A recent announcement from CREA indicates that any exclusive residential listing that is to be advertised in any format must be posted on MLS.
Essentially, exclusive listings for residential properties would be eliminated. This was the case by the National Association of Realtors (NAR) in the USA in 2020, and it appears that CREA is following their example.
I recently made a comment on this on Facebook and received 193 replies, so I will dispense with “writing an article” and instead post many of the legitimate reasons why exclusive listings have been and will continue to be necessary.
In no particular order, and I have condensed the comments.
• Chronically ill sellers who want and need to restrict viewings; we are reminded of this past pandemic, the lockdowns and the fears of many who needed to sell but did not want a great deal of human contact
• High-end personalities, celebrities, and the very wealthy do not want the public to see photographs of how they live, nor do they want a bunch of gawkers wandering through their homes.
• Divorce and legal actions where they want no pictures and very secretive exposure.
• Seniors and hoarders. An agent takes an exclusive and takes weeks to get it cleared, cleaned and restored before offering it on MLS. It is prudent to take an exclusive in this situation and advertise it “as is” or “to be renovated to your taste,” amongst other actions.
• Senior residents who did not speak English and clients who did not want their mom out on the streets during showings. They wanted control of their situation.
• Hoarders who were ashamed about how they lived and refused to be on MLS.
• People with pets who can run out or be scared.
• People with valuable collections from art to coins. They want buyers vetted and not open to the public.
• Assignment sales where developers have stated, “assignments cannot be listed on MLS.”
• People who have been traumatized by stalkers and are fearful.
• One had a client with over 100 legal firearms in the house and refused to be on MLS.
• Farms – the sellers did not want their neighbours to know about their business and life change.
And more…
Bottom line, many wrote, “this is for the sellers to decide, and they can opt-in to an exclusive over MLS for a myriad of reasons which is their prerogative. No one should restrict a seller’s right to be less open and more in control of their situation.”
And my take is that there are laws in Canada about restrictive trade practices, and this smacks of that.
CREA, think twice. We are not NAR, and American laws are not always welcome in Canada. I see a great deal of pushback from the membership, and I expect most resistance to start with the upper echelon of realtors in Canada who deal with the super-rich.
Barry Lebow, FRI, Master-ASA, ABR, SRES, is one of Canada’s most recognized real estate authorities. Now in his 54th year of professional real estate, Barry has been honoured by many real estate associations for his work in the profession. He has testified in more than 500 trials across North America. He is the founder of the Accredited Senior Agent designation program. A teacher, trainer and educator, he is an active broker at Re/Max Ultimate Realty in Toronto. Visit barrylebow.com to contact Barry.
Hi I agree with this 100% In certain spots we need exclusive listings!
Barry…once again, well thought out. Exclusive listings have been a staple in our industry for over 50 years and have served clients with unique requirements. Save and except for the self interest of a registrant to list a property exclusively there does not appear to be a sound and justifiable reason for CREA to impose such a ruling. The discretionary decision of a seller to select the exposure best suited has been arbitrarily imposed upon them.
Totally agree, and they need exposure. Its a great tool we have Realtors and homeowner’s turn to sellers.
Bang on Barry! Exclusive listings are an essential part of our business for the reasons listed above and then some. CREA is offside in their stance and it should be consumers who decide. We don’t need to follow NAR’s path on everything.
Exactly Barry.
I’m Steve Saker with the London St.Thomas real estate board. I have been a realtor for 40 years and there is many situations that require an exclusive listing.
Thanks Barry for the list, please add Businesses for Sale to the list.
Most of my Businesses for Sale are listed Exclusively, as Sellers do not wish to advertise company names as they may loose clients and especially hard to replace experienced staff. Also competitors would take advantage of this and the Seller may loose market share.
Having the sale advertised on MLS could cause a drop in company value for many reasons. Commercial brokers need to have the option of MLS or Exclusive.
Well said.
