February 20, 2009 -- In recent months the world has come to recognize the significant effect that the housing market has on our global economy.
In Ontario, it is estimated that that every resale housing transaction generates more than $33,000 in economic spin-offs on items like renovations, furniture and appliances. It follows therefore that what's good for real estate also benefits our communities.
In the spirit of fostering our communities, the Toronto Real Estate Board operates an annual scholarship program to provide two young people with $5,000 each for the upcoming school year at a post secondary institution of their choice.
If you have a friend or family member who is graduating from high school this spring, please encourage them to apply before this year's April 17th deadline.
Scholarships are awarded based on a 500-word essay submission, which is evaluated by a panel of judges.
This year, applicants are invited to compose essays on the following topics:
What initiatives would you like to see embraced by government and
real estate developers to help create environmentally conscious
communities in the GTA?
How will GTA real estate be impacted by rising energy costs and
uncertain international economies?
TREB's scholarships reaffirm the importance that REALTORS® place on continuing education. All real estate professionals in Ontario are in fact, required to complete at least 24 continuing education credit hours every two years.
As a result, last year alone TREB offered 1,036 technology training courses and education seminars, which drew a total of 33,465 real estate professionals.
On a regular basis, your REALTOR® stays up-to-date by attending sessions on legislative requirements, effective marketing practices, and the latest technology, to name just a few. And recognizing the tremendous promise that Generation Y holds, TREB is currently exploring innovative ways to specifically address the sophisticated needs of new, young professionals in real estate as well.
In addition to TREB's scholarship program, Greater Toronto REALTORS® also recently undertook another opportunity to support young peoples' educational pursuits. With an initial installment of $50,000 we recently announced a long-term commitment to a children's breakfast program called Feeding Our Future. Operated in conjunction with the Toronto District School Board, the program provides nutritious breakfasts and snacks to 1,700 Toronto students each school day. REALTORS® further support the program by volunteering to serve and clean up after the meals.
Volunteering is another way that your REALTOR® contributes to the enrichment of our city's communities. According to a survey conducted by the Canadian Real Estate Association 69 per cent of REALTORS® do so which is more than double the national average.
The real estate profession has a long history of demonstrating its sincere desire to see others in the community succeed. The REALTORS® Care Foundation for example, was established in 1967. Through the REALTORS Care Ontario Foundation we contributed $165,000 to 19 different charitable organizations in the Greater Toronto Area last year alone.
We're also currently working on sponsorship of our third Habitat for Humanity home in the GTA, we have raised funds for the Salvation Army and we have made contributions to the most heartbreaking causes like the burn unit of the Hospital for Sick Children.
All of these efforts are undertaken because we believe in a bright future for Greater Toronto communities for many generations to come.
To learn more about the Toronto Real Estate Board's scholarship program please visit http://www.torontorealestateboard.com.
Maureen O'Neill is , a professional association that represents 28,000 REALTORS® in the Greater Toronto Area.
