RECOrd F O R T H E PUBLISHED BY THE REAL ESTATE COUNCIL OF ONTARIO SUMMER 2013 RECO S NEW CONTINUING EDUCATION PROGRAM Take a visual tour Understand your renewal requirements Learn about the consultation process A MESSAGE FROM RECO S NEW CHAIR
MESSAGE FROM THE CHAIR RECO BOARD OF DIRECTORS By Glenda Brindle While it s only been three years since I first held the role of Chair at the Real Estate Council of Ontario (RECO), much has changed since that time. RECO has kept pace with the technological advances that have transformed our industry with a new online mandatory continuing education program, which will launch on August 1, 2013. As an industry that is constantly growing and evolving, it s critical to stay well-informed about new trends, resources and regulations. The new program will help us, Ontario s real estate professionals, maintain the necessary skills and knowledge we need to provide the best possible service to our clients. During my time on RECO s Board of Directors, I have thoroughly enjoyed meeting and speaking with other registrants from across the province. RECO s Annual General Meeting (AGM) on June 20 was an especially valuable event that gave real estate professionals an opportunity to hear about RECO s initiatives and ask questions directly to staff and Directors. For those who couldn t attend in person, a live web stream was offered, and the remarks along with a video of the meeting are now available on RECO s website (www.reco.on.ca). The AGM was also a time for us to say goodbye to departing Directors Cynthia Lai and Larry Bremner. On behalf of the Board of Directors, I would like to thank Cynthia and Larry for their many years of dedicated service. I would also like to extend a warm welcome to the newly-installed Directors: Howard Drukarsh, newlyelected in region 1, Peter Hoffman, re-elected in region 2 and Jody Lavoie, re-elected in region 3. The past year has been a busy one for RECO with renewed engagement with registrants as well as a multi-faceted awareness program for consumers. While these two outreach efforts may not seem related, the message is the same in both cases: a regulated real estate environment is beneficial for all Ontarians. The outreach work completed in the past year has laid a strong foundation for continued engagement with both registrants and Ontario s home buyers and sellers. Building on the existing awareness levels will certainly be a priority for the year ahead. I would like to thank my fellow Directors for electing me to lead the Board; it s truly an honour and a privilege. I look forward to the exciting and busy year ahead and the additional opportunities to interact with Ontario s real estate professionals. 2 SUMMER 2013
New Mission and Vision Guide RECO s Future At its Annual General Meeting in June, RECO introduced bold new mission and vision statements. The mission, vision and value statements guide RECO in the goals we set and the way we work to achieve them, says Glenda Brindle, chair of RECO s Board of Directors. They give us purpose and focus. RECO s Board of Directors developed the statements while building RECO s 2013-2018 strategic plan, which involved gathering input from internal and external stakeholders. Their thoughtful input helped us ensure that the statements accurately reflect RECO s role and aspirations today, and for the future, says Brindle. Mission: Excellence in the delivery of regulatory services that protect the public interest and enhance consumer confidence in the real estate profession. Vision: Public trust and confidence in Ontario s real estate profession. Values: Fairness: Act impartially and equitably Accountable: Administer the Real Estate and Business Brokers Act, 2002 competently in accordance with the law Integrity: Be truthful and trustworthy Respect: Treat all with courtesy 3 SUMMER 2013
CONSULTATION FOR RECO S NEW CONTINUING EDUCATION PROGRAM 5,314 REGISTRANTS INVITED TO COMPLETE SURVEY ON EDUCATION 1,997 PERMANENT SALESPEOPLE 1,995 PROVISIONAL SALESPEOPLE 1,210 BROKERS OF RECORD 112 NEW BROKERS 2,419 registrants from across the province invited to focus groups SUDBURY ALL real estate boards invited to focus groups OTTAWA ALL approved education providers invited to focus groups LONDON TORONTO FEEDBACK amake the material practical for day-to-day work aincrease the focus on ethics and professionalism akeep course content up-to-date with emerging trends Leverage technology 60% PREFER ONLINE LEARNING aregistrants needs vary: make the program more flexible amake it more convenient to learn aprovide checklists and support tools 4 SUMMER 2013
EDUCATION CORNER A VISUAL TOUR OF THE NEW MANDATORY CONTINUING EDUCATION PROGRAM Log into MyWeb (https://myweb.reco.on.ca) and you ll see a purple button that leads to the program. Don t Have a MyWeb Account? Visit MyWeb and click on Sign Up. Fill in the required fields. You will receive an email that will ask you to click on a link to validate your information. If you have previously created an account, but do not remember your password, please visit MyWeb and click on Forgot Your Password? Before you can begin the program you must make a $44 payment. The $44 fee covers access to all course content. 5 SUMMER 2013
On the welcome page you ll be able to choose which course to take. Before proceeding with the other courses you must complete an initial Navigation Course that will teach you how to navigate the program. Your MyWeb profile will track your progress as you complete courses. 6 SUMMER 2013
Course content will go far beyond basic text, to include audio, voiceover and visual content, interactive elements and real-world scenarios to help you absorb the information. Quizzes will provide instant feedback so you can confirm that you understand the material. For those who learn better by listening, the text in the right column is available with voiceover. 7 SUMMER 2013
