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9 T) i) ?- X' U/ \CREA approves agreement letting clients pick realtor services
' i d: _0 H5 b0 eLast Updated: Monday, October 25, 2010 | 9:24 AM ET Comments18Recommend19CBC News ! l( _3 A' ~( Z% i' D
Canadian realtors have agreed to let consumers list private-offer properties on the MLS system. (CBC) A new move to loosen restrictions on how houses are bought and sold is being applauded by companies whose main pitch is to help clients avoid realtor fees.
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' c* s6 Y4 S) LDelegates to the Canadian Real Estate Association's meeting in St. John's on Sunday ratified an agreement that allows clients to pick and choose which service they want from a realtor.
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/ }! W. v' a4 hThe deal, which effectively removes the federal Competition Bureau from realtors' backs, will also for the first time allow privately sold properties to be added to the Multiple Listing Service (MLS), which accounts for the lion's share of sales in Canada.
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"A lot of Canadians didn't know they could sell without a real estate agent if you could believe that," said Walter Melanson, director of partnerships with PropertyGuys.com, a no-frills company that helps individuals sell their own houses./ ?+ D) i3 ~9 S6 ]" ~" J8 H
4 I, i* s/ o" O; E( w) B$ iCompanies like PropertyGuys.com earn their income through flat advertising sales. Until now, however, their clients have been unable to list with MLS, which is a primary source of information for prospective buyers.) y# M, j3 Z( t* ]
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% z( k- e* E$ o' S" X# i3 M5 C7 sMelanson said realtors accepted the deal with the Competition Bureau because they knew their monopoly on selling homes had to end.
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9 f! K9 m4 g5 Q8 T. j"We found that all real estate agents practise the same thing, charge the same way," he told CBC News. "When we came into the market with a different message, we were blocked … and here's what I mean by blocked. We had a hard time buying radio ads, a hard time buying newspaper ads."# s! t2 {$ p0 U R
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'Realtors have competed all their lives.', z% i) M- f& f- }8 x$ @0 g
—Georges Pahud, president of Canadian Real Estate AssociationThe new deal means homesellers can select exactly what services they want from their agent, and only pay for them.5 h( z( U5 Y$ U" i; ]# c) c
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CREA president Georges Pahud sees the move as far from revolutionary.+ M7 _ v, v( z% v
1 X8 [8 M7 ^. C9 \( i9 u+ w9 a3 t"Realtors have competed all their lives," he said.
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2 o+ h; P8 a- Y& z8 P"We compete every day, regardless of the business model. So there wasn't that much concern."
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St. John's consumer Ken Organ welcomes the change. He listed his home for sale privately three months ago, wanting to avoid agent fees that he expected would run over $15,000.: [7 L5 N* N( x, w4 s! \4 V
% X. }* |% \" u& Y) m0 M* f9 f JOrgan, who paid a flat rate to a company for an ad, said not having his property listed on MLS put a different price on the savings of going alone.
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; V+ ^3 a( P! O0 S"So there's more exposure, that's the big difference. I think it would sell faster and you'd see more interest."
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) W7 F& z8 n& H/ H$ z2 q; ?, iRead more: http://www.cbc.ca/money/story/20 ... .html#ixzz13Nd5X94w |
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