In: Real Estate News25 Oct 2010
The competition tribunal’s website now shows the details of the agreement between CREA and The Competition Bureau. Here are the details.
Agents are now allowed to do a “Mere Posting”. According to the document here is the definition of a “Mere Posting”:
“Mere Posting” means a listing on a Member Board’s MLS® System in respect
of which the Member has chosen or agreed not to provide services to the Seller
other than sUbmitting the listing for posting on a Member Board’s MLS® System;
It appears as though, an agent can just simply post a listing on MLS® and (if the seller agrees), then the agent does not have to provide any more services to the seller. Here are the details of the agreement:
CREA shall not adopt, maintain, or enforce any Rules that deny the ability of Members to
provide Mere Postings for Sellers, or that discriminate against Members because they
offer, or wish to offer, to provide Mere Postings for Sellers, including, but not limited to,
any Rule that:
(a) prevents Members from offering a Mere Posting;
(b) prevents Mere Postings from being listed in a Member Board’s MLS® System;
(c) discriminates against Mere Po stings, provided that the bare identification of a
Mere Posting in a Member Board’s MLS® System is not discriminatory;
(d) prevents Members from cooperating with Members that offer Mere Postings;
( e) prevents Members from:
(i) listing a Seller’s contact information in the REALTOR®-only remarks
section of the MLS® System, with instructions directing interested
Members to contact the Seller directly,
(ii) including, in the General Description section on an Approved Website, a
direction to visit either the REALTOR®’s or his or her brokerage’s
website (whichever site is included as the contact link in the
REALTOR®’s contact information on the Approved Website) for
additional information about the listing (without specifying the nature of
such additional information), or
(iii) displaying the Seller’s contact information on a website other than an
(f) prevents Members from negotiating and contracting, with a Seller, in respect of
the terms of payment for compensation to the co-operating Members for the cooperative
selling of the property, as long as the offered compensation is not zero;
(g) conditions use of, or access to, the MLS® Marks or a Member Board’s MLS®
System on a Member, or a prospective Member, not offering Mere Postings.
So what does this mean?
Can a FSBO company post homes on mls?
No. Only a real estate brokerage can post homes on mls.
Can an FSBO company sell an MLS listing?
No. If they did this, they would be trading in real estate, and that could be considered illegal according to the Real Estate Business and Brokers Act.
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