I thought I’d take this opportunity to state my grievances about our current real estate industry.

I’ve read some of the REM articles and felt compelled to send this to you. I have forwarded my ideas to CREA, OREA and to the real estate brokers and business ministry, whenever there is an invite to “give us your feedback” but I never ever hear anything back. So I’m picking on you.

Lately I have read some your articles regarding our current market and of course how unfair it is to buyers. I felt even REM misses the point.

We need to do the following:

1. All offers should be disclosed to all buyers just like a real auction. 

That’s transparency and it works for everybody. Also, why can the listing agent see all offers when he has a buyer who is offering? That’s not right at all. Why does the rule even exist that terms of another offer can not be disclosed to other agents/buyers? This should be wide open. Transparency.

2. Home inspections.

This is another annoying thing. We cry that buyers are unprotected when purchasing a home in a competitive multiple-offer scenario. Why don’t we just make it a rule that all sellers must have a home inspection report made available?

What’s so hard about that? It solves a lot of problems. It’s total rubbish that home inspectors will not assign their report to another person without consent. Once a buyer pays for it, why can’t they share it? I’ve heard all the reasons when engaged with home inspectors. Final question is always, why would the report be any different?

These two simple changes would make a world of difference for both buyers and sellers. Without them, we will continue to under-list homes and reward our buyer with multiple offers with no conditions and place the buyer at great risk, which can so easily be avoided.

It’s not us, the Realtors, who are making it easy for ourselves to sell a home – it’s the lack of meaningful rules.

There are many other things we need to change. I have a list of things that would make this industry a much better and fairer place for buyers and sellers. For example, Realtors who cut commissions but take the reduced portion away from the selling agent without disclosing the consequences to their vendor. And Realtors who win a listing by overstating a realistic selling price and signing the vendor to a long-term listing, from which they can not escape even though the listing has no chance of performing at that price.

Our industry can easily change for the better for everyone. It’s not that hard. We just need sensible people making sensible rules.

Chris Staeger
Royal LePage Triland Realty
London, Ont.

87 COMMENTS

  1. I get a big kick out of Realtors calling themselves “professionals”… I will clarify for any of you that think this is true.

    A PROFESSIONAL GETS PAID REGARDLESS OF OUTCOME! (Has that ever happened to you?).

    The patient dies on the operating table?… the Doctor gets paid! The criminal goes to prison for life?… the lawyer gets paid! Keep that in mind when you call yourself a professional realtor.

    As far as inspections… Number one: When an offer came in with just “Home Inspection by such and such a date”, we would counter “By a bona fide inspector” (Not Uncle Joe). Period.

    We had an inspection company that carried insurance for error and/or omissions… if something missed or declared okay failed within a reasonable length of time (3 to 6 months) it was covered by the insurance. These inspectors were more expensive but what’s a few bucks when you are talking about big bucks?

    We used this inspection company all the time AND would get the Sellers to have the home inspected, make this inspection available to view by a prospective buyer AND the option of the Buyer getting this same inspector to reinspect the house with (or for) them renewing the insurance date with a fee becoming their representative.

    It always strikes me as funny in Toronto and Vancouver (and for years) with an unusual number of homes selling in multiple offers over (and sometimes way over) list price. We were NOT allowed to start an “auction” WITHOUT the Sellers knowledge and with good reason… Good reasons were things like the Seller taking a job in another place where a prompt sale was required. To intentionally underprice a house to create an auction was an absolute no-no!

    Another thing (NOT MENTIONED) is offers coming in subject to the sale of another home!… We would NOT accept such an offer if the offer was coming from a FSBO and if it was out of town we’d add our own condition to see that the house was priced within market price. This would often as not see the condition removed.

    As far as “double enders” went… we didn’t present these offers… we had a third party do so. Period.

    I had a full price offer on a small apartment once… the other realtor informed me when I called that he also had an offer and would present them both. I sat with him and his client and presented my offer and was asked to wait outside while the other offer was presented. He brought my offer out to me and said it is countered… I looked at it and (as Ripley would say) “believe it or not” it was countered DOWN in price! He had convinced his Seller that the building would NOT appraise at the full list!

    I took it back to my client (who I knew quite well and had dealt with before) told me to forget it, left my office and I never saw him again! BUT, soon after my client had left the other realtor (I use lower case for bad people) called and told me that his “buyers” backed out when their offer was accepted with no counter and if I had the counter signed… I told him what I thought of his STUNT and his ethics and that my client blamed the whole mess on me… by the way, that building mysteriously burned to the ground a couple of weeks later.

    For your interest, I went into Real Estate in August of 1984 and retired in 2007 (and very well by the way and with a clear, clear conscience!) and my wife who has been a Realtor since 1976 (younger than me) is still practicing and do exceptionally well here in Mexico where we moved to in 2012… 45 years and that is 45 years experience… NOT 1 year experience 45 times!

  2. Interesting idea. How about everybody post their bank account monthly statement on line, and post their income tax return on-line, for everybody to see. Some people will oppose that.

  3. Thank you for this, Chris. I am a newer Realtor and I have already seen many deficiencies within the real estate industry. I am glad you spoke up, as you touched my main concerns. Cheers.

  4. Thank you so much for putting your annoyance in writing, Chris! As a mortgage broker who mitigates the stress the conditionless offers put on purchasers I celebrate anything the Real Estate industry can do to protect buyers. I have a big warning for the Real Estate industry – if you do not find ways to protect buyers, be ready for government regulations to do so. Please be proactive!

    • Interesting comment: “As a mortgage broker who mitigates the stress the conditionless offers put on purchasers…”

      Does this mean you’ve been asked in sevral instances to source financing on offers made without a financing condition and without your okay to do so?

      If so, this is a great topic worth exploring.

    • I agree with you on that Kim. I have been licenced for 41 years and we need to clean this industry up. How about starting with cancelling licences of really bad actors….for good and not to take a course or two then back at bad acting again. I am not talking about a late deposit here, I am talking about the fraud we see. It is ridiculous that we continue to see the same names AND Brokerages involved in deceitful practices. Start cancelling licences and bingo, most of the problems disappear. Having a RE licence is not a right, it is a privilege. This would not only protect the public but would eliminate SOOOO many problems created by unethical agents and the brokerages that harbour these same agents

  5. The is a need to put Broker or Record in control of their Brokerage and sales staff The Realtors to understand they are work for a Real Estate Brokerage.

  6. Here is a thought. When a new subdivision is being built, investors and speculators purchase the lions share of the inventory. That leaves little for the regular family. Furthermore, Investors and speculators do not care much about the price on resale homes, as the rent collected will cover the mortgage. Until our government get a handle on the amount of investment properties being purchased we will always be in a low supply market.
    When one person(or numbered company) owns three, or five, or 10 properties and more , that leaves very little on the market for a young family trying to purchase their first FAMILY HOME.
    And THAT is the real shame with this whole thing.

