Posted by: cherylyoung | April 9, 2014

Victoria Real Estate Board, Do you send emails to your clients

Do you send emails to your clients?
Then you need to read this. 
New laws go into effect July 1, 2014.Do you know if your email is considered aCEM (Commercial Electronic Message) and ifyou comply with the new rules? Read here

for the summary, and for the detailed
rules visit this link.You need to know:

  • An email is considered a CEM if it promotes
  • an open house, property for sale, or
  • attempts to solicit a new client.
  • The CRTC will impose fines on those
  • that do not comply.
  • The CRTC takes anti-spam legislation
  • very seriously.

For more information on the rules and the

influence CREA had during the discussions,

visit this page.

What’s news?
FINTRAC – Regulatory lawyer and financial
crime and anti-money laundering specialist
Christine Duhaime wrote a great article this
week for REM on FINTRAC.Quick read:>A real estate transaction in Canada triggersthe filing of reports to FINTRAC by real estate

agents and banks. If the transaction involves

the importation of currency, it also involves

the Canada Border Services Agency (CBSA).

>Most reporting entities do not know what

a suspicious transaction is under the Proceeds

of Crime (Money Laundering) and Terrorist Financing

Act and as a result, they have a difficult time

justifying to FINTRAC on an audit why they did,

or did not, report a suspicious transaction.

Read the entire article here.

This is as readable as FINTRAC gets, Christine

Duhaime uses a case study to work through

the heavy legal aspect.

The sound of music?

Ever dream of singing in a dynamic choir?

Here’s your chance! And – you can perform

on stage Saturday July 5th at the VREB’s Annual

Christmas in July benefit concert.

Last year’s concert sold out all 700 seats and

this year it will happen again…with you on stage?!

Go for it – no experience necessary!

The choir: The Victoria Soul Gospel Choir,

over 50 voices under the leadership of a Motown

veteran, Checo Tohomaso

The Performance: First Met United Church, 7pm

The rehearsals: Tuesdays 6-8pm

The Choir website:

E-mail if you are interested in
singing and a choir director (a fellow REALTOR®)
will contact you with more info.
about the July 5th concert. Crank it up and enjoy!

FYI – Recent updates to Strata Property Act

Announced this February:  


Strata Property Act (SPA)

Amendments to the Strata Property Act will

make it easier for strata councils to carry out

their responsibilities by removing regulatory

barriers for strata corporations and owners,

explaining requirements and clarifying definitions

within the Act.

The amendments will confirm that paying for

and accruing funds to pay for a depreciation

report is a legitimate operating fund expense

and can be approved by a majority vote.

As well, the amendments will make it easier

for strata corporations to pay for repairs

recommended by their depreciation report by

reducing the required approval for contingency

reserve fund expenditures from three-quarters

to majority vote.

The amendments will change the definition of

purchasers to make it clearer that specified rights

and obligations do not end when the title has

changed hands.

The complete release is posted here.

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