

Course catalogue

Our course catalogue describes the various accredited and self-directed courses available to you. Refine your search by course topic and/or location using the left-hand sidebar on this page.

Instructor profiles

Read bios of all of our instructors.  

Other course providers

Review the list of available accredited course providers. Local educational institutions, including UBC's Sauder School of Business, provide a range of courses for real estate professionals.

Note: Not all courses from these providers are PDP accredited. If in doubt, contact us at education@rebgv.org or 604-730-3087. 

To report accredited or self-directed PDP hours you’ve completed at another course provider, please complete this form and attach proof of completion. 

Education news

Read articles about new, revised, and upcoming PDP courses and events.

Questions?

Call us at 604-730-3087 or email education@rebgv.org. We’re here to help.

The Ethics Guy®: "Someone's sitting in the shade today because someone else planted a tree a long time ago"

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Our Board and the multitude of services we provide—the MLS® system, standard form contracts, help desk, member services, government relations and advocacy, communications, REALTORS Care® and community outreach, and more—are the result of members’ suggestions and hard work since the Board was established in 1919.

Let’s thank all those members who, in years gone by and those today, have contributed so much to our Board and our profession. They planned for the future and, as a result, we’re where we are today.

These thanks, I hope, are a nice lead-in to some thoughts about the new year and all it will bring.

First, in your personal planning for 2020 business, the new year isn’t a bad time to audit your business practices with regulator and legal risk-management in mind. For example, when taking a new listing, have you thought about all the steps involved in getting that listing in front of buyers and other members? Of these steps, what needs to be double-checked, reviewed, or changed?

Ditto for putting deals together. Think about the bumps in the road you may have encountered last year. Could any have been avoided with a change or two in what you did? It wouldn’t hurt to think about how you could have achieved a better result when a transaction didn’t go as well as you’d hoped. And for the many times you did succeed, I hope you took time to enjoy your success and consider what you did to make it happen. Are you planning to incorporate lessons learned, both good and bad, into your business practices this year?

In 2020, I want to produce more Top Tip videos, focusing on what I’ve written about in this column, and I’ll be passing on the input from you to the regulators, whenever I get the opportunity.

I’ll also be continuing work with other staff members on the Rules of Cooperation, which were amended in November 2018 and January 2019 (the January 2019 changes to accommodate VOW websites.) With a view to making your “rules of engagement” as good as they can be, we keep a laundry list of the suggestions you give us throughout the year.

I wish you all a very successful 2020. Last year finished on a positive note with the market heating up, so let’s hope 2020 brings more smiles for everyone.

Top Tip: Clearing up confusion on counter-offers

The Professional Conduct Committee occasionally asks that I bring practice issues to members’ attention.

There’s been a discussion among some members and their managing brokers on counter-offers—specifically, what to do if a client isn’t accepting the counter-offer price (or any contract term, for that matter). The best practice procedure to follow is:

  1. Draw a line through the price or term that your client isn't accepting.
  2. Write in the new price (or term) your client wants.
  3. Have your client initial beside the new price (or terms) on the contract.

Property assessments down, speculation tax rate up, and BC government backs off strata rental bylaw ban

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Property assessments down

BC property owners received their 2020 assessment notices last week. Assessments for both strata and detached homes were down throughout the region, with a few exceptions. We’ve compiled a detailed table on Greater Vancouver municipalities and information on how to appeal an assessment.

Read more.

Speculation and vacancy tax increases; strata rental tax exemption extended

The BC speculation and vacancy tax (SVT) tax rate for foreign owners and satellite families rose to two per cent on December 31, 2019, up from 0.5 per cent. The 0.5 per cent rate remains the same for British Columbians and other Canadian citizens or permanent residents who are not members of a satellite family. Here are the details including exemptions.

Read more.

Government backs off strata rental bylaw ban

The BC government has backed off on making a decision about whether to repeal or amend legislation that would change rental bylaws for strata corporations.

Read more.

REBGV surprises five local charities with holiday donations

A group of REBGV representatives surprised five local housing-related charities last month with holiday treats and $10,000 donations on behalf of the REALTORS® of Greater Vancouver.  

The money came from investment income accrued over the years from our charitable fund at the Vancouver Foundation.  

About 25 years ago, the Board established this fund to grow over time and ultimately be used to support local charitable activities.   

“Our original investment with the Vancouver Foundation has earned over $50,000. What better time to distribute these funds than during the holiday season in our 100th year in business!” Ashley Smith, REBGV president said. “Because of the foresight of our leaders nearly three decades ago, we had this opportunity to give back to the people in our communities who need it the most.”   

Our REALTORS Care® Task Force, a group comprised of volunteer REALTORS®, helped determine the best approach for disbursing these funds.   

The Task Force recommended that the Board use the money to make $10,000 donations to the five local charities that we`ve supported the most, over the years, through our REALTORS Care® Shelter Drive. 

