Phantom Offers: Bill 55

RECO

On July 1st, 2015, Bill 55 will make the good practices of Local Peterborough REALTORS® enforcible legislation from the Real Estate Council of Ontario (RECO) for all REALTORS® in the province of Ontario.  As per RECO, Bill 55 means that all offers on Real Estate sales must be submitted to the Brokerage in writing, eliminating Phantom Offers, and must be signed to be valid.  Furthermore, RECO states, “a registrant cannot indicate that they have an offer, unless they have a written offer.”

For more information on Bill 55, please visit RECO’s website at: http://www.reco.on.ca/professionals-news/understand-new-rules-for-handling-offers/

The Ontario Real Estate Association has created Form 801 to help REALTORS® comply with the new legislation.  More information about Form 801 is available on OREA’s Blog: https://www.oreablog.com/2015/06/faq-around-standard-form-801/


 

May 2015 MLS® Statistics

Dominic ColeDominic Cole, President of the Peterborough and Kawartha’s Association of REALTORS® states; “May 2015 has been our best May sales since 2005, with 406 sales.  If we break that down a little further, it’s the best residential sales since 2004! May also had the best Cottage/Recreational Property Sales in 5 years!” President Dominic Cole had a telephone interview with Chex Local News about Peterborough’s rapidly growing housing market and hot sales market; see the full segment here: http://www.chextv.com/2015/06/17/30534/

The Canadian Housing Market has had 4 straight months of increased sales, with a 3% increase from April to May 2015 according to statistics from the Canadian Real Estate Association (CREA). The full report on Canada’s hot housing market is on CREA’s website at: http://creastats.crea.ca/natl/

May stats

Local REALTORS® Support Local Downtown Farmer’s Market

On Wednesday June 10th PKAR was happy to have a booth at the Downtown Farmer’s Market! It was a beautiful morning with local food and local Realtors®.  Throughout the morning many Realtors® attended the market and helped us talk to people about How Realtors® Help with your real estate transactions.

YOUR LOCAL REALTOR®:

  • Has in-depth knowledge of the local community and neighbourhoods including schools, health care facilities and parks & recreation
  • Has a network of resources available i.e.: home inspectors, contractors, cleaners, financial sources and others
  • Works within the framework of insurance and liability coverage
  • Protect your interests and to look after details
  • Will work with you as an active partner in the process, working together every step of the way

For more information about the Downtown Farmer’s Market visit: http://ptbodowntownmarket.blogspot.ca/

Rebecca & Wendy at Market June 10-15

PKAR’s Annual Past Presidents’ Night and Silent Auction


On Wednesday May 27th, 2015, past and present members of Peterborough and the Kawarthas Association of REALTORS® gathered together to celebrate Past Presidents’ Night with a dinner and silent auction at the Evinrude Centre. The evening culminated with the presentation of the annual awards in additional to the presentation of New Member Certificates, and recognition for membership milestones for 25, 50 and 60 years.

The evening begun with a social hour, dinner and silent auction where Realtors® and their guests enjoyed some friendly competition for the generously donated auction items. The Silent Auction raised $6,802 for the Ontario REALTORS C.A.R.E.® Foundation, which will be donated back into the community of Peterborough at the end of the year.

After dinner Ron Abraham, Regional Director with the Canadian Real Estate Association, congratulated PKAR on its 70th Anniversary. Ron also presented PKAR’s Government Relations Committee with the CREA Award for Outstanding PAC Team for Small Boards.

PKAR honoured new members Jack Cole, Clint Gage, Eunice Given,Karen Little, Greg Ret, Jeffery Clark,Steve Macdonell, Alex McLeod, Mandy Spahn, Jason Mooney, Petula Jones and Jeff Wilson.

Sharon Lawes, Bill Smerhy and Dean Bridges were noted for being members who just recently hit the 25-year milestone, as well as Gail Burton and Joe Manacchio who were not in attendance.  All PKAR Members who have achieved 25 years of membership were also named and recognized.

Ronald Lawes, Broker and Owner of RJL Realty Ltd., Brokerage  was celebrated with an Honourary Fellow for his dedication and loyalty to the association. Ronald has been a member of PKAR since 1970 and served as the President in 1998. All Honourary Members were named and recognized by the Association.

