21 October 2011 ~ 0 Comments

Reality Check On Global TV’s “16X9”

Reprinted in its entirety from the Toronto Real Estate Board

On Saturday, October 15, 2011 the Global TV program “16×9” aired a segment regarding the real estate industry.

Contrary to comments and inferences made on the “16×9” segment, we believe that REALTORS® provide high-quality assistance to clients during what can be a difficult and complex property purchase and sale.

Because a number of allegations made in the “16×9” segment were inaccurate or misleading, we have identified some of those allegations and provided the “real story”.

The “16×9” segment implied that agents won’t show their homes to their clients. In fact, TREB REALTOR® Members help their clients purchase homes from private sellers every day.
The “16×9” segment stated that real estate agents are scaring private sellers and using scare tactics In fact, TREB and its Members are required to adhere to the CREA Code of Conduct which states that REALTORS® have a “responsibility of dealing fairly with all parties to the transaction.”TREB REALTOR® Members are subject to a high ethical standard, and follow a strict “Code of Conduct”.We do believe, however, that the purchase and sale of a home can sometimes be a difficult task and that a qualified REALTOR® is able to help buyers and sellers avoid problems that can arise in real estate transactions, including challenges related to determining an accurate listing price, obtaining property inspections, and assisting in the financial and legal aspect of the transaction.
The “16×9” segment stated that the Canadian government is taking legal action against TREB. The Competition Commissioner has commenced proceedings against TREB before the Competition Tribunal.The Commissioner’s demands would require TREB to make private client and consumer information provided to REALTOR® Members openly available on the internet.TREB is opposing the Commissioner`s application because TREB believes that changes the Commissioner is demanding would jeopardize privacy rights of REALTOR® Members and their clients and would violate Canadian privacy laws and provincial legislation.

TREB will continue to fight for the privacy rights of its REALTOR® Members and their clients.

The “16×9” segment stated that real estate agents try to sabotage private sales. There is no evidence for the “16×9” allegation. TREB and its REALTOR® Members are required to adhere to a strict Code of Conduct.As noted, TREB REALTOR® Members help their clients purchase homes from private sellers every day.
The “16×9” segment stated that private sale directional signs were mysteriously disappearing implying real estate agents were involved. There is no evidence for the “16×9” implication. Furthermore, municipalities regulate and enforce signs and routinely remove signs that violate local bylaws regarding location and size.
The “16×9” segment referred to Realtor.ca as MLS® and went on to refer to information on a hidden area of MLS® that does not exist. The Show displayed a screen shot of Realtor.ca and referred to it as the MLS® and went on to state “…but MLS® has a hidden area reserved exclusively for agents. This agents only area has access to previous offers made on a property, information about a neighbourhood like crime rates, grow-ups, termites, things like that…” Such a web site does not and never has existed.

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