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New agent demand on sold data

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Real Estate Professional | 08 Apr 2015, 09:13 AM Agree 0
If you can’t beat ‘em, join ‘em – at least, that’s the sentiment of some agents threatening to become FSBO consultants if sold data isn't better protected.
  • RICHARD RENAUD | 08 Apr 2015, 12:14 PM Agree 0
    I AM IN FULL AGREEMENT WITH YOU. I WONDER HOW THE LAW SOCIETY WOULD LIKE IT IF THIS WOULD BECOME AN ISSUE TO THEIR LIVELYHOOD FOR EXAMPLE. THIS IS BECOMING A SERIOUS PROBLEM TO OUR PROFESSION. I HAVE STOP PAYING TO MY DUES TO MY INTERNATIONAL REPRESENTATION TO THE FACT THEY ARE DOING NOTHING TO OUR CAUSE. CREA AND OREA OR ANY PROVINCIAL BODIES ARE PAYING THEMSELVES NICE SALARIES ON OUR DUES AND FRANKLY I DO NOT FEEL THEY ARE GIVING US THE FULL SUPPORT . I AM SERIOUSLY CONSIDERING BECOMING A FULL CONSULTANT WITH A INCORPORATED NUMBER , AT LEAST I WOULD HAVE SOME PROTECTED STATUS UNDER THE INCOME TAX ACT.. AS FOR LIABILITY INSURANCE, THIS CAN BE OBTAIN UNDER BECOMING A INCORPORATION OR A LIMITED REGISTRATIONS. IF THEY DO NOT WAKE UP SOON ENOUGH THIS WILL BECOME REALITY AND CREA AND ANY PROVINCIAL BODIES WILL NOT BE ABLE TO DO SOMETHING SINCE THAT CAN OF WORM IS ALREADY OPEN...
  • Cally | 08 Apr 2015, 12:50 PM Agree 0
    I can't imagine that the Privacy Commissioner wouldn't be disturbed by us posting private financial information about our clients and their property without the client's specific permission by way of a separate signed agreement. Yes, some people want to boast about their sale price to their friends around the dinner table, but to make that information public to the many low life types that would find a way to misuse the information is, in my opinion, not a service to the people we serve.
  • | 08 Apr 2015, 12:57 PM Agree 0
    I have been a Realtor since 1981. I have sold likely over 2000 homes. I currently carry 30 listings. My team will sell over 100 homes this year. When I sell my home, I do not go by owner. I listed my home on MLS and offered a great selling commission to the selling agency. I of all people should be able to sell my own house. We work with buyers with exclusive buyer service agreements. When a client says to me to send them all the solds in their neighborhood, I do. This is not my value. When I meet with sellers, I sometimes ask them if they wish to sell it themselves or would they consider just a mere posting for $755 and they do the rest themselves. As long as they feel they can net more themselves , on their own, let them go. We offer to credit their fee if they turn over their home to us to market at a later date. So sell it themselves? A resounding "NO" comes out of their mouths as to date 90%m/l want full service according to my stats. 90%m/l do not want to sell their homes themselves. A lot of sellers do not see your value because a lot of Agents don't know how to show/sell their value or the power of the systems that has been available to them. Sales stats or evaluations are not your value. Can you show them how to get the last $5000 out of their home and save them every dollar on their buy? Do you review with them possible terms and conditions that could better protect them in their purchase contracts? Do you take professional photos and send in a stagger on all your listings? Do you supply access to trades to help them get their house ready quickly to get the TOP Dollar. Do you just post it on Realtor.ca or multitudes of sites? What is your value? I was just asked to sell 3 rental homes for a couple. I asked what they wished to do themselves? They want me to do it all and even break the news to the tenants and meet with the tenants and are willing to pay me extra to deal with it for them. How are you different? What value do you bring? Commissions are negotiable. Thank goodness they are.
  • More Agents | 08 Apr 2015, 01:38 PM Agree 0
    Realtors of course have value but not 4-6% . Service like that is worth $1000-$2,000 per transaction tops. Accountants,lawyers ,dentist all charge Realistic Fees for their services. Like in any model their is corruptions,scams etc no matter how it is structured.... Cally Stop being so Naïve that anything is full proof.. Consumer are looking for Efficency.results and a realistic fee....And I am sure realtors when they shop for other services they throw the same crap right back ...bunch of hypocrites

    Most of these Dinasour agents talk like nothng is changing in the world!!
  • James | 08 Apr 2015, 04:58 PM Agree 0
    More Agents, if you would like to pay a Realtor "by the hour" then you will realize that all Realtors would be in a negative position if they simply charged $1,000.00. It simply will not cover the cost of doing business.

