1 / 54

EREB – Co-operative Listing Bureau

To insert your company logo on this slide From the Insert Menu Select “Picture” Locate your logo file Click OK To resize the logo Click anywhere inside the logo. The boxes that appear outside the logo are known as “resize handles.” Use these to resize the object.

mimis
Download Presentation

EREB – Co-operative Listing Bureau

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. To insert your company logo on this slide • From the Insert Menu • Select “Picture” • Locate your logo file • Click OK • To resize the logo • Click anywhere inside the logo. The boxes that appear outside the logo are known as “resize handles.” • Use these to resize the object. • If you hold down the shift key before using the resize handles, you will maintain the proportions of the object you wish to resize. EREB – Co-operative Listing Bureau Barbara Grodaes Edmonton Real Estate Board “Services for Success” Edmonton Real Estate Board

  2. Welcome New Realtors! • EREB provides services designed by members to help members be successful • All members considered part of same industry so network with each other and learn from each other • Get involved and contribute to making EREB practical and relevant to need Edmonton Real Estate Board

  3. EREB Philosophy • “Members serving members” • Serve each other • Understand services available • Understand how services aid you • Understand how to use services • Understand what you can do! Edmonton Real Estate Board

  4. Communication Process • Members identify needs • Committee review and recommend • Board of Directors • President • Executive V.P. • EREB Staff • Members use services Edmonton Real Estate Board

  5. Board of Directors • 4 broker members • 4 agent/manager members • 1 immediate past president Board of Directors play a significant role in shaping the future of the EREB Edmonton Real Estate Board

  6. Six Committees • Government and Political Action • Arbitration and Professional Standards • Audit • Commercial Division • Members Services • Technology Edmonton Real Estate Board

  7. Trademarks • Consistent use of the logo and trademarks help to maintain the unique identity and distinctiveness • 3 types of trademarks • REALTOR • MLS® • EREB Edmonton Real Estate Board

  8. Trademarks Limitations • Membership • Real Estate Business • Geographic • Form of Use • Punctuation • Context of use Edmonton Real Estate Board

  9. Use Restricted • Authorized Use (adherence to By-laws and Code of Ethics • Licensing Requirements • Members in good standing CREA • Members in good standing local board • Rules for Use • Proper Use • Maintain unique identity Edmonton Real Estate Board

  10. Miscellaneous Information • Major Annual Events • Economic Forecast Seminar (January) Annual Realtor’s Ball (February) Volunteer Appreciation Night (February) Golf Tournament (July) Family Picnic & Slo-Pitch Tourney (August) Christmas Luncheon/ERCF Auction (December) • Community Involvement • Realty Watch, Bright Nights – Festival of Lights Edmonton Real Estate Board

  11. Publications for Members • “Weekly Review” (newsletter Fridays) • EREB Bulletin Notices (online) • Brochures • EREB Member Handbook • News Release (statistics once/month) • The Regulator (quarterly) Edmonton Real Estate Board

  12. Rules & Regulations • Minimum listing period 60 days • Submit listing to Board within 48 hours • Use ONLY EREB contract forms • Written approval required when shortening expiry date or cancellation/termination of listing contract • Report all sales immediately Edmonton Real Estate Board

  13. Rules & Regulations Continued • Report sale of an expired, sold or cancelled listing within 10 days • $250 fine plus MLS® fee • Listing/Selling firm share MLS® fee • Listing brokerage responsible for payment of fees • Documents may be rejected • Listing restrictions (+24 hours) written Edmonton Real Estate Board

  14. MLS® Fees • Selling price less than $35,000 - $35 • Selling price between $35,000 and $120,000 - $ 0.1% of selling price • Selling Price over $120,000 - $120 maximum Edmonton Real Estate Board

  15. MLS® Deadlines • Monday 5pm Thursday OPEN • Tuesday 5pm Friday OPEN • Wednesday 5pm Monday OPEN • Thursday 5pm Tuesday OPEN • Friday 5pm Wednesday OPEN Edmonton Real Estate Board

