Broker Update, December 15, 2023
Looking ahead to 2024 and beyond
With the holiday season around the corner, it is a good time to reflect on the past, be thankful for what we have, and prepare for the year ahead.
The past 12 months has been a challenging year in the market with high inflation and interest rates dampening activity.
At your Board, 2023 has been a productive and seminal year. We completed a series of initiatives that have paved the way for us to pursue an ambitious new strategic direction in 2024 and beyond. This direction will focus us on leading professionalism and innovation in real estate across Canada.
Here is a summary of some of the key work we completed over the last 12 months. It’s not an exhaustive list of what we accomplished in 2023, but an overview of the work we did on your behalf to pave the way for the year ahead.
While I am looking forward to the holiday season, I’m more excited about the year ahead. Stay tuned in early 2024 for announcements around our brand, data, new technology, products, and services as well as new measures targeting higher standards of professionalism.
We’re living in an exciting age of innovation and disruption, and our path forward will present challenges and opportunities for us to seize upon.
I appreciate your support and engagement this past year and I look forward to the navigating the next phase of this journey together.
I wish you and your families a safe and happy holiday season!
New Medallion portal - check your status today
We’re nearing the end of 2023, which means the deadline for reporting sales to count towards your Medallion Club status is coming up fast. To help you check your status, we've launched a new Medallion portal that reflects the new policies instituted earlier this year.
You can now access the new Medallion portal online at REBGV.ca under your profile.
The deadline for sales to count toward your 2023 Medallion total is December 31. Please review your sales to make sure they’re accurate. Only sales submitted before end of day on December 31 will be considered as part of your year-end Medallion total.
If you need to reconcile any sales, or update any discrepancies, please email sales@rebgv.org.
While the deadline for sales is the end of December, you can reconcile any sales until January 15, 2024.
Earlier this year, we updated our Medallion Club policies to help make the program fairer, and to align the definition of a Medallion team with the BC Financial Services Authority’s definition. Learn more here.
Everything you need to know about CREA’s REALTOR® Cooperation Policy
CREA’s Realtor Cooperation Policy goes into effect January 3, 2024. Starting that day, Realtors must place their residential listings on the MLS® System within three business days of public marketing, with some exceptions.
Our Rules of Cooperation will also update on January 3 to align with the Realtor Cooperation Policy. You can see what’s changing here.
Here are more resources to help you and the members in your office better understand, and prepare for, this change.
Will you take the pledge?
Some of REBGV's Board of Directors, and other REALTORS® across Greater Vancouver, are taking REBGV's Pledge of Professionalism.
Join the movement! Record your own video of you and the members in your office taking the pledge and post it using the hashtag #PledgeOfProfessionalism, and don't forget to tag us too!
This new pledge will be taken by new members at our Member Orientation courses and by all members each year at our Annual General Meeting. This is a small, but important step toward strengthening the culture of professionalism within the Realtor community.
Learn more about the pledge in Kim Spencer’s article, and watch his Top Tip video here.
Changes to member dues and fees in January 2024
To help your Board maintain a sound financial position within today’s inflationary environment and to invest in key strategic priorities going forward, certain member dues and fees will increase beginning January 1, 2024.
Most of the changes are cost-of-living adjustments that align with the inflationary trends measured by the Consumer Price Index for Metro Vancouver. The annual CPI increase in the region for 2023 was 5.9 per cent.
REBGV’s funding model accounts for incremental inflation that occurs over time, including regular, but modest, annual cost of living increases. This model is intended to help us avoid the more disruptive cycle of introducing larger fee increases after prolonged periods of no change.
These changes are the result of a careful review of the organization’s financial position and were recently approved by the Board of Directors. You can expect to see these adjustments reflected on your invoices in 2024.
Travelling for the holidays? Plan ahead to access REBGV services
As the holidays approach, keep in mind that some of our online services, including Paragon MLS®, are unavailable outside of North America.
Keeping certain services from being accessed outside of North America is a security best practice and is part of our commitment to prioritizing the security of our members.
We understand the importance of staying connected. If you anticipate needing access to services like Paragon MLS® while abroad, plan ahead with a colleague who may be able to assist you while you’re away.
This ensures you have a seamless and secure experience, whether you're visiting family abroad, or escaping Vancouver’s drizzly winter.
Safe travels!
REBGV’s upcoming holiday hours
Please note our upcoming holiday office closures. And again, on behalf of myself and all the staff at REBGV, we wish you and your families a safe and happy holiday season!
- Friday, December 15 – Closing at 3pm
- Friday, December 22 – Closing at 1pm
- Monday, December 25 – Closed
- Tuesday, December 26 – Closed
- Friday, December 29 – Closing at 1pm
- Monday, January 1 – Closed