There are reasons why some Sellers opt for no MLS listing however wish to retain services of a Real Estate Sales person. During situations where Sellers are waiting for probate (lengthy time-line) or going through messy separation they may wish to keep things quiet. Under normal circumstances it is better to place listing on MLS for full exposure & best price…this being said a competent, experienced Salesperson should know the market value of a property without guessing! If they eliminate multiple representation then respecting wishes of Seller for no MLS listing should not be problematic.
There are reasons why some Sellers opt for no MLS listing however wish to retain services of a Real Estate Sales person. During situations where Sellers are waiting for probate (lengthy time-line) or going through messy separation they may wish to keep things quiet. Under normal circumstances it is better to place listing on MLS for full exposure & best price…this being said a competent, experienced Salesperson should know the market value of a property without guessing! If they eliminate multiple representation then respecting wishes of Seller for no MLS listing should not be problematic.
Hooray!!! Three cheers Barry! ….. I do many exclusives for some of the reasons you’ve described. When I saw that crea article I reacted much like you did.
I agree with this article. And I really tire of us mirroring NAR.
In my opinion, sellers always have control. If they want their home sold, then some concessions need to be made on their part too.
Sellers can choose when they want showings, celebrities can have a hybrid version of a pocket listing. There are always work arounds
I don’t know how you can ill serve your client by trying to get him the most money? Unless he has exposure of the full market I’m not sure how I can do that? Or I’ve seen a lot of exclusive listings that an agent just prefers to control and hopefully double end with little regard for the seller. I understand the need for privacy and safety…Listings on the MLS can still ask for specifics, buyers to be vetted and pics can be limited or eliminated and even requiring the listing agent to be present for showings if necessary.
I think exclusive should be outlawed unless there are special circumstances that would potentially harm the Seller.
We have many Exclusive Listings for sale on the market varies reasons of which many Barry mentioned. An important factor is that this is a legal contract between the Seller and the Brokerage, and not the Seller & CREA.
We Co-operate with other realtors on all our Exclusive Listings and have many times. Mentioning placing an Exclusive Listing only to double end it absolutely a misleading comment.
I disagree with you Tom. It is not misleading. If the agent and or seller doesn’t want anyone to know the house is for sale and the agent isn’t trying to double end it, why is there a sign out front? Exclusive listing with very few exceptions are designed to benefit the agents/companies pocketbook. They work against the benefit of the seller.
I am in total agreement with Amanda Dominique’s comment. There are special ways of explaining in the listing remarks specific circumstances about limitations in showings and other conditions. I believe the arrogance is in the exclusive listing agent who wants to double-end a property and in my opinion, this is not providing the best service to the seller because it’s limiting the exposure that MLS provides.
You made two false assumptions in your argument.
1. A listing on MLS will be guaranteed the highest market price for the seller.
Experienced agents know you can get property below market value because the mistakes that the seller or the listing agent made.
2. The seller’s primary objective and only objective is the highest sale price possible.
Many sellers have a price target. Once it is hit, their focus would be on other things that might create extra stress or unnecessary risk.
That’s when the seller would need the option of exclusive listing that’s catering to their needs and wants instead of the rules of MLS and the need of cooperating agents getting paid.
They also made a third assumption, that it is agents double ending that want this. I have never double ended a residential transaction, and I don’t see that changing. I am also against the rule changes. This is going to force an ever larger portion of sellers to list privately out of CREAs protection, which is a bad thing.
It it indeed a terrible thing, Michael. Imagine more sellers turning to the unscrupulous wholesalers because our profession didn’t have the options catering to their unique situations and circumstance. They don’t need MLS. They need a professional REALTOR with the know hows to make informed decision as opposed to getting gutted by the wholesalers without realizing it.
I totally agree with Amanda. I didn’t see anything in Barrys remarks that couldn’t be handled with showing instructions on MLS. Most exclusive listings are designed to double end the house and have nothing to do with the sellers’ right to maximum exposure. You should give more thought to your post Barry.
