CREA to vote on changes today
The Canadian Real Estate Association is set to vote today on proposed changes to the rules governing use of the MLS after pressure from the Competition Bureau.
The rule change could remove the requirement that a realtor act as agent for the seller “throughout the entire time” of a listing contract, making it possible for agents to post property information through the MLS without providing more service.
..meaning that a realtor would be able to charge a flat rate for simply listing a property and not be involved in the rest of the sale.
UPDATE: The CREA has voted for the new changes and the Competition Bureau has said it’s not enough:
“There is nothing in these proposals that we haven’t seen before and they do not solve the problem,” said Melanie Aitken, Commissioner of Competition. “They are a step in the wrong direction. These amendments amount to a blank cheque allowing CREA and its members to create rules that could have even greater anti-competitive consequences.”
The two sides have been battling over access to the Multiple Listing Service system, which is owned in Canada by CREA and responsible for about 90 per cent of residential property sales.
The watchdog says the association’s new measures, which ultimately give consumers some ability to decide how much they use a Realtor on a deal and allow consumers to conduct parts of a transaction without using a Realtor, do not go far enough.
March 24th, 2010 at 1:13 pm
The reason the CREA should be required to open-up MLS is because they are a government-regulated monopoly. You have to take courses from them in order to become a Realtor, and then you join their association in order to stay a Realtor. This is because of the government's licencing requirements. In such a situation, the government has the right to intervene where they are making outsized returns as a result of their sponsored monopoly.
March 23rd, 2010 at 12:37 pm
47 Damann
Below are Chipman's words yesterday…
No where has he posted TODAY about his areas. Feel free to cite his words by referencing a post and comment number.
It is funny that AFTER you posted this comment you went back to Chipman to seek clarification (comment number 83 – and Chipman's posts are time stamped one hour before actual postings)
Getting a little ahead of yourself eh?
*********************************
v-dog:
“I thought Rob’s were the real and total REBGV/FV numbers. I thought he changed to that a few months back.”
They are, and have been for much longer than a few months. More like years, I think. Complete REBGV and complete FVREB.
March 23rd, 2010 at 11:41 am
@Dr. Know:
Rob stated TODAY. "My target areas has not changed for years" He full well said many times that he omits a few areas. Why he stated as well today that he has all areas is beyond me.
Dr. Know, I will make you a deal. At the end of the month we use REBGV numbers and I bet you Inventory is a match and Chipman is not. If I win you never post here again and go post on his blog. Chipman has NEVER matched the REBGV numbers…ever. I have no idea why he doesn't acknowledge this. Paul's old blog used to use and match the REBGV numbers to a T, Agent will and Chipman do not. Hell, even Realestate Talks ( what a mess) uses the proper numbers. I don't even know why this is up for discussion.
March 23rd, 2010 at 7:51 am
45
You might want to read his latest 2010 acknowledgement of his area, not his 2006 statement of his area. See my previous post.
March 23rd, 2010 at 12:18 am
Dr. Know – You might want to read Rob's post entitled "What's My Market Area, Anyway?"
http://rireb.blogspot.com/2006/02/whats-my-market…
March 23rd, 2010 at 12:03 am
I think we *clearly* need to avoid inviting Dr. Know to our 15K party in a week or two. He's no fun!!!
(BTW, as I recall, the difference is that Chipman doesn't include Whistler or he doesn't include lots for sale or something like that. 'Inventory' gets his numbers from the MLS.)
March 22nd, 2010 at 11:41 pm
Sorry VHB (#6) but it looks like Rob Chipman IS posting the "complete REBGV" stats, not stats from his "own area."
Try looking at this acknowledgement in comment #61 on his March 21st posting. And Chipman's stats show inventory at 12,871 – not 14,000 plus.
So maybe before you start cheerleading the stats from one of your posters who claims that inventory is at 14,000 plus just because you like his numbers, you should do some due dilligence…
Hmmm..maybe there is no "transparent misinformation campaign" on my end…
March 22nd, 2010 at 9:42 pm
It's pretty obvious that the specuvestors have been the ones driving this market for quite some time. The party will begin in spring when these greater fools are expected to surface. When they don't that is when they will be a rush to the exits and our little piece of cold rainforest will return to value as fear and common sense tell us. Real Estate bulls in Vancouver have little common sense but much to their chagrin have tooo much accessable credit.
