Data, data, and more data was the unofficial theme of this year's TREB Annual Meeting, held Tuesday, October 20 at the Allstream Centre, Exhibition Place. Despite the previous night's double whammy of elections and Blue Jays, the meeting was well attended. We hosted the fall meeting at this location to try and accommodate centrally located Members.
From the video highlighting TREB's successes during the past year to the results of Ipsos' Consumer Home Buying Intentions study conducted for TREB, Members received up-to-date information on the health of the Association and of the local industry.
President and CEO Highlights
During his first Annual Meeting as TREB President, Mark McLean told Members, "We need to keep the TREB brand strategically strong across all of our communication vehicles." The recent change to bringing our social media channels and public website under the TREBhome umbrella is a step in that direction. "TREB Wire, the new Association blog, will provide useful information for REALTORS®, homeowners, new and prospective Buyers, as well as real estate investors at any level," McLean stated.
CEO John DiMichele provided a brief update on the recent Competition Bureau re-hearings. "It is our individual duty as Members to uphold our industry's standards, and to engage in any discussions on residential and commercial real estate issues that may arise," said DiMichele. Re-hearings were held September 21 to 24 and October 5 to 8. Witnesses have given their testimony, and closing arguments will be wrapping up on November 7. TREB will provide additional information on the proceedings as it becomes available.
Ipsos Consumer Home Purchase Data
Special guest John Wright, Senior Vice President of Ipsos, presented TREB commissioned survey results on GTA "Consumer Home Purchase Intentions," including data on first-time home Buyers and the size of down payments. Moving forward, TREB plans on providing this type of data to Members on a regular basis.
- One-third (32%) of respondents are at least somewhat likely to purchase a home during the next year.
- Just under half (47%) of those who are likely to buy a home with the next 12 months will also be first-time home Buyers. The profile of these Buyers are young (18-34), single occupancy, and with an annual income of below $60,000.
- Of all those who plan to buy a home over the next year, 79% plan to use a REALTOR®. Two-thirds of homeowners also reported using REALTOR® services when buying their current home. The results suggest that more and more purchasers and homeowners may be recognizing the value of using a REALTOR®.
Ontario PC Leader Address
Patrick Brown, Leader of the Ontario Progressive Conservative Party, was also present and shared his plans for the province and real estate if he is elected Ontario's next premier. He praised the industry's stances on electronic signatures, mandatory home energy audits, affordable housing and the municipal land transfer tax, and is looking forward to the reintroduction of a bi-partisan bill dealing with personal real estate corporations. Brown recalled a recent discussion he had with a government chief minister in the state of Gujarat, India in regards to preconditions for economic development. Brown then elaborated on each of these areas – good roads, affordable power and reduction of red tape – and his vision for Ontario. "Any changes that are made should be done in consultation with you," said Brown. "We need to speak to the front lines about the changes that will affect their industry."
Awards, Recognition, Other
In addition, Members were recognized for their service and dedication to the Association:
- President's Plaque – Paul Etherington
- Honourary Life Award – Dianne Usher
- Awards of Recognition – Karen Gerrard, Rosalind Menary, and Shirley Porter.
Networking and professional opportunities were offered through the complimentary breakfast and lunch and a mini trade show featuring exhibitors from TREB's REALTOR® QUEST conference. Many congratulations to Mike Jahshan, Zolo Realty who won a free TREB membership for the 2016/2017 term through the TEXT and WIN contest.
Summary