We still live in a free society. How a Seller chooses to have their property marketed is their business and no one else’s.
One thing to keep in mind if we go to all MLS. Then the seller can choose to have their photos virtually staged. Then there will not be any personal effects in the photos. A seller’s direction can also be signed as to when and how a property is shown. So these things will help with sellers wanting a bit more control and still being able to get the best exposure to get the best price. We also need to be extra cautious of multiple representations when it is an exclusive listing. I have also found that brokerages that have exclusive listings can be difficult to cooperate with, and our buyer clients start to question our professionalism. Just some thoughts to keep in mind.
As always well written with so many important points mentioned. Sellers are furious hearing what CREA is doing.
Some may be, especially if the listing agent promised to cut commission if the unit is double ended or if the listing Realtor emphasized negatives to encourage sellers to only allow them to show. Listing Realtors could also highlight the trustworthiness, etc., of Realtors.
Disallow double ending, although many will find a way around that, and many complaints re. disallowing exclusive listings will disappear.
There is an agent who seemingly pays for Globe and Mail articles that state how she double ends particular properties without putting the listings on MLS. Seemingly, most of her higher end listings are double ended without being added to MLS meaning, for one thing, that stats are not included in MLS comparables.
Some sellers or buyers in particular areas come to think that only by listing with certain agents or calling them to show, if possible, will their homes be sold or think they will be able to find a home in their preferred area.
Then there is compartmentalizing in other ways.
CREA should do a public/membership inquiry and see how this new policy sits with everyone. Instead they blindly follow NAR and disregard any views held in their market.
If CREA decides to do this volunteerly, instead of by mandate or law, they can still salvage the situation…
Good for you Barry, I have had discussions with other Brokers and we are in agreement.
Although few of these concerns may be handle and controlled while the property is listed on MLS, but there are many legitimate and valid scenarios indicated in the article which can only be properly accommodated in an exclusive listing setup.
And more importantly, who can dictate to property owners how to sell their homes and who much public access and exposure is right one for them. The new CREA decision is completely wrong and unjust. I really wonder if the public realizes the implications of this new ruling.
Firstly, Barry, thank you for sharing a summary of your Facebook postings in an article. I totally agree and have experienced most of these situations over my 30+ career. Having choices for the sellers is essential. CREA is trying to fix a hairline crack with a full blown wrap around the foundation. I suspect issues around some Coming soon practices inconsistencies and few realtors favouring their clients in a competitive situation is at the origin of this maybe. The US real estate is very different to Canada. A quick example, and I don’t know if this is still true today but in New York a couple of decades ago most realtors were totally operating off the MLS and many not cooperating on their exclusive listing. This takes us back to 1960’s-70’s in Canada!
The concept that we as realtors have the authority and nay the right to demand all listings be placed on the MLS is an exercise in arrogance. It makes as much sense as did Treb policies to dictate commission rates and refusal to post mls listings of non members. There are many circumstances I use exclusive listings and pocket listing agreements for properties as it is illegal for me to promote a property if I don’t have a listing but I have a property owner who has asked me to do work , eg help in rezoning, conservation issues, renovation or other property related issues which affect an mls listing but for which I need to protect my right to a sale commission .
You do not need to be a member of CREA to be licences to sell real estate and you don’t need to use MLS – indeed you will just increase the chance of dividing Realestae as an alternative mls system would be relatively easy to create .
Indeed the amount of information we demand be provided to place it in the mls which is then totally exploded out to everyone is potentially an issue. I don’t say it isn’t important but I do question why we are so fast to make it available to everyone?
I do not support the idea that agents must put all their listings on the MLS and i am very much if the opinion it would be considered as anti competitive, indeed dare I say monopoly, that attacks a property owners common law rights.
In canada property owner have property rights founded on 800 plus years of common law. If they want to sell without using on the mls that is their decision and if I am prepared to take on the listing under those terms that is my right to decide.
