More Ontario Realtors now have access to more data as the PropTx MLS database expands to include listings from most boards in the province. 

PropTx, a wholly-owned and for-profit subsidiary of the Toronto Regional Real Estate Board (TRREB), promises members access to a centralized MLS, a long-standing priority among Realtors, according to TRREB CEO John DiMichele. 

“This has been a strategic focus, and through the creation of PropTx, was a key mandate for the organization,” says DiMichele. “The participating boards and associations were essential collaborators, recognizing that working together benefits all Realtors. A unified MLS database ensures consistency and continuity as it matures.”

Participating boards and associations currently have access to the PropTx MLS system, with the final stages of data transition underway. DiMichele explains several enhancements are expected in the first quarter of 2025, including expanded mandatory fields and the integration of pre-populated external data sets. These updates are based on feedback from participating boards and new users of the platform.

Participating boards and associations

The following boards and associations are part of the PropTx MLS collaboration:

• Toronto Regional Real Estate Board (including the former Brampton Real Estate Board)
• Central Lakes Association of Realtors (including Durham, Quinte, Northumberland, Peterborough, and Kawartha Lakes)
• London and St. Thomas Association of Realtors
• Niagara Association of Realtors (NAR)
• Kingston & Area Real Estate Association (KAREA)
• Timmins, Cochrane & Timiskaming District Association of Realtors
• Ottawa Real Estate Board
• Cornwall & District Real Estate Board
• Renfrew County Real Estate Board
• Rideau-St Lawrence Real Estate Board
• Oakville, Milton & District Real Estate Board (OMDREB)
• One Point Association of Realtors (formerly Lakelands, Guelph & District, Huron Perth, and Grey Bruce Owen Sound)
• Woodstock, Ingersoll Tillsonburg & Area Association of Realtors (WITAAR)
• North Bay & Area Realtors Association (NBARA)

DiMichele explains that through PropTx, members of these associations have access to more data than ever before, and that will expand as new features are introduced.

“The move towards a single MLS database creates incredible efficiencies for Realtors, both in the operation of their business as well as in the cost of operating their business,” DiMichele says. “The move towards a single MLS database reduces the need for interboarding MLS listings as well as paying for multiple real estate board and association memberships.”

TRREB’s CEO calls PropTx a for-Realtors-by-Realtors solution, “The long-term strategic goal of PropTx is to continue to offer a range of best-in-class tools, insights, and applications to improve the transaction experience for realtors and the clients they serve efficiently and effectively.”

Impact on ITSO

More boards transitioning to PropTx marks a shift for the Information Technology Systems of Ontario (ITSO), a not-for-profit corporation established in 2020 with the primary goal of creating a unified MLS.

Geoff Halford, ITSO chair, says the organization was initially created to increase access to MLS data through the operation of a regional MLS System when associations were not ready to amalgamate but wanted to share data. Halford says this purpose may no longer be relevant.

Member boards such as KAREA, NAR, OMDREB, NBARA, WITAAR, and OnePoint are leaving or have left ITSO in favour of PropTx.

Halford acknowledges the evolving landscape and its potential impact. “We are proud of the success we had creating a regional system that at its peak brought together 23 real estate associations and more than 24,000 users who had access to data from 29 of the real estate associations in the province, but we also understand that the landscape is quickly changing,” he said, adding  ITSO remains committed to supporting its current member associations, ensuring that the system continues to meet their needs.

“We are disappointed that a solution could not be arranged with TRREB that would have fostered competition in the MLS services market…” Geoff Halford, ITSO chair

ITSO will operate its MLS system for its remaining three member boards, the Barrie & District Association of Realtors (BDAR), Brantford Regional Real Estate Association (BRREA), and Cornerstone Association of Realtors, for the next two years under the current MLS Services Agreement.

“We will be reviewing what is in the best interests of our members and the future of ITSO over the course of the next two years,” says Halford.”There are other MLS Systems in Ontario and in other provinces that operate with far fewer users than ITSO, so we know such a system is viable, but we also understand the political pressure that our remaining members face to solve the problem of fragmented data access.

“We are disappointed that a solution could not be arranged with TRREB that would have fostered competition in the MLS services market and enabled all realtors in the province to access all the MLS data they need in the system of their choice.” 

Halford adds, “It is especially disheartening to see Realtors who formerly used the ITSO system complain on social media about the quality and quantity of listing content they now have access to in their new MLS System, as ITSO and its members prided themselves on building a comprehensive database of detailed and accurate MLS listing content.”

Industry perspectives

Paul Czan, president of the Ottawa Real Estate Board, says the board joined PropTx last fall.