UNDERSTANDING YOUR CONTINUING EDUCATION REQUIREMENTS Q) I am renewing my registration in January 2014. How can I meet my mandatory continuing education requirement? Do I have to take the new online program? A) RECO will introduce the new mandatory continuing education program on August 1, 2013. However, the original program will run in parallel until July 31, 2015. For your next renewal, you can choose to renew under either the new program or the original program. NEW PROGRAM If you choose to renew under the new program, you must complete either the Commercial or the Residential Update Course, along with two electives. See Education Corner on page 5 for a visual tour that shows how to sign up and use the online program. You cannot use carry-forward credits if you renew under the new program. When you renew, fill out the new Declaration of Continuing Education Form and complete sections A and B. ORIGINAL PROGRAM If you choose to renew under the original program, you must complete an Update Course along with 18 elective credits obtained through third-party education providers. Before August 1, 2013, the RECO Update Course will be offered by the Ontario Real Estate Association (OREA). Effective August 1, 2013, the Update Course will be offered online through, with a residential and a commercial option. Either course can be used to renew. If you are taking the Update Course through RECO, see Education Corner on page 5 for a visual tour that shows how to sign up and use the online program. When you renew, fill out the new Declaration of Continuing Education Form and complete sections A and C. Do you have questions about the new mandatory continuing education program? Contact RECO s Education Department at education@reco.on.ca or call 1-855-200-4884. Elective courses available at launch Social Media for Real Estate Professionals RECO Insurance Program: A Partner in Protection Environmental Site Assessments Business Analysis 8 SUMMER 2013
ASK THE REGISTRAR Q: I read that the Ontario budget included a change regarding electronic signatures. Can I begin completing Agreements of Purchase and Sale electronically? A: The 2013 Ontario budget contained an amendment to the Electronic Commerce Act, 2000 (ECA) that would remove any uncertainty about the use of electronic signatures on Agreements of Purchase and Sale. However, the amendment has not yet been proclaimed into law, so the existing rules regarding electronic signatures continue to be in force. When, and if, the amendment to the ECA is proclaimed, RECO will inform registrants via e-mail. In the meantime, registrants must ensure they comply with the current laws, which are explained in the Registrar s Bulletin Use of electronic signatures on RECO s website (www.reco.on.ca). 9 SUMMER 2013
ASK THE REGISTRAR INSURANCE UPDATE Your insurance renewal premium of $400 is due by August 16, 2013. Payments can be made online using a Visa or MasterCard by logging in to your MyWeb (https://myweb.reco. on.ca) account. RECO does not accept payments by phone. After August 16, 2013, registrants are required to pay an additional $35 for expenses related to administration of the suspension process, in addition to the insurance renewal premium. The total insurance payment after August 16, 2013 is $435. Non-payment of insurance amounts will result in the suspension of registration effective 12:01 a.m. on September 1, 2013 as required by the Real Estate and Business Brokers Act, 2002 (REBBA 2002). If you are planning on retiring or leaving the business, make sure you terminate your registration prior to August 2, 2013 to avoid the suspension process. You have two options for completing your termination: Have your Broker of Record or Branch Manager complete the termination process for you on MyWeb; or Send a completed Notice of Change: Termination form and a copy of your resignation letter to RECO s Registration Department. RECO encourages you to make your insurance payment well in advance of the payment deadline. For more information on the insurance program please visit RECO s website or MyWeb. 10 SUMMER 2013
BROKER OF RECORD CORNER OBTAIN CLIENT CONSENT BEFORE SHARING LISTING INFORMATION WITH THIRD PARTIES The Canadian Real Estate Association (CREA) has launched the Data Distribution Facility (DDF) to facilitate the distribution of MLS listings to third-party websites. DDF is a permission-based service that allows real estate professionals to distribute and share their listings for maximum online exposure. For those that opt-in to the service, the content will come directly from MLS, ensuring the listing details are accurate and up-to-date. Before distributing listing information through the DDF, or independently to other third-party providers, it s important to obtain your client s permission in writing to advertise in this manner. This ensures your client is aware of and agrees to their home being marketed through third-party websites. For more details about the DDF, please visit www.crea.ca. Real Estate Council of Ontario 3300 Bloor Street West Suite 1200, West Tower Toronto, Ontario M8X 2X2 Tel: 416-207-4800 Toll-Free: 1-800-245-6910 Fax: 416-207-4820 Do you have any comments or inquires about For the RECOrd newsletter? Please send them to: communications@reco.on.ca Disclaimer: While RECO makes every effort to ensure that the information in this publication is current and accurate, RECO does not warrant or guarantee that it will be free of errors. The information contained in this publication is not intended to cover all situations. It is general information only and users/readers are encouraged to seek their own independent advice for particular fact situations.