I do not support this CREA mandatory mls policy. I also do not believe the mls organization has a legal right to place any such restriction on an agents marketing ability.
Don, totally concur with your statement: I do not support this CREA mandatory mls policy. I also do not believe the mls organization has a legal right to place any such restriction on an agents marketing ability.
The concept that we as realtors have the authority and nay the right to demand all listings be placed on the MLS is an exercise in arrogance. It makes as much sense as did Treb policies to dictate commission rates and refusal to post mls listings of non members. There are many circumstances I use exclusive listings and pocket listing agreements for properties as it is illegal for me to promote a property if I don’t have a listing but I have a property owner who has asked me to do work , eg help in rezoning, conservation issues, renovation or other property related issues which affect an mls listing but for which I need to protect my right to a sale commission .
You do not need to be a member of CREA to be licences to sell real estate and you don’t need to use MLS – indeed you will just increase the chance of dividing Realestae as an alternative mls system would be relatively easy to create .
Indeed the amount of information we demand be provided to place it in the mls which is then totally exploded out to everyone is potentially an issue. I don’t say it isn’t important but I do question why we are so fast to make it available to everyone?
I do not support the idea that agents must put all their listings on the MLS and i am very much if the opinion it would be considered as anti competitive, indeed dare I say monopoly, that attacks a property owners common law rights.
In canada property owner have property rights founded on 800 plus years of common law. If they want to sell without using on the mls that is their decision and if I am prepared to take on the listing under those terms that is my right to decide.
I do not support this CREA mandatory mls policy. I also do not believe the mls organization has a legal right to place any such restriction on an agents marketing ability.
CREA and NAR have just opened the door to new models in Real Estate that are not members of organized Real Estate (MLS) to service those that wish or need to be listed exclusively…
Barry,
I am a firm advocate of all that the MLS has given us, and all the great people who have worked to make it happen.
I would agree that thos appears like a restrictive trade practice. It seems like CREA has gone beyond its mandate to dictate that a private company can’t advertise it’s exclusive listing with a sign or on their own website.
Ian
Great notes Barry. I definitely lean towards more options/freedom than less, much like yourself (it seems.) That said, in an effort to steelman the contrary position, what negatives are there to allowing exclusive listings to consider? Right off the bat, and I think they’ve been mentioned here already, you’ve got unethical realtors trying to double-end at the cost of max exposure, and the fact that normally the best exposure comes from listing on mls. Anything else we haven’t considered? (I always try to see how an idea can go horribly wrong, so I just want to see what some other aspects of the contrary position could be.)
I agree with Barry a 100%. There is place for both an Exclusive or an MLS listing. At the end of the day it should be the Seller that decides what works best for them.
Great response, as always Barry!! In my view, the cause for concerns expressed over Exclusive Listings is not actually about Exclusive Listings at all, which I believe have very legitimate reasons for existing and continuing to exist. Appropriate reasons have been supported and given in previous posts.
However, I do have concerns over “Coming Soon” under an Exclusive Listing abuse with a post-dated MLS contract dated well into the future also signed. Real Estate Boards are attempting to control this by reducing the number of days allowable as “Coming Soon” to MLS or Realtor.ca.
By design and back in the day when “Coming Soon” was first allowed, it was to accommodate Sellers, giving them the opportunity to finish the minor preparation of their home for sale. The property may have needed some painting, refinishing or landscaping etc. and would be ready within a week or so for the open market. “The Coming Soon” period was used to generate interest locally and was not designed to create a “Double-End Opportunity” for Listing Agents. Rarely did a sale take place prior to hitting the open market. Potential buyers were given the opportunity to view the property with an open mind on what the property would look like after the work was completed.