Czan explains, “This new platform promises a much better experience with more data readily available. Faster communication and smoother transactions, in a sense. Another thing is we’re able to have input on the system.”

OREB’s president has high hopes for PropTx’s impact.  “I think it’s going to be a platform that’s going to bring stability and consistency amongst a bit of a shifting landscape in our industry, meaning that Realtors can be assured that they can have access to the same quality data as their counterparts in all the other regions.”

Editor’s note: The original article stated that the Ottawa Real Estate Board had left ITSO for PropTx. The board was not an ITSO member and the article has been updated to reflect that.

REVEL Realty, an independent real estate brokerage with headquarters based in Niagara Falls, Ontario, is excited to announce that REVEL will find a presence and a new location in Collingwood, Ont. and surrounding areas.

Building upon recent expansion exploits in Kingston, Toronto West, North Bay and Durham, REVEL in Collingwood will officially welcome Mike and Jen Scholte, leaders of the prestigious Scholte Team, to host the finale of 12 REVEL expansion offices in 2024. This exceeds the goal of 10 new offices to commemorate REVEL’s 10-year anniversary in business.

Mike and Jen are respected industry leaders with a synonymous REVELutionary vision for success and growth. They will continue to expand their influence and impact in Collingwood and surrounding areas under the REVEL brand, inevitably increasing market share in what has become one of Ontario’s more unique real estate marketplaces.

“We have always championed the power of collaboration and contribution in real estate,” explains Jen Scholte. “With a deep commitment to personal growth, continuous learning, mentorship and coaching, we have consistently strived for excellence in our careers.

As seasoned leaders in real estate sales and governance, we recognize the unmatched value that a strong, supportive team brings to the profession. Joining REVEL Realty Inc. aligns perfectly with our vision for fostering growth and success, and we are thrilled to embark on this new chapter, inviting others to join us on this exciting journey of professional and personal achievement.”

What’s most likely REVEL’s final expansion move in 2024 marks another major milestone for REVEL’S 10th anniversary in business. REVEL in Collingwood testifies to REVEL’s unyielding and relentless desire to REVELutionize real estate with like-minded leaders in the industry looking to take a major step forward in their real estate career paths.

REVEL in Collingwood places another orange dot in the northern quadrant of Ontario, symbolizing an unparalleled growth spurt for a brand creating tidal waves in the real estate industry. In 2024 alone, REVEL expanded to Timmins, Waterloo, Campbellville, Espanola, St. Catharines and Niagara-on-the-Lake (McGarr Realty Alliance), Kingston, Toronto West, North Bay, Durham and most recently Etobicoke. Adding an all-star cast in the Scholte Team is sparking another current of electricity to galvanize REVEL’s magnetic network. Positioned with confidence and energy for 2025, REVEL is poised to transform into a generational brand.

“We are excited for the Scholte Team and blessed to have them join our brand. Mike and Jen are incredible agents and wonderful people. To have them lead our brand into Collingwood is nothing short of an honour,” explains Ryan Serravalle, founder of REVEL.

“We share the same vision and passion for real estate and the clients we serve in our communities,” adds Nicki Serravalle, founder of REVEL. “At REVEL, we open our doors to work with the best professionals with the expectation that we can help each other rise to another level of confidence and performance.”

From its inaugural launch in 2014, founders of REVEL, Ryan and Nicki Serravalle, have built an alluring brand that has inspired a demographic of real estate professionals to conduct business in a REVELutionary manner.

Attracting some of the highest-selling teams in the nation while developing a contingent of industry-leading agents through its innovative REVEL Ed and REVEL Mentorship programs, REVEL has established itself as a credible and promising option for reputable real estate agents, brokers and prominent teams seeking to take the next step in their career paths: leadership in, ownership of or partnership with a REVEL office.

In 2023, Ontario dominated Canada’s housing searches. Last year, Alberta cities like Edmonton and Calgary captured attention, with their more affordable housing and lower living costs, reports Zoocasa.

This trend shows in Canada’s top five searched cities last year: Toronto, Edmonton, Calgary, Mississauga and Vancouver.

Toronto remains the leader, with one-bedroom rents averaging $2,374 and home prices at $1,061,700. Vancouver follows, with Canada’s highest rents at $2,534 and even higher home prices averaging $1,172,100. Mississauga, a city offering more affordable rents at $2,279, remains a key option for those seeking proximity to Toronto’s bustling urban core.  