    • Without Investors, there are no developments you do realize that right?
      Most Families don’t buy new developments that are 3 years away from being built.

  7. Thanks, everyone for your comments

    It’s time to change the REAL Estate Brokerages role when acting for the Public.
    When the Real Estate Brokerage offers the owners Real Estate for sale. The listing agreement would be an exclusive contract between the seller (owner) and the Sellers Real Estate Brokerage and Realtor.
    This Brokerage will only represent Sellers.

    When the Brokerage has a client that wishes to purchase Real Estate. A contract with the buyer must be sighed between the Buyer and the Real Estate Brokerage and Realtor. Spelling out the terms including the fees to be charged by the Buyer Brokerage to the Buyer.

    Marketing companies need to be monitored when advertising Real Estate

    Covid-19 is not here to only deal with Health. It’s here time to stop and look at what we are doing with life.
    A single-family home is quickly becoming only for the rich.
    We need to put the Broker back into control of our Profession

    Good Luck IREBA

    More is not in the best interest of everyone
    To

  8. Paul Cooper ~ Pemberton Holmes writes:

    In BC we cannot bring a buyer to our own listing as we have a ban on “double ending.”
    Bringing an offer from an “unrepresented party” by the listing agent would be heavily frowned upon and would need to be disclosed to the other buyers. If it did happen the listing agent would not be able to disclose other bids to that buyer. This would constitute “implied agency” and we are back to “double ending”.
    As for inspections, we often see a “pre-inspection” done by the seller. If you did not wish to rely on it, you are welcome to do an inspection of your own before you make an offer.
    Thank you for sharing your concerns.

    • I agree with not being able to double end and listing. The seller hires you to get the best price for their home and the buyer hires you to represent them and get them the best price. Also this should be in place for teams selling their listings as well.

  9. No to the auction. If this seller’s market and tactics is unfair to buyers, why is switching it to favour buyers not unfair to sellers? This is market dynamics where a seller’s market favours sellers, a buyer’s market favours buyers and a balanced market favours the best negotiators – negotiation has been awol for 10 years. Secondly, the Australian auction system is grossly misunderstood. Not only does it require no conditions as someone else noted, it is also not always an open bid because a reserve bid is often involved so the buyers have paid in advance for their inspection and their auction fee registration and everyone can still lose.

    Some Realtors even long time Realtors believe that the smaller the list price is to actual market value the greater the sale price. This is false. It may increase bids by those who think they might have a chance the seller will sell for their low-ball bid but the informed and serious buyer regardless of whether a property is priced at 98 or 50% of market value already know where their minimal price offer has to be and what the maximum is that they’re willing/can afford to pay where their offer, as with all offers, depends entirely on how theirs and listing Realtor handle the process.

    To the person who asked about listing agents deducting 1% from the co-op commission offered if they initially showed the buyer the property, this is not the listing agent’s call since it must be agreed to with the co-op agent and seller. Also, RECO does not condone this practice, not sure if boards like TRREB care that it seems to override rules R-108, R-304, R-710 and R-740. Any agent pulling this stunt should either be reported or sued.

  10. Isn’t it odd that it is the real estate industry that created all of underpricing, withholding of offers. bully offers, multiple representation and it is the real estate industry which complains about all of those things? If a Realtor is doing the above for their sellers they have no right to complain about the process for their buyers which they themselves are perpetuating.

    The solutions are simple, the problem however is that organized real estate is run by Realtors. They are:

    Every listing price should be made to come with a disclosure of the market value and the properties used to determine the market value. This will not only reduce the amount of tire-kickers infringing upon sellers it will also eliminate a number of buyers who know they have no chance at success, wasted time and unnecessary paperwork and stress. A seller utilizing an agent for any purpose including listing as a FSBO, should not be allowed to set an offer date and also an offer anytime date which is what accepting a pre-emptive is – this is just stupid! Listing Realtors or their team should not be allowed to represent the buyer nor get a referral fee for referring that buyer to bid on their listing and most definitely, the listing agent should not be allowed to reduce the commission.

    • PED:

      You say “…the problem however is that organized real estate is run by Realtors.”

      Agreed.

      I’ve read all of the comments submitted herein so far (as of 5:46 p.m. April 2), and yours are the only ones that go directly to to problem, being: Realtors, real estate boards, provincial associations and CREA are guilty of “double-speak” (George Orwell’s description of dictatorial propaganda as spewed forth in order to confuse and subsequently indoctrinate the masses for the purpose of control over said masses, with “double-speak” being words used as the opposites of what they originally meant). Thus, everyone is confused about what to do regarding certain societal and ethical problems, and few have any idea about what to actually propose that might actually work for all concerned across the board. Such is the current unbalanced-market case with real estate transactions as conducted by real estate sales people controlled by other real estate salespeople, former salespeople and no-experience bureaucrats with no skin in the game. So what’s the answer?

      I like your suggestions. Good old common sense ought to replace “double speak”, that is , rules that confuse, rules that don’t work when the sailing gets rough. Any fool can sail a boat on calm waters. Any Realtor can transact a sale when the market is balanced. But just any Realtor can’t acquire the limited prospects in the first place due to the never-ending imbalance of the Realtors-to-clients ratio. The quest for limited numbers of clients is where the shenanigans start.

      FSBO’s can do whatever they want re selling their properties. But most use Realtors to reap the benefits of an unbalanced market. The key word is “use”. Sellers know a certain Realtor will milk the buyers, and likely do what they would not. Realtors smell the big cash. They do whatever it takes to make in a month what they might normally make over a year. But they don’t like being frozen out of the buying process currently…unless they win. As usual, there are many losers and only a few winners. Current rules are rendered impotent.

      Maybe it’s time for other-than-Realtors to set the rules for Realtors’ behaviours. No one can set rules for the public’s behaviour when it comes to selling their residences. Sellers can ask whatever they want, and essentially do whatever they want within the confines of the law. But Realtors should not be able to manipulate things to the extent of being willing participants in carnival-barking schemes designed to pre-emptively lock out trusting public participants. What is going on nowadays is precisely why the public holds such a dim view of “real estate agents” (of which i am formerly one) because it is the “real estate agents” who come up with the ways and means of taking advantage of unbalanced markets…for themselves. They’re only human after all, and the quest for scarce resources is what creates the free-for-all syndrome that ultimately gravitates toward the greed quotient.

      PED’s right.