We have allowed and evolved this situation into abuse and created a frenzy among potential Buyers. “If we don’t buy it now, we’ll never get it once it hits the market”. The open market on MLS will determine true market value and provide everyone the same, fair opportunity for Buyers, Sellers, Listing Brokerages and Cooperating Brokerages .
Having stated this, there still remains a true purpose for Exclusive Listings. Sellers through their Listing Brokerages should remain in control of this decision.
If anything should change, it should be the removal of “Coming Soon” advertising altogether. Either the property is for sale or it is not. Exclusive Listings have their place, have legitimate reasons and are extremely important to some Seller clients.
I agree 100%!!! On all points.
I agree with this article! Thank you, Barry, for writing it. In my humble opinion, it is very important that sellers have the ability to make choices with their REALTOR(S)® on how to market their properties. Knowing the difference between ‘an exclusive listing’ OR a ‘coming soon to MLS® ‘ listing is something that needs education for both REALTORS® and the public. I believe that may be the problem.
Perhaps CREA has not consider that LARGE brokerages may go back to selling their own exclusive listings within their own brokerages using networking without any advertising or signage. This practice had good success in the 90’s. Just a thought from an old REALTOR®.
I absolutely agree that CREA should not be dictating business models to it’s members. We are required to accept business models that many of us don’t believe are in the public interest, but the competition bureau says we need to so do. Why is this any different? The one benefit of this new policy would be to eliminate the “Coming to Market” advertising practise, which I think is mostly an attempt to double end. I believe that for the v last majority of sellers and buyers for that matter, MLS is the most beneficial way to market a home. But the seller deserves the right to make that decision, not CREA.
Has anyone thought that a developer has to gauge the market prior to investing in and finalizing plans at great expense? I think it is greedy realtors who worry about losing out on a sale , not the possibility of a lister double ending. Plus an exclusive listing is likely at a greatly reduced commission rate. I read greed from those who oppose exclusive listings.
I am completely in favour of exclusive listings and have never double ended a single transaction. You should read again
Hey, if the seller is going to run the show… let them FSBO! Anyone that refuses to make their property available for reasonable showings and promotion should by all means do it themselves… put their phone number on a sign in their front yard and go at it!
So once again CREA tries to take the easy route instead of holding the bad REALTORS accountable…..just saw the mortgage mess on I believe marketplace. Amazing how a few bad REALTORS make it so difficult for the hardworking honest ones..so is this how CREA is deciding to correct this … on the backs of sellers? Why not go after the enforcement of rules? the boards? the brokers? The offices? The unethical REALTORS?
A large percentage of agents may not have been in real estate long enough to remember when agents put listings on the MLS and restricted viewings for a week or longer and then extending the no viewing period.
The pubic views the listing on Realtor.ca and are confused as to why they have no access to view the MLS listing when informed by their agent, in some cases they would go directly to the selling agent and were able to view the property.
The board restricted this practice by implementing a by-law in the MLS rules and regulations restricting this practice, all listings placed on the MLS must be available for viewings no delays.
The old adage in Roman times was a law was created to prevent unethical behavior and just as it was created you would have to create another law because they found a way of circumventing the initial law. I find this is what is happening with coming soon signs and and exclusive listings.
Unfortunately there are legitimate circumstances for exclusive listings but because of the few these Laws are implemented.
In looking at this, I can see two reasons why our associations (NAR and CREA) would want to do this: one, they are probably trying to discourage agents attempting to circumvent the sharing of hot listings for personal gain, and two, this radical (and radically wrong) “equity” movement is taking hold of many organizations and allowing exclusive listings will, heaven forbid, allow someone somewhere something that someone else doesn’t have.
While both arguments have some validity (the second one not so much), I just can’t see any legal authority for either organization to make such a policy, either here or in the US.
Maybe I am missing something, but I can’t see these withstanding an anti-competition challenge; they seem houses built on sand.