Ontario’s housing landscape

Ontario continues to dominate real estate searches, driven by its population density and economic opportunities. Cities like Mississauga, Hamilton, Ottawa and Oshawa follow Toronto’s lead:

Hamilton. An hour west of Toronto, it attracts first-time buyers with relatively affordable home prices and rents.  

Oshawa. Known for its budget-friendly condo townhouses, Oshawa appeals to price-conscious buyers who want easy access to Toronto.  

Ottawa. Canada’s capital offers a stable job market, quality of life and affordable housing compared to Toronto. Its proximity to Quebec’s scenic lakes also makes it a gateway to budget-friendly cottage properties.  

Alberta: A practical, more affordable alternative

As living costs soar, Alberta’s cities provide a practical alternative for buyers and renters.  

Calgary. With one-bedroom rents averaging $1,634 and homes priced at $575,600, Calgary blends urban amenities with outdoor adventures. Its proximity to the Rockies and vibrant cultural scene make it a top choice for families and young professionals.  

Edmonton. A standout for affordability, Edmonton offers one-bedroom rents at $1,355 on average and home prices of $395,400, making it one of Canada’s most cost-effective urban centres. Its robust economy and lower cost of living attract investors and first-time buyers alike.  

Who’s driving the market?

Two key demographics are fueling the housing market. 25-34-year-old young professionals and first-time buyers dominate searches, looking for affordability and urban convenience.

As well, 45-64-year-old buyers seek to downsize or assist their children with housing costs.  

Review the full report here.

The real estate industry still has a long way to go when it comes to building truly accessible spaces for all, and the new $956-million Toronto courthouse is just the latest example of how Canada is falling short. With a claim to be the “most accessible courthouse in Ontario,” the building exposes a harsh reality: accessibility is still being treated as an afterthought.

An inspection of the courthouse, led by Dave Lepofsky, chair of the Accessibility for Ontarians with Disabilities Act Alliance, revealed major barriers: confusing layouts, inaccessible pathways and poorly installed wayfinding systems. 

Unfortunately, this issue of accessibility in private and public spaces is not isolated. Across Canada, we see new development projects that meet minimum legal standards for accessibility but still fail to create spaces that everyone can use comfortably and independently. It’s a systemic problem that highlights how merely meeting minimum accessibility standards falls short.

We must adopt a new standard of inclusive design that proactively addresses the needs of people of all abilities. The real estate industry has the power—and the responsibility—to lead this transformation.  

Rethinking accessibility beyond requirements

In Ontario, legal standards such as the Ontario Building Code (OBC) establish minimum accessibility requirements, but these standards don’t fully address the diverse needs of individuals who rely on accessibility the most. Accessibility isn’t a one-size-fits-all model. Catering to the diverse needs of individuals requires a more thoughtful, flexible and intentional approach.  

Will a parent pushing a stroller be able to open this door with ease? Will someone with a lower or upper limb amputation be able to navigate this space without assistance? Will a person with vision loss feel safe and confident moving through this space? Can someone using a wheelchair easily access all areas without obstacles? Are light switches, thermostats and outlets placed at heights that are convenient for everyone? Is the lighting sufficient to ensure safety and visibility in all areas, regardless of the time of day?

These are the kinds of questions we need to ask at every stage of designing a community. True accessibility transcends checklists, focusing on creating environments that foster independence. By collaborating with individuals with lived experience, developers can identify barriers and design communities that eliminate them from the start.

This human-centred approach to design and construction is where Daniels’ Accessibility Designed Program (ADP) was born. The ADP helps with not only improving quality of life but also ensuring that accessibility is built in, not added on as an afterthought.

Creating homes and spaces that adapt to changing community needs

As our population ages and mobility challenges become more common, creating accessible spaces is no longer optional—it’s a necessity. By 2030, the Canadian government estimates that one in four Canadians will be over the age of 65, and with 2.7 million already living with mobility disabilities, the need for inclusive design is clear.

Accessibility benefits everyone, leading to more functional, user-friendly environments. True progress requires collaboration across the industry, with developers, builders, architects and urban planners integrating accessibility from the start.

A call to fellow developers and the community

The strides being made in accessibility are significant, but there is still much more we can do together. The real estate industry has a unique role to play in driving the creation of truly inclusive communities. The Accelerating Accessibility Coalition, for example, brings together leaders in real estate development and accessibility, challenging home builders to make accessibility a priority as we work to meet the growing demand for new homes across Canada.

Accessibility is not just a design feature; it’s a transformative force that enhances independence, fosters connection and improves our spaces for everyone. The homes and communities we build today will set the standards for tomorrow. 