March 22nd, 2010 at 9:28 pm
@Dr. Know:If you don't understand my post then you are fucked!
If you don't know who is VHB then you are fucked!
If you don't understand what VHB explained to you then it's time to see another doctor.
If you don't know who is Kingston then you can't even see listing fire burning on the dance floor and that's mean you are fucked again.
I wish you were not #5 but if you happen to be number 5?
You are fucked.
March 22nd, 2010 at 8:23 pm
Just posted the numbers in the tracking thread on the forum:
http://vancouvercondo.info/forum/topic/daily-numb…
That sell/list ratio is crazy, we're on track to hit inventory of 15k by end of the month. You can't troll away the truth cheerleaders!
March 22nd, 2010 at 8:18 pm
@me:
Woo hooo!!
321 new listings, the best we've seen yet.
March 22nd, 2010 at 8:12 pm
Oh great, someone has been trolling using my name. I've gone ahead and registered for an acount, that will stop them from posting under my nick right?
I wonder if they noticed the irony of trying to talk up the market under the name 'mark-downs'?
Fuck you bull-troll.
March 22nd, 2010 at 8:04 pm
are those stats bullish enough for you Dr. Dunce?
March 22nd, 2010 at 8:04 pm
Vancouver East & West*
New Listings – 122
Back On Market Listings – 0
Price Changes – 38
Sold Listings – 34
Vancouver All Areas*
New Listings – 321
Back On Market Listings – 6
Price Changes – 160
Sold Listings – 96
*Attached & Detached @ 03/22/2010 19:57 PST Courtesy REBGV. Data believed to be accurate but is not guaranteed.
March 22nd, 2010 at 8:04 pm
I personally know three people at work who have places listed for sale. I do not know anyone who's looking to buy at this time.
But what do I know, I'm just a silly cub…
March 22nd, 2010 at 7:58 pm
How is this change going to bust up the Realturd cartel? The pricks will just charge 4% of the asking price to post your home on MLS and do no more. What needs to be done complete and unfettered access to MLS without any interference of a Realturd.
March 22nd, 2010 at 7:41 pm
@Mark Downs Syndrome:
Could very well be a spike in sales in the next couple of weeks, Markie boy.
Because in less than 4 weeks the new rules take effect.
And then you cheerleaders are fucked.
March 22nd, 2010 at 7:31 pm
@Big Sam:
If there's one thing the last 3 years of following Vancouver RE has taught me, it's that most people around here will follow the other sheep like, well sheep.
In particular, everyone had the same brilliant plan: "I'm going to sell after the Olympics and make a killing". Is it any wonder, then, that, lo and behold, everyone is suddenly selling, and hardly anyone is buying?
March 22nd, 2010 at 6:59 pm
My friend put his place on the market, in Yaletown, one month ago and hasn't had an offer.
He expected the Olympics to increase the demand but it hasn't happened.
It looks like some buildings are getting close to completion in the yaletown and north yaletown areas. All sorts of specuvestors will be trying to get out of those too.
So all sorts of supply, tighter mortgage standards, declining job market, negative sentiment as people (and sheep in the case of kite to the moon) realize they fell for the hype, aging demographics and finally no one who can actually afford to "own" any of these properties without inflation causing low interest rates….
Clearly I should hurry up and buy since i didn't 6 years ago?
Or perhaps some guy pretending to be illiterate and spewing garbage will sway my opinion?
Who wants a $400k condo?
Who here wants to go look at some rentals this weekend and see who can get a landlord to agree to $1,000 per month for a unit that they managed to get $1500 for last year?
I know it can be done because I have been looking a lot lately. I've never had realtors/landlords call me back so many times after saying "no thank you, not for $1500" and them seeing what my maximum bid was.
I'd have been nicer if they'd been realistic to begin with but since they aren't being realistic I'm not going to be realistic and I offered $850, not only because they wanted too much in this market but also because I knew they were such amateurs that there'd be trouble.
