What company will put your home on MLS for a fee-only?
From Zoocasa Ask the Pro’s Section
Q…..What company will put your home on MLS for a fee-only?
A…. Robert Ede
Some Registrant with almost every Firm will.
This question is the nub of the debate caused by the Competition Bureau.
Let me respond in two parts – Part 2 first
FEE ONLY SERVICE.
It has always been totally legit, legal, okay and widely available you to pay a non-contingency fee rather than a on-successful-completion “contingent” commission.
For the last several (?5-10?)years, if you (as Seller) wanted to pay an upfront fee for a CREA member to place your property on “MLS”tm & thru that wholesale vehicle place it onto the retail www.realtor.ca and offer any amount “more than zero dollars” as a co-operating broker fee, you were/are fully within the rules, regulations and laws to do so.
And so is the Registrant.
It’s just a matter of deciding on an asking price, a schedule of services and the 2 fee/commission amounts.
If the property doesn’t sell then (as per every listing) after a suitable period of time evaluating the 4 decisions agreed at the outset.
Until the Tribunal Hearing occurs (I hear it’s been postponed into 2011) the Rules are in flux.
Locally TREB has existing rules that meet the Law & Regulations of the Ontario Real Estate and Business Brokers Act (REBBA)
Nationally, the Cdn Real Estate Association CREA has ratified changes that were proposed to the Competition Bureau (but not accepted by the Bureau.
Until the Ruling/Dismissal of the Tribunal …. no association is doing much rule-enforcing on members commissions, business models etc.
The question you ask cites the OLD name for the public website operated by CREA as a “retail” advertising vehicle for its members.
The New name is Realtor.ca
The OLD website name widespread created confusion of the retail website with the wholesale “Multiple Listing Service MLS” tm.
Many people (including apparently) the Competition Bureau think the old MLS.ca/New realtor.ca site is Public information.
Many regular folks think it is a public site, and wish access to it (as Sellers).
The Competition Burea sees it as a public site provided by a dominant player.
They think that the Dominant player should be forced to allow anyoneto post info on the site.
The REASON Sellers want to have access to the site is because it’s the “best site”.
The info is current.
The facts are accurate.
There is consistency in the info format and content.
An informed person has input the info under supervision of a firm, a code of conduct, a standard of ethics, Law & Regulation
The Solds are removed promptly.
There is a uniform system for contacting the person/firm offering the property.
The contact person knows what they are talking about.
The contasct person is educated by Law.
The contact person is obliged by law to treat the caller with “a duty of care”.
The contact person is responsible for everything they say.
The contact person is required by law to disclose the various ways (contractual relationships) that registrant can be of service to the caller.
The contact person is accountable to a registerd firm that is accountable to a local association, a Provincial Regulator, a Provincial Registar and the Code of Conduct of each.
It’s the best site, because the best selection is on there.
It’s the best because it’s a subset of the info the Realtor-members use themselves.
AaaaH, a subset.
yes not everything’s on there.
Even though there is no charge to a registrant per listing submitted, the registrants have paid for the infrastructure and system refinements since the mid 1990’s.
So it is not at all unreasonable for a Seller to want to get on the “best” site.
The site where justa-bout every serious buyer starts looking.
No it’s perfectly reasonable.
Now we’re just quibbling about:
a) who should answer the inquiries;
b) who should be responsible for the integrity of the data entered;
c) who should be responsible for giving info the the caller (is it “caveat emptor” or “full seller disclosure” or somewhere in-between)
d)who can be sued for doing wrong;
e) what’s wrong and who’ll enforce it;
IF a registrant is the Listing Broker …. we know all the answers. If not …. all the questions are murky. (never mind the answers)
AND OF COURSE … how much should it cost? i) Registrants point of view & ii) Sellers point of view.