Residential Measurement Standard

YES, Alberta has a Residential Measurement Standard (RMS).

This is a benefit for the Seller and the Buyer!







The RMS gives consumers, real estate professionals, and other industry professionals accurate and consistent property measurements

RECA - Property measurement is the process of identifying and quantifying the physical area of a property. A measurement standard is a consistent methodology to determine an area; such standards are based on transparent, uniform principles and protocols. The Residential Measurement Standard (RMS) contains nine principles, which licensed real estate professionals must follow when measuring residential properties. The RMS does not apply when real estate professionals measure non-residential properties, such as commercial, industrial, or retail premises. RECA does not require sellers or their real estate representatives to represent a property’s size when marketing it. However, if they are including property size in their listing information or marketing materials, it needs to be an accurate representation of the RMS area. 






Sellers

Although the Seller is not required to market the size of their home when for sale, many Real Estate Board’s require the Realtor® to market your home showing the RMS. 

Benefits of marketing the RMS:

  • property size is often important to buyers and other real estate professionals  
  • there is a standard all agents must follow
  • sellers want their property size accurately described
  • real estate appraisal professionals need comparable property measurements for appraisals
  • it details what exactly is being measured


Buyers

When a Buyer is purchasing a home, size may be a factor, or at least a guide for them to use. There are many other factors, RMS is just one. 


Benefits of marketing the RMS:

  • how property size factors into the buyer’s decision to purchase
  • the relationship between property size and selling price
  • the RMS: - what is included and excluded in the measurements - how professionals will take measurements and calculate them 
  • if the property is a condominium: - the difference between the RMS area and the condominium unit registered size - what is included and excluded in the RMS area - what is included and excluded in the condominium unit registered size 
  • the buyer’s options to determine property size, and their instructions
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When I moved to Calgary in 1989 it was the best city I had ever visited or lived. 

Back in the day what caught me most was: 

  1. the sunshine - it just affected you, no matter what season, the blue skies and sun was mood changing
  2. the semi arid climate
  3. housing was more affordable 
  4. food was less
  5. public transportation was less
  6. going out cost less
  7. shopping was less
  8. it had a youthful vibrancy with positive friendly people
  9. the Rocky Mountains were in photo HD and were at at Calgary’s doorsteps, from hiking, fishing, camping, sight seeing, and anything else you could want from the most spectacular nature in the world. 

Today I can add to this, while none of the above has changed, and 202 has definitely brought on it’s challenges with economy and Covid-19, I am surprised when I see friends and clients moving back to Alberta. Back to Calgary. And I ask them, what is it you are missing?

  1. the sun
  2. climate
  3. the affordable cost of housing
  4. the cost to live day to day
  5. the vibrancy in our city
  6. the Rocky Mountains
  7. peacefulness - photo by Jordan Selanders 10 minutes west of Calgary Glenbow Ranch Provincial Park

Yes, each city has had to deal with Covid-19, and are or will have to deal with this Global Recession, but the city of Calgary is a great city and will thrive through all of this. 

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The province of Alberta has made some well needed changes to the Condominium Property Act starting January , 2020. 

The amendments include further clarification to regulation the Act. This includes:


1. Documents Provided by Corporation :

- What is offered after an AGM

- Annual Budget Disclosure

- Information Documents At No Charge

- Maximum Fees Not Exceeding Specific Amounts

- Retention Periods for Requested Documents

- Further Definition Around Reserve Fund Studies


2. Meetings and Voting:

3. Borrowing By The Corporation

4. Transfer, Lease or Sale of Common Property, Easement of Covenant or Condominium Parcel 

5. Notices, Notifications 

6. Change of Bylaw to Ensure Conformity with the Act and Regulations

7. Minimum Retention Period for a Corporation’s Documents and Information 

8. Bylaws of the Corporation 

9. Notice of Annual General Meetings 




Some of the highlights for owners are receiving, for free, condo documents pertanant to the running of their condominium. 

There are many more highlights and definitely worth reading over the amendment. 


https://greatercalgaryrealestate.com/condominium-property-act-changes-2020.html

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Greater Calgary Real Estate was modelled around the needs of realtors. It is realtor centric. Having spent over 20 years in real estate, and seeing many companies thrive and dive with all types of business models from well known franchise models to unknown names, we wanted to create a company that thrived on keeping fees low for realtors while creating a financially healthy company. And how did we do that?


Realtor Centric


Typical needs for realtors are conveyancing, finance, and broker questions. 


But throughout the year topics about legal questions, regulatory input, client care, and negotiating advice come up. The help they receive from Greater Calgary Real Estate comes any morning to any night and they know someone is there for them. 


Our Realtors know the advice they receive comes from over two decades of experience dealing with RECA investigations, CREB complaints, Broker to Broker resolutions, client issues and legal matters. As a realtor, you just never know if it could be you. It can cause health problems, sleeping issues and depression. Our Realtors receive high quality representation with a proven 100% track record. 



Business Model


We have changed our business model a few times since our start. But in 2010 after changing our successful printed real estate magazine advertising, we decided we wanted to start a business that could thrive and be financially stable, even if it was only myself and my husband. This was a very important turn for us. Print media changed and this had been our success since the 90’s. 


So what were we looking for? After many discussions, and soul searching, we realized we didn’t want to have a company that only thrived with top producers. We wanted to make sure our company thrived from as little as two to the sky’s the limit. 


We noticed that most companies were competing against each other, all had the same type of commission splits/office fees. All advertising how successful they would make you. But we know what it takes to be successful, and that’s you! 

We noticed there were companies that charged nothing! But having a finance background, we knew that was not a good plan! Need I explain the problem with that?


We didn’t want to be one of those brokerage that failed financially, that would be devastating to my financially educated husband. 


So…..


We decided to keep our fees low, offer online virtual systems, intranet library with training, company documents, branded designs, online feature sheets, presentations, goal setting, and training and learning company sales meetings and advances.  All while keeping in mind, our aim was to keep more in the pockets of our realtors. 


And that we accomplished. Although we have two professional programs and a training program, we have been able to keep the fees low and be very financially stable and responsible and we are entering our 14th year successfully operating Greater Calgary Real Estate. 



Technology


Our company works with online systems organizing your whole office and ours. Our file reviews go through 3 checks which are part of the system that helps keep our agents out of trouble throughout their career and aids in their knowledge of contract and quality real estate. The system hosts per deal checklists, auto notifications of conditions and essential dates, tasks, notes, accounting, statements and more. 

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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.