      • Brian: Excellent comments! 95% of all the issues in the real estate industry comes down to one problem – there are just too many Realtors. It is impossible for any broker in an office supervise hundred’s of agents. The real estate business is out of control. They should only allow so many Realtors per broker in an office. Say 1 full time broker for every 20 sales associates. That may help solve the problem. D

  11. It works many ways, local Realtor’s board listings can’t be seen by out of area buyers realtors either, they may have a buyer willing to offer more than a local, One provincial MLS system is the only fair way for anyone anywhere in the province, that we are licenced to work in, has access to the info instead of multiple local board databases this would cure any problem, you can still have local boards but only one MLS database.

  12. This may have been stated already but here goes anyway. Representing buyers especially in this unbalanced market can be a royal waste of time, effort and money. Making offers that go nowhere searching for properties with unrealistic pricetags. Why not command a Buyer Retainer?
    Buyers pay a fee for service to the Buyer Brokerage. If a property is purchased and closed, the retainer is deducted from the commission. If there is no purchase, the retainer is non-refundable and is paid to the salesperson to cover his/her costs. This whole “work for nothing unless a deal closes” really needs a wake-up call. What other profession does that?

  13. I started 34 years ago. Properties are already selling for more than they should. We need a Canada wide 40% foreign buyer tax. A wide open auction would serve to increase the sale price. I agree about the home inspection.

  14. Some of us here seem to be making the point about a standard commission. If you want the competition bureau crawling all over our industry, again, kept up with these types of ideas.

  15. And my real gripe are listings without room measurements … what’s up with that? The agent is so lazy that he/she can’t spend 5 minutes with a tape measure? And what about fuzzy photos, or photos of toilets, or photos that are too small to see? All these can be enforced by modifying MLS rules.

    • Time to STOP. THINK, PLAN
      We all Forget the Real Estate business belongs to the Brokerage, The Broker of Record.
      Over time the Broker of Record has been left out of the Direction the Real Estate Profession has taken.
      The vote and many of the changes that had been necessary as the Real Estate business changed from a Profession to an Industry and Marketing Business. The vote direction was being made by the Realtor. The Realtor was looking at personal income. Not a business image. Realtors work with numbers, Too many Realtors For a Brokerage to manage. Many Brokerages work on a number of bodies collecting monthly fees. Many Realtors receive their business by telling the Public they are number one when their reported sales are made up of a team of Realtors. Others say they can get you more $ for your home with their marketing Program. Other realtors ( Agents) Put your property for sale at a low price incurring a bidding war this is not professional and may not be approved by many Brokerages. I could go on about what has happened to Real over the last 50 years. One thing for sure we were not looking out from the families in our future, ( Only a few,) At this time Covid 19 has given Realtors an opportunity to have a break. All Professional Real Estate Brokerages in the future may operate with A Broker Of Record and 25 Realtors. The public would be better served. The Real Estate Business would Be a marketing Industry Motivated by a Franchise.

    • I know for a fact that agent leave off room measurement on original listing and add them one at a time to get re-runs on the hot sheet as an update. Years ago before mere postings, it was considered as in complete and could not be uploaded. This changed for the mere postings when agents never go in the house. TTREB and all other boards should make more mandatory fields like room measurements, age of home and square footage. All this information is available to us.

  16. Rule changes can’t be in conflict with common law, contract law, and our basic free enterprise system.

    A previous Ontario government proposed that all houses had to meet certain minimum standards before a sale could take place. That meant you could not sell a fixer upper. The RE industry lobbied hard against that, and it was defeated.

  17. I can see a lot of agents are upset on here and understandable with the current market conditions. It’s extremely frustrating when you have buyers that keep losing out on homes, it sucks. This is early 2017 all over again for some of us, my opinion might not be popular but here are some thoughts on your points.

    1) We are not auctioneers, so I don’t believe in an open style of bidding with the buyer knowing what the other offers are. As a sellers agent we work in the best interest of our clients. If one buyer wants a property so bad that they are willing to pay the moon for it, let them. In an auction style bidding war you wouldn’t get the same result, nobody is going to over bid by $100k if they know they could outbid by $5k. To me the onus is on the buyers agent to educate their clients to know the value of a home they are purchasing. I do agree that listing agents should not be listing a home so grossly under value, like $799,000 when the comparable’s are $1,200,000. That to me is bad judgment when you don’t always get way over the 1.2mil or even get the 1.2mil.

    2) Home inspections are to protect the buyers and should be done buy the buyers. As a sellers agent you are not protecting your clients by having a home inspection done as all home inspections are different. I had a home for sale and it took 7 home inspections before I got a firm deal, all 7 inspections had different issues, not 1 had the same issue. That was before all these multiple offers in my area or if you got multiple offers you would be lucky to get $2k over asking. This told me that not all inspections or inspectors are going to find the same issue. So it’s up to a buyer to do the inspection, buyers should be doing pre inspections before placing an offer.

    3) On Multiple offer situations when you have an offer from the listing agent, that agent should not be presenting to the sellers, should be your BOR or office manager that sits with the sellers. If it’s an agent in your office bringing an offer then you should contact your BOR for advice. I have over 700 agents in my company so don’t know most of them.

    4) Co-op commission when the sellers offer less than 2.5% is my biggest pet peeve. Listing agents should not be negotiating the co-op’s agents commission. If you want to cut your commission that’s fine but don’t touch mine. It does effect the sale in some circumstances, as many agents won’t show the home.

    5) Over pricing to get a listing has always been an issue. It’s the sellers decision to go with who they feel most comfortable with. If an agent promised the moon and can’t deliver then that’s on the seller for hiring them. The same can be said for someone who under prices everything and doesn’t get what the comparable homes sell for. Also those with a coming soon sign that sells it before it hits the market and gets way less than what they would have gotten if it was on the market. I’m learning to say that’s on the sellers for hiring and believing in the agent they hired to represent them. They get what they deserve and they likely don’t know better. It’s up to agents to be transparent with their clients and work in their best interests always.

    6) I’m adding this, with the current market conditions and dealing with first time home buyers. I’m reluctant to push them to buy until this crazy over bidding stops. Buyers are paying a premium right now and once we actually hit normal inventory these prices won’t stick. The public focuses on the asking prices and with the majority of the agents underpricing, when we balance out, buyer are not going to be rushing to buy at a premium price. You don’t jump 25-50% in one year and stay there. 2017 is still very fresh in my mind and government intervention caused a 20% drop in my area pretty much overnight, April 20th 2017.

    The pandemic has caused the low supply of homes with many fearful to actually sell, I have many on the sidelines waiting for the pandemic to end. Once the majority are vaccinated and life starts getting more normal again, I think we will see an influx of listings and prices will come back to normal as long as the economy doesn’t tank. There are so many variables that can change this market and like we all say we don’t have a crystal ball to see in the future.