    Usually the clients that want such deep discounts are the ones that want the most of your time, at any hour, any day. Do the math, if I was to spend 40 hours on a client, that is $25.00 per hour. Deduct desk fees, car expenses, benefits (because we have to pay for our own!), licensing fees, photographers...what's left? You tell me.

    Unfortunately unless you walk the walk you will never get why it doesn't work. If that's the case, shut down organized real estate, TREB and let everyone sell their own house on kijiji and see the end result of the most expensive purchase most people make....litigation! Pay the Lawyers then.

    This isn't sarcasm, it's the raw truth of this industry. Unfortunately, yes, there are some greedy Realtors out there that need to get into this century. Perhaps a flat fee of $5,000 on homes up to $500,000? to list? Make a suggestion, but $1,000 does simply not work.

    These brokerages that are charging that are still doing business the regular way as well. Otherwise they could not afford to stay open.
  • MrLOFT.ca | 08 Apr 2015, 05:45 PM Agree 0
    Times are changing and I do not believe it's fair to agents to demand a 5% commission simply because we can tell a seller what their house is worth. I see my value to sellers as a internet marketing specialist. my Website MrLOFT.ca offers sellers great expsoure and we present our listings beautifully. Its time agents start improving their value proposition. I am sick and tired of seeing sloppy listings with bad photos. Have some pride in your work and develop a real Value proposition. Telling a seller the price is just NOT enough.
  • REality is a better name!! | 08 Apr 2015, 07:41 PM Agree 0
    Mr.Loft is speaking my language!! Consumers want efficiency at a realistic rate. Maybe a 1000-2,000 to list and 1000-2,000 for sales. My accountant,lawyer,dentist never hit me for any more than that. I have lawyer/dentist,accountant I pick his brain,gives advice for weeks and don't get a bill for 20,000-40,000... the party is coming to a end for these agents...HOME VLAUES sky rocketed not the value of the realtor...

    TIME FOR A REALITY CHECK!!!
  • RealtyPoint | 09 Apr 2015, 11:13 AM Agree 0
    Efficiency in the market will drive commissions down. This is true in every market, for almost every product or service.

    That being said, would a home seller be better off paying " a la carte" for services rendered? Should they pay "by the hour" for listings, home showings, area research, etc, no matter if the house sells?

    Being a real estate salesperson requires a lot of information to be aware of in a fast-changing marketplace. It is not simply putting up a for sale sign. And real estate people, the vast majority of them, are self-employed. No sales, no food on the table. 60,000 realtors in the GTA, 90,000 home sales in 2014.

    Lawyers, accountants, doctors, etc, require customers that want their services and expertise so they can make money. I have yet to hear someone complain about a successful lawyer's fees in the same breath when they mention a successful realtors fees.

    Consumers can always "go it alone", there's no end t the information available that makes it possible to sell your own home. They can list it, handle the legal paperwork, ensure escrow is handled, transfer the ownership and title, all of that. Just as anyone in the court system can represent themselves and anyone can try to self-diagnose and treat themselves.

    Often times the results are the same, don't you think?
  • MOre Agents | 09 Apr 2015, 08:13 PM Agree 0
    A lawyer ,dentist and accountant far more complicated in real estate transactions!!! The real part of the real estate transaction is done by the lawyer..

    Realtor looks up comparables,taxi,tour...lawyer makes it official!!! House prices went up why didn't legal fees go up the same?????? Only thing that went up were Realtor Commissions!!! Not because they are offering more but because of house inflation..
  • Norm Rousseau | 12 Apr 2015, 02:22 PM Agree 0
    I am in full agreement with the SOLD stats not going public. How many times over the years I have heard from a seller's neighbor commenting "My neighbor told me he got $525,000.00" when in fact the Real Estate board stats show that he got $509,000.00.
    Quite embarrassing for the neighbor.
  • Mike - Calgary | 12 Apr 2015, 02:27 PM Agree 0
    Why should the sales information of someone's private residence be public information when the Privacy Act says that a Utility company can not disclose what the utilities for that same residence are because of the Privacy Act!
  • judy | 13 Apr 2015, 02:32 PM Agree 0
    Then there's the other question....Does everybody who uses the services of a realtor pay us a commission???? I am not guaranteed I will be paid by the person who takes up my time and energy while the bills add up! I wish I was!
    I have often paid a dentist thousands of dollars for a couple of hours work. How about $41K to a lawyer for 5 minutes in front of the judge?
  • Confusion | 14 Apr 2015, 01:56 PM Agree 0
    Agents love mortgage wars,bidding wars, lawyers fee wars, picture taking wars,car pricing wars, hair products wars, suit price wars assistant hiring wars...but mention Commission wars and it gets confusing !!
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