MLS Listings

The MLS® home listing system is owned and managed by the CREA. It's membership of real estate agents or Brokers pays for the service. Access to the MLS listing service is just one specific service provided by your broker. A for sale by owner sales effort unfortunately does not enjoy MLS listing access among other critical services involved in the home selling process.

Establishing the best listing price and then finding a sufficient number of potential buyers is a key part of the sales effort. Call Damir for a free market evaluation and discuss how he can help you get the best price for your home.

CREA MLS Rules

CREA has notified of changes to the MLS rules in response to competition bureau concerns. CREA has changed its MLS rules to clarify that the nature of services to be provided to the seller or buyer is a matter of agreement between the REALTOR and his or her client or customer.

CREA adjusted their membership rules response to allegations from the Competition Bureau that the MLS® system restricts consumer choice and prevents innovative business models.

CREA responde by saying the allegations were false.

At the annual CREA annual general meeting, association membership approved clarification of the rules relating to real estate Boards MLS Systems. CREA said that its recent changes will adddress the concerns of the Competition Bureau. CREA states that the rule changes will notcompromise the integrity of the MLS® Systems and the accuracy and the quality of information available via the Board MLS systems.

CREA President Georges Pahud responded in a letter saying “that by approving the amendments, CREA and its member Boards not only clarified how CREA’s Rules actually operate, they have taken a very strong pro-competitive stance. The amendments passed with an overwhelming 87% majority.”

The Federal Government Competition Bureau compalined about the Agency aspect of CREA rules, that “a listing REALTOR® must act as agent for the seller to sell the property and to assist the seller throughout the entire time of the listing contract.”

CREA changed that to clarify the level of service provided by a listing REALTOR® is a matter of contract between the REALTOR® and the seller. The change also explicitly states that the listing REALTOR® must comply with regulatory requirements, CREA Rules and Real Estate Board rules.

The amended paragraph now reads: “A listing REALTOR® must act as agent for the seller in order to post, amend or remove a property listing in a Board’s MLS® System. The nature of additional services to be provided by the listing REALTOR® is determined by agreement between the listing REALTOR® and the seller, subject to the applicable regulatory requirements and the Rules of CREA and Boards/Association.”

For Ontario REALTORS®, the “applicable regulatory requirements” would include laws such as REBBA and its regulations, including the REBBA Code of Ethics, FINTRAC compliance, competition law, privacy compliance and Do Not Call.

Read more on what's happening in the Mississauga real estate market on our blog.

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Real Estate Listings Mississauga

The problem with MLS real estate listings is that homes that are still available are the ones everyone is passing on. If a home has been on the market for a long time and is just not selling, there must be a reason. So just having your home appear on the multiple listing service may diminish its appeal for many discriminating buyers. Smart home buyers get in on great new homes for sale right away. Some are bought up before the advertised listing is seen by buyers. A good Mississauga real estate agent can help you learn of newly available properties and of properties that may be becoming available.

Homes often come up for sale for a number of reasons including financial problems. Some homeowners will try to rent out their basement or take on borders to make up the shortfall in funds for their mortgages. Power of sale opportunities are often hard to discover too. After months of being in the real estate listings, a homeowner may get discouraged and begin to lower their asking price severely. If you're thinking the Mississauga real estate listings are the best way to market a home, please give us a call so we can show you how a professional marketing approach is better. Often, it's not how many people see your home, but who sees it. Try a better approach to selling Mississauga real estate.