MLS and the News

I'm sure you've heard plenty of interesting views and opinions in the media in recent days regarding the amendments that the Canadian Real Estate Association made on Monday. It's all very confusing and complicated. And unfortunately, the media has reported a number things that just aren't accurate. Basically the controversy has arisen through the perception that consumers don't have choices. An interesting perception, but is it really accurate?

To be clear, you have always had the opportunity to sell your own home. That has not changed. That is your legal right and there are certainly plenty of advertising sites and companies out there who are more than willing to assist you in that. The government has stipulated that in order to participate in brokeraging buying and selling property you must either own the property or be a licenced Realtor.

You also, have always had the opportunity to seek out different services from different Realtors at different prices. The Canadian Real Estate Association, The Ontario Real Estate Association, Re/Max Twin City, my boss, other Realtors, not even my husband ;) has ever stipulated how I, as a Realtor run my business. I set my own fees and offer my own services. For as many agents that are out there, that's about how many different business models you'll find.

The MLS system is a system that has been built up and developed over the years by REALTORS, through their fees to the Canadian Real Estate Association (CREA). It's not a public system. It's a regulated system which presently can be viewed by the public and used by anybody for a fee by using a Realtor who is obligated to be a member of a local real estate board, a member of the Ontario Real Estate Association, and a member of the Canadian Real Estate Association. And as you can imagine, none of those mandatory memberships come free or cheap!

One of the benefits of the MLS system is that there is a high degree of integrity in the accuracy of the information on it. An accuracy which is highly regulated and for which Realtors, who are governed by a Code of Ethics, are held accountable for. Again, the integrity of the information which makes the MLS systm so reliable is something that comes at a cost.

Property owners have the choice to sell a property themselves, using their choice of methods, they have the choice to use a plethora of different Realtors with a huge variety of different business models. The reality is that things don't come for free. One cannot expect to receive all of the benefits of working with a Realtor without some compensation.

In my opinion, the world of real estate is constantly changing. That's nothing new. And it will continue to change. Therein lies the reason that Realtors are constantly taking courses, researching, and educating themselves in their areas of expertise. There will always be those who choose not to use these expertise, but for those who do, there will always be a cost. That's just as much a reality as change is. And there's my rant for the day! :)

If you have any questions at all I'd love to hear them and I'm always more than happy to research the answers to them! Thanks!
krista@jonkerteam.com