  16. More Deadlines • Online Bulletin daily 5pm • Catalogue Wednesday 5pm • Photos for catalogue Thursday 11am • Catalogue ordering Thursday 11am • Internet (5 working days) • National IC & I Catalogue – month 25 Edmonton Real Estate Board

  17. Inquiry 453-9304 • Reporting sales • Pending sales • Realtor open house • Which listing forms or contracts to use • Corrections to the data entry errors • Inquiries re: changes to listings/sales/ etc. Edmonton Real Estate Board

  18. MLS® Internet Sites • www.mls.ca • www.AlbertaFirst.com • www.cls.ca • www.Realtorlink.org • IXN Edmonton Real Estate Board

  19. FREE Internet Ads • Members receive FREE advertising on MLS® Internet sites with each MLS® listing • FREE as long as it is submitted with the new listing • If ad not submitted with the new listing, it can be included with payment Edmonton Real Estate Board

  20. Internal Forms • Open House • Pending/Final Sale Report • Cancellation of reported sale Edmonton Real Estate Board

  21. Incomplete Listings • Blue squares on the Input form indicate information is MANDATORY • MANDATORY information must be provided – if not, flagged incomplete • Urgent fax sent to listing realtor and $25 fee charged each week incomplete • Ensure your flag is removed Edmonton Real Estate Board

  22. “NO Showings” • Any remarks which restrict the showings for more than a 24 hour period must be by an amendment signed by the seller • Not affected are no showings at certain times due to certain conditions Edmonton Real Estate Board

  23. REMEMBER • Listing ContractExtension/Amendment Agreement • Open House • Real Estate Listing ContractConditional Termination • Real Estate Listing ContractTermination Agreement Edmonton Real Estate Board

  24. MLS® Benefits Seller • Higher price – more demand • Quicker sale • Data for CMAs • Exposure anywhere • Motivate selling realtors • Reputation • Competitive pricing Edmonton Real Estate Board

  25. MLS® Benefits Buyer • Complete system access entire market • Get to choose agent • Current information • Isn’t forced into ‘dual agency’ situation • Price negotiation ability increased Edmonton Real Estate Board

  26. MLS® Benefits Agent • Learn markets in all areas • Find home to match buyer’s specifications • CMA ability and fast • Exposure through MLS • Choose agency • Level playing field Edmonton Real Estate Board

  27. MLS® Components • Forms • Catalogues • Aurora • Daily Bulletin ‘hot sheets’ • Weekly supplements Edmonton Real Estate Board

  28. Real Estate Weekly • 60,000 circulation • Boundaries Westlock, Alberta Beach, Wetaskiwin, Ardrossan • Sections • Agency • District • Classified • Open Houses Edmonton Real Estate Board

  29. Effective Ads • Simple and straight forward • Easy to understand • Provide facts • Tell why ‘this is the one’ • Hold attention and ‘talk to you’ • Honest and accurate • Describes features and benefits • Appeal to needs of people Edmonton Real Estate Board

  30. Top Readership Survey • Location • Price • MLS number • Effective photos showing clearly and omitting irrelevant details Edmonton Real Estate Board

  31. Advertising Formula • A Attention • I Interest • D Desire • A Action Edmonton Real Estate Board

  32. Costs for REW • Free to public • $25 per unit plus GST • $600 per full page plus GST • 20% discount to second and subsequent insertions of ad (no changes) Edmonton Real Estate Board

  33. Deadlines for REW • Monday 11am (includes agency, district, front & back page ads) • Friday 3pm Repeat AD • Monday 11am Open House • Thursday 5pm Back Page • Friday 11am Color Ads • 10 days prior – ads requesting proofs Edmonton Real Estate Board

  34. Don’t Forget • Print on Demand • Multiple products • Ready quickly • Guaranteed Edmonton Real Estate Board

  35. Electronic Key Control System • System referred to by various names including Advantage Express, Supra and KIM • Easy to show property • Keybox Information Manager • Access • Information and Reports Edmonton Real Estate Board

