In celebration of 35 years of Real Estate Magazine, we are sharing articles from past issues. This particular article was featured in REM’s 100th Issue in October 1997 and was authored by Kathy Bevan and Susan Doran.
Back in the day, a Realtor only needed a pen, a calculator, a sturdy briefcase, a mode of transportation, and plenty of quarters for payphones. Fast forward to today, and Realtors still rely on those essential tools, but now also require modems, cell phones, fax machines, and often carry two briefcases—one for paperwork and the other for a laptop.
As Realtors have evolved, so have their expectations from organized real estate. This shift in demands has sparked a reevaluation of the industry as a whole.
A couple of years ago, CREA faced harsh criticism from various boards, prompting a reevaluation of its annual fees. However, the underlying issue extended beyond just CREA and was evident at the grassroots level of organized real estate. Boards themselves were under scrutiny from their members, with concerns about structures, fees, and services.
Real estate companies started questioning overlapping jurisdictions, redundant services, multiple board dues, and the rapid introduction of costly new technology at the board level. Members were questioning the value they were receiving for their dues.
Al Demings, executive officer at the Halifax-Dartmouth Real Estate Board, noted that this dissatisfaction was not unique to organized real estate but was occurring across various industries. Consumers were seeking better value and service, which led to a reevaluation of the services provided by organized real estate.
One of the most significant services that organized real estate provides is the MLS system. Despite its value, some Realtors may not fully appreciate it. Boards recognize the importance of the MLS system and are protective of their data, fearing a loss of control over this valuable asset.
Demings emphasized that the Halifax-Dartmouth board is more than just an MLS provider. They aim to uphold professional standards, facilitate cooperation and networking, and ensure consumers receive top-quality service.
While the Halifax-Dartmouth board has been praised for its progressive approach, it has also faced criticism for being too focused on being cutting-edge. Introducing new technologies like the Compass online system and electronic lockboxes led to challenges and frustrations for members.
Other boards, like the Toronto Real Estate Board, faced similar issues with new technology implementation. The lesson learned was that being on the cutting edge can have its drawbacks, leading some boards to opt for proven technologies instead.
Cost-cutting concerns have prompted small boards to enter data-sharing agreements with larger boards, while fears of membership decline and increased fees have influenced decision-making for others.
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