The main focus of the night is honouring our Past Presidents'; who dedicated their time to the Association to ensure that organized real estate in Peterborough remains a professional business where our Realtors® are valued members of our community. PKAR’s Past Presidents in attendance were:

  • John Bowes, President 1957, Honourary fellow, PKAR member since 1950, 65 years in real estate
  •  Lorne Smith, President 1958, Honourary Fellow, PKAR member since 1951, 64 years in real estate
  •  Don Barrick, President 1973, Honourary Fellow, PKAR member for 49 years from 1965 to 2014, Retired
  •  Carl Oake, President 1976, Honourary Fellow, PKAR member since 1968, 47 years in real estate
  •  Fraser Hamilton, President 1983, Honourary Fellow, PKAR member since 1965, 50 years in real estate.
  • Sheila McConkey, President 1985, Honourary Fellow, PKAR member since 1969, 46 years in real estate
  • Deanna Weaver, President 1988 & 1994, Honourary Fellow, PKAR member since 1970, 45 years in real estate
  •  Vern Hamilton, President 1989, PKAR member from 1970 to 2012, Retired
  •  Judith Maxwell, President 1991, PKAR member from 1985 to 1993, Retired
  •  David Smith, President 1992, Honourary Fellow, PKAR member since 1983, 27 years in real estate.
  •  John McConkey, President 1996, PKAR member since 1985, 30 years in real estate
  •  Ron Lawes, President 1998, PKAR member since 1970, 45 years in real estate
  •  John Hope, President 2000, PKAR member since 1976, 39 years in real estate
  •  Richard Hawkins, President 2001 & 2011, Honourary Fellow, PKAR member since 1994, 21 years in real estate
  •  Barbara Jinkerson, President 2003, PKAR member since 1986, 29 years in real estate
  •  Robert Norman Clarke, President 2004, PKAR member since 1992, 23 years in real estate
  •  Jane Campbell, President 1988, PKAR member since 1988, 27 years in real estate
  •  Tom Bennett, President 2005, PKAR member since 1994, 21 years in real estate
  •  Clarence Collison, President 2007 & 2008, PKAR member since 1986, 29 years in real estate
  •  Barbara Criegern, President 2009, PKAR member since 2001, 14 years in real estate
  •  Christine Kemp, President 2010, PKAR member since 1998, 17 years in real estate
  •  Rennie Lowes, President 2012, PKAR member since 2003, 12 years in real estate
  •  Peter Ward, President 2013, PKAR member from 2001 to 2013, retired
  •  Ken Barrick, President 2014, PKAR member since 1998, 17 years in real estate
  •  And the current President Dominic Cole, PKAR member since 2008, 7 years in real estate

Also acknowledged were current 60 year members, Lorne Smith and John Bowes – the only REALTORS® in Canada who have been in the business that long!

Part of the Annual Past Presidents’ Night are the annual PKAR Awards. This year the Merit Award and Past President’s Award were given out. Diane Lloyd, Broker of Record for Homelife Preferred Realty Inc., Brokerage, was presented the Merit Award for her work with the Kawartha Pine Ridge District School Board, and 11 years on PKAR’s Government Relations Committee. Donald Barrick, retired as Owner and Broker of Record from Royal LePage Parkway Realty Brokerage was given the Past Presidents Award for his unwavering dedication to his profession as a REALTOR®. Donald was a Realtor® for 49 years and served as the President in 1973, when the average house price in the City of Peterborough was $33,731. Donald was on the Ontario Real Estate Association’s Arbitration committee for over 35 years, and volunteered for many PKAR committees including Political Action, By-Laws and Standard Forms, REBBA Regulations, Professional Standards, Arbitration, as well as creating the Renovating Committee in 1989, which became the Building Committee, which he was a member of,  in 2011. The 2011 committee finally saw the project come to fruition with the transformation of PKAR’s Charlotte Street Office after 22 years.

PKAR congratulates all members who reached Milestones and received awards this year. We are 70 years strong and proud to have such wonderful members.

DSCF1260

PKAR’s Past Presidents

 

For more photo’s from the night click here!


 

PKAR Local REALTOR®: Torchbearer for the Toronto 2015 Pan Am / Parapan Am Games Torch Relay


PKAR and fellow members, 

I am thrilled to announce to you that my nomination for a position as a torchbearer for the Toronto 2015 Pan Am / Parapan Am Games Torch Relay has been accepted and confirmed.

The event is taking place in Peterborough on June 4, 2015 at 5:40pm on the Trent Canal and I will taking part in a canoe paddle leading up to the Historic Lift Lock site at Lock 21.

I have to thank my fellow board members at the Canadian Canoe Museum for making this happen and our Executive Director Richard Tucker who surprised and honoured me with the idea for putting my name forward.

I look forward to seeing you on the Torch Relay as we rev up the 41-day journey to celebrate the spirit of the Pan Am / Parapan Am Games in communities across Canada.

Warmest regards,

Ron Whetung  

Pan Am Parapan Am Games 2015

 Ron Whetung
Sales Representative, since 1985


 

PKAR Has Opportunity Available for Summer Student

PKAR is happy to announce that we have been approved to receive funding from the Government of Canada under the Canada Summer Jobs Program to employ a summer student!  The candidate will be working for 8 weeks, performing day to day administrative tasks in a not-for-profit office setting.