By joining this movement, you can help shape the future of our communities and ensure that nobody is left behind. Together, as an industry, let’s seize this opportunity to create accessible, inclusive spaces that meet the needs of today and the future. The path forward is clear, and the time to act is now.

Average asking rents for residential properties in Canada fell to $2,139 in November, marking a 15-month low, according to the National Rent Report by Rentals.ca and Urbanation. This represents a 1.6 per cent year-over-year drop and a 0.6 per cent decrease compared to October. The decline follows a similar trend from earlier in the fall, with rents down 2.2 per cent over the past three months.

“Overall, the recent decline in rents has been very mild and is allowing affordability to improve following a rapid escalation in rents over the past few years,” said Shaun Hildebrand, President of Urbanation. “Declines so far are mainly focused within the secondary market for condos and houses, mostly in B.C. and Ontario, while purpose-built rents are stable.” 

Despite the drop, rents remain significantly higher than historical levels. They are up 6.7 per cent compared to two years ago and 18.8 per cent from three years ago. Over the past five years, rents have increased at an average annual rate of 3.4 per cent, which according to the report is “generally in line” with long-term trends.

Regional variations highlight market differences

Ontario saw the steepest declines, with average apartment rents dropping 6.4 per cent year-over-year to $2,351. Two-bedroom apartments in the province saw the largest drop, down 7.6 per cent. B.C. also reported a decrease, with rents falling 2.3 per cent annually to $2,524. Quebec saw a marginal decline of 0.4 per cent, bringing the average asking rent to $1,969.

Other  provinces bucked the national trend. Alberta rents rose 3.7 per cent, while Saskatchewan saw a 12.1 per cent jump and Manitoba’s average rent jumped 7.9 per cent. In the Maritimes, rents grew by 5.1 per cent in New Brunswick and 4.4 per cent in Nova Scotia. Newfoundland and Labrador remained relatively stable, with rents declining by only 0.4 per cent.

Declines in Canada’s largest cities 

Rents fell in Canada’s five largest cities. Toronto’s average asking rent dropped 9.4 per cent year-over-year to $2,640, reaching a 28-month low. Vancouver saw an 8.9 per cent decline to $2,888, its lowest point in 30 months. Calgary, Ottawa and Montreal also reported year-over-year decreases of 5.8 per cent, 3 per cent and 2.3 per cent, respectively.

The regulator for Ontario’s real estate industry is preparing for a major leadership change. Michael Beard, CEO of the Real Estate Council of Ontario (RECO), is announcing his retirement effective February 2025. 

Beard, who took the helm in 2017, reflects on his tenure at RECO in a press release, saying, “We have advocated for and implemented a significant regulatory enhancement to the benefit of consumers and the industry, increased our enforcement capacity, found many cost and other efficiencies, and introduced a meaningful 30 per cent fee reduction for registrants that will remain in place for many years to come.” 

Beard’s legacy 

While acknowledging that regulatory work is ongoing, Beard shared his excitement for a new chapter focused on family and travel, “I am looking forward to starting a new and more family- and travel-focused phase of my life knowing that the people of RECO will continue this important work from a strong foundation.”

Katie Steinfeld, chair of RECO’s Board of Directors, expressed gratitude for Beard’s contributions. “The Board sincerely appreciates Michael’s commitment to improving the real estate services sector for consumers and registrants,” she said. “He leaves an impressive legacy that will guide RECO’s continued progress.”

Auditor general’s report & TRESA

The leadership transition comes as RECO continues efforts to address concerns raised in a 2022 report by Ontario’s auditor general, which highlighted shortcomings in regulatory practices, including delays in investigations and insufficient enforcement of ethics violations. Beard previously acknowledged the report as an opportunity to enhance RECO’s approach, aligning many of the recommendations with its ongoing initiatives.

Under Beard’s leadership, RECO has rolled out phases one and two of the Trust in Real Estate Services Act, replacing the decades-old Real Estate and Business Brokers Act. Phase three is expected to be released by early 2025.

Search for RECO’s new CEO

Chief Operating Officer Brenda Buchanan will step into the role of interim CEO while the Board searches for a permanent successor, with a goal of completion by mid-2025.

For years, Ontario’s real estate boards were the gatekeepers. Need MLS access? You joined the local board—no questions, no choices. But that’s history. Today, with most Ontario boards subscribing to PropTx, MLS services are no longer region-locked. Instead, the majority of Ontario Realtors are or will be soon, operating on the same shared MLS platform. 

Shared MLS access redefines membership value

This shift fundamentally changes the equation: the core value every board used to offer—exclusive MLS access—is now a standard feature across (most of) the province. So the question becomes: what else do boards offer, and is it worth the price? If boards want to keep members, they’ll need to bring something new to the table. They have to compete.

