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Don’t post MLS® tour images and videos on your accounts

MLS® tours are a popular way for members to generate exposure for their listings while networking and staying on top of the local market.  

However, we’ve been hearing recently that some members are taking photos and videos of tour listings and posting them to their websites and social media accounts. This is a violation of Article 14 of the REALTOR® Code and Rule 8.3 of the Rules of Cooperation.

Why is this a violation?

Any promotion of a property in any form, including electronic media, is advertising and is prohibited without the prior written permission of the listing brokerage (who must have the written permission of the seller before giving that permission).  

If a social media post is allowed by the listing brokerage, the post must also include the name of the listing brokerage.  

These rules apply to the posting of pictures and video, which shouldn't have been taken in the first place without the express written consent of the listing agent.  

Even if shared with just one buyer client, who knows what that client will do with them, where they will post them, etc. There's a massive exposure potential for all concerned. 

There can be serious professional, regulatory, and potentially legal consequences should any of the posts you or your clients create lead to a break-in or theft. And that doesn’t include the reputational risk you’re exposing yourself and the profession to. 

What are MLS® tours?

An MLS® tour (log in needed) is an effective way to expose your new listing. It's a caravan-style tour that starts at one location, and members car-pool to other listed homes. It's also an excellent way to increase your knowledge of local communities. 

To submit a listing for a MLS® tour, send it to the MLS® tour coordinator for the area where your listing is located. They'll include it in the next available tour. You’ll get a guaranteed visit to your listing, and an opportunity to network and build a rapport with fellow members. 

Any new residential listing can be included. Realtors who submit listings must be present during the tour to provide access. 

Questions? Contact Daniel Ryall, manager, MLS®, at dryall@gvrealtors.ca.

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Saved searches will automatically update with new sales statuses

Your saved searches in Paragon will be automatically updated to reflect the new sales statuses when they’re added to the MLS® in June.

How will my searches be updated?

Saved searches that include “Active” will be updated to include both “Active” and “Active Under Contract”.

Saved searches that include “Sold”, will be updated to replace “Sold” with “Pending” and “Closed”.

To understand what these new statuses mean, check out our sales status FAQ.

What do I have to do?

While your saved searches will be automatically updated, we recommend you review your saved searches to ensure they’re accurate and align with your clients’ needs and expectations.

You can also edit your saved searches after launch to narrow them to only include the new statuses you want – for example, if your search for Active listings now returns both Active and Active Under Contract, you can edit it to only return Active.

Client-centric updates

Searches linked to your clients will be updated with the new statuses ensuring they receive up-to-date information. Search results will continue to be sent to your clients via email and Collaboration Centre.

Clients using Collaboration Centre may notice an increase in notifications due to the expanded range of status values. Active will also include Active Under Contract listings, and Sold will be replaced with Pending and Closed.

If your client has opted to receive a notification when a status changes, then they will receive a notification when status changes to Active Under Contract, Pending, or Closed. With additional status changes triggering notifications, clients will be able to stay better informed regarding their saved searches.

For clients entering searches directly into the Collaboration Centre, the system will automatically adjust searches to include both Active and Active Under Contract. 

Contact the GVR if you have any questions.

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Inventory reaches highest level since the pandemic summer of 2020

VANCOUVER, BC – May 2, 2024 – Actively listed homes for sale on the MLS® in Metro Vancouver1 continued climbing in April, up 42 per cent year-over-year, breaching the 12,000 mark, a number not seen in the region since the summer of 2020.

Greater Vancouver REALTORS® (GVR)2 reports that residential sales3 in the region totalled 2,831 in April 2024, a 3.3 per cent increase from the 2,741 sales recorded in April 2023. This was 12.2 per cent below the 10-year seasonal average (3,223).

There were 7,092 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2024. This represents a 64.7 per cent increase compared to the 4,307 properties listed in April 2023.

This was 25.8 per cent above the 10-year seasonal average (5,637).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,491, a 42.1 per cent increase compared to April 2023 (8,790).

This is 16.7 per cent above the 10-year seasonal average (10,704).

