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Clarence Maquito, Real Estate Broker

Sutton Group-Admiral Realty Inc, Brokerage

Direct: 416-930-2021

Competition Bureau

May 31, 2011 - Updated: May 31, 2011

Here we go again! The never-ending scrutiny of how to diminish the extra value given by a full-service Realtor® towards his/her client is again put to the test. FSBOs have recently gotten their way by being able to list their property on the Toronto MLS for as low as $1 (yes, that's correct, a Loonie) eliminating the costly fee of a listing agent. Yet, it seems the majority of buyers who come with a valid and acceptable offer are usually brought in by a registered and professional buyer agent. Proof that there will always (if not often) be an added value by a Realtor® in any home-buying/selling transaction. Let's look at the other side of the Loonie: the buyer's side. For it to be a fair-playing field, are we now going to charge buyers a $1-fee before driving them around and across the city to find them their dream home? And then, as soon as an offer is accepted by the seller, require the buyer to cover our current usual normal fee of 2.5%? It would only be fair to do such, and not let the seller carry all the weight of the selling cost, is it not? After all, this is what they presently do in modern Europe. Hopefully, this thought won't be categorized by our Watchdog as anti-competitive.

Tagged with: vows watchdog competition bureau latest treb news regarding buying a home fsbos
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Comments (2)

Posted by: Clarence Maquito,
June 6, 2011 @ 11:54 pm
Thanks likewise to Mark Weisleder, a well-known lawyer, author and speaker of our industry. Enjoyed reading his 6th June article about the Competition Bureau's unnecessary waste of tax-payers money. Love the "happy ending" wherein he said: Madame Commissioner, why not look more closely at the (oil) companies that appear to be fixing (gas) prices?
Posted by: Clarence Maquito,
June 3, 2011 @ 7:13 am
Just want to thank our TREB President, Bill Johnston, for his recent letter to the Competition Bureau: " Rest assured, TREB is doing the right thing and your interests as REALTORS® will be protected as TREB strives to balance privacy concerns and the rights of consumers. TREB will NOT be bullied by the Competition Bureau's choice of tactics..." We've passed six (6) exams to have a permanent license, or eight (8) exams in total to become a registered broker. And yes that's a lot! And yes, it enables us to serve our clients with utmost care and a high level of professionalism.

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