This competition should mean better pricing, improved services and tangible value. And it’s not just Realtors who will benefit; brokerages can too. In a standardized MLS world, brokerages now have the option to choose boards that best match their cost and service priorities, creating material savings for their agents. This choice gives brokerages a new edge in recruitment, allowing them to align with boards that deliver the best return on dues. In a market as tight as Ontario’s, this competitive choice is a recruiting advantage that’s as valuable as it is overdue.

Power through choice

But competition also empowers individual members. Not happy with the direction of your board? Feeling like your concerns are ignored, or that your dues aren’t delivering value? You no longer need to wait for quorum or for your brokerage to make the call—you can vote with your feet. The ability to choose a board that better aligns with your priorities creates a new level of accountability and responsiveness that was unheard of under the old system.

At the same time, this level of choice exposes the weaknesses in the current multi-board structure. Despite the increased pressure to compete, many boards are doubling down on costly mergers and amalgamations that fail to deliver meaningful improvements in service or value. If the goal is to provide better options for members, shouldn’t these efforts focus on addressing redundancies and inefficiencies at their roots?

And here’s the issue: despite the shifting landscape, only one board in Ontario seems truly prepared to compete at scale—TRREB. That is to say that there is likely not a board in Ontario that can offer competitive pricing even if all that is offered is the most basic of services. If most boards aren’t in the game to win, why are they spending valuable resources on mergers and amalgamations that won’t increase their competitiveness? At what point do realtors have the right to ask: where’s my money going, and why isn’t my board focused on delivering more value? 

Mergers without meaningful results

When I have this discussion with clients—whether broker/owners or franchise corporate offices—I’m often met with concerns that autonomy or culture is at stake, that a merger risks “losing the board’s unique character.” But let’s be clear: mergers and acquisitions are meant to add value, not size. If you’re a member of OnePoint, Central Lakes or any of the Eastern Ontario Boards, it’s fair to ask—what value is being added by these changes? Are these amalgamations truly making boards more competitive, is your dollar stretching any further when it comes to providing you value in your real estate business or are they just merging to delay the inevitable? Without measurable improvements, these mergers are little more than costly reorganizations, creating larger, equally uncompetitive boards that fail to meet members’ evolving needs. 

The concerns around autonomy and culture aren’t unique to large mergers; these challenges arise in smaller amalgamations, too. Boards are pouring resources into combining forces without a meaningful plan to compete on a broader scale, leading to expensive exercises that result in larger, but still uncompetitive, boards. If these mergers aren’t driving efficiencies, improving services or creating real value, they’re ultimately a waste of members’ dues.

The case for a single-board model

In the for-profit world, mergers are strategic, and designed to increase efficiency, expand market reach, or add unique capabilities. Successful acquisitions often preserve the best parts of a company’s culture and structure—consider Berkshire Hathaway, which buys companies but allows them to retain significant independence, or Disney’s acquisition of Pixar, where cultural preservation was a priority. These models thrive because they combine strengths without losing what made each company valuable in the first place. Ontario’s boards could—and should—take a page from these playbooks, focusing on creating competitive value and preserving unique benefits instead of just merging for the sake of consolidation.

If mergers aren’t solving the core issues—redundancy, inefficiency, and lack of value for members—it’s worth asking if there’s a better way forward. Rather than continuing to consolidate small, struggling boards into larger but still inefficient entities, consider a fundamentally different approach: moving toward a single-board model.

Provinces like Nova Scotia, Saskatchewan, Newfoundland and PEI have demonstrated the benefits of unified governance. A single, consolidated board eliminates duplicative costs and invests resources directly into what matters most for members—training, advocacy, and technology. This structure creates a streamlined system that serves the entire province’s interests while maintaining local insights and autonomy where it counts.

The business of boards and a call for accountability 

With one board, Ontario realtors could also overcome challenges tied to vote distribution and representation. Consider last year’s ORWP vote through OREA—a win that left many members questioning how the outcome was reached. A system incorporating referendum tools could have provided a broader and more equitable resolution. Unified governance simplifies decision-making, ensuring every member has a clear and equal voice in shaping the industry’s future.

The shift toward competition places a new and necessary responsibility on associations: they must operate efficiently. Just as businesses must streamline operations to stay competitive, boards must be prepared to deliver greater value and service—faster, smarter, and with a focus on real results. The boards that can’t meet this standard will inevitably be left behind, while those that embrace this challenge set a new bar for value and relevance in the industry.

