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Could your flyers get your license revoked?

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Real Estate Professional | 01 Apr 2015, 09:34 AM Agree 0
If you’re looking for those guilty of breaking TREB’s new rules on sharing sold-data, you need look no further than a growing number of agent flyers.
  • Matt France | 01 Apr 2015, 11:41 AM Agree 0
    The Real Estate Board of Greater Vancouver allows us [its members] to publish sold data. I like to display on my website some of the properties that I have helped my clients purchase and sell. It becomes sort of like my resume to display what I am actually good at, and not just what I say I am good at. I have never heard of our members here having any objection to being able to display our sold listings.
  • Peter Barbati | 01 Apr 2015, 11:58 AM Agree 0
    A simple variation of the rules should suffice. Advertise your SOLD listing until possession date. After that, it is not your clients house anymore so remove from your material. It's not that complicated.
    As for sold data, data from the boards belong to the (members of the) boards, not to the competition bureau. Should lawyers be forced to disclose their actual per-hour costs to potential clients? Should dentists be forced to post their actual procedure-cost to would-be patients? (If you are charging me $220 for a 1/2 hr session and a filling and only use $2 worth of amalgum, should I have the right to haggle with you before the procedure begins?). The competition bureau is picking on Realtors because we are an un-unified group with weak leadership... and the bureau needs to justify their existance. How much do their head brass make anyway?

    Ignore spelling errors please. Waiting on a "MIA" much for my last 2 hours of time and gas.
  • karen tereck, winnipeg | 01 Apr 2015, 11:59 AM Agree 0
    Publicly publishing a sold price should only be done with written permission from both the seller and the buyer. When these 2 people are asked for permission, 100% of the time, they don't want it made available to everyone publicly.
  • P.B. | 01 Apr 2015, 12:00 PM Agree 0
    P.S. My above suggestion is contingent on your boards rules regarding use of sold listings. Not asking you to ignore their rules, just makling a suggestion as to how they can be modified.
  • | 01 Apr 2015, 12:23 PM Agree 0
    This is such a silly fiasco. I hope TREB will loose the battle in May. Australia and the UK have made past sales information public records and it should be that way to prevent fraud, crime and allow consumers to the opportunity to educate themselves.
  • NFL | 01 Apr 2015, 01:05 PM Agree 0
    It's public information in Alberta too, Mr. LOFT - and it's available via our provincial title registry system. Anyone can go and request (and PAY for!) a copy of title, where they'll find the selling price of any property. What the real estate boards (and by extension the agents) are arguing is that the particular system used to conveniently organize this data and make it accessible IS proprietary, because it was created and is maintained by realtors at their own expense. This being the case, why is there an expectation that they are obligated to make it available to anyone else for free?

    So many people are up in arms over realtors and what they earn, but no one forces anyone to use an agent. It's no different than someone choosing an investment advisor or using a tax preparation service. Yes, we can do it ourselves for less, and many of us do. But some people prefer the convenience and expertise of someone who does that work full time, and that's okay too.
  • jeff | 01 Apr 2015, 01:37 PM Agree 0
    this is an easy fix,

    I suspect most OTP's already have a statement telling the buyers/sellers that the information on the property including the sold price will be stored on the boards data base and used for statistical purposes , appraisals and agents use. Ours OTP is not well defined but everyone signs off on it.

    simply add in a couple lines with check boxes where the buyers and sellers agree to something specific.

    Option A- the buyer agrees to allowing the local RE board to keep the sold price on the property for the specific use of agents and appraisers working in the industry and directly assisting other buyers and sellers in the marketing of their property. But excludes their ability to broadcast for public consumption via the internet or other marketing pieces the sale price and purchasers name of the property sold.

    Option B the buyer and seller agree to allow the posting of the sale price of the property to the general public in what ever means is available to any one that is interested in publishing that information, whether for monetary gain or not.

    somebody can word smith that to make clear and concise.

    if this choice was given to the buyer and seller I would bet that they would choose option A as there are specific limitation imposed. Who in their right mind will choose B that is unlimited and fo ever. Its like posting a picture of your 5 yr old getting on the bus for first day of school and posting it on the internet.... why would you do that.

    until the closing the seller still owns the house, after the closing it is now the buyers discretion. so until you get both agreeing to the choices you do not post anything. That is not good for us as agents as we lose the comparable information that help us do our jobs. But I suspect both parties will agree to limited disclosure for the specific use that we have always done such as Option A.

    the benefit of putting the choice back in the hands of the buyers/sellers is that the comp review board now has no say in the matter, nor for that matter other private internet sites, whether for profit or not, or the public that feels the information should be made public.

    The sale data already exists in the provincial property, if someone wants it, have at it.

    It is not the agents job or perogative to post potentially sensitive information to the entire world. we are hired to help people buy and sell their property usually through the use of the MLS system. We are not hired to become web masters and post or disseminate this information for our own gain.

    Has the seller/buyer of a property given specific permission agents, Boards or 3rd party websites to post that information whether for profit or not. It will depend on how the individual Provincial OTP are written. It would be interesting to see if a seller or buyer of a property sues an agent/company/board for the wonton public disclosure of the sale price of the property, via flyers, personal web sites or other for profit web sites. Even if that is the interpretation, was that the understanding that the buyer or seller had at the time of signing. was it properly described, in the heat of the moment, I doubt it.
  • | 01 Apr 2015, 09:47 PM Agree 0
    I agree entirely with your respective opinions Peter B and Karen T! What is more fixed than gas prices where every gas station charges the same price in a neighbourhood or community? Yet, the C. B. doesn't go after the gas companies because the latter have far more available sums of money to fight the C. B. In court than CREA/OREA combined!
  • WM | 06 Apr 2015, 01:22 AM Agree 0
    It's NOT JUST Toronto Real Estate Board rules.
    Per the law governing the Real Estate market in Ontario - The Real Estate and Business Brokers Act (2002), you must have WRITTEN permission from BOTH Buyer and Seller to advertise the sale price of a home (this includes X% of asking)...
    Violating a TREB rule may get your membership revoked and/or a fine, but TREB cannot revoke your license.
    It's a complaint to the body that is charged with enforcing REBBA 2002 - The Real Estate Council of Ontario that CAN revoke your license.
    You and you Brokerage may also be fined, and in most contracts it is the agent who is on the hook for any fine levied against the brokerage.
    So it can mean 2 fines and no license.
    Is it worth it?
    Once the sale is completed, anyone can go to the Land Registry office and for a small fee get details about the property (ownership, sales, liens, legal description, etc.).
    The sold data on the MLS system (per the listing agreement) to enable TREB members to perform a Comparative Market Analysis for a client to assist in deciding the listing price for a property.
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