The truth is… I am not much good at waiting. I don’t like line ups, I despise slow internet, and any kind of little circular icons going round and round, waiting to pay for things, and traffic jams.
So when I know change is coming - I want it now… Right NOW , or at least I want to know what things will look like so I can begin to prepare for new realities.
I prefer to be a person of action… (that is why I am writing this at this moment instead of just waiting for the contract I have out for signatures to return to me)… Making things happen is important to me.
Creating the future instead of letting it just happen around me is something I am passionate about.
So.. when the Government announces changes to the way real estate services will be offered - I scour the internet, ask questions from peers and in industry groups to learn what changes are coming.
What I find disappoints me at first….
Gee, Brell - tell us how you really feel!
All REALTORS® take the same course, pass the same test and work under the same Code of Conduct, Rules and Laws.
The difference is in the AGENCY ( the degree and manner in which we apply those guidelines) to our individual clients.
Read more about that from a colleagues perspective about how agents work and what might have been changed.
Here's what we know:
- Dual Agency ( having both the seller and the buyer) as CLIENTS is out.
- Working for both the seller and the buyer is still possible
Yes, despite the outcry about the ability to choose who they work for under this new rule, REALTORS® can still bring a Seller and a Buyer together. The mandated level of service to be provided needs to be clearly defined, and disclosed to both parties, in advance of service being given. If it is not BOTH parties should be re-evaluating the relationship they are in.
If, as China Achebe says “One of the truest tests of integrity is its blunt refusal to be compromised.” is to be believed REALTORS® who were offering to represent both buyer and seller will still provide excellent levels of service to both - regardless of what the documents say.
On the other hand, those realtors who were running roughshod and willy nilly have kind of been handed a “Stay out of Jail Free” Card. It would seem that with “NO Agency aka a CUSTOMER relationship there is NO PROBLEM. Buyer and Seller BEWARE.
Personally - I had a buyers say they wanted a “no agency” relationship once… and I found out that was just something I am not wired to do… I can’t be just an order taker… I need to know that people I work with know everything they need to know before they are contractually bound.
Couldn’t we just agree that it will take more than a rule change to address the behaviour?
That perhaps, more than ever ethical REALTORS® will have a very clear system to identify the products and services they will provide and for what fee?
What can we do about all this?
I am extremely pleased that our team at Chris Holm and Associates is actively researching, discussing, and collaborating with other REALTORS® and industry leaders to brainstorm ideas about what the future COULD look like. We are taking action now not waiting to hear what the minimum requirements for our behaviour will be.
So - we’d like to hear from you - past and prospective buyers and sellers.
Tell Us What Really Matters!
If we could toss out the old - and build our business our way - compliant to the rules and regs - yet extraordinary in every way, what would YOU like us to have in the way of products and services?
- How would you assign value to these same things?
- Can you envision a co-operative MLS® where the listing contract only compensates the seller - and Buyers Agent fees are set between the buyer and their agent?
- Would there be a flat fee for production based, order taker real estate without true agency? There already is for sellers.
- Are you willing to take on the risks of learning after the fact about what you did not know you did not know about real estate transactions to save money - is that your primary goal?
- In a long term investment - do you seek to pick up pennies while stepping over dollars?
- How “in the loop” do you want to be?
- Shall we communicate with you the way you want - or are you good with getting communication however and whenever?
Think big - think challenging. We are building our business model with YOU in mind so that we can do what we love in a way that you will love it too.