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The calendar year is coming to a close, and MREB would like to wish its members, partners and other industry professionals a very safe and happy holiday season.

As we reflect on the news and events that helped shape 2014, we would like to offer Real Estate Update subscribers a look at the most-read news stories from their publication. Here are the Top 10 articles of the year!

Your regular news publication will resume on Monday January 5, 2015.




Mississauga Real Estate Board (MREB) elects 2015 Board of Directors
MREB
Thanks to a great interest in the Mississauga Real Estate Board, 10 Candidates presented their credentials to the Membership at the Board's Annual Election Meeting/Home & Trade Show held at the Mississauga Grand Banquet & Convention Centre, 35 Brunel Road, Mississauga on Wednesday, November 19, 2014.
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Unlock your earings and advancement potentials
MREB
MREB is proud to partner with REIC in offering REIC courses leading to the FRI designation. The courses delve into business best practices, provide context with interesting case studies and impart knowledge and skills students can apply to enhance their productivity.
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10. GTA's new home sales defy Mother Nature
Toronto Star
From April 28, 2014: What are the main ingredients for a good real estate market? Simple: you need the right product, in the right location, at the right price. Just-released figures from RealNet for the first quarter of 2014 show that the GTA continues to be a very good housing market. In the first three months of 2014, while we experienced one of the harshest winters in memory, unfazed house-hunters went forth and purchased 8,928 new homes from GTA builders, representing an estimated total value of $4.8 billion.
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9. House sales in GTA have best May ever
Toronto Star
From June 9, 2014: It was the best May ever for house sales across the GTA, and prices continued to climb — up 8.3 per cent on average from a year ago — in the face of fewer listings and ever-more-intense competition, according to figures released by the Toronto Real Estate Board. The average sale price across the GTA was $585,204, up from an average of $540,544 in May of 2013.
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8. Why it's easier to become a real estate agent than a hairstylist
Move Smartly
From May 26, 2014: Ever since Garry Marr published his article in the Financial Post titled "Canada's next housing bubble: real estate agents" there has been quite a bit of discussion both online and on the radio about the boom in the number of real estate agents. The GTA has nearly 40,000 real estate agents, twice as many as 10 years ago and 1 agent for every 140 people. So what's driving this boom?
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7. A real estate agent is not what you think
Toronto Star
From April 28, 2014: What's the difference between an agent, salesperson and broker? Let's start with the most commonly misused term, "agent." While most people use this term to describe the individual real estate professional assisting them, it's not technically correct. Legally, "agent" is actually the term given to the brokerage (the company) that represents you as the buyer or seller.
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6. Mississauga mansion goes on auction block — again
Toronto Star
From April 28, 2014: It's 18,000 square feet of French-inspired grandeur that just can't seem to sell. A Mississauga mansion at 2290 Saxony Ct. that supposedly sold last January for $6.2 million is back on the auction block. And this time it's sharing the stage with an upscale neighbour, a resort-like, 9,000 square-foot home on prime Doulton Dr. whose owner is looking for some quick action after eight months on the Multiple Listings Service without a bite.
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5. FSCO warns about unlicensed syndicated mortgages
Mortgage Broker News
From Sept. 29, 2014: FSCO has issued a warning to Canadians about unlicensed syndicated mortgages. "The Financial Services Commission of Ontario (FSCO) is warning consumers that it has received complaints about some websites promoting syndicated mortgage investments," an official release from FSCO states. "The businesses operating these specific websites are not licensed or registered to conduct this activity in Ontario."
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4. Agents on the hook for illegal in-law suites
Toronto Star
From Oct. 13, 2014: The Real Estate Council of Ontario (RECO), the body that licenses and governs real estate agents, is cracking down on representatives who advertise two-unit homes without making clear whether the second unit — usually a basement apartment — is legal. Many agents typically use wording such as, “Agents and seller do not warrant legal retrofit status of in-law suite.” Descriptions like this could disappear in the wake of two recent decisions of RECO discipline panels.
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3. Mississauga real estate agent wins $20 million lottery prize
The Brampton Guardian
From Oct. 27, 2014: Mississauga's Velauthan Vamadevan is $20 million richer after following a whim. The father of three, who has been playing the lottery for 20 years, won the $20 million jackpot from the Oct. 18 Lotto 6/49 draw. "I never expected it, I never thought I would win," said the 62-year-old real estate agent.
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2. Abuse survivor Asha Singh receives community service award
Mississauga.com
From May 26, 2014: There's a reason Asha Singh gives her free time to support organizations like Interim Place. She is an abuse survivor herself. Twenty-six years ago, just months into her career as a realtor, Singh found herself living in the Peel women's shelter with her two daughters. "The irony was, I was selling homes to people, but I was staying in a shelter with my daughters, and nobody knew that," said Singh, who now works for Royal LePage.
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1. New realtor agreements aim to clear up confusion for homebuyers
Global News
From June 23, 2014: Those in the market for a new home are being warned to anticipate some extra paperwork. Soon, anyone using a realtor to search for homes will have to sign a written contract outlining responsibilities, a timeline and who pays fees. The hope is it will help eliminate any confusion caused by verbal agreements.
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Real Estate Update
Frank Humada, Director of Publishing, 289.695.5422
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Joanne Lam, Content Editor, 289.695.5474   
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