A for sale sign is displayed outside a home in Toronto. On Jan. 3, the new ‘cooperation policy’ formulated by CREA came into effect, forcing any realtor to add an exclusive listing to the MLS within three days of doing any public marketing.CARLOS OSORIO/Reuters
This year, Canadians will see the effective end of the so-called “exclusive” real estate listing amid a crackdown on the sales tactic by the Canadian Real Estate Association (CREA). But some realtors are asking whether it truly is the end of the exclusive, or just the opening salvo in a bigger fight over organized real estate.
“CREA is being protective for no valid reason,” said real estate lawyer and registered realtor Mark Morris with Legalclosing.ca Professional Corporation. “They are over-stepping their bounds in a significant way. … What we’re doing now is limiting what they [sellers and buyers] can do in the free market.”
At issue is a method of selling a home that has become more common in recent years. These “exclusive” listings, sometimes also called “pocket” or “off-market” listings, are properties put up for sale but not entered on the Multiple Listings Service. Local real estate boards rely on the MLS to share both broker-only information among members and to publish public data on the realtor.ca national website.
On Jan. 3, the new “cooperation policy” formulated by CREA came into effect, forcing any realtor to add an exclusive listing to the MLS within three days of doing any public marketing. Marketing would include everything from a “Coming Soon” sign on a lawn to Instagram posts about a new property.
The vast majority of residential real estate transactions in Canada involve MLS, but there are significant exceptions. Most commercial properties are not listed for sale on MLS, and large chunks of the market for trading in preconstruction contracts for condominium apartments are not found on MLS either. The recent proliferation of websites providing sold-price data, sourced from MLS, has driven more sellers and buyers to attempt to keep their transactions private through the use of exclusive listings.
“Ninety-nine per cent of the time things are happening on MLS, but [exclusives] have always been around,” said Andre Kutyan, broker with Harvey Kalles Real Estate Ltd. The type of client he often sees wanting to go exclusive is a celebrity or business leader, but in recent years he’s seen more agents claiming to do more exclusive deals, too. Verifying those claims can be difficult when there’s no record of a transaction. “There’s a lot of agents who say. ‘Most of my deals are exclusive.’ They try to create the perception they are doing a lot off the books, but there’s no way to tell.”
There are private groups on messenger services on Whatsapp and Signal with hundreds of agents looking to flog or buy an off-market home, and there are even web services that have formed a sort of alternative to the existing MLS to provide a platform for these exclusives.
In 2021, entrepreneur and former realtor Eric Skicki created his own marketplace for non-MLS real estate called BrokerPocket and says he now has 7,000 users of his service (which is not accessible to the general public). Right now, there are about 700 listings on his site, a mix of preconstruction condos and residential real estate listings.
“We’ve become the most successful non-organized real estate platform that doesn’t belong to an association,” said Mr. Skicki. He said the CREA policy, “has significant challenges and should be reconsidered,” and that he hears from his members that many are not happy with the new rule. For now, BrokerPocket will allow users to post exclusive listings if they affirm they are not a members of a board.
Adam Weiner, a salesperson with Harvey Kalles Real Estate Ltd., does a lot of “exclusive” advertising on his social media channels and says that while he’s still able to sell a home off-market the rule will cause him to market it differently.
“I think what I’ll do I’ll mention we have stuff in the pipeline, but I’m not going to be specific, because we aren’t allowed to,” he said.
It’s not clear yet how boards will enforce the new rule.
“Toronto Regional Real Estate Board (TRREB) Members adhere to CREA’s realtor code, and the new cooperation policy is a part of the realtor code,” said Paul Baron, TRREB president, in a statement. “A process is also in place to ensure TRREB member realtors adhere to the related policies, including all forms of public marketing that don’t meet the CREA exceptions.”
Mr. Morris warns that some boards may be draconian in attempting to enforce the new rule, which could further undermine support for organized real estate.
“What is actually going on here is that MLS and the boards have been terrible at addressing people’s actual needs; they’ve not provided for a system that allows for exclusive listings and not provided for a system for assignments,” he said. “Cooperation is a choice and the seller should have that choice.”
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
In the quest to find cities where renters can enjoy the best of all worlds, a recent study analyzed 24 metrics across three key categories—Housing & Economy, Quality of Life, and Community. The study ranked the 100 largest cities in Canada to determine which ones offer the most to their renters.
Here are the top 10 cities that emerged as the best for renters in 2024:
St. John’s, NL
St. John’s, Newfoundland and Labrador, stand out as the top city for renters in Canada for 2024. Known for its vibrant cultural scene, stunning natural beauty, and welcoming community, St. John’s offers an exceptional quality of life. The city boasts affordable housing, a robust economy, and low unemployment rates, making it an attractive option for those seeking a balanced and enriching living experience. Its rich history, picturesque harbour, and dynamic arts scene further enhance its appeal, ensuring that renters can enjoy both comfort and excitement in this charming coastal city.
Sherbrooke, QC
Sherbrooke, Quebec, emerges as a leading city for renters in Canada for 2024, offering a blend of affordability and quality of life. Nestled in the heart of the Eastern Townships, Sherbrooke is known for its picturesque landscapes, vibrant cultural scene, and strong community spirit. The city provides affordable rental options, low living costs, and a thriving local economy, making it an ideal destination for those seeking both comfort and economic stability. With its rich history, numerous parks, and dynamic arts and education sectors, Sherbrooke presents an inviting environment for renters looking for a well-rounded lifestyle.
