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Battle ain’t over – Bureau now after the MLS data



BuzzBuzzHome

Oct 20, 2010

The Canadian Real Estate Association just voted in favor of a deal reached with the federal Competition Bureau to open up the Multiple Listing Service (MLS) by allowing brokerages to charge consumers a minimal fee to post home listings on the website without having to use any agent services.

Many see this ratified deal as story over for the Competition Bureau vs. CREA soap opera but this may not be the case. According to the Globe and Mail a new fight threatens to break out over the way CREA handles the data generated by each sale on its MLS.

Industry sources say that the Competition Bureau is now examining whether the data agents generate and keep in the password-protected section of the MLS should be made available to anyone listing with a flat-fee brokerage.

Prior MLS sales data is valuable because it helps individuals selling their home determine what their property is worth. The info includes things such as prior sale prices, comparable sale numbers and days-on-market data.

Without making this data more freely available, sellers purchasing flat fee listings are still reliant on agents. The new changes to the MLS by CREA enable some additional options for purchasers and brokerages but by no means do they alleviate the stranglehold on real estate data.

Battle aint over.

Posted on October 30, 2010 | buzzhomeblog Posted in Uncategorized |
  • Anonymous

    Wouldn't this type of access compromise privacy? If a non professional can have unlimited access with having to comply with privacy laws where does that leave anyone who does not want the price they sold their home for open for just anyone to see.

    Registered sales representatives have privacy laws to comply with, you cannot open this information to the public for one low price!

    I think CREA should rebrand it's listings venue, make one just for professionals, who pay for this through their dues, and let the public have MLS if they want. I thought that's what MLS was, a service paid for by Realtors for Realtors. Apparently not.

  • Anonymous

    crea knew that this was impending and did not disclose to membership..sabatoge

  • Anonymous

    so true we are led by fools or worse ..it is time for all boards to delink from crea and then they no longer fall under federal control

  • Anonymous

    Firstly, the information is already available to anyone listing their home for sale "limited service" brokerage or otherwise – if this is one of the services they choose. Interpretation of the data for the customer creates the agency relationship.
    Secondly, the sale prices are already a matter of public record as soon as the title has been transferred from the seller to a buyer. It is available from the city or provincial land titles – an agent is not needed for this simple thing.
    Bulk access is one of the services that agents do charge for. Let the "limited service" brokerages/agents (who do have access to the information for no additional fee) also charge for this as they do for signs, photos, lock boxes, phone calls, brochures, etc.

  • Brandon

    Re: Anonymouse October 30, 2010 2:50PM
    "….MLS was, a service paid for by Realtors for Realtors.."

    Actually, its paid for by SELLERS COMMISSIONS, and SELLERS PROPERTY SALES INFO. There are too many hands in the cookie jar.
    Just think of all the Sellers whose commission payments pay to buy and build all those large expensive Realtor Board Buildings, CREA property, and extensive CREA legal fund which will be used to fight the Competition Bureau.

    That is a lot of $$ that didn't add to the Sellers bottom line.

  • Anonymous

    RE: Brandon with all due respect Brandon; I am a realtor and I can tell you that we have enjoyed all those succulent commissions, and like all declining empires we like to build edifices, but you are wrong about CREA legal fund. Crea does not fight for realtors they rather roll over in defeat whenever the Govt dog barks. Like all inept leadership they just pretend to battle and like sheep realtors put up with it. So much for the proclaimed competitive nature of the real estate business. Consequently realtors are going to endure a culling like they have never seen in any recession. Watch as the franchises fall. It was quite a feast while it lasted.

  • Anonymous

    Re: Brandon October 31, 2010 5:32 AM

    Actually… it's the BUYER that pays! It's a portion of the purchase price! Once the home is sold it's the Buyer's Property Sales (somewhat private) Info – not the seller.

    If there are no commissions, the BUYER saves and the seller NETS the same.

  • BuzzBuzzHome

    Hello Brandon, and Anonymouses!

    Great conversation going on. If interested, please feel free to take it to The BuzzBuzzHome Forum.. it might provide a better forum for the debate.

    http://www.BuzzBuzzHome.com/Forum