There is another major change coming in the Canadian real estate industry. If you've been following the story these past three years, you know the Competition Bureau has been demanding that information in our cherished Multiple Listing Systems be more available to the public. Real estate boards have complied, reluctantly. The first major change allowed owners to list their houses on our system without licensed representation. The next change is also big. Expect an announcement that current sales information soon will be available to the general public, probably at the click of a mouse.
There are many in our industry who fear that the value proposition of Realtors will be diminished significantly when this happens. We think this notion is silly. Sale prices are readily available now. People curious about a sale down the street simply have to ask a Realtor they know, a neighbour, or go online. It's pretty much general knowledge hours after the sale. The interpretation of that information is another matter entirely.
There are independent businesses who will see the release of this information as an opportunity. Many of you have been receiving our monthly Essential App Report. From what you tell us, you like it. It is produced by Top-Tier Realty, a digital marketing company. We like and support this approach to marketing because it eliminates wasted paper ('Just Listed/Sold' cards) being dropped at your door. A second exciting product is now available - The Home Value Report. With access to current sales information, you will be able to log on to learn the value of your home with the click of a mouse. From the feedback we get, there's been a demand for this for a long time. If you're not receiving these reports and would like to, please let us know.