    Most of the naysayers of our industry are ones who don’t own a home due to affability and think realtors are to blame for inflation. Just ignore it and keep working for your clients best interest.

    • Copied from REM post… in part
      “4) Co-op commission when the sellers offer less than 2.5% is my biggest pet peeve. ***Listing agents should not be negotiating the co-op’s agents commission.*** If you want to cut your commission that’s fine but don’t touch mine. It does effect the sale in some circumstances, as many agents won’t show the home.”

      (See ***’d sentence reference in particular…)

      It’s hard to know if this is the “consultant for life” Rod, agent as described on the web, having many years’ experience… I fail to understand how cutting commission, as per the listing agent, affects the commission “earned” by the buyer agent brokerage… what does the actual buyer broker contract say the co-op will be paid? THAT controls what the buyer rep will be paid; the listing doesn’t necessarily speak to exactly how much the buyer rep will be paid in total. The listing merely states the “portion” the seller is prepared to contribute.

      Are listing agents still splitting fees 50/50 like the BOR’s “dictated” must be done? Back in sub-agency days? Is the buyer not deciding how much his rep will be paid? And if the listing co-op fee portion is not sufficient to cover what the co-op feels he is worth, is it not protocol to have his buyer make up any difference?

      Are buyer broker contracts saying that the co-op will be paid “whatever it states on the listing?” Surely not.

      If so, then how can a buyer rep complain? Are buyer reps still working without a buyer contract? Just curious. Are you the broker of record or perhaps the company or franchise owner – with 700 agents in your mandate… ?

      Respectfully
      Carolyne L 🍁

      • Carolyne L, yes selling agents should be offering the 2.5% to buyers agents every time. I can’t help if a sellers agent can’t negotiate a fair commission for themselves. If you’re truly working in your sellers best interest then you would take the hit yourself. Many buyers would not pay the extra commission to a buyers agent. If you told a buyer that they would have to pony up the extra commission they would tell you, I don’t want to see that house now. I’ve never asked a buyer to pony up the extra .65% on a military move but I have also worked for military sellers and offered the 2.5%, and took the hit on the selling side. My favourite is when agents say that’s what’s offered and it has to be that way. I’ve worked with military sellers and you can split the commission anyway you like. I will go directly to the agent and negotiate my commission prior to placing an offer if they are offering less than 2.5%. Many agents are cutting to 3-3.5% to win the listings, that’s the reason for skimping on the buyers commission. In normal market conditions I know they are the worst negotiators.
        I’m just a sales representative, no interest in management. Keep offering 2.5%

        • You made some very valuable points Rod in your first post but this talk of 2.5% is hogwash!

          Really, you won’t press your buyer client for 2.5% in order for them to hire you and and represent them as a fiduciary but you want to force a third party who owes you nothing and is not your employer to pay you 2.5%? Carolyne was gracious about it than I, but there is not much logic in such a position.

          One last thing, you will gladly represent a buyer on a $500,000 semi at 2.5%% for $12,500 but you will balk at representing a buyer on a $625,000 detached across the street for 2%? While this type of comparison is often misused and abused by the general public, when the effort is weighed against the price levels that accommodate the majority of buyers for typical properties, the commission percentage argument holds absolutely no water.

          This talk of compensation and of forcing compensation levels and even of limiting brokerage operations is anti-competitive and is as said elsewhere, what has prompted the Competition Bureau to bring the hammer down on the industry.

          • I stand by the 2.5%, and the reason is if you actually want to represent your seller’s best interest, then you should be competitive with the Co-op commission. Offering a lower commission tells the buyer’s agent that the seller’s agent negotiating skills are poor, as they couldn’t even negotiate their own commission. Of course in the current market conditions, this is less likely as multiple offers rule the current market. Luckily there are few who do this.

          • Rod, that is a weak argument usually repeated because it sounds good and the industry being what it is – copycat – no one ever calls it out. I will and this is the error in it:

            You offload to the listing Realtor the responsibility to negoatiate your fee and then insult them as not able to negotiate their own fee because you presume the fee offered to the co-op brokerage is not to your liking, while you refuse to negotiate your own fee with your own buyer client.

            Do you expect the listing agent to negotiate on behalf of your buyer also? Seems to me if you want 2.5% as a buyer agent, then the skills necessary to negotiate that from your buyer rest with you, not a thrid party. That leaves you to do the job they hired you to do – find the property that suits them regardless of the co-op fee.

            That is what I do, Rod. If a buyer doesn’t wish to compensate me for what I feel I’m worth, I won’t represent them and know what Rod? I must be a great negotiator, I’ve never had a buyer object. That leaves me free to introduce the buyer to every property that meets their criteria even if the commission offered is one cent. Fulfilling my client first fiduciary duty – cool concept eh?

            For the record Rod, fees at one time were commonly 8% then 7% then 6% before the 5% if you double your 2.5%. So by your logic, all the Realtors who caved to the lower rates have poor negotiating skills.

        • Rod;

          When you say you “…took a hit…” re agreeing to accepting less than the 2.5% commission ‘due’ to you in the first place, you insinuate that that commission rate is cast in stone, an industry standard, which of course you know is not true. When a Realtor tries to influence a seller or buyer to choose him/her, said Realtor is trying to get hired by his/her potential boss. The seller/buyer calls the shots. The seller/buyer offers a Realtor a job on the seller’s/buyer’s terms. Many consumers fail to recognize this truth, because many Realtors perpetuate the myth that they—Realtors—are in charge. They are not. Thus, it is up to you, as a Realtor, to honestly state the truth about what your job description is—-as I’m sure you do—apart from how much you would like to be paid for your efforts. Throwing out the 5% number—i.e.; the much vaunted 2.5/2.5 split—as the holy grail of real estate commissions is flat out an indoctrination tactic. You will receive whatever the well-informed seller/buyer chooses to pay you, or you will decline the job offer if the pay rate doesn’t jive with your expectations. The key descriptive words vis a vis consumers are “well informed”. That is the free enterprise system operating as it should. Methinks far too many consumers remain less than well informed in this arena thanks to O.R.E.’s individual participants’ ongoing efforts to conceal the truth about commissions and how much is enough. It’s easy to negotiate a 5% commission when most everyone else agrees that that is the standard and thus demands the same cut, lest one receive less than professional care if a lesser commission rate is awarded to one and the same 5% chaser.

          There’s an old saying: A bird in hand is worth two in the bush.

          A professional Realtor will indeed state what he/she thinks he/she is worth. The consumer must decide if said Realtor is indeed a professional worthy of that demand. The Professional Realtor can then decide if he/she wants to work for less…depending upon whether or not he/she is in a financial jam that month…which would indicate to me that said Realtor is not really a pro, but simply one masquerading as one in one’s mind. The T-shirt saying “A legend in my own mind” comes to mind.