Arit, you are obviously a clever guy and this must make you smile, no?
Why don't we book back to back appointments with these clowns and point out units that are cheaper in the same building.
If anyone wants I can show you a junior one bedroom that should go for $1200 that's posted on craigslist for $1600 right now, total fools…..
March 22nd, 2010 at 6:31 pm
^^^^ that being said, I do appreciate the numbers Inventory, as do all bulls and bears alike
thanks
March 22nd, 2010 at 6:27 pm
inventory – sales information lags, no?
did you not see how busy it is out there…
Larry is talking about multiple offers…
think inventory will be knocked down soon…
March 22nd, 2010 at 6:22 pm
Mar 18, 2010 = 14042
Mar 19, 2010 = 14103
Mar 22,2010 = 14240
15,000 party at April!
March 22nd, 2010 at 6:11 pm
following up on my last comment – it is amazing how quickly the Competition Bureau made a statement regarding the CREA vote. Must be because CREA was trying to sway public opinion.
March 22nd, 2010 at 5:54 pm
high signal to noise – must be a lot of worried RE 'professionals'
CREA changes are window dressing – what they want to avoid is providing sales history and opening their monopoly to other providers. Interesting that a free-market player such as Realtors don't want competition where it would serve the public interest.
March 22nd, 2010 at 5:51 pm
Apparently the changes don't allow publication of the seller's contact information (required to support FSBO) and the "no strings attached" MLS posting is still not supported.
No surprise the Competition Bureau is still asking for more changes.
March 22nd, 2010 at 5:45 pm
I will laughing at you bears from this point forward.
You have screwed yourselves, getting excited about 14k inventory.
But sales information lags.
Watch – in the next two weeks, sell-list ratios will go through the roof and prices will increase with multiple bids.
You will be kicking yourselves for talking down the market.
But right, the bubble will collapse.. this being what, the 6th year of a supposed bubble? lol
March 22nd, 2010 at 5:20 pm
Changes were approved but it sounds like they were lip service at best. The competition bureau is still pursuing its case. It's a fight Realtors can't win. Obviously they want to go kicking and screaming, just like the housing market in general.
March 22nd, 2010 at 5:18 pm
sales exploding this weekend…watch for Larry’s mucho bullish dailies
realtors are telling me its hot hot hot…
Spring is here and so are the buyers
March 22nd, 2010 at 4:47 pm
@rubberduckie:
No they don't. Anyone can search the land titles by getting an account with BC Online.
https://www.bconline.gov.bc.ca/
March 22nd, 2010 at 4:33 pm
Google Reader inserted some ironic contrast into my day as I was browsing this story:
http://i.imgur.com/fWZZe.png
March 22nd, 2010 at 4:07 pm
ay. RE alwauys goes upadadasd
March 22nd, 2010 at 4:04 pm
kite to the moon is the same troll taht calls itself satv,thumsup,krissh etc.
it's a bear that pretends to be a bull to make other bears laugh. He sometimes calls himself John and Dave too.
Anyone else notice one of the penthouses at spectrum is available for rent furnished? this might not be the same penthouse that you can find using google and searching for prosties in vancouver but rumour has it one of those units was being used for special massages and at least one poster on here stated he'd been there?
Imagine renting a furnished rental only to find out it'd been used as a whorehouse.
March 22nd, 2010 at 3:49 pm
Las Vegas – the underwater mortgage capital of the world with 81% now drowning.
Vancouver – YOU'RE NEXT!
http://finance.yahoo.com/real-estate/article/1091…
March 22nd, 2010 at 3:35 pm
Snoop Dogg was in Vancouver …..sit down for this……he didn't buy a condo. Now, for all the pretense and fartcatching this spells big trouble.
I'm suggesting AAAALLLLLLLL Bulls get out there and buy treeeeeeeeeeeeeeeeeeeeeeeeeee' before they run out of land.
March 22nd, 2010 at 2:39 pm
What consumers really need is access to sales history.
Without knowing what similar properties have sold for, how can we price our homes for sale, or come up with an offer price?
That's the information have a monopoly on, not listings.
March 22nd, 2010 at 2:15 pm
"In Vancouver it’s different and everyone treats it properly so it will never go down."
