Via: Michael Polzler September 28th, 2011 Recent developments in the real estate industry have raised some concerns.
Most pertain to the new grey areas of the business that have emerged with the industry's newest business model -- the combination of For Sale By Owner (FSBO) and discount broker. Now let me be clear before I move forward. I am totally fine with the introduction of a multi-tiered system where consumers can choose from a variety of options when putting their properties up for sale. In fact, I think the concept also represents an opportunity for our agents to pinpoint where motivated sellers live.
But, these recent encounters are unchartered waters for realtors, many of whom have built solid reputations on service excellence and are absolutely stunned by the actions of this new hybrid. And with a growing list of complaints, including skyrocketing incidents of misrepresented properties, I find myself asking just who is monitoring our industry to ensure that rules and regulations are upheld?
And who is looking out for the consumer?
We know the Real Estate's governing bodies were originally established by the real estate industry and government to enhance professionalism, increase consumer protection, and to provide an effective, efficient and responsible regulatory framework.
So as the gatekeepers, they should be actively protecting the public interest through a fair, safe, and informed marketplace.
Or should they?
Maybe it's the government body – the Ministry of Consumer Services -- who is responsible for the Real Estate and Business Brokers Act 2002, and associated regulations - to uphold matters pertaining to public interest? Either way, will someone please step up to the plate?
It's time to determine whose responsibility it is to vet listings to ensure their legitimacy - as well as the accuracy of information. There should be clear guidelines and accountability for all who post their homes on MLS. I believe there should be one governing body that enforces the rules and guidelines. In fact, I believe this should have been done long before mere postings were permitted.
I've never been one to back down from issues that impact all of us in the real estate industry, whether its challenging part-time realtors or demanding changes to realtor.ca, and I'm not about to back down now. I demand to know why FSBO companies are not licensed. If they are placing their listings on MLS, they should be held to the same standards set for the rest of the industry. The way I see it, they can't hide behind the façade "for sale by owner" because that is simply not the case. It's just big business.
Some of you may be tempted to say you really do get what you pay for... but that's not the answer we're looking for. We need a resolution - one that is clear and concise - and applicable to all.
Because lousy service hurts every single one of us.
We put the consumer-our client-first, each and every time. The support for both client and realtor is there well after the ink on the contract is dry.
We are in the business of providing value and knowledge. It's what we, as professional realtors, bring to the table that sells our services time and time again. The results we generate are unparalleled. It's not by luck or by chance that the 90 per cent of homes sold on MLS are moved by realtors.
But it's time we level the playing field so that all players know the rules... that is the only way to ensure consumers are protected. That means licensed. That means insured. That means accountable. I urge you to share your thoughts at
mpolzler@remax-oa.com. I'm prepared to push for change. Are you?
Yours truly, Michael Polzler
Executive Vice President, Regional Director
RE/MAX Ontario-Atlantic Canada Inc.
Asif Khan, ABR
Member of Re/Max Hall of Fame
Re/Max All-Stars Realty Inc., Brokerage
905-888-6222
Most pertain to the new grey areas of the business that have emerged with the industry's newest business model -- the combination of For Sale By Owner (FSBO) and discount broker. Now let me be clear before I move forward. I am totally fine with the introduction of a multi-tiered system where consumers can choose from a variety of options when putting their properties up for sale. In fact, I think the concept also represents an opportunity for our agents to pinpoint where motivated sellers live.
But, these recent encounters are unchartered waters for realtors, many of whom have built solid reputations on service excellence and are absolutely stunned by the actions of this new hybrid. And with a growing list of complaints, including skyrocketing incidents of misrepresented properties, I find myself asking just who is monitoring our industry to ensure that rules and regulations are upheld?
And who is looking out for the consumer?
We know the Real Estate's governing bodies were originally established by the real estate industry and government to enhance professionalism, increase consumer protection, and to provide an effective, efficient and responsible regulatory framework.
So as the gatekeepers, they should be actively protecting the public interest through a fair, safe, and informed marketplace.
Or should they?
Maybe it's the government body – the Ministry of Consumer Services -- who is responsible for the Real Estate and Business Brokers Act 2002, and associated regulations - to uphold matters pertaining to public interest? Either way, will someone please step up to the plate?
It's time to determine whose responsibility it is to vet listings to ensure their legitimacy - as well as the accuracy of information. There should be clear guidelines and accountability for all who post their homes on MLS. I believe there should be one governing body that enforces the rules and guidelines. In fact, I believe this should have been done long before mere postings were permitted.
I've never been one to back down from issues that impact all of us in the real estate industry, whether its challenging part-time realtors or demanding changes to realtor.ca, and I'm not about to back down now. I demand to know why FSBO companies are not licensed. If they are placing their listings on MLS, they should be held to the same standards set for the rest of the industry. The way I see it, they can't hide behind the façade "for sale by owner" because that is simply not the case. It's just big business.
Some of you may be tempted to say you really do get what you pay for... but that's not the answer we're looking for. We need a resolution - one that is clear and concise - and applicable to all.
Because lousy service hurts every single one of us.
We put the consumer-our client-first, each and every time. The support for both client and realtor is there well after the ink on the contract is dry.
We are in the business of providing value and knowledge. It's what we, as professional realtors, bring to the table that sells our services time and time again. The results we generate are unparalleled. It's not by luck or by chance that the 90 per cent of homes sold on MLS are moved by realtors.
But it's time we level the playing field so that all players know the rules... that is the only way to ensure consumers are protected. That means licensed. That means insured. That means accountable. I urge you to share your thoughts at
mpolzler@remax-oa.com. I'm prepared to push for change. Are you?
Yours truly, Michael Polzler
Executive Vice President, Regional Director
RE/MAX Ontario-Atlantic Canada Inc.
Asif Khan, ABR
Member of Re/Max Hall of Fame
Re/Max All-Stars Realty Inc., Brokerage
905-888-6222
Posted via email from Markham Real Estate Today with Asif Khan
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