          There are far too many Realtors who believe 5%, or 4%, or 3% etc. of sale prices belong to them, that it’s their money not-yet- delivered until the deal closes. Not true. This expectation in and of itself contributes to the inflationary cycle of real estate prices, exactly to the tune of 5%, 4%, or 3% etc. Proof? Mortgages are placed upon the full prices of properties…including commissions paid out to Realtors. Thus, a mortgage placed on a property sold privately is actually based upon the price of the product only. On the other hand, with the public hoping that prices will rise over time, it is an incentive to buy vs rent with the expectation built in that money will be made via the investment factor over time, as has been the case for decades. It’s quite a system that so far has worked well, but don’t tell consumers there is a standard commission rate. That’s a lie. Thus, don’t fall into the trap of believing your own lie. If you do, you should go into politics.

        • Rod,

          “I will go directly to the agent and negotiate my commission prior to placing an offer if they are offering less than 2.5%.”

          What happens if they offer less than 2.5%? Does this mean you won’t recommend that your client place an offer?

      • If a seller only wants to pay 4.5% then that is up to the agent whether to take that listing. What should happen is the commission is split 50-50 the selling and buying side. Not pay selling side 2% and listing side get 2.5%. Maybe that should be disclosed on the listing as well. We all know what the selling commission is as it is posted on the listing. Also along with that is disclosure of cash back or any other deals.

        • It is said that we are paid what WE feel we are worth. We know the value we bring to the public, or not. And we are paid exactly “accordingly.” WE decide exactly what is our worth. If we cannot navigate and negotiate with a buyer broker contract as to how much we are worth representing that buyer, how can we possibly do so with a seller, either.

          A whole n’other real estate world…
          just an example perhaps to consider.

          I listed a house in my farm area and MLS sold it; a subdivision house and when the for sale sign went up the seller told me his neighbour had said they had been thinking of listing with me but would wait to see the sold price. And that they needed to do some upgrades first.

          One day I decided with my seller’s permission to introduce myself to the neighbour. A nice senior retired couple thinking of downsizing. They had decided to invest in having the main floor hardwood stripped and refinished before listing as their son’s listing agent several miles away had suggested. The grandchildren had literally worn off the varnished hardwood surface.

          I recommended not to resurface the hardwood. It was a big house needing a big family. 5 bedrooms. Likely that buyers might have small children? Worth testing. Owners already had arranged for a new condo out of town.

          A good oil wipe down of the real wood kitchen cabinets would be worthwhile. The housekeeping was excellent. Just a few touch ups here and there.

          A nice red brick exterior, they were thinking to replace the front door. No need! But a fresh coat of paint highlighting in a rich royal indigo blue would upgrade the curb appeal and a couple hundred dollars in end of season oversize plant pots on the threshold would pop the street appeal. Done! Immediately.

          My listing neighbour property had sold quickly at top dollar in an ordinary market. The seniors were so shocked by what I had suggested, saving them thousands of dollars and needless aggravation, they listed with me right away.

          I had a referral from adjacent city to list and help buy an agent’s own family. Didn’t want a referral but I paid one. I sold her adult children’s house (MLS sold but it was a rough sale and hard on the owners with several children and Toronto agents kept bringing very low offers.) Sellers had done their best but with two working professional parents it was tough for them to stay on top of showings tidy-ups. Sold sign finally up.

          Guess which BIG house they bought? The one owned by the seniors who had not had to refinish the hardwood floors.

          EVERYONE was delighted. I invited the young professional couples mum-agent to prepare the offer on my big-house listing but she declined. Everyone involved gave permission for dual representation and another sold sign went up.

          Surprise a few days later: a call from the seniors; their adult son being transferred out of town – listing had expired. Senior parents insisted he list with me. Son followed my listing tidy-up instructions where small busy active grandchildren lived and another (MLS) sold sign went up very quickly.

          It’s not always best to do renovations before listing. Just depends. Simultaneously a would-be seller was waiting to redo kitchen cabinets before going to market. Again I recommended to just give the cabinets – real wood (great builder: excellent lot in good location) a good wipe down and scrub needed, and I arranged for a weekly housekeeper, fresh cut flowers and my sellers were able to complete their out of town purchase promptly.

          And shocked their out of town agent when they told her what I had done to help sell their house with three offers in a quiet market. Sold a little over what I had been told by colleagues was a too-high listed price (MLS). And this was a 7-point commission listing. Money investment well-spent.

          There’s so many ways to market listings. Another sold sign that brought a listing across the street. And a CMA request from an owner actually taking the real estate courses who got licensed herself.

          What a business! Now so very very different. If Sarbanes-Oxley hadn’t brought us in Canada, buyer brokerage, we might see a totally different industry today.

          Carolyne L 🍁

        • What part of this discussion am I missing? Are you confirming that you do in fact allow the listing agent to determine what you will be paid? It seems that way in your discourse. Then, diametrically opposed, you complain that this isn’t right and / or fair and that “the industry should set fees?” Perhaps I misunderstood?

          Let me repeat a true story that I referenced years ago on REM, regarding an event as described as having happened at a local brokerage upon the advent of buyer agent contracts entering our business world, seemingly overnight, with not much forethought as to its implications as regards how the co-op agent would get paid.

          This particular brokerage was ages old with a strong admin department and a strong highly regarded broker.

          Supposedly as the story goes, to give the night staff a way to keep busy between answering calls and booking showings, the offer typist would actually type into the buyer contracts that the brokerage would accept whatever fee was offered on the MLS listing as the co-op fee.

          Agents as in many instances don’t / didn’t read details; brand new in the new wunderkind buyer agency world thrust upon the industry. Habits are often hard to break. Sub-agency and the BORS ruled the day, literally.

          Grab the office forms and run. Next client / customer (transaction) needed tending to. Hurry up and get this crazy new (representation contract) form signed. Who needs to read this “stuff,” anyway???

          Well, apparently he didn’t read the readymade by his own office buyer agent contract. Had his buyer sign off on this office-declared must do and proceeded to sell the buyer an MLS listing where he also hadn’t read the fine print; especially didn’t read the co-op offered fee.

          Sold sign up, buyer and seller happy, agent filled out and submitted his trade record sheet delineating a presumed historical 6% as the board had always dictated for processing an MLS listing historically, and filled in his portion as 3 points. Happy day; big commission cheque coming in a couple of months. Adrenaline rush says best time to go sell another one. Maybe even buy a new car.

          In the day, buyer agent contracts didn’t even get filed in many offices. (LOL – just ask Jamie). Agents just kept a copy, sometimes not even knowing where they put it. True. Seriously.

