List low – and hold offers works for some and doesn’t for others. As an agent my job is to present all offers when received and allow my client to make a response. I have practiced a first come first served attitude for 35 years and continue to do so. I await the first demand for commission from a selling broker served on a listing broker and his client for failure to accept a firm, full priced offer with deposit and closing date matching that requested ( in the mls posted listing )

The system says we get paid for bringing about a contract that matches those requirements – when the agent holds back or the client plays games we will find the contract doesn’t say oh the commission is only payable if I decide to sell my property no matter what the offers are –

Good solution

There are Two Types of Listing a) OPEN (not signed by Seller) and b) EXCLUSIVE (commission/agency contract signed by seller).

Further, within Exclusives there are also two categories :c) Not-MLS and d) MLS.

Cooperation sort-of, might-be, thought-to mean “allowing showings through an outside Brokerage”, but it actually means “sharing the commission” and on MLS listings “co-operation” is automatic.

On MLS a co-op fee is offered in writing on the MLS Contract and on the info sheet.

On Not-MLS signed Listings (ie Exclusives) a showing by an outside brokerage commission to an outside brokerage is NOT automatic – it must be requested by the outside brokerage and may or may not be granted by the LBO.

On MLS listings the Total commission is confidential between the Seller & the LBO.

Similarly, on Not-MLS listings the Total commission is confidential between the Seller & the LBO PLUS the amount of any potential co-op fee is unknown and unknowable by an outside Brokerage.

BUT (at least in Ontario) registrauhnts are bound to show any and all listings without a thought or concern about getting paid.

So if a Client/Customer/Looker/Buyer (CCLB) of a registrauht sees a “Coming Soon” sign and wants to see the property … if dredges up all these unconnected components — without a Standard Operating Procedure (SOP) on how-to handle the situation. The SOP is not-available for either LBOs or outside Brokerages.

And in several recent hot market (shortage of supply relative to demand) the “Coming Soon” listing strategy became contentious.

Similarly the “List-Low & Hold Offers until a Future Bidding Date has no Standard Operating Procedure (SOP) for neither LBOs or for outside Brokerages.

Hence the trouble that resulted in the CREA policy under discussion.

Too bad they couldn’t have built a Standard Operating Policy (SOP) for both “Coming Soon” as well as for “List-Low & Hold Offers until a Future Bidding Date”

I agree this being pushed through quickly. With listing volume down there is a need to ensure co-operation to try and make sure there are 2 Realtors involved in every deal. As with everything else Realtors will now waste their valuable time trying to figure out another strategy to deal with this. If directed by a Seller are we now to say no to their lawful request. I think not.

Great piece, David. There are several issues with this policy, which (if enacted) will leave some sellers very frustrated. Your idea of just another category in our mls system, one for listings that are not public but only accessible by registrants, is one that I think should be pursued further. Yes, 99% of sellers would do much better on the open mls system (something I don’t think any realtor would disagree with,) but we need to have a better option for the small number of very specific scenarios for which that just won’t work. I don’t know about you, but to me this policy seems kind of rushed and very …forced. …it doesn’t smell very “free market” to me.

It seems though our elect craft strategic plans that propose to do one thing, while they take the rest of us along for a merry ride as they do another.

This from TRREB’s just released 3 year strategic plan – the very first statements made as to those plans.

Apparently the delegation that will be casting their vote today for the exact opposite of this has been so instructed by leaders who haven’t even read what they wrote.

Pledge of Competition:

“A brokerage may offer any variety of services, e.g, exclusive…”

Advertising by members and non-members is subject to the discretion of the individual, as long as it is honest and lawful. We encourage creative, competitive choice in the services advertised to the public.

The business relationships between broker members, their salespersons and non-members is theirs to determine.”