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.

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VancouverGuy
10 years ago

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.

Dr. Know
Dr. Know
10 years ago

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.

DaMann
DaMann
10 years ago

@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… Read more »

Dr. Know
Dr. Know
10 years ago

45

You might want to read his latest 2010 acknowledgement of his area, not his 2006 statement of his area. See my previous post.

KopyrightKlepto
KopyrightKlepto
10 years ago

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

VHB
VHB
10 years ago

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.)

Dr. Know
Dr. Know
10 years ago

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…

Disbelief
Disbelief
10 years ago

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.

Kite towards moon
Kite towards moon
10 years ago

@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.

Mark Downs
Mark Downs
10 years ago

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!

Best place on meth
Best place on meth
10 years ago

@me:

Woo hooo!!

321 new listings, the best we've seen yet.

Mark Downs
Mark Downs
10 years ago

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.

me
me
10 years ago

are those stats bullish enough for you Dr. Dunce?

me
me
10 years ago

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.

silly cub
silly cub
10 years ago

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…

Chilled
Chilled
10 years ago

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.

Best place on meth
Best place on meth
10 years ago

@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.

Yalie
Yalie
10 years ago

@Big Sam:

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.

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?

Big Sam
Big Sam
10 years ago

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… Read more »

Anonymous
Anonymous
10 years ago

^^^^ that being said, I do appreciate the numbers Inventory, as do all bulls and bears alike

thanks

Anonymous
Anonymous
10 years ago

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…

Inventory
Inventory
10 years ago

Mar 18, 2010 = 14042

Mar 19, 2010 = 14103

Mar 22,2010 = 14240

15,000 party at April!

Animal Spirit
Animal Spirit
10 years ago

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.

Animal Spirit
Animal Spirit
10 years ago

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.

jesse
10 years ago

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.