“The recipient charities do outstanding work,” Brad Scott, REBGV CEO said. "To visit and surprise these organizations with our donations was a humbling and heart-warming experience. I encourage all members to learn more about the good work that these five charities do.”  

Here are the recipient charities we visited:


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Covenant House, Vancouver

Covenant House provides shelter and services to the region’s homeless and at-risk youth. They help young people aged 16 to 24 who have fled physical, emotional and sexual abuse.

Learn more about Covenant House

L to R: Brianne Newsome, Development Officer, Covenant House; Colette Gerber, REBGV President-Elect; Ashley Smith, REBGV President; Tracy Brown, Director of Development, Covenant House

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Cythera Transition House, Maple Ridge

Cythera provides transitional housing, counselling, education and access to community resources to women and children impacted by domestic violence.

Learn more about Cythera Transition House

L to R: Teresa Green, Executive Director, Cythera Transition House; Colette Gerber, REBGV President-Elect; Taylor Biggar, REBGV Vice-President.

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Lookout Society, North Vancouver

The Lookout Housing and Health Society provides services to adults who cope with a variety of mental and physical challenges. They operate shelters from 32 sites in 11 municipalities across the Lower Mainland. 

Learn more about the Lookout Society.

L to R: Colette Gerber, REBGV President-Elect; Paul Harmon, North Shore Housing Centre Manager, Lookout Society; Ashley Smith, REBGV President.

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Tri-City Transitions, Coquitlam

Tri-City Transitions offers shelter and support services for women and children fleeing family violence in the Tri-City communities. 

Learn more about Tri-City Transitions.

L to R: Carol Metz-Murray, Executive Director, Tri-City Transitions; Taylor Biggar, REBGV Vice-President; Colette Gerber, REBGV President-Elect.

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YWCA Munroe House, Vancouver

Munroe House is a second-stage transition house for women, and their children, who have experienced abuse. They offer support services and have 10 self-contained apartments where families can stay.

Learn more about YWCA Munroe House.

L to R: Colette Gerber, REBGV President-Elect; Kathy Lilyholm, Associate Director, YWCA Munroe House; Ashley Smith, REBGV President.

Other News

New discipline decisions available

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Stay on top of the work your Board does to uphold and enforce professional standards within the profession and resolve disputes between members.

Our Professional Conduct Committee (PCC) investigates alleged member breaches of the REALTOR® Code and our Rules of Cooperation. Click here to review the PCC’s latest rulings (C19-05 and C19-06).

Make the most of Autoprop Enterprise

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Autoprop is a powerful tool that helps you retrieve, export, and visualize real estate data from multiple sources and create reports for your clients. All members have access to Autoprop as part of your member fees. Click here for a short video that explains Autoprop in more detail.

Over half of all members have registered for a free Autoprop account since we delivered the service last year.

We recently upgraded all members to Autoprop’s highest service level, called Enterprise. Enterprise contains additional tools like Neighbourhood Expert, Presenter Pro (also known as iBOMB), and Commercial Pro. Learn more about the Enterprise service here.

Here are some more resources to help you get the most out of Autoprop Enterprise.

Neighbourhood Expert

iBOMB

Commercial Pro

Home sales decline below long-term averages in 2019 despite increased demand to end the year

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The Metro Vancouver housing market experienced below average sales activity and moderate price declines in 2019.

The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment homes reached 25,351 in 2019, a three per cent increase from the 24,619 sales recorded in 2018, and a 29.6 per cent decrease over the 35,993 residential sales in 2017.

Last year’s sales total was 20.3 per cent below the region’s 10-year sales average.

“We didn’t see typical seasonal patterns in 2019. Home buyer demand was quieter in the normally busy spring season and it picked up in the second half of the year,” Ashley Smith, REBGV president said. “In terms of home values, prices dipped between two and four per cent across the region last year depending on property type.”

Home listings on the Multiple Listing Service® (MLS®) in Metro Vancouver reached 51,918 in 2019. This is a 3.2 per cent decrease compared to the 53,614 homes listed in 2018 and a five per cent decrease compared to the 54,655 homes listed in 2017.

Last year’s listings total was 7.6 per cent below the 10-year average.

“Home buyer confidence was a factor throughout the year. In the first quarter, many prospective buyers were in a holding pattern, waiting to see how prices would react to the mortgage stress test, new taxes, and other policy changes,” Smith said. “Confidence started to return in the summer, and we saw above average sales in the final quarter of 2019.”

The MLS® HPI composite benchmark price for all residential properties in Metro Vancouver ends the year at $1,001,000. This is a 3.1 per cent decrease compared to December 2018.

The benchmark price of apartments decreased 2.7 per cent in the region last year. Townhomes decreased 2.4 per cent and detached homes decreased four per cent.

December summary

REBGV reports that residential home sales in the region totalled 2,016 in December 2019, an 88.1 per cent increase from the 1,072 sales recorded in December 2018, and a 19.3 per cent decrease from the 2,498 homes sold in November 2019.

Last month’s sales were 9.5 per cent above the 10-year December sales average.

