Markham Real Estate Today with Asif Khan

GTA Commercial REALTORS(r) release Commercial Market Report

TORONTO, April 6, 2010 - In March, TREB Commercial Members reported 860,895
square feet of leased space, a 104 per cent increase from the 421,642 leased
square feet recorded in March 2009, Commercial Council chair Garry Lander
announced today.

In the first quarter of 2010, lease transactions for commercial space
increased 73 per cent from the first quarter of 2009. "Demand for commercial
real estate is strongly related to economic growth and job creation. As
company's order books expand, they will take on more employees and many will
ultimately require more space," Mr. Lander said. "The level of GTA
employment has been trending upward since the summer of 2009, with the
Canadian economy growing more strongly than expected. The commercial market
has benefitted."

Lease rates for industrial space dipped to $4.91 per square foot net (sfn)
from the $5.59/sfn figure recorded in March 2009. Commercial and office
lease rates rose, with the former trading for $18.59/sfn compared to
$17.44/sfn last year and the latter climbing to $12.47/sfn compared

to $9.78/sfn last year.

Asif Khan, Realtor

Re/Max All-Stars Realty Inc.

Google me: Asif Khan Re/Max

Follow me on Twitter Become a Fan on Facebook

The provincial government has announced that it intends to combine the eight
percent Provincial Sales Tax with the five percent federal Goods and
Services Tax, creating a 13 percent Harmonized Sales Tax (HST). * The HST is NOT YET IN EFFECT. The provincial government has
indicated that it intends to bring the HST into effect beginning on July 1,
2010; however, note transition rules below. * HST will not apply on the purchase price of re-sale homes. * HST would apply to services such as moving cost, legal fees, home
inspection fees, and commissions. * HST will apply to the purchase price of newly constructed homes.
However, the Province is proposing a rebate so that new homes across all
price ranges would receive a 75 per cent rebate of the provincial portion of
the single sales tax on the first $400,000. For new homes under $400,000,
this would mean, on average, no additional tax amount compared to the
current system.
Transitional Rules for New Housing * Generally, sales of new homes under written agreements of purchase
and sale entered into on or before June 18, 2009 would not be subject to the
provincial portion of the single sales tax, even if both ownership and
possession are transferred on or after July 1, 2010. * The tax would also not apply to sales of new homes under written
agreements of purchase and sale entered into after June 18, 2009 where
ownership or possession is transferred before July 1, 2010.
Additional Transitional Rules * Where services straddle the HST implementation date of July 1, 2010,
the tax charged for the service may have to be split between the pre-July
2010 and post-June 2010 periods. However, the HST will generally not apply
to a service if all or substantially all (90% or more) of the service is
performed before July 2010. * Four key timelines are important (see below). All are based on the
earlier of the time the consideration is either due (In general, an amount
is due on the date of the invoice or the day required to be paid pursuant to
a written agreement), or is paid without having become due. If consideration
is due or paid, * Before October 15, 2009, HST will generally not apply (however, see
above transition rules for new housing). * From October 15, 2009 to April 30, 2010, certain business that are
not entitled to recover all of their GST/HST paid as input tax credit may be
required to self-assess the provincial component of the HST with respect to
goods or services supplied after June 30, 2010. * From May 1, 2010 to June 30, 2010, HST will generally apply for
services supplied after June 30, 2010. * After June 30, 2010, HST will generally apply. An exception to this
rule would be where ownership of the property is transferred before July
2010 or the invoice relates to services provided before July 2010. * With regard to the lease or license of goods, including
non-residential real property, HST will generally apply to lease intervals
or payment periods on or after July 1, 2010 and the general rules noted
above will apply. However, where a lease interval begins before July 2010
and ends before July 31, 2010, it is not subject to HST. * With regard to the sale of non-residential property, HST is due
where both possession and ownership of non-residential property occurs on or
after July 1, 2010. Asif Khan, Realtor

Re/Max All-Stars Realty Inc.