We are looking for a candidate that meets the following criteria:

  • is between 15 and 30 years of age (inclusive) at the start of employment;
  • was registered as a full-time student during the preceding academic year;
  • intends to return to school on a full-time basis during the next academic year;
  • is a student in a secondary, post-secondary, vocational or technical program;
  • is a Canadian Citizen, permanent resident, or person on whom refugee protection has been conferred under the Immigration and Refugee Protection Act* and;
  • is legally entitled to work according to the relevant provincial / territorial legislation and regulations

Anyone interested is urged to contact Wendy Giroux, Executive Officer via email at: exo@peterboroughrealestate.org or in person, Monday to Friday from 8:00am to 3:00pm.

April 2015 Statistics

Dominic Cole
Dominic Cole, 2015 President of the Peterborough and the Kawartha’s Association of REALTORS® Inc. states: “Sales for the month of April are up 28% from last year and this is the best total sales for the month of April since 2007. When you take a look at where sales prices were over the last 10 years, you will realize that Real Estate is still one of, if not, the best investment you can make. The chart below provides some additional insight, but you will see that the comparisons in house prices from 2005 through 2015 have increase by 64.59% in the City and 94.34% in the County!”

chart

The Federation of Rental-housing Providers of Ontario (FRPO) is warning all tenants and landlords to be aware of an increasing number of apartment and rental fraud schemes. Rental scams vary but one scenario that we have experienced in Peterborough recently is identified in this example: A scammer poses as a landlord on websites such as Craigslist or Kijiji for a property that one of our REALTORS® has listed and says they require a deposit on the rental apartment (usually first and last). Once the money is paid, usually through a money transfer, the new tenant discovers there isn’t actually a rental home available, and their money is lost. 

For More Information on Rental Scams and How to Avoid them visit:

http://www.fcac-acfc.gc.ca/Eng/forConsumers/lifeEvents/movingOut/Pages/Housingf-Fraudese.aspx

https://www.rentboard.ca/renter/fraud_and_scams.aspx

http://www.frpo.org/rental-housing-fraud-on-the-rise-beware
chart stats

PKAR’s Last CEU Course

Today PKAR held our last Mandatory Continuing Education Course (Continuing Education Unit or CEU) for our Local REALTORS®. In 2013 the Real Estate Council of Ontario (RECO) announced that all Mandatory REALTOR® Education would be moved to an online only format offered exclusively by RECO. RECO gave Real Estate Associations in Ontario a two year transition period, which is outlined in the picture below.

RECO Edu

RECO’s Continuing Education Transition

REALTOR® Education is important to PKAR, as an association, and to our REALTORS®, who use the information from Local Education courses to help their clients find their Dream Home in The Kawarthas. PKAR will continue to hold educational sessions for Local REALTORS® in the future, even though we cannot give CEUs for these sessions. The new PKAR sessions will be shorter in length and more focused on what affects REALTORS® in the City and County of Peterborough. PKAR is looking forward to this opportunity to tailor all future educational sessions to offer Local information to our Local REALTORS®.

PKAR’s next, non-CEU, educational session will be Friday June 5th 2015 at our Association Office. The new sessions will have one hour of REALTOR® networking, with refreshments, and one hour of instruction with time for questions. PKAR is happy to welcome speakers from the City of Peterborough to discuss the new Rooming House By-Laws on June 5th at 9:15 am. Information on the session is on the DMS system, or contact PKAR.

 

For more information about RECO’s REALTOR® Education Program visit the RECO website at: http://www.reco.on.ca/real-estate-professionals/education/mandatory-continuing-education/

Congratulations to CREA Membership Survey Winners

Congratulations to Jeremy Anderson and Kate Kidd of the Peterborough and the Kawarthas Association of REALTORS® Inc. for completing the CREA 2015 Spring Membership Survey. Jeremy and Kate were selected to win REALTOR® branded mobile power banks.

Dominic, Jeremy & Mike

PKAR President Dominic Cole (on left) with Jeremy Anderson (centre) and PKAR President-Elect Mike Heffernan (on right).

Dominic, Kate & Mike

PKAR President Dominic Cole (on left) with Kate Kidd (centre) and PKAR President-Elect Mike Heffernan (on right).

 

March 2015 Statistics

Dominic ColeDominic Cole, President of Peterborough and the Kawartha’s Association of REALTORS® states: “PKAR is turning 70 this year and you would not think it with the spritely spring sales. The terrific momentum from 2014 has been incredible with March Sales being the best since 2007. So far we are 26.5% ahead of this time last year in terms of number of sales on our MLS® System. Property sales generate an enormous ripple effect of income and customer spending into the trades and services industries. The positive outlook is largely based on low mortgage interest rates, a thriving Peterborough community and the continued equity growth in local property values.”March MLS