  36. Keybox Rules & Regulations • May be placed on a property ONLY with written permission of the seller • Must be indicated on the listing • EREB NOT responsible for any losses incurred by the owner or any damage to the property Edmonton Real Estate Board

  37. Do’s and Don’ts • DO use DURACELL batteries • DON’T use sharp objects • DON’T loan FOR ANY REASON • DON’T keep PIN code close • DON’T expose to heat/cold • DON’T leave in view in car • DO install on the door • DO use ‘CBS’ feature (call before showing) • DON’T mark or paint leased keyboxes • DON’T overfill key containers Edmonton Real Estate Board

  38. Assistance 453-9320 • Keybox won’t open • Updated? • Correct PIN? • Night-time lock-out? • Shackle can’t be removed • Correct Shackle code? • Rubber boot lifted? Edmonton Real Estate Board

  39. Open House Signs • 0.6m wide by 1.0m high • 4 lines (open house, arrow, company id and sales person) • Saturday, Sunday and Holiday Mondays – all day till 10pm • Weekdays – 4pm till 10pm • No more than 2 signs per intersection Edmonton Real Estate Board

  40. Locations of Signs • Not be located closer than 10m from an intersection on local roadway • Not be located closer than 15m from an intersection on arterial roadway • canNOT be placed on public sidewalks • canNOT be placed on center meridians • 1.5m from curb Edmonton Real Estate Board

  41. Arbitration and Ethics • Arbitration is a service provided to Members where there is dispute involving commissions • Deals only with issues related to money • Looked after by the Arbitration Committee Edmonton Real Estate Board

  42. Arbitration Process • Speak to Broker or manager • Broker/manager speaks to Broker/manager of other agent • If not resolved, the Broker may request either a Formal or Informal hearing Edmonton Real Estate Board

  43. Formal Arbitration • Several procedures to be followed • Involves members of the Arbitration & Professional Standards Committee • Usually takes 3 months for an outcome as there is a lot of paperwork involved Edmonton Real Estate Board

  44. Informal Arbitration • Simpler process – meeting arranged with 3 members of Arbitration committee, Member Services Manager, both brokers or managers, both agents • Discussion is held • Decision is immediate • Appeal is NOT possible, the decision is binding Edmonton Real Estate Board

  45. Ethics and Professional Business Standards • Agent raises concern with Broker • Broker talk to other Broker involved • If not resolved, letter to EREB • EREB obtains response from other side • Forwarded to Review Panel • Hearing is attended • Committee may discipline Members (dismiss, reprimand, correct, etc.) Edmonton Real Estate Board

  46. Just Sold Cards • Effective advertising tool • Rights of the listing broker under the listing contract to advertise the property • Advertising requires consent of current owner of the property (in writing) • Recommended timeframe as to when the activity took place be indicated Edmonton Real Estate Board

  47. Effective Cause of Sale • Commonly referred to as “threshold rights” • Ways to minimize the impact • Educate your Buyer to ensure that you accompany them to all showings, including open houses • Commit to a Buyer Agency Contract Edmonton Real Estate Board

  48. Presentation of Offers • Presented through the Seller’s brokerage • Call seller’s agent to arrange an appointment to present the offer • Do NOT DISCLOSE details of offer • Meet other realtor just prior to presentation • Present to Seller Edmonton Real Estate Board

  49. Multiple Offers • Upon receiving notice of multiple offers, seller’s agent should inform seller and all buyer’s agents • Buyer’s agents must notify buyers • Presented in order that is received • Presented with buyer’s agent present • Not discussed in front of other agent • May be countered and ‘backed up’ Edmonton Real Estate Board

  50. Principles of Competition • PROHIBITS • Price maintenance • Conspiracy • Refusal to deal with a competitor • Misleading advertising Edmonton Real Estate Board

More Related