Motion or Commotion???

How Can “The Largest Board in Organized Real Estate” Conduct Motions in this Manner?  Can someone please explain because right now I am confused.  I am all for change and modernization but what was that??????

Firstly, we approve an Agenda for a meeting that was clearly not followed.  As a matter of fact, we start the By-Law discussion and then cut if off mid way through for the Mayoral Debate YET it clearly stated on the Agenda that the Bylaw Changes were after the Debate.  So what is more important here?  Accomodating a bunch of Mayors who basically had a chat by themselves because the room was half empty.  Secondly, we were in the middle of the By-Law debate when we broke it off to allow for the Mayors little tete a tete.

During the wait time, many people actually left !!!   I had two people hand me “RED CARDS”

outside of the room and said I have had enough and this is taking too long, I have to go and left.  Those red cards could not be used or voted.   

So when we reconvene, they then proceed to take the Vote… and it appears to look like a mass of green paper and then a mass of red paper.  Impossible to count clearly.  From my view, it looked like red had more, to the point where a person who voted “for” the Motion said, we lost… so it wasn’t just me.  Then much to my surprise, the President says, we are going to do it again, it is too close to call !!!  Wait, what????  Too close to call?  So we lift our cards again, this time to have 3 or 4 TREB staff wander the room counting pieces of paper in the air. 

How on earth can a Board function like this??  55,000 members and maybe 1,000 they announced were in attendance and at the end of the second vote, they say, the Greens win …. After a bit of an outcry from the members, asking for recorded votes, etc.  They say no the Yes vote wins.  We then ask by how much?  It turns out to be 10 votes.  10 green pieces of paper more…. Really?  That is how we are going to run our Board?

Who monitored if someone held up two pieces of paper?  And I think they said it was 168 to 178 …. Well that barely equals 350 – so what happened to the so called 1,000 people they said were there.  They left !!!   But they can pass a Motion with a 10 vote difference.  And who were these mystery counters????  Treb Staff????  Really????  So 650 people were missing?  Funny, we can register using QR codes on our phones but vote like an episode in the  Flintstones.

To say I am disappointed is putting it mildly.  I also had agents from our office drive from Pickering out to Etobicoke to participate in this process and truly, they were shocked at the way it is done.  How on earth do you expect members to get involved when from the first onset, none of it has followed any kind of protocol.  It was embarrassing.  If this was a Union Meeting, there would be a riot !!!  They would lock the doors during a vote and not have people walking in and out of a Trade Show.  This is our industry and the future of it depends on these Motions and By-Laws.  Shame on you.  Not on the Motions – on the fact that you allowed our Association to become a complete joke !!  I for one, has never seen such a mockery of a vote.  We don’t have other ways to get people to vote?  Electronically, sign a piece of paper and count it at least – but today was a sad day.

I have sat on the TREB Board for 6 years and I know they work for free and they do their best for the most part but what went on today was atrocious and I for one, am ashamed to a member of a Board that conducts themselves like this.  I am sure I am not alone.

Good luck getting more members to vote and participate.  Shame on you !!

Very Competitive Market in July - Latest July 2014 Housing Information

9,198 Sales in July - 5,883 were from 905 AREA - Interesting... 7.5% increase in home prices from same time last year !   Invest in real Estate... 

TREB 25/50 Year Dinner

Always a pleasure being involved with TREB and these photos were taken at the 25/50 Year Dinner forTREB members in the business 25+ years.  The Board was very pleased with the turnout and the event.

 Members came from all over GTA to meet their old colleagues and new ones.  Dinner and entertainment was provided and everyone really seemed to enjoy themselves.   Diane Usher, TREB President presented awards to 50 Year Members.  It was a lovely evening and I was happy to be a part of it.

What Every Home Buyer Should Read !

WHAT BUYERS NEED TO KNOW !

Most people are familiar with hiring a real estate agent to sell a home, but fewer are aware that as buyers, they are also able to hire an agent to work diligently, protect their interests and find the best possible property for the best possible price. Many people assume that the best person to call when interested in a property is the listing agent, when this is not the case!
Buyers often approach the task of finding a new home by calling the number on “For Sale” signs, searching real estate magazines & newspaper ads and using web sites such as Realtor.ca. What they may not realize is that by contacting the listing agent directly (the name on the “For Sale” sign or the ad), they are actually calling the agent who’s first and foremost responsibility is to protect the interests of the seller!

