What is a Local Real Estate Board?
Our premium selling system includes local board MLS® System listings on all 11 real estate boards in BC!
This means that your MLS® System listing will be fully visible to the local real estate agents in your area, and to the general public on the REALTOR.ca website which is available to buyers world wide.
Our innovative brokerage dramatically improves your ability to sell your own property, allowing you to save thousands in the process.
When we say "local real estate board", we don't mean that our service is somehow limited to a local audience, we mean that our service can also include maximum exposure to your local audience, which is something that many of our competitors don't, won't, or can't offer.
The truth is - in MOST larger Canadian cities, in order to reach the maximum buying audience, you should be posted on your local real estate board, and on the REALTOR.ca website, which is exactly what we offer in most major real estate markets throughout Canada!
The only time you wouldn't want to ALSO be visible on your local real estate board, is if you are in a smaller market like you would find in many Eastern Canada cities like Halifax, Fredericton, Charlottetown, or Cornerbrook, for example. In these smaller markets, the vast majority of buyers just want to use REALTOR.ca, mainly because of all of the marketing the real estate associations do across Canada in promoting the REALTOR.ca website. They know that the buyers go to REALTOR.ca to look for properties, and they know that their listing will be there as well.
With this enhanced service, you get maximum exposure with the buying public on Canada's largest real estate network via the REALTOR.ca website nationally, and with the real estate agents and the buyers who are working with them to locate a property right in your direct area as well.
So what is a Local Real Estate Board anyway?
We have put together this additional information to help sellers better understand what a real estate board is, and more specifically, what it means to them while selling a property privately on the MLS® (Multiple Listing Service) System in Canada.
Each province is divided into multiple real estate boards. The various boards represent the local real estate agents who practice real estate throughout the province. These boards collect dues from the agents who belong to them, making them quite territorial because there is a lot of money at stake here.
Wikipedia describes the various types of Real Estate Boards throughout Canada as:
"CREA's members are known as 'REALTORS', which means they are members of their provincial real estate association or members of both their local real estate board and CREA, depending on the province.
"A real estate agent may become a member of a local board within the CREA, which confers the agent with membership in the CREA. Local boards are represented by a provincial association within the CREA. The local boards operate the multiple listing service for their market. There are 101 real estate boards in Canada.click to expand
"Both the Multiple Listing Service or MLS trademark and the REALTOR trademark are owned by REALTOR Canada Inc, a subsidiary of CREA. Local real estate Boards or Associations operate a local database under a licensing agreement with the national association. CREA also operates the REALTOR.ca (previously MLS.ca and ICX.ca) web site.
"Property owners who do not want to fully engage the services of a REALTOR, can hire one to only list their property on the MLS system.
"In these instances, the property owner is responsible for ensuring the listing information is accurate and agrees to handle all other details of the transaction directly. The seller may have to pay a commission to the buyer's real estate agent, if the buyer uses one. Approximately 90% of real estate transactions in Canada in 2009 were conducted via the MLS."
The act of listing a property privately on the MLS® System is often referred to as a "Mere Posting Service", which is the service For Sale By Owner Inc. provides to hundreds of sellers throughout Canada each month.
We hope that the above explanation helps you to better understand what a real estate board is, and how it pertains to the act of selling a home privately on the MLS® System.
Please Note: If you are comparing our service to those of many of our competitors, make sure that they are also loading your listing to the actual local real estate board in your area - so you are comparing apples to apples. :)
And don't forget - If your listing is NOT loaded to the MLS® System via your local real estate board, you are missing out on getting in front of your local audience, which is all of the local real estate agents in your area, and the buyers who are working with them to locate a property.
Please contact us if you have any questions about our selling system.
With FSBO, you ALWAYS SAVE approximately HALF of the commission you would normally pay a full service agent.
See what you can save when you sell through us.
See what you can save when you sell through us.
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(Calculations are based on 6% on the first $100,000 and 3% on the balance)