Ultimately, organized real estate is a business. Realtors owe a fiduciary duty to clients, and our boards should behave no differently. Why should realtors accept less from their boards than they give to their clients? Realtors deserve boards that focus on tangible value, evolving to meet real needs rather than clinging to outdated structures or protecting internal interests.

Ontario’s real estate boards are at a crossroads. Realtors and brokerages deserve value, transparency, and innovation—not outdated systems. It’s time for boards to compete, consolidate or step aside for a streamlined provincial model that better serves its members.

Niagara Falls/Durham, Ont.- Revel Realty, an independent real estate brokerage with headquarters based in Niagara Falls, Ont., is excited to announce that the powerhouse broker trio of Doug Gordon, Walid Dorani and Gino Spagnuolo will lead REVEL’s expansion into Durham.

Building upon recent expansion in Toronto West, REVEL Durham will begin to triangulate the Greater Toronto Area with the REVEL brand, while establishing a prominent presence in areas north and east of the metropolis.

Having already staked a claim on this marketplace with a homegrown reputation of hard work and ethical business practices, Doug, Walid and Gino will form a unique leadership team with the intent of growing REVEL’s market share in a thriving and developing region of Ontario.

“I joined Revel because they stand apart from the status quo, driven by great leadership with a progressive vision that aligns with my goals,” explains Doug Gordon. “I want to be a part of and help grow an inspiring brand. Under the Revel brand, I hope to help foster a dynamic, professional environment where true collaboration and innovation thrive in order to provide exceptional value for our real estate clients,” he explains.

“The breaking away from conventional practices resonates with my own approach to real estate,” adds Gino Spagnuolo. “With forward-thinking leadership and a brand vision that focuses on elevating the industry, I’m excited to contribute to this culture of innovation, growth, and success.”

Such an expansion move marks a major milestone for REVEL’S 10th anniversary in business. With a goal in 2024 to grow by ten offices to commemorate ten years in business, REVEL Durham will be the official tenth office, realizing the fulfillment of this prognostication, and validation for a brand that continues its exponential growth.

In 2024 alone Revel expanded to Timmins, Waterloo, Campbellville, Espanola, St. Catharines and Niagara-on-the-Lake(McGarr Realty Alliance), Kingston, Toronto West and most recently, North Bay. To include three, reputable and renowned brokers in REVEL’s stable of leaders will do well to extend and bolster REVEL’s far-reaching network, as well as add to the growing list of expansion offices, which will most likely exceed expectations with a few more slated to be announced before the end of the calendar year.

REVEL regards this trio of talent as a major expansion advantage for a brand that truly values the people who have earned promotional opportunities through impressive work ethics and adoption of the business principles REVEL insists upon for each of its 33 offices in Ontario.

“We are honoured to welcome Doug, Walid, Gino and their team into our REVEL family. Our ambitions and visions for real estate are like-minded, as well as our passions to offer elite service to our clients and colleagues,” explains REVEL co-founder, Ryan Serravalle. “To acquire three incredible leaders, who will drive REVEL Durham, is a first for us, and one that we are extremely excited about.”

REVEL is confident that its focus on education, coaching, training, mentorship, and creative marketing, not to mention its top ten branding influence in the province of Ontario, will continue to create opportunities for agents, affiliations, and client networks throughout the province and beyond.

“We are overwhelmed with enthusiasm when we attract agents, brokers and teams that share our core principles of business,” adds Nicki Serravalle, co-founder of REVEL. “At REVEL, we work to create confidence in our agents so that they aspire to leadership positions. Doug, Walid and Gino already have a headstart in this regard.”

From its inaugural launch in 2014, the founders of REVEL, Ryan and Nicki Serravalle, have built an alluring brand, which has inspired a demographic of real estate professionals to conduct business in a REVELutionary manner.

Attracting some of the highest-selling teams in the nation, while developing a contingent of industry-leading agents through its innovative REVEL Ed and REVEL Mentorship programs, REVEL has established itself as a credible and promising option for reputable real estate agents, brokers and prominent teams, who are seeking to take the next step in their career paths—leadership, ownership of, or partnership with, a REVEL office.

QUICK HITS

• In Ali v. Patel, the Ontario Superior Court ruled that no binding agreement of purchase and sale was formed because the seller’s inclusion of Schedule B, which was not signed by the buyer, constituted a counteroffer rather than acceptance of the buyer’s offer.
• The court emphasized that a binding contract requires a “meeting of the minds” on all essential terms, which was absent in this case as the buyer neither signed nor agreed to the amended terms.
• Consequently, the buyer was not liable for the $50,000 deposit, illustrating the importance of ensuring all terms are finalized and agreed upon before declaring an agreement binding.

