“At the beginning of my term I made a commitment to involve more members in the many initiatives that TREB undertakes,” says TREB president Maureen O’Neill. “We simply couldn’t ask for better validation of these efforts than the OREA Volunteerism Award.”

TREB’s efforts to engage more members began with a communications audit that was undertaken in 2006. As a result of this study, a revamp of the communications portal on TorontoMLS is now underway, guided by input from a number of member focus groups. Member input has been sought in several other areas as well, such as TREB’s advertising, MLS rules and the development of commercial tools and content. It also resulted in more than 100 enhancements to the TorontoMLS system in 2008, the most significant of which was undertaken to safeguard MLS data.

Members have also been recruited to serve on new task forces such as the Green Task Force, whose work resulted in a LEED certification audit of the TREB building, an enhanced recycling program and four courses added to TREB’s slate of sessions offered to members on environmental topics.

Another task force was focused Quality of Life initiatives. As a result of its work, TREB made a long-term commitment to the Feeding Our Future children’s breakfast program operated in conjunction with the Toronto District School Board. Future initiatives were explored during a two-day Quality of Life Symposium at which TREB hosted representatives from associations and boards across Canada.

Holiday food and toy drives and the TREB/ThinkFood partnership, which since 2002 has resulted in 4,500 pounds of food donated to local food banks in exchange for empty ink jet cartridges, are some of the other ways members have pitched in.

To thank its volunteers, TREB hosts an annual luncheon for its committee and task force members. They are also entitled to attend a complimentary education seminar offered at TREB worth up to $100. As well, there are a number of different TREB awards to recognize those who give tirelessly. Recruitment is now underway for volunteers to serve during the 2009/2010 term.

Source: REM Online

“Now is not the time to be erecting barriers to homeownership,” says Pauline Aunger, president of OREA. “We need consumers to invest in housing to help get our economy going again.”

Under a harmonized sales tax (HST), homebuyers and sellers will have to pay extra tax on a range of services associated with real estate transactions such as legal fees, moving costs, real estate commissions and home inspection fees. Currently, consumers only pay the five per cent Goods and Services Tax (GST) on these services.

“These additional taxes could price some homebuyers, especially first-time homebuyers, right out of the market,” says Aunger. “Harmonizing will not help homebuyers in any way.”

For a resale house priced at $360,000, a HST could add over $2,000 in new taxes to closing costs. In total, a HST will add $313 million annually in new taxes to resale home transactions.

“In the last decade, Ontario’s homeowners have faced a barrage of new costs,” says Aunger. “From municipal land transfer taxes to sky rocketing property taxes, homeowners are being pushed to the brink to accommodate increasing demands from government. A harmonized sales tax is yet another cash grab on Ontario’s already overtaxed homeowners.”

Source: REM Online

Pauline Aunger

Smiths Falls and Perth Real Estate broker Pauline Aunger is the new president of the Ontario Real Estate Association (OREA). Active in the real estate profession for 31 years, Aunger is the broker of record with Royal LePage Pauline Aunger Real Estate, Brokerage. She is a member and past-president of the Rideau St. Lawrence Real Estate Board.

Dorothy Mason of Markham will serve as president-elect. Mason is a broker with Royal LePage Your Community Realty, and past-president of the Toronto Real Estate Board (TREB). OREA directors-at- large are Henry Poulie of Royal LePage Realty Plus in Mississauga; Barb Sukkau of Royal LePage Niagara Real Estate in St. Catharines; and Cassandra Agnew Walker of NRS Select in Richmond Hill.

Phil Nanavati of Martel Commercial Realty Burlington will continue as commercial director and Mike Carson of Royal LePage Triland Realty in London will serve as the director representing the association to CREA. Maureen O’Neill of Bosley Real Estate, the current president of TREB, will serve as substantial membership director. Gerry Weir of Sutton Group-Preferred Realty in London remains on the board as past-president.

Provincial directors representing different geographic areas are: for Eastern Ontario, Patricia Verge of Sutton Group – Preferred Realty in Ottawa; for Central Ontario, Deborah Khoury of Royal LePage Frank Real Estate in Whitby; and Ron Abraham of Prudential Lorimer Realty in King City; for Northern Ontario, Richard Leroux of Realty Networks in Timmins; for Western Ontario, Phil Dorner of Louis Parent Realty in Belle River; for Northeastern Ontario, Josephine Manna of Royal LePage Real Quest Realty in Orillia; and representing Southern Ontario, Mike Cusano of Re/Max Del Mar Realty in Stoney Creek.