Google me: Asif Khan Re/Max

Follow me on Twitter Become a Fan on Facebook

Hello Everyone:

I am often asked by clients and friends if I know of anyone wishing to
purchase items or if someone is selling furnishings or appliances? Many of
us also think of holding garage sales, however the work involved scares us
away. We hear so many horror stories from Kijijji, Craigslist, and
Newspaper Classifieds? Sometimes you just don't know what you're going to
get and where it came from. Well, here's a solution!! I'd like to introduce you to a great new tool on my website. Today marks
the launch of our Marketplace on www.AsifKhan.ca! This new area of the
website will allow you to advertise any items you have around the home that
you may want to sell or give away to a good home. If you are looking to buy
something, this is the place to go first. With all the items coming from
friends, family and clients, you're sure to get a pretty good item from a
reliable source. With Spring Cleaning season well under way, I'm sure
you'll find many items you may want to part with. Getting new appliances
and need to find a home for the "experienced" ones? Have any event tickets
that you would like to part with? Put it up here, and you'll get it sold!

Sellers: You may attach one picture of the item you are selling, along with
a brief description and price. The only condition is that all items should
be in working order, and have some value in them to allow the purchaser to
enjoy the same. A great rule of thumb would be that if it's not in good
enough condition for you to buy, please don't put it on here. If you'd like
to remain anonymous, please let me know and I will just put my name and
phone number for prospective buyers to contact. Let me know when you add in
your item. There will be a 24 - 48 hour delay before your item becomes live
on the site. Items that remain on the site and have not sold will need to
be removed from time to time to allow us to showcase as many items as
possible. Buyers: All items sold through our Marketplace are as-is, where-is
condition, and are not guaranteed by me in any way. All arrangements for
pick up, payment, etc should be negotiated between the buyer and seller, and
all sales will be considered final unless prior arrangements are made
between the two parties. (that's the fineprint I have to add J). If we
have more than one request for an item, the highest bidder wins. All
questions, offers, will be forwarded to the seller to negotiate directly
with prospective buyers. Markteplace is just one reason to visit my site on a daily basis! Breaking
News, Traffic, Weather, Sports, Market Information, Donations to Hospital
For Sick Children, My Blogs, Real Estate Listings, our Members' Forum, and
so much more await you at www.AsifKhan.ca. You may as well make it your
Homepage!! J

This is version 1 of the Marketplace and I will continue to tweak it and
work on it to make it a better place for you to buy and sell your extras. I
look forward to your feedback on this newest addition to our website, and
current features available. In my quest for on-going improvement, please
let me know what you would like to see on the site.

Asif Khan, Realtor

Re/Max All-Stars Realty Inc.

Google me: Asif Khan Re/Max

Follow me on Twitter Become a Fan on Facebook

A year and a half ago, the media’s sensationalism almost brought the Real Estate market in Canada to a halt.  Gloomy headlines had consumers nervous about their largest investments.  Sellers were panicking, and buyers were in a holding pattern.  After a while, consumers realized that the media’s take on the Real Estate landscape was not entirely correct, and the Real Estate market returned to full strength, bringing the Canadian Economy back to stability.  This week, creative journalism has surfaced once again and surely blown the CREA vs. Competition Bureau challenge way out of proportion over the past few days.  Headlines on television, and in newspapers have made it seem as though the Competition Bureau has already won a war they are fighting with themselves.  We are dealing with journalists that do not understand either side’s argument writing articles that are seemingly bashing Realtors everywhere.  Part of a Realtor’s Professional responsibility is to protect the consumer by maintaining the integrity of the CREA owned MLS system.  Changes proposed by the Bureau that would undermine the MLS system are not in the best interest of the Canadian consumer.  Realtors are governed by federal, municipal and provincial bodies and adhere to strict rules and a Code of Ethics to maintain the integrity of the data that is put on the MLS.  As Realtors, we would not be acting in the best interest of the consumer if we allow the Bureau to have its way with our marketing system.  The battle is not about commissions or our longevity.  The battle is about principle.  The MLS is owned by CREA, was developed by CREA, is maintained by CREA, and CREA members pay fees for the upkeep and improvement of the system annually.  CREA members are licensed to use the system as a tool to assist their clients market their properties and realize favourable returns on their largest investments.   How does a third party force an organization to give up its trade secret/tools to non-members?  This is my issue, and also the fact that the media’s misinterpretation of the issue could cause a significant jolt to the Real Estate landscape in Canada.  What we lack is not competition, what we lack is journalistic integrity.

