REALTOR® NEWSREALTOR® NEWS
October 30, 2019
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Featured News

Use our newest resources to prepare for the move to the new WEBForms!

With only two months to go before the Canadian Real Estate Association (CREA) changes WEBForms permanently, we strongly recommend making use of our help resources to familiarize yourself with the new WEBForms as soon as possible.

CREA has made it clear that the deadline of December 31 will not be extended since their contractual relationship ends with its former supplier on that date.

We appreciate the feedback you’ve shared with us about CREA WEBForms, and we’ve used that feedback to develop new resources that’ll help you learn the new system. This is in addition to the guides, webinars, and the course we’ve developed previously. Learn about these resources below.

Newest resources

We’ve developed a training manual for CREA WEBForms. This manual covers every aspect and function of the new system and will help you get going right away.

We’ve also created a directory of the forms available on CREA WEBForms. This resource organizes the forms by category and by the organization responsible for the form to help you more efficiently find what you need in the new system.

This guide also walks you through the process of updating out-of-date forms in your templates.

WEBForms webinars 

We’ve developed four webinars to help you move to the new CREA WEBForms. They are:

Creating a transaction

Adding clauses to a form

Creating a template

Migrating your transaction kits

Take our WEBForms course

We’ve also developed a new, in-person course to help you learn the new WEBForms. All members can take the course one time at no additional cost.

The course shows you how to create transactions, build and manage a personal clause library, and access the most up-to-date forms and contracts.

Seats are available. Click here to register for a date and time that works for you.

Other resources

Our Transition Guide has everything you need to translate your workflow from the old WEBForms to the new system. We’ve received positive feedback on the guide from members – click here for your copy.

CREA’s resource page has more information, guides, and how-to videos to help you learn how to use the new system. Click here to access these resources.

Reporting issues

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

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.

Remember, the old version of WEBForms will not be available after the end of December. Please take the time to learn and get comfortable with CREA WEBForms as soon as possible.

REBGV elections FAQ

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As we prepare for our Board of Directors election at the beginning of 2020, we want to make sure you have all the information you need before you vote, including details about the Board Development Committee and the candidate recommendation process.

This article provides answers to some of the most common questions members have asked about our election process in recent years.

About the Board Development Committee

Who is the Board Development Committee?

The Board Development Committee (BDC) is comprised of members of the REBGV. The current BDC members are:

  • Randy Ryalls (Chair), Royal LePage Sterling Realty
  • Jack Bernard, Rennie Marketing Systems
  • Lynn Dequanne, RE/MAX Central
  • Roland Kym, Keller Williams VanCentral
  • Carsten Love, Coldwell Banker Love Realty
  • Tina Mak, Coldwell Banker Westburn
  • Michael Uy, Oakwyn Realty
  • Doug Williams, RE/MAX Crest Realty (Van)
  • Phil Moore, Re/Max Central and REBGV past-president

REBGV CEO Brad Scott and COO Eileen Day support the committee throughout the year.

Who recommends candidates?

The Board Development Committee recommends candidates for the REBGV election. Their 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.

Who selects the BDC?

The Board of Directors identifies and appoints members to the BDC. With the exception of the past-president’s position on the committee to assist the BDC in their understanding of governance at REBGV, the Board of Directors does not participate in selecting, meeting, interviewing or recommending potential election candidates. The past-president does not participate in the recommendation process.

How it works

How does the recommendation process work?

The Board Development Committee (BDC) meets with the Officers to assess what skills and experience the Board of Directors’ believes it needs in the coming year. This information helps the BDC in its year-round work to identify potential candidates to run in REBGV’s election.

The BDC calls out to all members for nominations, via REBGV communication vehicles, word-of-mouth, and members who step forward to express an interest in REBGV governance. Those who decide to run are asked to:

  1. Complete an enhanced nomination form;
  2. Submit a resume;
  3. Complete a skills profile;
  4. Attend an orientation;
  5. Meet with a BDC interview panel;
  6. Provide references; and
  7. Be accountable to a Code of Conduct during elections.

After reviewing each candidate’s qualifications, conducting interviews, and checking references, the BDC makes recommendations. The names of the recommended candidates are published on the election platform.

Are all candidates, including incumbents, subject to the same process?

Yes. All candidates are subject the same process regardless of whether they’re an incumbent director or not.

What criteria does the BDC use to recommend candidates?

The BDC bases its decisions on a variety of factors.

