Author: Rod Thompson
Rod Thompson is a licensed Broker in the province of Alberta and the founder of SellerInvite.com(TM)
EDMONTON, Oct. 1 /CNW/ - I get a real kick out of all the fuss the media is making about the significant changes coming to the MLS System(R) and how these changes will affect the way real estate is handled in Canada. It speaks volumes about the lack of understanding about how the MLS System(R) really works and it highlights how the Competition Bureau is using this simply as a publicity stunt.
The reality is that sellers can pay a very low flat fee to access the MLS(R) web site and they can choose the level of involvement they want to have in the transaction. They have all the freedom today that the Competition Bureau is promising tomorrow.
Take SellerInvite.com(TM) as an example; we've been operating in Edmonton, AB for two years now and have been in the top 5% of all MLS(R) sales two years running. We're the first company to offer sellers the freedom and savings of selling by owner with full access to the MLS(R) web site and the support of a licensed REALTOR(R) and as of today we are selling over a home every other day.
Sellers can access the MLS(R) for as low as $799.00 and they can choose to deal with buyers and REALTORS(R) directly. A small fee is charged once the home is sold which is necessary to ensure the information and integrity of the MLS System(R) is maintained, but sellers have the opportunity to save between 50-90% off what it would cost to hire a traditional REALTOR(R).
Competition has to come from within; it cannot be imposed on those not willing to compete. Companies like SellerInvite.com(TM) are leading the way because we see an opportunity and the internet has given us a platform to compete equally with traditional real estate models. However, it has taken us time for us to develop our new model and our systems and to convince the public that we are a viable alternative to traditional real estate and the traditional REALTOR(R) and the Competition Bureau can't speed that process up.
The other thing completely missed by the Competition Bureau is that new models have to be able to make a profit and more importantly provide sellers with a service that actually works. It's not enough to just put a home on MLS(R), if that was the case then why have 2900 homes expired in Edmonton in the last three months while on MLS(R)? Also easily forgotten is that new models have to penetrate a very old and established system and as we've discovered that's not easy to do.
A lot of work and money is required to establish and support a new business model and to ensure the integrity of the MLS System(R) is maintained. So in the end, access to the MLS System(R) will only get as cheap as those natural restrictions will allow and the business of real estate will go on as normal.
Everything the Competition Bureau is claiming to have changed has already been changed. In fact, the rules have long been in place for competitive business models to exist and it blows my mind that media has never told this story. I think a bigger story is how the Competition Bureau is misleading the public and how the media has failed to properly understand the MLS System(R) and tell the real story to the public.
For further information: For further information: Rod Thompson, 780 994 9998, [email protected]
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