Anyone who has thought this through knows that Barry is correct. 2 more reasons exclusives should continue to be allowed. 1 – it is the sellers property , not CREAs … for CREA to think it can dictate the Seller’s options (and require some sellers to not be able to use the services of a Realtor) is concerning. 2 – CREA and MLS are tools owned by Realtors to serve Realtors (and MLS to serve Realtors and the public) …it is a valuable tool, an important tool. And in 95%+ of the time it is a tool a seller and their agent will want to utilize.
If CREA wishes to protect MLS , it should look at finding ways to improve services. Being anti competitive and restricting options is not the answer. We all know this.
Thank you so much for your insightful commentary, Barry!
I have been a producing realtor since 1995 and have never once in my career taken an exclusive listing. My responsibility is to obtain for my client the broadest exposure to the market for their home, and as a result, the highest possible price for their home. I do not believe “exclusive“ listings do that job.
I do however recognize it should not be within or OREA or CREA’s area of responsibility to dictate whether or not consumers and realtors have the ability to list their homes “exclusively“ and not be on MLS. Can we all say, “overreach“??
Lots of comments. Very Good Barry & REM v2.0! This “Universal Ban on Exclusive Listings (UBEL) is the wrong thing applied too late to a disappeared problem – just like the 801 Form (that was imposed by volunteer committees to administratively ‘solve’ the TorStar-boosted Phantom Offer problem … 2 years after it was already mostly-resolved)
There is a time and place for Exclusive listings, as the article mentions.
So what’s next? CREA lobbying government to do away with any private sales or property transfers?
Ludicrous…
CREA has no business dictating to individual realtors and companies that ALL listings must go MLS, i don’t need to explain many others have.
The Competition Bureau should find this interesting!
This attempt at new rules presumes that the owners of residential real estate are not able to think for themselves. This truly would be offensive to many property sellers.
I will not repeat the eloquent comments already stated by others but I have been successful in real estate sales for 50 years and, although I am retiring this year, I don’t think much has changed over the years. There is no way selling real estate can be taken down to the lowest common denominator. It is and always will be a competitive field and those who have a good work ethic will always excel. We don’t need rules that defeat that initiative.
The concerning part is no one asked the paying members. This was agreed to by all the Boards in Canada at a CREA general assembly .
No leadership at my Board asked our members their opinion. Nothing in the minutes . The notion that the leadership knows best ,is just that a notion .
Not sure how they believe they can
police this . CREA can barely enforce
the code of ethics.
I think we all agree on how powerful and beneficial it is to list on the MLS, but CREA is completely out of line. There are endless number of reasons for listing exclusively, and it should be up to a client to make the decision to do so or to go on the MLS. I can see some large commercial and luxury home brokerages opting out of TRREB and therefore CREA to avoid this. Clearly CREA did not ask their membership about this.
Well said. I hope some common sense prevails.
There isn’t one reason why a property should be listed Exclusively. Photos can be controlled to one only or none for that matter. Showings can be regulated. The listing agent can also be present for all showings.
The word “exclusive” is very mis-leading. It financially disadvantages the seller while increasing the listing agents possibility of a double ender.
Why keep it a secret. Vendors are misinformed about the benefits of an exclusive listing. It sounds “up-itty” That’s all. Protects them from unsavoury buyers? Or keeps their private life private … what ever it is the listing agent can over come and buffer all those fears. Or just agree and hope to double end.
The financial advantage is far to great to defend the benefits of mls system even without pictures.
The showing systems work
The mls system works.
There is no reason keeping a listing a secret really.
That’s all it is.
Unless you just can’t trust the agents to comply within your board. Then that’s a different issue.
My 2 cents 🙂 🙂
I wonder if Crea consulted with their lawyers before announcing this. They are way over stepping there authority
Really interesting ongoing discussions. Thank you all for taking your time to respond. In the end, shouldn’t it be the seller’s choice? That is, assuming the Realtors are conscientious in their explanation to the sellers of the differences between MLS and Exclusive listings.
