Realtor.ca does not sell properties – realtors do
There are about 32,000 realtors who are registered with the Toronto Real Estate Board. That’s a lot of realtors out there trying to define themselves in their trade. Lots of competition. There are many different brokerage models all trying to find their uniqueness to attract these many realtors. Some brokerages offer a model which serve clients by offering Limited Service to the public. Usually Limited Skilled realtors are attracted to this model. There have always been a segment of the public who will be drawn to limited service brokerages. The public has a wide and big appetite.
Recently CREA and the Competition Tribunal entered into an agreement to alter the scope of our industry nationwide. Moving forward, brokerage models will be able to allow realtors to attract sellers by not providing what I call full agency. Sellers can choose to make their own appointments and negotiate their own deals directly with co-op brokers and without representation. And that might be a good thing if you are a seller who doesn’t want to pay for a full service broker and who thinks they can handle the entire process and still get good value for their property. There are some car garages around which allow car owners to fix their own cars aren’t there? Having the right tools to do so is a drag though.
What does the change mean for full service brokerage realtors?
Opportunity to my way of thinking.
I don’t think the public really gunderstands what we do as full service realtors. We haven’t done a good job of defining it.
What we do as full service realtors is needed for consumers. The process is complicated, delicate and important. More than others, we have to get better at our trade in establishing value for our service. The strong market of the past many years has led many to believe what we do is centred around MLS access. Realtor.ca does not sell properties – full service realtors do. The nationwide real estate site is simply an advertising tool. The real work of selling properties begins when realtors connect with buyers and sellers. If a realtor is good at what he or she does, they are able to help many – if they aren’t good at what they do – they perhaps will by default join the ranks of the Limited Service and Limited Skilled brokerages out there. It’s all about choice isn’t it?
RE/MAX Affiliates Realty is proudly a full service brokerage!
Reprinted, with thanks, from my friend and collegue Ken McLachlan’s blog at RE/MAX Hallmark in Toronto
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