They’re seeking candidates with the skills, knowledge and experience that will strengthen and diversify the talent around the Board of Directors’ table. They also evaluate candidates based on their competencies, character, and commitment.

The BDC looks for competencies relating to business experience, strategic thinking, organizational skills, and the ability to work with other people. Examples of competence might include experience running a business and managing people, previous work experience in a legal, accounting, or technology field, or experience with regulatory bodies.

Character may be difficult to judge but is fundamentally important to a high-functioning and effective Board of Directors. The BDC evaluates a candidate’s core values for strengths such as courage, integrity, humility, patience and ability to collaborate.

For commitment, the BDC evaluates a candidate’s track record of following through with her or his responsibilities. In the interview stage, the BDC asks about personal and professional aspirations and assesses each candidate’s preparation and depth of knowledge on leadership, governance, and strategic issues facing REBGV.

How are candidate interviews conducted?

The BDC holds candidate interviews at the REBGV office. Each candidate is provided with the interview questions ahead of time, along with background reading materials like REBGV’s strategic plan.

While it’s a formal interview, the candidates’ responses will guide the flow of the conversation. For example, a candidate may be asked to elaborate on his or her experience, training or observations.

Are candidates asked the same questions in the interview?

For the most part, candidates are asked the same questions in their interviews. A candidate’s experiences, however, may lead to questions that help the BDC better understand that candidate’s knowledge. For example, a candidate may have served on another Board of Directors and be questioned about that experience. A candidate will not be asked about such governance experience if they have no such background.

Can you publish the results of the evaluations or show how the candidates scored in their interviews?

No. Just as the results of job interviews aren’t made public, the evaluations of the candidates are not published for privacy reasons.

Should members just vote for the ‘recommended’ candidates?

Members should vote for the candidates they believe are best qualified to serve on REBGV’s Board of Directors. Because it’s not practical for all members to know every candidate, the BDC conducts a rigorous, skills-based assessment of each candidate and makes recommendations for members’ voting consideration.

Why does the Board recommend candidates?

This is leading practice in good governance today. The organizations we admire for their governance processes take similar approaches to vetting director candidates.

Good governance doesn’t happen by accident. The recommendation process is intended to ensure that there are always highly qualified candidates running in every election.

With an organization representing of over 14,000 members, it’s not expected that every member will know or have the time to research every candidate and his or her qualifications.

Do other organizations recommend candidates?

Yes, other member-driven organizations like Vancity and Mountain Equipment Co-op take similar approaches to vetting director candidates. It’s considered a best practice in governance today.

Fairness

Does being recommended give a candidate an unfair advantage?

The recommendation process isn’t about providing unfair advantages. It’s about identifying candidates who are capable of leading REBGV in the best interest of all members.

This is a purposeful process intended to identify the most qualified candidates. This approach encourages candidates to be prepared and it helps members make informed votes.

REBGV’s Governance Committee designed this process after several years of research into the leading governance practices that organizations across all sectors use today.

Is the recommendation process undemocratic?

Ours is not a government election whereby constituents choose a person to specifically represent them in a political environment. The process undertaken by the BDC is not political; it’s a process designed to help members know which candidates have the competence, character and commitment necessary to lead a large professional organization like REBGV.

I think member X is an experienced and qualified candidate. Why wasn’t that person recommended?

Experience and qualifications aren’t the only factors. Temperament, track record, emotional intelligence, comments from references, and other variables are all considered.

The BDC also receives information about competencies needed at the Board of Directors’ table. The BDC looks for candidates with those skills.

Does the BDC play favourites?

No. All candidates go through the same evaluation process.

REBGV hosts professionalism symposium for up-and-coming leaders

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Your Board recently gathered a group of up-and-coming leaders in real estate to discuss and define a new standard of professionalism in real estate.

The full-day event featured presentations from speakers like Superintendent of Real Estate Micheal Noseworthy, Real Estate Council CEO Erin Seeley, and other young leaders from the legal, accounting, and engineering professions.

Attendees also reviewed consumer and member research on expectations of and standards within our profession. Those in attendance then formed breakout groups to discuss the core issues that the research identified.

Our Ethics Guy®, Kim Spencer, shared these remarks to help spark conversation at the event.

The event focused on the future. What should the profession expect of its members in the future, and vice versa? What do clients expect of their REALTOR® and how will that change?

“This event was about bringing together a group of members and exploring ways to make lasting improvements to the skills, attitudes, and culture within our profession,” Ashley Smith, Board president said. “It’s inspiring to see how many of our young leaders are committed to the betterment of our profession and working together to create the change they want to see.”

