CREA’s Annual General Meeting and T3 Summit
This year, a record number of REALTORS® put their names forward as candidates for the board of directors. Jason Stephen and Barb Sukkau were re-elected to their director roles; Stephen was named the board’s incoming Vice-President and Sukkau as President-Elect. Don Kottick and Ron Abraham were newly elected as directors-at-large. Darcy McLeod joins the board as regional director for the BC and Yukon, and Roy Milley returns to represent the Atlantic region. Andrew Peck officially took the reigns as CREA President and outlined his vision for the upcoming year. Thanks to outgoing President Cliff Iverson for his dedication during his term.
Delegates also celebrated several national award winners. Gord Archibald, EO at the Association of Regina REALTORS®, received the Association Executive Network (AEN) Award of Excellence, the Calgary Real Estate Board (CREB®) walked away with the Canadian Commercial Network (CCN) Merit Award, and Laura-Leah Shaw, of Vancouver, was honoured with the Canadian REALTORS Care® Award for her outstanding charitable work.
There were several proposed amendments put forward on CREA’s rules under Rule 2 and 3 regarding the clarification on the payment of dues, submissions of bylaws for new boards and associations, and clarification on the complaint process for boards and associations that are non-compliant with CREA’s membership rules. Delegates passed all of the amendments.
Following the AGM, many delegates attended the T3 Summit—a real estate leadership think tank—hosted by Stefan Swanepoel. Delegates had the opportunity to discuss new technologies affecting real estate and hear from thought leaders focused on innovation in the industry.
Take a look at all the moments from the AGM and T3 Summit on CREA's Facebook page.
Introducing REALTOR.ca Notifications
CREA is proud to introduce the launch of REALTOR.ca Notifications. This new feature is one of the top requests by consumers and will help REALTOR.ca remain Canada’s leading national website. Notifications is designed to make it easier for consumers to stay up to date on changes to favourite listings on REALTOR.ca.
How REALTOR.ca Notifications Will Benefit REALTORS®:
- Increased listing exposure: The new feature will increase exposure by driving traffic to REALTOR® listings.
- Track out-of-region listings: It also makes it easier for REALTORS® to keep track of new and changed listings outside of your board’s MLS® System boundaries. By using the same functionality as consumers, REALTORS® can favourite listings to easily identify price changes as well as create saved searches to identify new listings in areas where your clients are looking to buy.
- New leads through REALTOR.ca: Additionally, notifications for logged-in users make it easier for them to discover new properties. Keeping users informed and connected to REALTOR.ca will help drive more meaningful traffic to listings and ultimately generate more leads for you.
This new feature will allow individuals with REALTOR.ca accounts to opt in to receive email updates for price changes, new images and upcoming open houses on listings they have favourited. Users will not receive email notifications for new listings; these will only be visible to users upon log in to their REALTOR.ca account.
Laura-Leah Shaw Honoured with the Canadian REALTORS Care® Award 2017
Laura-Leah Shaw, of Vancouver, has been honoured with the Canadian REALTORS Care® Award 2017 Proudly Presented by REM for her outstanding charitable work.
Laura-Leah is the longest-serving volunteer for the REALTORS Care® Blanket Drive, which has helped more than 300,000 people in communities across the Lower Mainland of B.C. keep warm and dry during the winter months. Laura-Leah is a passionate animal rights advocate who has saved the lives of thousands of animals. Every week, she hand-delivers donations to people living in Vancouver’s poorest neighbourhoods.
“Laura-Leah Shaw is a relentless force for good in her community and a shining example of a REALTOR® making a difference,” said Ralph Fyfe, Chair of the Canadian REALTORS Care® Foundation. “Her commitment to helping others and working towards creating a cruelty-free world is truly inspiring.”
Learn more about Laura-Leah and how she is making a difference in her community:
In honour of Laura-Leah and her great work, the Canadian REALTORS Care® Foundation has donated $5,000 to Animal Justice Canada, one of her favourite charities.
Principal Residence Exemption
For the 70% of Canadians who own a home, it is a place to live, raise a family, and connects them to their community.
Due to Canada’s tax system’s Principal Residence Exemption, when we sell our homes, any increased value or “capital gains” are not taxed.
This tax break matters to Canadian homeowners. Collectively, we have about $3 trillion in home equity and our homes are often our largest financial asset.
However, starting with 2016 income tax returns, there are some changes in how homeowners qualify for the Principal Residence Exemption.
Until now, the Canada Revenue Agency has not required Canadians to report on a home sale during a tax season. However, if you sold your home in 2016 or later, you will need to complete a Schedule 3, Capital Gains of the T1 Income Tax and Benefit Return in order to report your sale.
The good news is that, in terms of taxes, nothing has changed. The same tax benefit is available to anyone who sells their home, provided the property was the principal residence for every year you owned it – even if you use part of your home for business purposes. There is no “new tax” involved, only a requirement you report the sale details on your tax returns.