          Admin department processed the trade record as the agent had signed and submitted. Broker signed it as required. A few weeks went by and admin, who had never seen that buyer agent contract, or any other, invoiced the listing brokerage according to the trade record sheet for the typical 3 points board-allocated demand for 50/50 split; general meeting still in the works (all dictates had to be legally changed). Buyer brokerage contracts were official. They were here to stay. And THAT buyer contract would determine how much the co-op would officially get paid. I have written extensively on this topic over the years and at REM.

          Accounting received the payment from the listing brokerage for their invoice after successful closing along with a copy of the MLS contract attached, allegedly. Yes.

          The pre-typed office-provided buyer contract that said in plain English that the buyer agent would be paid whatever was noted on the listing was in the buyer agent’s possession. But he apparently had never read what his buyer had signed. WHAT!?! Really??? The MLS listing said the co-op would be paid $1.00 (One dollar). No one had read THAT!

          The broker owner himself clearly didn’t understand buyer agent contracts. He allegedly tried to bargain with his compatriot brokerage, apparently to no avail because guess who else had all signed the related contracts; the buyer and the seller. Legal advice… eat it. Chalk it up to experience. And it’s worth noting that most local law offices were not up to speed on buyer agent contracts and sadly some still find it a grey area. Likewise some judges. Even so buyer agent contracts became legal more than twenty-five years ago. In some domiciles, they are mandatory.

          Thinking maybe the next (mandatory) brokerage weekly office meeting might have discussed buyer agency in more detail.

          Hoping this old mid-1990s story will light a candle for those who still don’t know how or simply don’t want to employ the use of buyer agent contracts where the buyer is required to top up whatever the buyer agent feels he is due to be paid to cover what his representation fiduciary duty is worth to the client. Maybe think of it as “value-added.”

          Here’s what one of my buyer clients wrote, in part, after he topped up my value-related buyer contract… confirming my value.

          “We are thrilled with our purchase . . . and are certainly in your debt. We basically made a windfall of 10’S of thousands of $ in one night due to your efforts. You told me that you earn your fees and you were not kidding . . .”

          They had literally wasted a year with agents who never asked them to sign a buyer contract, sending new MLS listings, and yes he was reluctant to sign because I was the only one who insisted on having a contract, but I simply stated I would not work without one, and a topped up one, at that, and that he simply could continue wasting his time and all those other agent’s time who had not been able to fill his requirements.

          Fortunately I was in a position having plenty of business to make my own choices about with whom I would choose to work, and represent.

          He made the right choice and won the gamble big time! The agents whose time he wasted let him know in no uncertain terms that he had used and abused them, WOW!

          Buyer brokerage is a world of its own. And by the way they listed with me at 6 points, 3 to the co-op. Everything worked out just fine. I knew the skills I brought to the table and I could always prove it. No pressure on me or by me. None needed. My “value” spoke for itself.

          Carolyne L 🍁

    • Rod:

      Re your item number 2:

      Seven home inspections/inspectors with different issues, none with the same issue as another? If this statement is true, then the home inspection profession is a bullshit profession—at least in your area—specifically regarding at least six—and maybe even seven—of the said inspectors.

      I’ve stated herein that the residential real estate appraisal profession is a bullshit profession. I also participated in a multi-appraisal situation—-six appraisers to be exact—when I was an appraiser, with my estimate of market value (for the purpose of acquiring a mortgage)—being the final opinion being requested/offered, ultimately being used to settle the issue.

      What goes on here? Where is the professionalism?

      Re your item number 5: You just explained/highlighted the unprofessional conduct of your (my former) industry and many of its faux professionals without batting an eye re that truth. “They get what they deserve and likely don’t know better.”?…”They” being ignorant consumers? Isn’t it the advocate’s (read Realtor’s) responsibility to unignorantize (re educate) all the said “They’s”? Are you agreeing with me that a good portion of the organized real estate sales industry is also a bullshit profession? I offer you this opportunity to chime in realizing—as I’m sure do you—that there are many actual professionals working within your (my former) industry. It’s just that they’re outnumbered by the professional hacks and newbie amateurs masquerading as pro’s. Yet all O.R.E. associations protect and promote said hacks and amateurs as professionals, which makes them complicit with promoting hacksterism/amateurism within their tanks, which makes me think corruption rules within said ranks thanks to the “Don’t look here, look over there.” sleight-of-handedness of the O.R.E. royalty.

      Looks to me like bullshit professions do quite well at the expense of ignorant consumers.

      You conclude by advising Realtors to ignore naysayers about your (my former) industry.

      WRONG

      They are the very people you all should be paying attention to. They pay your commissions.
      Without them there are no ‘you’s’. By inducing up-bidding Realtors do indeed contribute to inflationary cycles of rising home prices. They induce up-bidding in order to increase their own chances of making the deal, thus earning that big fat commission. So who are they really working for? You know the answer.

      I’d wager I talked twenty-five percent of all potential buyer clients ‘out’ of buying at different times and under differing conditions in order to protect their fiduciary interests. I lost potential commissions then, but guess what?…most came back to me later on, and deals were then consummated. Their most repeated early-on statements were “No one ever told me what you just did! Everyone just tried to sell me everything they showed me!”.

      Bullshit artists. Paying members of a professional association of mostly failures, Rod.

      Follow the money. It tends to slowly, yet surely, compromise many desperate Realtors over time…if they survive long enough to be compromised. It seems that only those who can afford to survive long periods of no income can resist—or choose to resist—the temptation of taking advantage of ignorant consumers for that much-needed next hit, the narcotic that most all commissioned salespeople become addicted to…the almighty all-or-nothing commission.

      Sorry to be so negative folks, but reality is reality.

      My apologies in advance to actual professional Realtors out there. I’m sure they know of what I speak.

      • Brian, yes 7 home inspections most picked different cosmetic items, as the house was fairly new and well built. I think most buyers got cold feet at that time but it was very annoying getting different reports of cosmetic issues. Only one said something about a shim under the beam which we had a good laugh about as it was my clients paint stick he left there. The inspector didn’t touch it but took a nice picture of it, calling it a structural issue, buyers still walked away. Lol

        I’ve missed out on many buyer commissions in 2017 when the crazy market hit and right now as we write these comments. Most of my 2017 buyers bought early 2019, they were waiting for the bottom. My first time home buyer’s are on hold for now as this market makes no sense to get into when everything is going for ridiculous prices. Unless we can find an actual deal in this market their not buying. I’m focusing on sellers right now, so far none are buying, which I’m totally fine with.

