CREA FAQ re: Consent Agreement

1. What is different now than before in this agreement?

This completes the process with the Bureau before the Competition Tribunal and addresses the Commissioner’s concerns. The Consent Agreement clarifies that Boards and Associations cannot adopt, maintain, or enforce rules to discriminate against mere postings on their Board MLS® Systems or that discriminate against members because they offer mere postings. It was always clear to us (and reflected in current practices) that our rules allowed for many different service models, including mere postings.

2. Can the public put properties directly on Board MLS® Systems?

Post- Briefing Update on the Competition Bureau case

On September 30th, the Canadian Real Estate Association’s (CREA) Board of Directors issued
an announcement that it had approved a settlement with the Competition Bureau.
The proposed agreement:

 Does not give the public direct access to the MLS® system or to REALTOR.ca; the

Membership Pillar has not changed and the MLS® system remains a member to

member service;

 Does not require brokerages to change their business models;

 Does not preclude Boards or CREA from having rules for the efficient operation of an

MLS® System which are not contrary to the Agreement;

 Does not impact the Compensation Pillar; and

 Does not impact the responsibility of members to ensure the accuracy of MLS® listing

content.

GTA REALTORS® Report Mid-Month Resale Housing Market Figures

TORONTO, October 18, 2010 -- Greater Toronto REALTORS® reported 3,012

sales through the Multiple Listing Service® (MLS®) during the first two

weeks of October 2010.

Check out my SOLD listing at 83 The Bridle Path, Toronto ** Was Asking Only ** $12,900,000 - It's More Than Just A Home, It's An Investment!


My SOLD Listing: 83 The Bridle Path. Was asking only $12,900,000.

Status Certificate

After requesting a Status Certificate a week ago from a Condominium Building, I was told that I needed to present them with a Bank Draft or Certified Cheque...and that they now charged $120 plus HST for the Documents. Of course, I argued, and won, that the Ontario Condominium Act '98 stipulates a cost of $100 and no taxes. (Richard Silver, REBB)

Why Me!

Investing in, Buying, Selling, or Leasing real estate is sometimes a complex undertaking. Hiring me, a real estate professional will help save you time and money. Together, we will determine your needs and wants and find or sell your property. I promise to make your real estate experience stress-free and agreeable.

REALTORS®, Competition'and MLS Systems®

There have been a number of recent news stories about CREA and the Competition Bureau and not all of those stories have been accurate. Here is what you should know.

Why begrudge the commission?

Barry Lebow wrote this in a national Canadian newspaper for real estate people but actually it is a rant to the public and especially to the cynical and unenlightened media that continually bashes real estate agents.

Allow me to put my tirade into a really simple perspective. If a stock or other investment broker made you, say, $200,000, would you begrudge them a $10,000 commission for their efforts? I know this about my personal experience with stock brokers – it sometimes appears that their fees can be greater than my profits. One day I really will try to figure out all the charges and fees in my mutual fund.

Check out my listing at: 83 The Bridle Path, Toronto, Ontario, Canada

83 The Bridle Path has been featured on the front page of the Toronto Star, The Globe and Mail and The National Post and many other prominent papers from Canada and abroad.

Modernism, Minimalistic Extravagance & Contemporary Styles; 'The Sensual Space' Explores Metal, Wood, Water, Fire & Earth. Alive, Dynamic With Sense Of Autonomy.

83 The Bridle Path

Federal Government Changes Mortgage Rules

The federal government has announced changes to the rules for government-backed insured mortgages (less than 20 percent down payment) as follows:

All borrowers will be required to meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter terms.

Reduced maximum amount that can be withdrawn in refinancing a government-backed insured mortgage to 90 per cent from 95 per cent of the value of the home.

Require a minimum down payment of 20 per cent for government-backed mortgage insurance on non-owner occupied properties purchased for speculation. Borrowers purchasing owner-occupied residential properties will still be able to access government-backed mortgage insurance with a 5 per cent down payment.

A Caution For Winter Vacationers:

A caution for winter vacationers: if your house is unoccupied for more than four consecutive days during the winter season, your insurance will not cover water damage that is due to the freezing of any part of a plumbing, heating, sprinkler, or air-conditioning system or domestic appliance, UNLESS you arrange for a competent person to visit your house daily to make sure the heat is maintained. Another option is to shut off the water supply and drain all pipes and appliances.