Click here to review the agenda and presentations from the symposium.

We’re compiling the feedback received at the session and exploring future opportunities and forums to continue this conversation about professionalism with the membership.

We’ll share more insights from this event in future communications.

The Ethics Guy®: When is a sold, SOLD?

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A member recently suggested I address this question in my column: When is a sold, SOLD? I wondered, is this one of those chicken versus egg questions? So, I gave it some thought and started writing. And writing. And more writing.

What had begun, I thought, as a simple answer to a simple question became more and more complicated as I wrote. Like most things in life, the issue isn’t black and white. Rather, the answer is, as usual, in the grey area of “it depends.” This is irritating, I know, but it does depend on whose shoes you’re standing in.

Accepted unconditional offer—Is it sold?

Yes, with a microscopic maybe. The parties have agreed to a deal without subjects. Everything’s looking good, assuming everyone does what they promised to do in the contract. But this kind of deal has a teensy “maybe” attached to it. Why? Someone could refuse to complete for a host of reasons. The most common might be funding the deal, or new information being revealed that causes one of the parties to change their mind. Thankfully, this rarely happens. In fact, confidence is so high that this unconditional deal will close, we’re comfortable requiring brokerages to report the sale and sold price to the MLS® department under Rule of Cooperation (ROC) 5.01, which allows other members to use the information in their CMAs and to advise clients. But under ROC 8.06, the public advertising of the sold price is still a no-no. You’d have to wait for the deal to close before you can do that.

Accepted subject offer—Is it sold?

Yes, with a big maybe. Will the appraised price make the bank happy? Will the inspector bless the property? Will the buyer’s relatives nix the deal? Who knows? But one thing is for sure: at the moment the buyer and seller agree to sell and buy via written acceptance of a contract or purchase and sale, a contract is born. This means the parties have an obligation to act in good faith, doing what they promise to do in the contract. It matters not that the contract has a subject clause or two; it’s still a contract and the parties must treat it as such. Why isn’t the sold reported to the Board yet? For fear that subjects might not be removed. If the sold price were reported, the seller’s bottom line would be revealed to all, which is not something sellers are likely to want. In this scenario, some sellers consider their place sold, as do some buyers. Other sellers and buyers adopt a wait-and-see approach. Things happen, and that’s why there’s still a big “maybe” tag on this deal. It’s subject. Remember: don’t count your commission yet or the real estate god will strike your deal stone-cold dead.

Accepted offer, subjects removed—Is it sold?

Yes, with a maybe. You’re getting excited now and, assuming everyone does what they promised to do (and they very likely will), the “maybe” just got a lot smaller. (See “Accepted unconditional offer” above.)

Deal closes—Is it sold?

Yes, it’s really sold now. Everyone did what they promised to do. The sold price information will soon be available through the Land Title and Service Authority public registry. When this information is in the public domain, you can state the sold price in your advertising under ROC 8.06. Of course, you still have to wait for the commission cheque in the meantime. It’s like waiting for the Second Coming.

Possession by the buyer—Is it sold?

Yes, it’s sold. But another shoe has dropped. The buyer has the keys. You still haven’t been paid but you’re starting to relax a bit—subject to becoming less relaxed when the buyer calls to tell you the dishwasher is broken, there’s a crack in the wall, and the place could be cleaner. Could the waiting for your cheque be any more tedious?

The commission just hit your account—Is it sold?

Yes. For you, it’s finally sold. Subject to whatever outstanding office and business expenses needing to be paid, the rest of the money is all yours. Book a table and call up that important person in your life. You’re going out to celebrate tonight. But don’t spend it all. It would be prudent to save some dollars for a rainy day. (Note I said “prudent,” not “must.”)

In summary, saying a property is sold depends on which hat you’re wearing. Contract law, Board requirements, and privacy obligations are not always the same.

Bouquet

Congratulations, Denise and Patsy Hui of RE/MAX Westcoast Realty, Richmond. Karen Carter, RE/MAX Crest Realty, Vancouver is sending you a bouquet. Here’s what she told us:

“From the first call to book a viewing to the passing over of the keys, these ladies showed a level of professionalism that we should all aspire to. The sellers had taken a couple of items that had been mounted to the walls, and when I called to discuss, Denise simply said she would deal with it. She bought replacements and had them installed for my clients. A simple thing, but so appreciated by my clients and myself. Thanks!”

Don't miss our Great Gatsby Christmas Party

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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 ruling (C18-18).

