CREA proposed a rule
requiring all Exclusive Residential Listings must be on MLS. It is proposed that it would be up to the individual board according to the FAQ page, to apply a penalty or something to make one comply and in my opinion seeing what happened in the USA you could lose your membership.
Are you for or against the CREA proposed rule forcing exclusive listings onto MLS?
This is our first attempt at a poll. Thank you to those who have responded with excellent and constructive criticism.
Improvements may come later. Opinions also can be made in the comments at the bottom of this page.
Please take a look at the results of the poll after you vote.
CREA proposed a rule requiring all Exclusive Residential Listings must be on MLS.
To be Voted by Real Estate Boards in April 2023 at CREA AGM
Your board may ask you to vote to convey a board vote to AGM. Have they asked for your vote yet? When will they give all a chance?
1st Article For: https://realestatemagazine.ca/crea-moves-to-end-exclusive-listings/
2nd Article Against: https://realestatemagazine.ca/opinion-the-public-needs-exclusive-listings/
Article in REM Magazine about ICIWorld. About exclusive networking type real estate opportunities. We call anything you cannot get signed to put on MLS as exclusive. It can be a signed exclusive listing or a verbal representation from a seller or buyer. For the verbal networking opportunities, no one identifies or gives the address until you have the consent of the owner in writing.
This new proposal may affect only eight listings on ICIWorld at first out of 30,000 exclusive opportunities because they say it only affects residential. However, there is a problem with the definition of residential.
However, the definition of residential versus commercial may be another matter.
- What about a residential home in commercial zoning?
- What about a home with a business?
- What about five residential homes in a row that are development potential infill sites?
- What about a home on a farm or land?
- What about investment properties such as duplexes and triplexes, which are investment properties?
- What about investments in condos and single-family homes to be rented? This is an investment. ICI stands for industrial, commercial AND investment.
- There are duplicate uses for properties, homes and investments.
- What if the homes sit on an industrial or commercially zoned property?
- What about owners with a luxury property who want their property exclusively marketed?
So saying the rule would only apply to residential, not commercial, may be blurred, and is that an issue?
And there is no need for this rule if real estate brokers and salespeople put their exclusive opportunities on an information listings service (Such as ILS.realestate powered by ICIWorld) that shares exclusive opportunities provided by the ICIWorld Association of Real Estate Brokers and Salespeople made for this purpose to network and share exclusive real estate with the public and on each other’s websites with IDX links.
NAR did not have this choice.
Demonstrating how brokers can provide services to the public with exclusive real estate and make money.
Demonstrating how brokers share their exclusive real estate opportunities and listings on each other websites.
Some arguments for the motion to force exclusive onto MLS because of not sharing and because they are made available to the public are wrong.
Please look at the testimonials of brokers successfully sharing and working exclusive type real estate information in a confidential manner, competently and professionally on behalf of their prospects and clients.
January 8, 2023. If the industry removes the opportunity to network exclusive opportunities in real estate, it removes the ability for artificial intelligence to help the industry in this aspect. Networking information increases transactions contributing to the GDP of a country and increases the well-being and prosperity of people. Remove the opportunity to network exclusive real estate opportunities, and you limit the benefits to people of trades in real estate. MLS is one of the best ways to sell real estate, but it is not the only way. We support MLS and always want it to continue. But not at the expense of eliminating other ways to sell real estate. See My First Experience of AI.
24/11/2022 @ 9:30 AM
The exclusive listing must not be on MLS.
Vera Ann Holman
25/11/2022 @ 1:45 PM
Often Exclusive listings require another sales agent wanting the information to sign what
ICI agents use as a “Confidentiality Agreement,” to be signed by both the potential buyer
and the Realtors involved.
For this very reason, putting all the advertising on MLS defeats the seller’s privacy and
01/12/2022 @ 9:46 PM
The right and choice will be taken away from the seller to do what they want.
I will become a contract to act for an individual not a property.