GVR Stats Package for April 2024

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Modest increase in April home sales in the Fraser Valley takes lead from cooler spring weather

SURREY, BC – Supply of available homes in the Fraser Valley market continued to build last month, however buyers remained relatively hesitant, leading to a cooler resale market in April. The Fraser Valley Real Estate Board recorded 1,471 transactions on its Multiple Listings Service® (MLS®) in April, up 5 per cent from March, but off by 5 per cent compared to April 2023. While sales were the third lowest recorded for an April in the last decade, inventory continues to build, reaching levels not seen since September 2020. Active listings were 7,313, up by 18 per cent over last month and 17 per cent above the 10-year average.

FVREB Stats Package for April 2024

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Federal Government Unveils Housing Plans, Releases 2024 Budget

Throughout the month of April, the federal government made several announcements regarding housing in Canada and introduced the 2024 Budget.

The Canadian Real Estate Association (CREA) is conducting ongoing analyses of these policies to understand both the impact to REALTORS® and the Canadian housing and real estate market.

Here are a few of the important things REALTORS® should know about what’s been announced.

Canada’s Housing Plan

On Friday, April 12, 2024, the federal government announced Canada’s Housing Plan, the first articulation of a “systems” approach to housing and home building – through skills, financing, home building methods, reducing approval barriers, and infrastructure tied to housing.

It’s an ambitious plan that acknowledges and aims to address housing affordability and supply across the continuum, something REALTORS® have been encouraging for years.

“Canada’s housing challenges have been building over many years and no one group can tackle it on their own. REALTORS® across Canada have been advocating for a collaborative, multi-faceted approach for years. We’re ready to play our part,” said Janice Myers, CREA’s CEO, following the announcement.

For nearly 40 years, CREA has engaged elected officials and government to discuss solutions and make recommendations on behalf of REALTORS®. We’re pleased to see Canada’s Housing Plan reflects many of the recommendations we’ve put forth over the years to help address the challenges and needs facing Canadian property buyers, sellers, and renters.

The government proposes to increase housing supply by:

  • Introducing an Accelerated Capital Cost Allowance for apartments.

  • Expanding the removal of federal taxes (GST) for rental housing.

  • Increasing the annual limit for Canada Mortgage Bonds.

  • Providing low-cost loans to build apartments for the middle-class.

  • Making the Apartment Construction Loan Program easier and faster to use.

  • Launching Canada Builds, a team Canada approach to building affordable homes for the middle class, including on under-utilized public lands across the country.

  • Building homes on top of shops and businesses.

  • Launching a Historic Public Lands for Homes Plan.

  • Modernizing housing data.

  • Offering low-cost financing for homeowners to add additional suites.

  • Further incentivizing density to existing homes.

  • Investing in Indigenous housing and infrastructure.

  • Supporting Indigenous people living away from their communities in urban, rural, and Northern areas.

  • Helping municipalities legalize housing and streamline approvals.

  • Attaching housing conditions on public transit funding.

  • Building the necessary infrastructure to support growing communities.

  • Leveraging the Canada Infrastructure Bank.

  • Implementing an industrial strategy for home building.

  • Introducing a standardized housing design catalogue.

  • Scaling up new tech to build new homes.

  • Investing in new approaches to home building.

  • Providing low-cost loans to prefabricated housing projects.

  • Simplifying the way Canada builds homes.

  • Making building codes digital.

  • Training the next generation of skilled trades workers.

  • Improving labour mobility to connect more people to opportunity.

The government proposes to make it easier for Canadians to rent or buy a home by: 

  • Launching a Tenant Protection Fund.

  • Creating a new Canadian Renters’ Bill of Rights.

  • Leveraging rental payment history to improve credit scores.

  • Extending mortgage amortizations for first-time buyers buying newly built homes.

  • Strengthening the Canadian Mortgage Charter.

  • Leveraging the Tax-Free First Home Savings Account.

  • Increasing the Home Buyers’ Plan withdrawal limit.

  • Extending the grace period to repay Home Buyers’ Plan withdrawals.

  • Making home cheaper to heat, and easier on the environment.

  • Helping municipalities enforce regulations limiting short-term rentals.

  • Removing tax deductions for certain short-term rental operators.

  • Extending the ban on foreign home buyers.

  • Combatting mortgage fraud.

  • Cracking down on real estate fraud.

  • Confronting the financialization of housing.

The government proposes to help Canadians who can’t afford a home by: 

  • Providing $1 billion for the Affordable Housing Fund to build affordable homes.

  • Launching a new Rapid Housing Stream.

  • Making the Affordable Housing Fund easier to use.