Except when it dropped by 15% in the beginning of 2009, you mean.
March 22nd, 2010 at 1:48 pm
It looks like the budget is being an issue lately and professional requirements for the paid blog trolls got lowered, therefore we can now see illiterate ESL newcomers like Kite towards moon posting way more frequently then their expensive colleagues like Dave and others that were more active before.
March 22nd, 2010 at 1:21 pm
Nowhere did any bull say that real estate goes up forever because that's not true. Real estate went down in the past and in the US because people took it for granted and didn't treat it properly and got bad loans. In Vancouver it's different and everyone treats it properly so it will never go down.
March 22nd, 2010 at 12:06 pm
Dear lord, Kite Over the Moon…
Your incoherent ramblings do nothing to support the bulls…
Even I get a headache trying to understand what you are trying to say…
And that is only if I don't gloss over your gibberish diatribe to begin with…
I can only imagine how painful it is for the bears to read…
March 22nd, 2010 at 12:05 pm
my realtor is sending me townhouses in Coquitlam in the 300k-400k range. The number of emails doubled in the last month
March 22nd, 2010 at 11:30 am
@Dr. Know: Infact he is an employee in the rebgv and once he gotta have to bring his site down under pressures from his boss.
Dr,There is nothing wrong to keep the inventory numbers over 14k even 22,700.00. did not shake the ball of Kingston.
Regarding Article:
The sales will pick up more where listing realtors prefer first hand sales to pick up full commissions.Now the buyers will be on priority sequences instead of realtors.What was there before? In bid to sell first hand,realtors use to ignore other realtors specially buyers realtors because In that case2 realtors use to share their commissions in half and half.I would prefer direct sales between buyers and seller and take the entire commissions out to extra lunch and party for buyers and sellers or pour some money on reno.
March 22nd, 2010 at 11:15 am
… Also Mohican!
The analysis at many of these sites were terse, to the point, and based entirely on local fundamentals: a very clear case.
March 22nd, 2010 at 11:13 am
And the new April 19th mortgage rules will have little effect according to Garth you hero
I'm really happy for Garth's voice, and am glad that he's talking because it makes it harder for there to be a post pop "Whocouldanode" – but VHB, Freako, the Pope, etc., were all doing this analysis way before Garth popped up on my radar screen! If I were to pick west coast bubble blogging heroes, Garth would have to get in line. *g*
March 22nd, 2010 at 11:00 am
Dr. Know: Your campaign of deliberate misinformation reminds me of those in the US who got the populace all excited about 'death panels' and 'government-funded abortion' in the US health care reform.
You are making stuff up.
As we have told you before, the 14K is from the entire REBGV. Chipman and others use their own area definition. You can't compare across apples and oranges. I like the REBGV numbers because they are consistent and verifiable with the REBGV's monthly reports. Chipman and Will can do what they like.
In any case, your transparent misinformation campaign will fail. It will not make the 14K inventory go away. You are entitled to your own opinions. You are not entitled to your own facts.
March 22nd, 2010 at 10:40 am
Yup, I am seeing plenty of sold signs everywhere and lots of young couples out shopping…
The Spring buying market is here and it will eat up the inventory…
And where is this 14k inventory? Agent Will and Rob Chipman’s numbers don’t show this….you are trusting an anonymous blogger posting information…
And the new April 19th mortgage rules will have little effect according to Garth you hero….Flaherty has done a 360
Watch for the super spring market where inventory will dry up and prices increase
March 22nd, 2010 at 10:40 am
Realtur – you need to learn the concept of ergodicity.
March 22nd, 2010 at 10:19 am
Bears I'm seeing a serious boom in sales this month. The last couple of weeks have been incredible. I'm looking at another record year here.
March 22nd, 2010 at 9:45 am
The Competition Bureau has a few more levels of severity in its back pocket. I expect the CREA knows this.
March 22nd, 2010 at 8:44 am
If they vote against the "a la carte" approach, what recourse does the Competition Bureau have?
I.E. does the vote really mean anything or would they just be delaying the inevitable?
I simply don't have enough faith in Realtors for them to do the right thing.