        When I say people get what they deserve it’s in reference to the fact that they go only by the commission someone charges. The .5-1% people who list and sell the home in a day or 2 for a low price when the comparable’s are much higher. They consistently take a bully offer when they have offer dates, or double end it on a coming soon for a stupid low price. When you almost had the listing appointment but the sellers tell you they want the low commission or they won’t hire you. I don’t waste my time anymore, and no they are not people I would represent so you telling me that they are your potential customers is kinda funny. Unfortunately, well fortunately for them they will never know the difference as we can’t go up to them and say you got screwed. Like any industry there are lots of unprofessional people, especially when you have the competition realtors have at 1 realtor for every 110-120 people or so in the GTA. I’m very honest with people and it’s what keeps my clients coming back to me and giving me referrals. I’ve never been desperate for a commission cheque that would force me to comprise my fiduciary duty to a client.

        The negative naysayers I’m talking about are all the trolls on social media that harass you on all your advertising posts. It’s a daily occurrence in today’s market.

    • If you stop look and think in 1990 the computor was introduce into the Real Estate business along with Franchise and Marketing, The Broker became Broker of record . The Realtor was given the vote at the Real Estate Board level. leaving many Broker of Record with no say as to we’re the future Business would take the profession. As time past the Marketing co. began to grow . Flip your home became a business for many that we’re not working in Real Estate as Realtors helpings to drive the pricing up. The blame for the increase of Real Estate. Falls on Greed .More people made money on Real Estate than any other investment .There is a lot more that can be told that got us here today. A statement of to day .My children are not going to have a home to rise a Family unless we mortgage our home to help them out. They require $200,000 plus a $300,000 mortgage that may get them a townhome.What happen to the single family home? Now we have new non Real Estate giants coming to the Real Estate of Canada to eat. Stop Think .We all live on Real Estate . How do we keep it at a price that we can in joy it in our live time. Life begins at 20 and ends at 60. I hope you understand this statements

    • Thanks Rod,
      This was the intellectual equivalent of clubbing Chris Stager’s moronic ideas to death like a seal.

    • Rod – noted number 3

      “3) On Multiple offer situations when you have an offer from the listing agent, that agent should not be presenting to the sellers, should be your BOR or office manager that sits with the sellers. If it’s an agent in your office bringing an offer then you should contact your BOR for advice. I have over 700 agents in my company so don’t know most of them.”
      ===

      Whose dream is this? What market area BOR has anyone who has ever sat in to present an offer to a seller? (And would they have the skills or licence to do so?) Goodness sakes!!! In my market area of 35 years never happened to my knowledge, and not even a licenced branch manager or licenced broker owner would stand in to present to a seller; in one situation that comes to mind a broker told me it’s not part of his job description

      WHERE exactly is it written or even suggested that such a system could/would/should be a procedure?

      The topic periodically appears on REM discussions such as here, but no follow-up pointed discussion. It would be interesting to hear of some jurisdiction where this “suggestion” actually happened / happens in real life?

      Carolyne L 🍁

      • Carolyne L
        It’s our office policy, if we have our own offer on our own listing and are in multiple offers, then we are to have another agent take the sellers side. Remember all the listings belong to the brokerage, not the agent. Either another agent, the office manager or the BOR needs to do it, which all are licensed and know what they are doing. I’ve been in the business 10 years and this has happened quite a few times, at least once a year or more. In fact on the very first deal I ever did, my broker owner presided over the offer presentation. Usually I find another agent in my office to help with it. This is only for multiple offers, if its only my offer and no others than this isn’t needed. It’s so the other agents with offers don’t feel like they are getting the shaft. Many times my buyers don’t get it and my sellers are happy and the buyers agent is happy with the way it was done. We are very transparent and other agents respect that. I’ve actually gotten referred by other agents for business due to it. Quarter of my business in the past few years came from other agents.

  18. I have never understood how would this kind of auction look like in reality.
    First of all in an auction we are talking only about the price so that means there are no conditions on your offer, you force everybody to go without financing condition, even if they have 5% downpayment and nobody can guarantee the bank will loan them the full offer amount for the property.
    Second – how exactly will look like the bidding process? In any normal auction the calls are like every 10-30 seconds, right? How do you see husband and wife or a young couple with family able to decide in 20 seconds if they will increase their bid with 10 thousands?
    Third – having 2 people that have to make a decision in the same time, how is that going work in real? I mean offer presentation at 4 pm, both guys are working, to they take a free half day from work to be together? Or they are on the phone and in 20 seconds they decide how much will increase the bid? And how do you actually make that bid legal? On a contract you have 2 signatures, how would that auction look like? A software platform like Ebay, one account, click here to increase with 10 thousands? What if the spouse will say she never agreed to that step? Of if the guy says it was a mistake and he didn’t want to increase the bid?

  19. I have dealt in the past with buyers from out west (Alberta or BC, I cannot remember) and they said that home inspections were mandatory by the sellers. All good points and it is about time our boards did something about multiple representation particularly in delayed offers with many offers. Lots of comments on this one and not one negative comment! Thanks REM for posting Chris’s letter. jf

  20. TOTALLY disagree, until home inspectors feet can be held to the fire they are useless,
    the problems you are experiencing do not happen for the most part in the rest of Canada, I appreciate Toronto and Ontario are the center of the universe BUT the rest of Canada with the Exception of Vancouver (can you believe they think they are the center of the universe?) has learned how to work in a sellers market.
    Now get out there and sell something :)

  21. I do not agree with the sharing of information of other offers. Another solution we could do to mitigate the current situation for buyers would be not allowing no conveyance of offers to a specific date. When a property is listed open it up for offers.

  22. Although you are experiencing grief with multiple offers today let me assure you that this has not historically been the norm in Real Estate sales. Multiple bids? these won’t last forever. How will you react to 60 or 90 days-on-market listings, hell some of your listings might even “expire”. Buyer’s buying unconditional? That doesn’t happen when there is only 1 offer. If we make knee jerk decisions to short term problems we will be stuck with those decisions long after the perceived problem is gone. Open bid auctions favor only the buyer and we have to remember that we are contracted to get the very best for our sellers too. Seller provided home inspections open way to many doors to liability and litigation for the sellers as well. Any changes we make need to be based on a very long term vision of our market not our very current annoyances.

    • I don’t agree with sellers having to supply a home inspection, but I believe every deal should have a condition of inspection clause and financing with a 7 day conditional period. If the buyer waives the condition without performing the inspection or financing then that is up to them. Let’s call it a cool down period. Same as condo sales. The status certificate should be ordered ONLY when there is a deal in place, not having it to hand out before offers. This is the new practice to eliminate the condition of status clause. I am working with first time buyers who can only purchase with finance clause (and status if they buy a condo) due to these conditions they are not even considered as selling agent is looking for firm unconditional offers. Every sale should have at least a 5 day conditional period… let’s call it a diligence or cool down period.