There were 1,588 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in December 2019. This represents a 12.9 per cent increase compared to the 1,407 homes listed in December 2018 and a 46.8 per cent decrease compared to November 2019 when 2,987 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,603, a 16.3 per cent decrease compared to December 2018 (10,275) and a 20.1 per cent decrease compared to November 2019 (10,770).

For all property types, the sales-to-active listings ratio for December 2019 is 23.4 per cent. By property type, the ratio is 15.2 per cent for detached homes, 25.7 per cent for townhomes, and 32.5 per cent for apartments.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

Sales of detached homes in December 2019 reached 599, a 72.1 per cent increase from the 348 detached sales recorded in December 2018. The benchmark price for detached properties is $1,423,500. This represents a four per cent decrease from December 2018, and a 0.6 per cent increase compared to November 2019.

Sales of apartment homes reached 1,053 in December 2019, a 96.8 per cent increase compared to the 535 sales in December 2018. The benchmark price of an apartment property is $656,700. This represents a 2.7 per cent decrease from December 2018, and a 0.8 per cent increase compared to November 2019.

Attached home sales in December 2019 totalled 364, a 92.6 per cent increase compared to the 189 sales in December 2018. The benchmark price of an attached home is $778,400. This represents a 2.4 per cent decrease from December 2018, and a 0.7 per cent increase compared to November 2019.

Click here for the December 2019 stats package.

Paragon now checking for title searches

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Your MLS® system will now automatically check for listings that don’t have a copy of the title search attached within 24 hours. If you don’t attach a title search within this period, the system will notify you by email.

This is part of section 3.12 of the Rules of Cooperation, which states that “Unless otherwise instructed by the seller in writing, a copy of the basic title search must be posted by the Member to the MLS® System as an associated document within 24 hours of the listing becoming active on the MLS® System.”

If your seller has instructed you not to post the title search, call the MLS® department at 604-730-3010.

Medallion reminder: Report 2019 sales errors or omissions by January 15

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The Medallion deadline for 2019 sales has passed, but you have until January 15 to submit errors or omissions for any sales. The 2019 year will be closed after January 15.

Email sales@rebgv.org as soon as possible with the details.

Get your home show tickets today!

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Send your clients to the BC Home + Garden Show February 19-23! Our discounted tickets are $12 (value $16), and you pay only for the tickets your clients use.

For every ticket sold through us, $3 goes to our REALTORS Care® Shelter Drive

Order your tickets online or while supplies last!

Take our strategic planning survey

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The Real Estate Board of Greater Vancouver (REBGV) has embarked on a “strategic planning journey”. Given the VUCA world that we live in (volatile, uncertain, complex and ambiguous), we recognize that strategy development is a journey, not a one-time event.

Your Board of Directors and management team will conduct a planning session in the spring of 2020 to create a new strategic plan for REBGV. Ahead of this work, we want to know what you think are the most significant strategic challenges and opportunities before us today. Please take 10-15 minutes to complete this survey.

We`ll share the results from this process with you over the next six months. Your feedback is invaluable and we thank you in advance for taking the time to share your insights.

Council's new mandatory anti-money laundering course open for registration

The Real Estate Council of BC recently launched a new mandatory course called Anti-Money Laundering in Real Estate. You’ll need to complete this course every two years to maintain your license with Council.

If you register for this course before the end of January, you’ll get a discounted rate.

Learn more on Council’s website.

Nominate an exceptional REALTOR® today!

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2018 REALTORS Care® Award winner Jody Squires (L) and 2018 Professional Excellence Award winner Josh Bath (R)

We want to celebrate the accomplishments of our most exceptional members through our awards programs: The Professional Excellence Award and the REALTORS Care® Award.

We need your help to identify these REALTORS®.

Our Professional Excellence Award honours members who epitomize professionalism and who go the extra mile for their clients, colleagues, and community. If you know someone who fits the description for this career achievement honour, nominate them today using our easy-to-complete process.

Our REALTORS Care® award honours members and offices committed to helping others by raising funds, volunteering, or doing other good deeds in the community. If you know a Realtor or an office that meets this description, nominate them for a REALTORS Care® award today.

The nomination deadline for both awards is January 20, 2020.

Get your home show tickets today!

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Send your clients to the BC Home + Garden Show February 19-23! Our discounted tickets are $12 (value $16), and you pay only for the tickets your clients use.

For every ticket sold through us, $3 goes to our REALTORS Care® Shelter Drive

Order your tickets online or while supplies last!

Celebrating the holidays in style

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Celebrating the holidays in style

We had a magical time celebrating the holiday season at our Great Gatsby–themed Christmas party in December. Thanks to everyone who attended, and a special thanks to all our member volunteers who brought in sponsors and helped promote and stage the event! You can see the pictures on Facebook, and please visit our sponsors:

Primary sponsor

Drinks for Charity sponsor

Sponsors

Board President Ashley Smith discusses 2020 real estate trends on CTV


Courses and Events