This is not to say that you cannot buy a home from a listing agent .... they are licensed professionals and are obligated to work with a buyer in a fair, honest and ethical manner as their customer, but they do not necessarily owe buyers the fiduciary duty that they owe their client, the seller. Without a signed Buyer Agency Agreement, anything that you disclose to the listing agent about your budget, motivation or otherwise, can and will be used to benefit the position of the seller during negotiations.

What is a buyer to do?

Hire your own Buyer Agent! You can interview potential buyer agents and choose the one who you feel will work the hardest for you, has the best track record, and whom you feel comfortable with. Furthermore, a buyer agent’s services are almost always paid out of the gross commission that the seller has paid to their listing brokerage!

When you have found the sales representative that you want to work with, you will sign a contract called a “Buyer Agency Agreement” which legally obligates your agent to provide you fiduciary duty, confidentiality and to protect your interests and motivations. In return, you agree to work solely with your agent for the time period stated therein, and allow them to collect their commission from the sale of the property that you purchase.

Once you have chosen your Buyer Agent, you will be in a much better position to find the best property for you. Many listings are sold before the “For Sale” sign ever goes up and there is a time lag between realtor’s MLS and the public MLS website, so your Buyer Agent is able to notify you about a hot listing before it hits the public portals. Once your agent understands your preferences, they will also keep their eyes open for you as they inspect properties daily. Remember that during the day, while you’re at work, your agent will be out inspecting and comparing properties to find you the perfect fit! In addition to helping you find a property, a good agent will also be able to help you with things such as mortgage pre-approvals, lawyers, insurance, and home inspector referrals.

Buying a home can be an intimidating task. Hiring a Buyer Agent to guide you through this process is one of the best ways to ensure that you will be prepared to make a confident and informed decision when the time comes to place your offer.

For more information, please call Michelle Makos at 905-831-3300 or 416-300-3004 or email at michelle.makos@rogers.com

Mid Month - November Market Watch

TORONTO, November 19, 2012 – Greater Toronto Area REALTORS® reported 2,687 transactions through the TorontoMLS system during the first two weeks of November.  This result represented a 17.5 per cent decline compared to the same period in 2011.

“The reduction of the maximum amortization period to 25 years translated into higher mortgage payments. Some households will have to save more money for a down payment before purchasing a home, in order to offset these higher mortgage costs. This is more difficult in the City of Toronto, where households must pay an additional land transfer tax up front. The abolishment of this tax would allow buyers to have a larger down payment,” said Toronto Real Estate Board (TREB) President Ann Hannah.


For full market report click here

October Market Watch Information from TREB

October 2012 - Market Watch States -  Average Price Up in October, Despite Fewer Sales

November 5, 2012 -- Greater Toronto Area REALTORS® reported 6,896 transactions through the TorontoMLS system in October 2012 – a decrease of 7.1 per cent compared to October 2011. There were two more business days in October 2012 versus October 2011. On a per business day basis, transactions were down by 15.6 per cent.*

“Sales have decreased in the second half of this year compared to 2011, especially since the onset of stricter mortgage lending guidelines at the beginning of July. The prospect of higher monthly mortgage payments due to the reduced maximum amortization period has prompted some households to delay their home purchase,” said Toronto Real Estate Board (TREB) President Ann Hannah.

The average selling price for October transactions was $503,479 – up 6.2 per cent compared to October 2011. The MLS® Home Price Index composite benchmark price, which allows for an apples-to-apples comparison in terms of home attributes, was up by 5.1 per cent.

“We continue to see price increases well above the rate of inflation. Active listings have remained low from a historic perspective, so substantial competition between buyers still exists, especially for low-rise homes,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

“It should be noted, however, that the annual rate of price increase has been edging lower over the past few months as the market has gradually become better supplied,” continued Mercer.

*NOTE: The majority of transactions are entered into the TorontoMLS system on business days. There was a mismatch of two business days in September and October of 2012 compared to the same months last year. This is why sales on a per business day basis were noted in releases dealing with these months. The business day anomaly between the two months has now balanced out.