Québec City, QC
Québec City, the capital of Quebec, stands out as a premier destination for renters in Canada for 2024. Known for its rich history, stunning architecture, and vibrant cultural heritage, this city offers an exceptional quality of life. Renters benefit from affordable housing, excellent public services, and a robust economy. The city’s charming streets, historic sites, and diverse culinary scene provide a unique living experience. With top-notch education institutions, numerous parks, and a strong sense of community, Québec City is an ideal choice for those seeking a dynamic and fulfilling lifestyle.
Trois-Rivières, QC
Trois-Rivières, nestled between Montreal and Quebec City, emerges as a top choice for renters in Canada. This historic city, known for its picturesque riverside views and rich cultural scene, offers an appealing blend of affordability and quality of life. Renters in Trois-Rivières enjoy reasonable housing costs, a low unemployment rate, and a vibrant community atmosphere. The city’s well-preserved historic sites, bustling arts community, and excellent educational institutions make it an attractive destination for those seeking a balanced and enriching lifestyle.
Saguenay, QC
Saguenay, located in the stunning Saguenay–Lac-Saint-Jean region of Quebec, is a prime destination for renters seeking affordable living amidst breathtaking natural beauty. Known for its picturesque fjords and vibrant cultural scene, Saguenay offers residents a high quality of life with lower housing costs compared to major urban centers. The city boasts a strong sense of community, excellent recreational opportunities, and a growing economy. For those looking to combine affordability with a rich cultural and natural environment, Saguenay stands out as an ideal choice.
Granby, QC
Granby, nestled in the heart of Quebec’s Eastern Townships, offers renters a delightful blend of small-town charm and ample opportunities. Known for its beautiful parks, vibrant cultural scene, and family-friendly environment, Granby provides an exceptional quality of life. The city’s affordable housing market and strong sense of community make it an attractive option for those seeking a peaceful yet dynamic place to live. With its renowned zoo, bustling downtown, and numerous outdoor activities, Granby is a hidden gem that caters to a diverse range of lifestyles.
Fredericton, NB
Fredericton, the capital city of New Brunswick, offers renters a harmonious blend of historical charm and modern amenities. Known for its vibrant arts scene, beautiful riverfront, and welcoming community, Fredericton provides an excellent quality of life. The city boasts affordable housing options, scenic parks, and a strong educational presence with institutions like the University of New Brunswick. Its rich cultural heritage, coupled with a thriving local economy, makes Fredericton an attractive destination for those seeking a balanced and fulfilling lifestyle.
Saint John, NB
Saint John, New Brunswick’s largest city, is a coastal gem known for its stunning waterfront and rich heritage. Nestled on the Bay of Fundy, it offers renters an affordable cost of living with a unique blend of historic architecture and modern conveniences. The city’s vibrant uptown area is bustling with shops, restaurants, and cultural attractions, while its scenic parks and outdoor spaces provide ample opportunities for recreation. Saint John’s strong sense of community and economic growth make it an inviting place for those looking to enjoy both urban and natural beauty.
Saint-Hyacinthe, QC
Saint-Hyacinthe, located in the Montérégie region of Quebec, is a vibrant city known for its strong agricultural roots and innovative spirit. Often referred to as the “Agricultural Technopolis,” it is home to numerous research centers and educational institutions. Renters in Saint-Hyacinthe benefit from a high quality of life with access to excellent local amenities, including parks, cultural events, and a thriving local food scene. The city’s affordable housing and close-knit community atmosphere make it an attractive option for those seeking a balanced and enriching lifestyle.
Lévis, QC
Lévis, located on the southern shore of the St. Lawrence River across from Quebec City, offers a unique blend of historical charm and modern conveniences. Known for its picturesque views and well-preserved heritage sites, Lévis is a city where history meets contemporary living. Residents enjoy a high quality of life with excellent public services, green spaces, and cultural activities. The city’s affordable housing options and strong sense of community make it a desirable place for renters looking for both tranquility and easy access to urban amenities.
This category looked at factors such as average rent, housing costs, rental availability, and unemployment rates. Québec stood out with 10 cities ranking at the top, demonstrating strong economic stability and affordable housing options, which are critical for renters looking for cost-effective living conditions.
Québec again led the pack in this category, with five cities in the top 10. Ontario followed closely with three cities. British Columbia excelled in walkability, with four cities achieving the highest walk scores, while Caledon topped the list for its extensive green spaces. These factors contribute significantly to the overall quality of life, making these cities attractive for renters.
Victoria, BC, emerged as the leader in this category due to its rich array of restaurants, museums, and educational institutions, offering a vibrant community life. St. John’s, NL, and Vancouver, BC, also ranked highly. Québec City, QC, and Lévis, QC, scored the highest in life satisfaction, reflecting a strong sense of community and well-being. Additionally, Saskatoon, SK, and Oshawa, ON, were noted for having residents with lower stress levels.
For a comprehensive view of the rankings and detailed interactive visuals, you can visit the full study by Point2Homes.
While no city can provide a perfect living experience for every renter, the cities highlighted in this study come remarkably close by excelling in key areas such as housing affordability, quality of life, and community engagement. These findings offer valuable insights for renters seeking the best places to live in Canada in 2024.