In Ali v. Patel, 2024 ONSC 3505 (CanLII), the Ontario Superior Court of Justice determined that a binding agreement of purchase and sale had not been formed between a seller and buyer because the seller had added a schedule which had not been signed by the buyer.’

The buyer’s unconditional offer

On Jun. 5, 2023, the buyer made an unconditional offer to purchase the seller’s property, which was irrevocable until 11:59 pm on the following day. The offer to purchase contained an offer summary document, an offer of purchase and sale, and a Schedule A. 

On the evening of Jun. 6, 2023, the seller’s agent sent the signed offer back by email. The price, deposit, closing date and Schedule A remained unchanged. However, the seller added a notation on the first page of the agreement indicating that it now included a Schedule B. The cover email stated: “Can you have your clients initial Schedule B and on the first page that there is a Schedule B?  Accepted offer and deposit info attached.” There was no new irrevocable date proposed. 

The form of the Schedule B document included provisions dealing with issues such as defined “banking days” and how the parties would conclude the transaction in the event that banks and registry offices were closed on the anticipated closing date, the timing and form of deposit and where the keys would be left. The MLS listing for the property included a stipulation that all offers were required to include Schedule B.

Schedule B was not attached to the agent’s initial email enclosing the signed offer. A few minutes later, however, the agent re-sent the documents, this time attaching Schedule B, under cover of an email stating “Sorry. Use this.” The buyer did not respond or deliver the $50,000 deposit required by the agreement.

The controversy over Schedule B

The next morning, on Jun. 7, 2023, the buyer advised that they would be unable to proceed with the transaction for unforeseen family reasons. The buyer sent the seller a mutual release later that day. The seller did not sign the release. Rather, the seller’s agent sent an email advising that her clients would hold the buyer liable for any loss or damages.

The seller re-listed the property. One week later the seller sold the property for $25,000 less than the previous buyer had agreed to pay.

Litigation ensued and the seller ultimately brought a motion for summary judgment concerning the buyer’s liability for the $50,000 deposit. The seller argued that there was a binding agreement and that they were entitled to the $50,000 deposit that should have been paid by the buyer.

A “counteroffer” is a non-acceptance of a previous offer

The motion turned on the issue of whether the addition of Schedule B in the final version of the agreement and the demand from the seller that the buyer acknowledge the Schedule by signatures and initials, was a counteroffer that needed to be accepted by the buyer to form a binding agreement.

The court referred to the principle that—by definition—a “counteroffer” is a non-acceptance of a previous offer. In order for a binding agreement to be formed, there must be a meeting of the minds. The court may look beyond the formal written document, to the words and conduct of the parties, if all the essential terms have been agreed upon.

First, the seller argued that there was a binding agreement in place because Schedule B did not include essential elements of the contract.

The motion judge noted that the circumstances were unusual because Schedule B did not address what would typically be considered necessary and essential clauses to find that there had been a meeting of the minds and the conclusion of a binding agreement. 

“Their return of the agreement including Schedule B was therefore a ‘counteroffer’ which the buyer was free to accept—or not.”

However, the treatment of Schedule B by the seller as a necessary inclusion in any final agreement indicated that it was essential in their view. Their return of the agreement including Schedule B was therefore a “counteroffer” which the buyer was free to accept—or not.

Second, the seller argued that they had accepted the buyer’s offer without attaching Schedule B, so a binding agreement was struck, and their later communication which included Schedule B came after a contract already existed. This argument was rejected since the failure to include Schedule B in the agent’s first email was obviously inadvertent, as is evident in the wording of the follow-up email stating “Sorry. Use this”.

Counteroffer or binding agreement?

The motion judge commented that the argument might be more persuasive if the facts were that the seller had fully accepted the offer and then later changed their mind to decide that they wanted to include a new Schedule or additional provisions to the deal. 

The argument then would be that, in fact, there was no counteroffer and a binding offer was in place, and any events thereafter could not impact the already existing contract. However, that is not what occurred.

Rather, the signed counteroffer was inadvertently sent without Schedule B. The email referenced Schedule B and asked that the buyer initial the first page of the offer document and sign Schedule B. 

In the motion judge’s view, giving effect to the seller’s argument would have ignored the fundamental contractual law principle that a contract requires a meeting of the minds to be formed. Here, there was no meeting of the minds as the buyer did not sign or accept any agreement that included a Schedule B.

