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Simple answers to Complex Questions and Complex Answers to Simple Questions. In real life, I'm a Greater-Toronto (Canada) Realtor with RE/MAX Hallmark Realty Ltd, Brokerage. I first joined RE/MAX in 1983 and was first Registered to Trade in Real Estate in Ontario in 1974. Formerly known as "Two-Finger Ramblings of a Forensic Acuitant turned Community Synthesizer"

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Thursday, November 11, 2010

Competition Bureau & announced MLS(r) Rule Changes

Summary from bottom of page

Agency law is going to be tested on this "mere-posting" model --


My question ...How can a Listing Broker step-into agency when it loads a listing ...then step-out of that agency again. Only to step-back into agency to edit/report the sale?

Agency is either IN or OUT isn't it?

Another question ..... If (in Ontario) we can become bound as an agent-for-a-buyer by behaving as an agent (giving advice etc) via an oral or implied agreement .... how ..... can the mere-poster-brokerage step-in-and-out of a written agency agreement?





Competition Bureau etc

The media reportage of the Competition/Crea agreement has been the biggest problem.

The second problem was confusion between the previously similarly-named MLS(tm) wholesale service and the ultra reliable sub-set of that data on www.mls.ca.

Prior Posts
Nov 2/2009 -Competition Burea -Attacks MLS(r) .... again
Sept 11/2010 -What company will put your home on MLS for a fee-only?



IMHO, I think even the Competition Bureau staff had the two confused/intermingled and presented THEIR case that way.



I believe these changes will:

a)increase the correct use of the Buyer Representation Agreement (Ontario Term for Exclusive Buyer Contract)

b) increase the correct use of the "pre-set" fee portion of the B.R.Agrmnt

c) reduce commissions "offered" by some Seller/Agents in the short term

d) quickly prove the relative value of the "co-op broker" portion vis a vis the "listing portion"

d) quickly prove that there is not enough business volume to sustain many firms at ultra-discount listing fees

e) impact the "Team" model of Realtor(tm) operations most dramatically

f) quickly prove that this "ultra-discount + very limited service" model was more applicable to the boomtimes of 2002-2008

g)create great competition for a diminished supply of listings

h) impact buyers very little

i)backfire on some private sellers who will be inundated with individual Realtors(tm) wanting to pre-negotiate individual co-op fees (form 202) prior to showing and/or presenting offers, instead of opting for the "less than zero" mininal compensation sum  (NB as already specified in the CREA Compensation Pillar, prior to the Competition Bureau "investigation" and the just-reached subsequent Agreement.



and quickly become a non-issue.

BUT
i)
the ramifications of an Ontario Realtor(tm) taking a listing in Manitoba (on a "mere-posting" basis) IS significant.

Did you ever wonder why our Registrations are only for One Province?
- just like lawyers and several other jobs/skills/professions - it's a intra-provincial trade barrier

Examine the BNA Act 1867 and you'll see the Section 94 & 97 provisions for unification of the laws regarding Property and Civil Rights in Ontario, Nova Scotia, and New Brunswick, and of the Procedure of all or any of the Courts in those Three Provinces,

Quebec IS different a la the Quebec Act 1774 .... but that's another whole discussion.

BUT

ii)
Agency law is going to be tested on this "mere-posting" model --
My question ...How can a Listing Broker step-into agency when it loads a listing ...then step-out of that agency again. Only to step-back into agency to edit/report the sale?

IN  or OUT isn't it?

If (in Ontario) we can become bound as an agent-for-a-buyer by behaving as an agent (giving advice etc) via an oral or implied agreement .... how can the mere-poster step-inand-out of a written agency agreement?

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