Terry, the way I read it consumers would still have a choice: MLS or Exclusive. The new rule limits the marketing to the masses of Exclusive listings. It supports the intention of an Exclusive listing. It doesn’t eliminate Exclusive listings, just the abuse of them. You should read about it.
I fully agree with you Barry. We are not the US. We have very strict regulations and
licensing qualifications. In some states you can get your real estate license in a couple of days. We could more than defend our practices if the Competetion Bureau wanted to investigate. Why not simply outlaw “coming soon” signs and implement paperwork that
sellers could sign stating they have been fully informed of just what Exclusives can offer and cannot offer. Let the sellers then make an informed decision. This smacks of a
MONOPOLY. Sellers deserve choice. I believe this has long term consequences for the
real estate industry that will not be in our favor, and we will certainly deserve it.
I have never been a big fan of exclusive listings – but your article makes a lot of sense; and this is supposed to be a “free country”
I emphatically agree that this is a terrible move on CREA’S part; and they should most definitely re-think it !!
Ok people… Let’s all go exclusive and see where this market and our profession ends up!
We have all done exclusive listings for one reason or another.
Some agents more than others, and not for the right reasons.
Sure! the market we just came out of, a home basically sold itself. And, we didn’t need no “Million Dollar Marketing System” to sell a home.
In a more realistic sales environment, most or almost all homes/properties that go exclusive end up on MLS.
A serious seller will want to expose it to the greater volume of possible purchasers and attempt to get the best possible offer.
Remember a market where we had to work for our listings and they didn’t sell in a day?
In some areas of Europe they have a system where the listing is exclusive to the agent or the brokerage. These is no co-op and those properties stay on the market for months and don’t sell.
Let’s not be so blinded to think that this is such a bad thing.
May be great for large brokerages or large teams. But think about it – the quicker it sells because you marketed to the mass, the better for your client and for you.
You look good because you did efficiently what your client hired you to do.
As for the e-mails Barry received, most make no valid points.
1) You do not have to place picture on an MLS Listing if your client does not want them.
2) If your client is an Senior, Chronically ill seller. Will the fact the sale will be prolonged by of little or no showings inconvenience and worry the client for a longer period, and likely end up MLS anyway?
3) Wealthy or persons with valuable collections.
How do most do it now? Won’t they have to move these items at some point?
Do they not want sell their home?
Have these agents heard of guiding their clients to lessen the concern? or maybe some form of staging!
4) “Hoarders who were ashamed about how they lived and refused to be on MLS.”
Do they want to sell? Again…. pictures don’t have to go on MLS!
If you are a listing agent, do you not have to screen any possible buyer before showing them the property?
How about doing the same with other agents before they show! Simply have all appointments go through you! WOW!
5) “Farmers, Divorce and legal actions where they want no pictures and very secretive exposure.”
What do we do with pictures now?
Secretive? In majority of cases it’s rarely ever a secret, but will it be a secret forever?
Will neighbours not see the property being shown?
In all cases, these reasons are simply foolish and have no logic.
Agents that are so upset about this, are all your listings or that many of your listings that secretive that you are so worried about not being able to do business?
What if you couldn’t sell my listing to your client because it’s EXCLUSIVE.
What if your client then came to me to purchase it?
I am not suggesting that CREA, OREA, TREB or any other entity that survives due to the fees we pay, ones we support and wouldn’t exist otherwise have the right to do as they wish without maybe first getting our take or possibly some membership vote, is right.
But maybe they see a problem that we are not fully aware of. Possibly one of many our industry is faced with due to the lack of professional coming into the industry.
So, should be be so selective as to be ok with the changes we like and not ok with the ones we like?
Since we will never be united enough to agree on any change, I guess no changes should ever be made!
We will never be happy unless the change is what we individually feel is what it should be and our reasons and selfish interests are fulfilled every time!
