MLS sales data on Realtor.ca

Michel Lafleur

Inspired Forum Member
REIN Member
Apr 30, 2015
92
91
18
#1
There has been much discussion lately about the Toronto Real Estate Board having to make MLS sales history available to the public.
In the very near future, sales data (for all properties transacted through MLS) will become public information available through Realtor.ca.
This data won't include expired/terminated listings or pending prices, but will help buyers & sellers be able to do more of their own research.

https://www.remonline.com/breaking-sold-data-coming-to-realtor-ca/

As a discussion point, how will this impact your relationship with real estate?
Are you a buyer, seller, Realtor, appraiser, analyst, investor etc, and will this have any effect on your business?
 
Likes: A & H

Matt Crowley

Senior Forum Member
Registered
Dec 14, 2013
833
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63
Calgary
#2
I think the fact that TREB was taking this to the Supreme Court shows how disconnected Realtors are from their customers and what they want. Unfortunately, all Realtors will be painted with the same brush, and this does not apply to every Realtor.

Core problem is that if Realtors act like cab drivers when Uber came along, then expect customers to be disinterested in the welfare of Realtors when alternatives arise in the market to paying 4%+ on every transaction. Frankly, the value isn't there:

- Most Realtors are just salespeople
- Realtors cannot inspect the property (many refuse to even listen to the inspection report)
- Realtors do not provide bank-approved appraisals
- Few Realtors have metrics on what is good purchase within a neighbourhood and what they have is shadowy, black-box and available only on request
- What guarantees to Realtors have on their advertisements and representations? Zero as far as I know
- Why are moving costs not included in Realtor fees? Legal costs? Why are there any out of pocket cash expenses at all?
- Alternative services in the US have 30 day 100% guarantees and will buy your home in 30 days if they can't sell it at a small discount to market.

For 4%, I want all the above services.

The advertising I see for Realtors still focuses around fear... truth is customers get no guarantees with Realtors and a better service is eventually going to be assembled. Services like Opendoor in the U.S. challenging the status quo.