Source: REM Online

• Be a resident of Canada
• Be at least 18 years of age
• Application for salesperson registration must be made within one year of successfully completing the last course in the pre-registration segment (Phase 3RES or Phase 3COM).
• Complete the required RECO forms
• Submit the appropriate fees
• Have a good past record of financial responsibility and conduct
• Have received a salesperson registration certificate
• Be employed by a registered brokerage
• Consider the recommended personal skills
• Meet the technical requirements

Source: OREA

Initial Costs…Ontario Real Estate Courses Fees

Phase 1 (From Start/Finish/Write your Exam, and receive your percentage marks…it will take you about 4 weeks total in all. One month of that is correspondence.)

$ 390.00

Phase 2 (From Start/Finish/Write your Exam, and receive your mark…it will take you about 6 weeks total in all)

$ 420.00

Phase 3 (Residential or Commercial (From Start/Finish/Write your Exam, and receive your mark…it will take you about 8 weeks total in all)

$ 620.00 each Residential or Commercial

***These three courses take approx. 3-4 months from start to completion

Courses Sub Total $ 1,430.00

Then…Real Estate Council of Ontario Fees

Submit with application to RECO for License

$ 250.00

The real estate council will review financial and criminal past history to be sure there is no reason to doubt the character of the individual applying for membership. Also, if the individual is employed in any other business activity where there could be a conflict of interest with their sales activities and that of the employer. The council will require the employer to give a letter of permission.

Upon acceptance by RECO, a pro-rated Errors & Omissions Insurance will be invoiced to you when you join.

$ 182.19

*** From applying to receiving your license, count on 2-3 weeks.

RECO License Sub Total $ 432.1

Lastly…Entrance/Initiation Fees & Dues

After receiving your License

When joining the Toronto Real Estate Board – TREB Entrance Fee

$ 460.00

Toronto Real Estate Board Dues

$616.80

Ontario Real Estate Association Initiation Fee (One time fee)

$ 200.00

Ontario Real Estate Association Dues (Pro-rated)

$110.00

Canadian Real Estate Association Initiation Fee (One time fee)

$ 200.00

Canadian Real Estate Association Dues (Pro-rated)

$ 110.00

*** THESE COSTS ALL TAKE PLACE IN ONE DAY!

Fees & Dues Sub Total $ 1,696.80

Grand Total of ALL above costs to become a realtor $ 3,558.99

(plus taxes) Note: Above costs are provided for general information purposes only, can change at anytime and are not controllable by Exit Realty Advisors.

Introduction

What is going to happen to the house or flat? For most people, their home is their single biggest asset as well as a place to live. When deciding what should be done about it, you need to weigh up both these things. You and any children you have will need two homes now, which is likely to be the most expensive aspect of your divorce too. You will need to think carefully about your own needs and, most particularly, about the needs of any children. You should give first consideration to where you are going to live (especially if you have children) and only then start thinking about your investment.

To sell or not to sell?

• You’re both working and you have no children;
• The house is very valuable and the mortgage payments would be greatly reduced or even non-existent if it was sold and one or two smaller houses were bought;
• You’re both going to live with other people;
• There would be enough money after the sale to buy one or two houses (with or without mortgages).

We’re happy with one of us continuing to live in the house but want to get something out of it when the children are grown up
This might be the case where you have children who still need a home but feel that once they are grown up the house should be should be sold and the proceeds divided. You will need to think about what your respective circumstances might be at the time of sale to make sure your agreement is fair.

Some questions you might ask yourselves are:

• Will the proposed division enable both of us to purchase new homes?
• Will it cause a lot of inequality (for example, leaving one of you in a much smaller house than the other)?
• What are our respective earnings likely to be?

Unless you have a crystal ball, this is going to be guess work. Do try to be as realistic as possible, starting from where you are now.

We’re happy for one of us to have the house
You might consider this in some of the following circumstances:

• There is little or no equity in the house;
• You have other assets and can achieve a ‘fair’ division without touching the equity;
• You want to do this in return for not having to pay maintenance to your husband/wife and/or for them having any claims on your pension etc.

Any other questions?
This article is intended to give an outline of possibilities only. If you need any further information you can either contact our Family Law specialist or you can purchase our e-book, which gives very detailed information on the kind of settlements possible, as well as helpful hints for negotiating with your partner or their solicitor and worked out examples of a variety of different cases.

Important note about your will
When you were married, your old will became void. This does not happen on divorce or separation. If you never had a will anyway, maybe it is time that you did. We provide a range of template will documents to suit everyone, with loads of advice and over thirty easy-to-read free information articles about aspects of wills and tax.