Congratulations to our 2019 scholarship recipients!

We recently awarded the children of five members with our 2019 post-secondary entrance scholarships.

Each recipient received $1,500 toward this year’s schooling costs. The scholarships are based on performance in academics, athletics, fine arts, and community service.

This year’s recipients are:

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Delina Chen, daughter of Tiger Chen, Royal Pacific Realty Corp.

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Jonathan Chan, son of Viviene Ma, Rennie & Associates

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Kevin Wong, son of Derek (Cheng) Wong, Dynam Realty Ltd.

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Madeline Leaf, daughter of Scott Leaf, Keller Williams Elite Realty

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Sara Lee, daughter of Bonnie Chiu, Royal LePage Westside

Congratulations to our recipients, and good luck to everyone who applied!

Nominate an exceptional REALTOR®!

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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 the description, nominate them for a REALTORS Care® award today.

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

Federal election results, the Cullen Commission, CREA FINTRAC tools, and more

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Federal election results

The votes are in! Here’s a summary of the results from the October 21 federal election in the Board's area, which has 17 ridings.

Read more.

BCREA to represent real estate at the Cullen Commission

The BC Real Estate Association has been granted participant status with the Cullen Commission of Inquiry into Money Laundering in BC. The commission was created to probe the extent, growth and methods of money laundering in BC.

Read more.

CREA updates FINTRAC tools and resources

FINTRAC recently issued new guidance and policy interpretations to ensure REALTORS® adhere to the requirements of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and regulations. In turn, CREA has updated their FINTRAC tools and resources.

Read more.

Have a say in what happens in Vancouver

The City of Vancouver is looking for volunteers for different advisory boards and committees. If you’re appointed, you’ll have a say in helping inform city policies and services. The deadline to apply is November 1.

Read more.

Heritage Conservation Grants program deadline is November 4

If your clients own a property on the Vancouver Heritage Register, they may be eligible for grants if they’re planning to conserve and preserve their home. The deadline to apply is November 4.

Read more.

Spread the news about the 25th REALTORS Care® Blanket Drive

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The 25th annual REALTORS Care® Blanket Drive runs from November 18–25.

Help us celebrate a quarter century of helping Lower Mainland residents stay warm. The Blanket Drive is the largest program of its kind in the Lower Mainland, and it’s yours! As a REALTOR®, you’re an owner of the program and we need your help to spread the word!

Be a part of Blanket Drive 25 by using your Facebook, Instagram, and Twitter accounts to share our posts. Or, create your own posts!

You can find shareable content and other Blanket Drive information and images on our social media accounts:

Be sure to use the hashtags #blanketdrive25 and #realtorscare.

About the Blanket Drive

We collect blankets and warm clothing to help those most in need. Real estate offices across the Lower Mainland serve as drop-off locations to collect donations, which are then sorted and shared with charities in the same community where they’re collected.

Share the word among your clients and contacts, and work with them to collect donations of the following items:

  • gently used or new blankets or sleeping bags;
  • warm clothing and coats;
  • hats, gloves, and scarves; and
  • new socks and underwear.

You can drop off donations at any of these locations.

Since 1994, thousands of REALTORS® from Whistler to Hope have collected enough donations to help more than 385,000 people in need. Each year, more than 75 dedicated members pick up and deliver all of the donations, and over 100 real estate offices in the Lower Mainland serve as collection depots.

New REALTOR.ca Listing Stats app available

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The Canadian Real Estate Association has released a new REALTOR.ca Listing Stats app that’s available as a free download for members in the Apple App and Google Play stores.

The app lets you view your listing stats and manage leads on the go. It’ll also:

  • Notify you when your listings go live.
  • Track listing stats, including consumer interactions, shares, photo gallery views, and more.
  • Text or email listing reports to your clients.
  • View and respond to email leads.

Download the app today. If you encounter issues, email support@crea.ca

Terry Dowle elected President of Appraisal Institute of Canada BC Chapter

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Real estate appraiser and REBGV member Terry Dowle was recently elected President of the BC Chapter of the Appraisal Institute of Canada.

In addition to Terry’s 30 years of experience working in real estate and 18 years of volunteering and mentoring in the profession, he also instructs our Understanding Strata Depreciation Reports for REALTORS® and Market Valuations & Adjustments for REALTORS® course.

Learn more about Terry here.

Congratulations Terry!

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Courses and Events

December 4
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Blues vs. Canucks REALTORS® game night

Tuesday, November 5, 2019

Click here for our ticket offer!