FS, thank you for understanding how to trade in real estate. It would help if people actually read the materials they’re commenting on before commenting. This rule is simply to enforce the intention of an Exclusive listing and what always should have been in the first place. Thank you again.
Sounds like a bunch of dinosaurs. Exclusive listings are an archaic agreement from a time long gone. Time to get with the program. I heard all this nonsense about lockboxes, using Docusign, sale prices being online etc.
I’ve also lived through too many abuses of exclusive listings to be impartial on this matter.
Mike, thank you for making sense!!! Totally agree. There could be a use for exclusive listings in very, very few cases. Like twice in my 16+ year career. But certainly, the abuse is real.
I think all of this should be sent to CREA. This is the largest response I have seen in decades about a move by CREA. I don’t think this is in the best interest of the public.
Earlier this year I Had clients fret and stress about going on mls. 35+ years of memories etc. They felt so overwhelmed at the thought of “the world” marching through their home. So, I suggested exclusive, (with the option to work with a co-op brokerage) explained the pros and cons and they were thrilled to have the option to go exclusive even knowing that they likely could have and would of gotten multiples when they were ready to sell it on mls. End result, they sold firm in 2 weeks and were extremely happy with the process and end result.
Some people just don’t want to have the general public in their house. The casual low key process worked perfectly for them. I prefer to work as per my clients needs and requests in order to make them feel comfortable about the process.
To clarify, you’re saying they didn’t sell the house to a member of the general public?
Am I missing something? The new rule would not eliminate Exclusive listings but limit the marketing of them to the masses, which is what the MLS choice is for. My understanding is consumers would still have the choice: MLS or Exclusive. The difference is only in how the listings are marketed. What I read says you could still have Exclusive listings and could share this information with your colleagues in your brokerage. I believe the intention is to eliminate the mass marketing of specific listings and hoarding of so-called Exclusive listings by a team or brokerage, who often force buyers to deal directly with them to have access to their ‘secret’ listings ‘not found anywhere else’. This is unfair to consumers as it creates an unfair advantage to some buyers over others. It is also unfair to buyers who prefer to choose their own real estate professional and still have access to the listings that are being marketed to them. Sellers would still have the same choice as they do now: MLS or Exclusive. Correct me if I’m wrong. I am all for the new rule 🙂
I hope that influential people at CREA are reading this and respond to concerns. I agree that consumers should be given the freedom to decide for themselves,
Most of the issues raised in this article are sensationalized. Just because a property is now required to be listed on the MLS doesn’t mean you still can’t have discretion.
Celebrities hoarders etc… Don’t post a million pics and don’t book any open houses. Simple. Don’t post any pics. Be creative and use your words..
Most of the ‘reasons’ brought up can easily be overcome with discretion and creativity.
I’m not sure if anyone else is experiencing this in their cities, but this new rule will help with unscrupulous agents who display 4×8 “for sale” signs on their OWN property (and their family member properties) for the sole sake of advertising.
Even though agents are prohibited from advertising their businesses on their own property, these agents are getting around that rule by creating an ‘exclusive listing’ that’s deliberately not on the MLS so they can ‘say it’s for sale’ so the signage is ‘technically’ allowed.
Let’s keep focused on the Consumer’s right to choose. How can any body (eg. CREA) unilaterally remove the consumer’s ( eg. Seller’s ) right to choose between Exclusive, MLS or a hybrid?
Can not believe the number of uninformed members who post their opposition to this with out understanding or quite clearly in most cases, even reading the information. Is there a need for exclusive listings – perhaps in specific cases… but follow the rules. If you are a member and/or if your listing is going on MLS – follow the rules – or don’t use it, perhaps cancel your membership, seems simple to me. Speaks to the challenges we have with members truly understanding what their obligations are to the profession as well as the public. As far as extended coming soon marketing, it is a rouge for agents and brokerages who are the only benefactors… and by the way, this is one of those tactics which continues to provide agents with the “greasy” label while brands, brokerages and brokers profit from double ends.