"NOWADAYS PEOPLE KNOW THE PRICE OF EVERTYHING AND THE VALUE OF NOTHING"- Quoted by Oscar WildePosted by agentanita on February 14, 2011 · Leave a Comment (Edit)

Recently I read an article in Toronto Life magazine about the trading in real estate. I have decided to post my letter to the editor as my blog posting. For those of you who do not read Toronto Life magazine, the gist of the article was about selling private vs. selling through a traditional brokerage. And, having access to the traditional brokerage site/data as a private seller/user. This articles was like many I have read all having a common theme. There is a lack of knowledge from the journalistic public about the role of real estate agents.

I am little disappointed and at a loss after reading Ms. Wong's article and its one-sided slag of Realtors. The MLS system was built by Realtors, paid for by Realtors, for Realtors exclusive use. Realtors are members of local, provincial and national boards.

There are a number the issue is I have with the article, but I will try to focus on the issues that the media does not know or chooses not to report.

First and for most the issue is not about commissions. Realtors are bound by a code of Ethics from our governing body- The Real Estate Council of Ontario ( RECO). They have the power to revoke our registration. RECO is a consumer protection agency. The number one rule as a Realtor is to offer our primary duty of care to our clients, with that said, we are solely responsible for the accuracy of the information offered on our member only service site. We are responsible for the accuracy of the information obtained in a listing and for offering it on the open market for tender. Allowing just any posting will dilute a system that for years has offered the consumer a reliable avenue for determining value. Banks and CMHC ( Canadian Mortgage and Housing Corp.) rely on sold MLS listings to ensure the buyers financing are secure, and ultimately the sales will close. In my 25 years experience, I have assisted 2 past clients in the purchase of a non-mls listed home and both times had to supply data and prove that the property in question was offered at market value.

Allowing any posting from anybody, does not protect the consumer from dealing with fraudulent sellers or shoddy transactions. As a Realtor, when I show a property listed by another broker member it is understood that the accuracy of that listing is deemed to be correct, as that broker is bound by the code of ethics and standard of business practice. More over , when I show a home that knowledge provides safety for me and my clients. We are also bound by the Bill-C-25- Fintrac, which is the anti-terrorism and money laundering legislation. We have to identify all participants in the transaction and report any unusual activity or face fines up to $50,000.

Ms. Wong made reference to another brokerage that is now defunct- that brokerage likes to blame the MLS for its failings. When the market peaked the first time in 2007 that brokerage had an average list to sale ratio of 94% where "full" service brokerages had a list to sale ratio of 108%. I cannot help but say "do the math". I also ask myself why did that brokerage fail the first time in a great market! Maybe the business model was faulty?

In my years as a full service agent, I have never experienced anything but appreciation and praise for the dedication I have to my practice. I am no different from many of my colleagues.

It is disappointing to read once again about commissions when it comes to the Competition Bureau. There is a lot more to being a real estate agent today than what commission is charged. 

On Thursday, I donated my entire day from work and my social life to assist in a kitchen and cook wonderful food.  I paid to help create a five course tasting menu pared with wine.  The guests purchased tickets for this feast and all monies raised goes directly to charity. An organization that feeds the hungry and thrives on donations, the generosity of time and money from local residents as well as not for profit government funding.  

I offer my time and resources continuously throughout the year.   I believe that it is important to give back. I honour the ability I have to make a difference in some one's life through small acts of time and care.   Many of the volunteers last evening certainly do the same thing. However, I was struck with the notion that  during the holiday season an awareness  of those in need seems to become amplified.  Why do we not give all year-long?  The needy are still needy in July.  

Whether it is time, money or small acts of kindness, a little goes a long way. What if every person in a city or even one's department  at work  stopped and thought about what it is they could do on a monthly, weekly or daily basis for someone else? Can the masses help those in need ? I believe that  the world could be calmer and at peace with one gentle  act at a time.

The high intensity I experienced last night working with a top chef in the city of Toronto put smiles in my heart.  Every person was happy.  The time crunched chef, who not only had to execute a perfect meal  guided us all along the way. What a wonderful balance of doing what you love and loving what you do.  I realized that home goes further than your front door.   Home can be a soup kitchen, a community centre , a small cafe just down the road, across the street or right next door.

I have been a Realtor in the great city of Toronto for almost 25 years.   I am grateful for my successes and for the hardships endured to be where I am today.   I wish and truly wish for a happier world not just during the holiday season but always.  May  times always  be festive.  We should celebrate what is good and what is not good.  Knowing the difference makes all the difference.There is so much we can learn from one another.  No matter who we are and where we are from. Bring in the New Year with a new perspective. 

 On Thanksgiving weekend I showed a property that was listed for sale.  It was posted on MLS for about 72 hours and an offer came in on the property and it sold.  The property sold in just 4 days after being on a private for sale site for more than 7 weeks. One would suspect a happy Seller.However,the Seller was not happy about finally selling. The Seller looked at it as agents making a commission in just a few short days. Failing to see the power of the MLS sysytem by which sales people use to seek out homes for their buyers and where buyers rely on their agents to find homes and eventually procure a successful sale. Although it took four days to sell, that buyer could have been schleping around for months with their sales person. The agent hired to list the property has been in business for over 20 years. That agent comes with experience.  Any consumer requiring the services of a professional pays for  experience. Whether the property took 4 days or 40 days to sell, the agent will work until the job is done. It is too bad that the Seller has no appreciation of the services of the propfessionals that came together to complete that sale. People who sell homes are in business.  It took the pro's in that business to get the job done. Hiring a professional Realtor is just as important having a lawyer,dentist or tax planner. Trading in Real Estate is not always a 4 day process. It takes years to build knowledge and experience.  The sale is not over after the paper work is signed.  It continues on even after a closing.  Consumers who have had good service and experience know this.  And, I am happy knowing this too!