  • Launching a $1.5-billion Canada Rental Protection Fund.

  • Launching a new Co-operative Housing Development program.

  • Keeping non-profit and co-op homes affordable.

  • Introducing more supports to address homelessness.

  • Reducing homelessness faster.

  • Addressing encampments and unsheltered homelessness.

  • Ending homelessness for veterans in Canada.

  • Sheltering asylum claimants.

  • Funding culturally relevant services, shelter, and transitional housing.

2024 Budget

On Tuesday April 16, 2024, Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, tabled the fourth budget of the 44th parliamentary session, Fairness for Every Generation, a budget they say is heavily focused on building “a Canada that works better for you, where you can get ahead, where your hard work pays off, where you can buy a home—where you have a fair chance at a good middle class life.”

The majority of the housing measures reflected in Budget 2024 were announced prior to the introduction of the budget, accumulating in the Canada’s Housing Plan announcement.

These are the new housing related measures announced in Budget 2024:

  • The government will consider introducing a new tax on residentially zoned vacant land and will launch consultations later this year.

  • The government intends to increase the inclusion rate on capital gains realized annually above $250,000 by individuals and on all capital gains by corporations and trusts from one-half to two-thirds, by amending the Income Tax Act, effective June 25, 2024.

  • The government intends to establish a subsidiary of the Canada Mortgage and Housing Corporation (CMHC) to deliver flood reinsurance.

  • The government intends to restrict the purchase and acquisition of existing single-family homes by very large corporate investors. The government will consult in the coming months and provide further details in the 2024 Fall Economic Statement.

  • The government is exploring new measures to expand access to alternative financing products, like halal mortgages.

Capital Gains

While CREA applauds the federal government’s “all hands on deck” approach to tackling Canada’s housing crisis, there are potential concerns with the proposed changes to the capital gains inclusion rate. Over the coming weeks, CREA will be actively analyzing the implications of these announced measures.

We’re particularly interested in its potential impact on REALTORS®, their clients, and housing supply. To this end our Economics team is undertaking data analysis; our Government Relations team is engaged in stakeholder outreach with both internal and external groups; and we’ll be fielding a member survey to gather feedback from a representative sample of REALTORS®. This approach will ensure our understanding is thorough, and any subsequent actions are well-informed and effective.

In addition, the latest budget explicitly restated the exemption for capital gains from the sale on principal residences has been maintained. We will vigorously hold the government to this commitment.

Further information about these points will be communicated as it becomes available.

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What will the home sale workflow look like with the new sales statuses?

Sales statuses for listings on the MLS® will look completely different starting in June, adding more transparency for REALTORS®, and their clients looking to buy or sell a home.

The new status structure will include three new statuses:

  • Active Under Contract – This optional status will be used when a listing has an accepted offer with subjects on it. If your brokerage has permitted use of this status, and you have the Agent Modify ability, you can change to this status on your own. Note – you’ll also need the seller’s permission to use this status. This can be added to the schedule A.

  • Pending – Replacing the current “Sold” status, this status will be applied to listings that have an accepted subject-free offer, or once all subjects are removed.

  • Closed – Listings will automatically move to this status at the end of their completion date.

What the home-sale transaction process will look like

With these new statuses, listings will look a little different in both Paragon and on real estate listings sites like Realtor.ca and Realtylink.org.

The new sales status tree will look like this:

  1. Active

  2. Active Under Contract

  3. Pending

  4. Closed

  5. Expired

Active and Active Under Contract

All listings will start as “Active”, which means the listing is available.

If the seller accepts a conditional offer, the listing will then move to “Active Under Contract” if the listing Realtor’s office allows the use of this status, and the seller has provided instruction to do so.

If the seller accepts an unconditional offer, or the subjects on a conditional offer are removed, the sales status will move to the next phase.

Pending and Closed

There will no longer be a “Sold” status. Instead, “Sold” will be divided into two new statuses – “Pending” and “Closed”.

Once subjects are removed, or an offer without subjects is accepted, the status will move to “Pending.” The listing will then move to the “Closed” status on the completion date.

In most cases, this will be the end of the transaction cycle.

Expired

Sometimes sales collapse after an accepted offer.

If it collapses before the listing’s expiry date, the status will move back to “Active”.

If it’s after the expiry date, the status will move to the “Expired” status.

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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.