  23. Great points, I agree with all the recommendations – but its apparent that there are too many entrenched vested interests at work that will create barriers to any meaningful change. Also the Ontario political / real estate leadership is lacking any kind of spine and very far away from doing anything meaningful. All you will get is lip service to whats best for our industry.

  24. First of all OREA and CREA survey’s. What in the hell is the point? Pretending like their relevant I suppose??
    I agree with the auction proposal but ultimately it should be up to the seller to create the rules for the sale of their property. Every buyer should have the right to a home inspection and I don’t think it should be burdon of the seller. Every deal should have a “cool off” period (72 hours). Only trouble with that is any clown with a pick up and extension ladder is an inspector. 80,000 Realtors fighting to do business here in Ontario doesn’t help.

  25. Our industry needs dramatic reform. We could start with huge fines for agents who don’t lock up after themselves, let people view homes with their muddy or wet footwear on and leave the lock box open. I would also like to see fines for unmarked lockboxes on condos, they make us look the most idiotic!

  26. Couldn’t agree more! Transparency and let the best offer win.
    As for a pre-listing inspection, for several years, Gil Carlson, former President of Unirisc, Alan Carson of Carson Dunlop and I attempted to get REALTORS to understand the benefit of a pre-inspected home and we offered a warranty on the home for 1 year that could be renewed. Gil and I had a company called Certified Pre-Owned Homes and while we had a great number of Realtors sign on, very few ever offered the program. Alan ran a similar program through his company. Perhaps we were 10 years too early but this would solve a number of issues that buyers deal with today.

  27. Great ideas. Too bad RECO is more concerned about the font size of your name on your sign than actually trying to protect consumers.

      • Good thing you haven’t heard anything from them… if you did, then chances are your in trouble. The general public can file complaints against us be we can’t file a complaint with them to help clean up the industry. Complaints have to be filed by broker owners only and most of them don’t want to be bothered. I am talking serious complaints not letter size on business cards.

  28. Great points. Let me add one more – if you set an offer date, you have to stick to it. None of this “seller has right to review preemptive offers with no notice” – which to begin with is against RECO regulations. Why are TREBB and RECO not enforcing this?

    • Coming soon to mls is nothing more then pocketing a listing. If sign says coming soon to mls then it must go on the mls system before being sold. Wouldn’t that be nice! In fact maybe during that time of coming soon, there should be no showings at all, including the listing agent. Selling on the coming soon period is not working or the best interest of the seller as many agents don’t even know about it unless they happen to drive by it and see the sign. Also because it never made it to mls, we don’t have the sold information to use in a CMA. VIOLATION TO REMOVE PICTURES, but not to post the listing. Also Avi, I agree with you to a point. Let’s take it one set further… when you list a property, it must be available for showings. Let’s make it available for showings and offers. Forget holding back offers or pre-emotive offers. If the seller gets an offer and they don’t like it then don’t take it.

  29. Good points!
    The ethics of a listing brokerage
    having knowledge of an offer from their brokerage in multiply offer
    scenario makes us all look unprofessional.
    Either we change or the change will be eventually legislated IMO

  30. There are SO MANY more issues related to your industry that CREA & OREA should change and enforce.
    1) Why do full time realtors have to do business with part time agents? I am sick of waiting till the Co-op Realtor finishes their REAL JOB in order to get back to me. Or worse, meeting a Police officer or Fire Fighter at the back of a MacDonalds ?
    2) How do agents enforce reducing the commission by 1% if they showed their listing to someone who brings an offer with another agent? Is it not the LA responsibility to sell the home any way?

  31. Here’s one rule I would like to add to your list: If you are going to list a property, and you are not a member of the Board where the property is located, then it should be ‘mandatory’ that you list that property on ‘both’ your Real Estate Board, and also the one where it’s located. This way, all the buyers Realtors have access to ‘all’ the available inventory within their area through their own MLS system. For instance, a TREB member lists their parent’s home in the Barrie, ON area. The TREB member should be listing that home on both Boards. It costs less than $100 to interboard that home… cost of doing business, and the best exposure for your Seller. We are working for them, aren’t we?

    • Isnt that the rule already? As well, the province should have a one-board system that is open to all registeted Ontario Realtors. These closed boards shd be a thing of the past.

    • It works many ways, local Realtor’s board listings can’t be seen by out of area buyers realtors either, they may have a buyer willing to offer more than a local, One provincial MLS system is the only fair way for anyone anywhere in the province, that we are licenced to work in, has access to the info instead of multiple local board databases this would cure any problem, you can still have local boards but only one MLS database.

  32. I always have my sellers do a home inspection prior to listing and I ALWAYS SHARE IT with anyone Buyer Agent that asks me for it. I always leave a copy of it on the kitchen table so everyone can read it. I have never heard of not being allowed to share it………. Is this a Provincial thing??

  33. There are other jurisdictions globally that have adopted many of your suggestions. In many Scandinavian countries, the seller must provide a home inspection report as part of the listing process. There are also countries where buyers and seller sit down together in the same room to negotiate an offer. Our system is definitely flawed. In a seller’s market the buyers are greatly exposed.

  34. Chris , 100% , it’s the same thing here in Quebec . The worse that will come out of all this is what will be the perception of an agent in the eyes of the general public . Do they really need an agent when everyone is overbidding on homes and agents keep on letting the almighty LOCKBOX do their job. It’s time for reflection or we will ope the doors wide open for even more FSBO ‘s .

  35. Also, what good reason does a REALTOR have for NOT listing a property on the local board where the property is located. We are getting VERY frustrated with out of board realtors listing a local property on TREB or elsewhere, when the property is located in Collingwood. Not in best interest of Seller at all.

    • The same could be said for realtors anywhere in Simcoe county our outlying areas not listing on TRREB is not in the best interest of the sellers. Most buyers are coming from the GTA now and we don’t have access to any other boards unless we become a member. Not so long ago we shared information but ever since Barrie and TRREB got in a tiff we no longer have access. The hilarious part of that is more homes in Barrie are sold on TRREB now than BDAR.

  36. I agree with the home inspection aspect here. We’re expected to take our first time home buyers in scenarios like Toronto with 100 year old homes without knowing what they’re getting into with a home inspection. The thought scares me!
    The disclosure of the offers, well I believe at that point it’s always the person with the deepest pockets that wins and takes the competitiveness out of the equation. When it comes to presenting the offers with the someone in the same Brokerage or the actual listing agent itself having a steak in the game why can’t at that point in having to become a neutral party who has to present the offer so it’s fair for all parties.
    Just ideas and IMO.

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