09/12/2022 @ 10:34 AM
All MLS listings by their nature are “exclusive” listings but not all “exclusive” listing need become MLS listings. That is a business decision between the Client and the Brokerage..
09/12/2022 @ 11:21 AM
The property owner is our client. If our client has the financial ability to own a property, he/she must have the skills it takes to earn enough money to support home ownership. To assume that the home owner is not smart enough to make an informed decision and has to rely totally on the advice of a real estate salesperson, is really arrogant.
We are here to guide, not to lead. There are many reasons for the seller to choose an exclusive listing over MLS, but the main one is that it is the vendors decision, not the salesperson or CREA.
10/12/2022 @ 12:31 PM
CREA. This is democracy. Sellers have the ultimate decision and they choose Exclusive otherwise, they are always free to go the MLS route. There must be an Options just like it is now for privacy.
12/12/2022 @ 6:29 PM
I Think ALL Exclusive Listings Should be on the MLS…as an agent for 30 years now and I am in contact with Multiple sellers of Large Commercial buildings and Multifamily… that the broker has a listing and is exclusive….they been trying to sell for years with no solid buyers…. I get the listing and on average sell it within months non MLS exclusives do not do the seller justice in many cases…
Please note: from this email…duplex’s Tri’s and Quads are not commercial properties even though they are income…. 5 or more are considered commercial because that is a commercial loan situation…..
keep up the great work
17/12/2022 @ 10:09 AM
I don’t encourage a mandatory rule . The benefits out weight the negatives but I’m not in favor of force !!!!!’
05/01/2023 @ 11:31 AM
Mike, If The Seller has decided to List the property as Exclusive, He/She must have had a reason why they wanted to go that route. I and most other realtors will and do cooperate on Exclusive Listings with other realtors. RECO cannot and should not be the ones deciding how a Seller wants to sell their property. RECO should be representing and working for their realtors and not imposing rules without the approval of the membership. I believe we are living in a democratic country and not in a dictatorship/communist country.
10/01/2023 @ 1:07 PM
Seller’s decision, not CREA’s
Suzanne Lemaich L
12/01/2023 @ 10:26 AM
Not all but a good percentage of sellers who want an exclusive are not serious about selling. Realtors that take exclusives could be potentially looking at double ending them. The only reason I want them on the MLS, is so my client won’t call me and ask why I don’t know about this property. Otherwise, we have more serious issues then Exclusives
Gary Nusca, CCIM
12/01/2023 @ 6:13 PM
You have just made a great case why all real estate boards and associations should have the ICIWorld information listing service working for their members. The ICIWorld Association of Real Estate Brokers and Salespeople provides a platform to network and display exclusive real estate opportunities so you can see them and be aware. See one of our 100+ websites and domain names https://ILS.realestate all powered by ICIWorld operating since 1994. And further, we provide an IDX link so you can actually have the exclusive listings offered on YOUR website with an IDX link and in a way that YOU get the calls. Now that is sharing, something that is missing by all brokers in the world except members of ICIWorld.
You should see the comments of attendees from the seminars and webinars that we conduct where we ask the question “would you like your real estate board to provide this service for your members?” They all agree! It does provide more opportunities for the public, added income for Realtors. Additionally the public is protected because brokers and salespeople are trained in consumer protection.
So there is a way for all real estate brokers and salespeople in the world to network and work all the exclusive opportunities, FSBOs, etc. in the marketplace in a way to share them with each other. We teach it in recorded Webinars On Demand.
At the very least there should be one real estate board in the world who should engage us to help it work for all their members. To date we have not received one call but my phone is on and I am still alive to help to make it work. In the meantime brokers are joining individually, making money and serving the public successfully. See testimonials.
13/01/2023 @ 1:21 PM
This is another example of property rights being taken away by gov’t & other organizations!
The owner has the right to decide when to use, rent, sell, etc the property. Why should anyone be forced to list on MLS?
When did Canada become a dictatorship…what happened to “rights & freedom”?
We should not allow a few law/policy makers to dictate to the population of the country!