No binding agreement, no deposit liability

In the result, the court found on a balance of probabilities, that the returned agreement was a counteroffer, and that the seller viewed Schedule B as a necessary component of a concluded agreement. As the counteroffer was never accepted or signed by the buyer, no binding agreement was reached. The buyer was therefore not liable to pay the deposit.

The decision demonstrates that a party should be cognizant that changing or adding any terms to an offer may constitute a counteroffer that requires acceptance. Schedules or other additional terms should be included in the original form of the offer that is intended to be accepted without further negotiation. 

Two top Ontario real estate teams—Alex Irish & Associates and The Regan Team—announced a strategic merger on Wednesday that will see their sizeable market reach combined beneath one umbrella.  

Under the new banner ‘Regan Irish & Associates,’ The Regan Team, led by Matthew Regan, has left Royal LePage Real Estate Services in Mississauga, Ont. and joined forces with Irish and her team at ReMax Escarpment Realty, headquartered in Oakville, Ont. 

A new alliance: Regan Irish & Associates

“I can only imagine how high the bar will be set with these two client-centric teams coming together,” says ReMax Escarpment broker of record Conrad Zurini. “We’re ecstatic to have them.”     

And no wonder. The two teams’ combined sold dollar volume so far this year is in excess of $350-million, Zurini calculates. “If we compare them to other teams on the Toronto Regional Real Estate Board, they would be within the top five teams, and would rank in the single digits within the ReMax top 100 teams in Canada.”   

Both teams are major leaguers, in other words. “I have no doubt that their combined efforts will make for a dominant force in our industry,” continues Zurini, who maintains that consolidation of powerful teams is the next frontier. “I think we’re going to see more of it,” he says, adding that when top teams combine to become more impactful it can create “something very special.” 

Needless to say, with the Regan Team having been among the Royal LePage network’s heaviest hitters, it’s a significant loss for that franchise.

It might never have happened, were it not for Regan’s relentlessness.

The persistence behind the partnership

Irish explains, “Over the years, Matthew and I had met on a few occasions but never really knew each other. In May of this year, he reached out with an offer to meet and chat.”

Initially, she rebuffed him. 

“But his persistence intrigued me,” admits Irish. 

She eventually agreed to get together for coffee, and other meetings followed. They discovered they had different approaches but similar philosophies. Things evolved quickly and before long Regan suggested that their teams might be better combined.  Both of them have had partners before, so this time around they felt they knew exactly what they were looking for—trust and transparency being key. 

“It was apparent to me that Matthew was a visionary,” says Irish. “He had developed an enviable business model with systems and processes that leverage new technologies and business strategies to ensure that clients and agents receive unparalleled support.”

That particular skill set doesn’t come as readily for Irish. The hallmark of her referral-based business has been the “dedicated, authentic and personalized attention,” she gives her clients and agents. She loves to sell and to mentor. “That’s what I do best. I’m not as enamoured (with) the business side.” 

Complementary strengths

After building her brand in the industry for over four decades (“To say things were different back then is an understatement,” she affirms), Irish was feeling drained, struggling to manage her time and a successful team. “Matthew’s systems took care of that,” she explains. “Our businesses aligned…We knew that a partnership would bring together the strengths of both firms…I haven’t been this excited for a long time.”

Regan meanwhile, along with being drawn to Irish’s reputation for excellence (“She embodies the qualities of a person I’d trust with my own home sale”), was attracted by ReMax Escarpment’s commitment to taking the real estate industry to the next level. Broker/owner Conrad Zurini “is very forward thinking and tech-enabled,” Regan notes. “He understands the future of the organization.”

Vision for growth and expansion

With 15 offices across southern Ontario and sights set on future expansion into new regions such as Muskoka and Collingwood, ReMax Escarpment is in sync with the 30-plus member Regan Irish & Associates team’s growth plans. 

Regan looks back with appreciation on his “21 years of incredible success” with Royal LePage. “There is no ill will. I hold them in high regard.”

Real Estate Magazine reached out to Royal LePage for a statement but did not receive a response by the publication deadline.

Among the innovative systems Regan brings to the table are offshore virtual assistants (a “relatively unexplored concept in organized real estate,” he asserts) and a proprietary tech platform.    

“What makes us unique is that we have everything in-house—coaching, training, sales development, marketing, admin, photography, staging, even an in-house concierge,” says Regan, whose focuses include agent recruitment and development. “We care a lot about our agents succeeding…We’re looking for the best of the best. Our company culture is very supportive, inclusive, and also fun.”

Regan believes this merger will create shockwaves, leaving people wondering how he and Irish pulled it off. 

“We didn’t get together willy-nilly. We’re going to do this,” he declares. “Buckle up.”