Real Estate is Canada’s economic engine.  It is the driving force that prevented us from a devastating recession last year.  A strong housing market alongside the world’s #1 ranked banking system continues to lead us towards economic growth. 

With this in mind, it is mind boggling as to why the Competition Bureau would fail to acknowledge the concessions CREA has made to come to a resolution on this front.  This week, CREA has made changes to the MLS to satisfy the Competition Bureau and is willing to work with the Bureau to resolve issues raised.   In turn, the Bureau has walked away from the table electing in their sole discretion to take this matter before a Tribunal. 

Change is a constant in any business.  Just over 50 years ago, the MLS system did not exist.  The public site that was created by CREA to allow everyone access to the MLS system is relatively new to Real Estate as well.  Everyday, we are surrounded by change.  It wasn’t long ago that text messaging did not exist, now millions of text messages are sent around the world every hour.  We are not fighting the change, change is inevitable.  Realtors embrace change daily.  Change is not the issue.  The issue here is in regards to Competition.  Is the Real Estate Industry Competitive?  Has CREA created a monopoly with their MLS System (by the way the MLS is a tool that they own, developed, and maintain through membership fees).  The MLS is not the only site available to buy and sell properties.  There are hundreds of sites and strategies consumers can choose from to market their property.  Many of these sites are operated by non-licensed representatives are not accountable for the data they upload, nor are they responsible for any misrepresentation.  To go further, there are currently member brokerages of CREA that offer flat fee arrangements or low cost alternatives with limited or no services.  The only stipulation is that they must offer an amount for commission to other representatives, this amount could be $1.  The business of real estate is arguably the most competitive industry around.  There are approximately 100,000 Realtors in Canada, associated with hundreds or thousands of brokerages in the country.  Each Realtor employs their own marketing strategy, fee structure, and competes with one another for business.  Fees vary from flat rate to a percentage of the home price.  As with anything, you get what you pay for.  Buyers and Sellers have, and always will have, the right to market their property or purchase a home on their own.  There are many “for sale by owner” businesses that also compete with Realtors.  As I’ve stated before, this is not about competition at all.  How can it be?  There is no monopoly, there is no fixed fee structure, there is no set services to purchase.   In my opinion, there is no issue!

Now, if it is decided that the MLS be opened up to everyone, this is not a huge deal, but it will come with consequences.  In today’s day and age of Identity Theft, Fraud and Misrepresentation, consumers will be left to fend for themselves - if they choose to act on their own behalf.  There will be lawsuits, people will lose their homes, and there will be more work for the banks to prevent mortgage frauds.  This is good news for Realtors though.  Allowing the posting of properties by parties that are not obligated to be responsible for the information they upload will enhance the value of a Realtor.  Consumers will rely on a Realtor’s expertise even more so to protect their best interest.  Michael Polzler, Executive Vice President and Regional Director of Re/Max Ontario-Atlantic, states “there is more to what we do as realtors than place properties for sale on the MLS…….MLS is just one of the tools that we use during the course of a transaction”.    When buying and selling their largest investment, consumers will continue to rely on the expertise, education, experience and negotiation abilities of professional Realtors.  The media has created a perceptions that organized real estate starts and ends with the MLS system.  How unlike the media to stray from the truth, isn’t it? Unfortunately, the truth will not sell newspapers.  Let’s look at what an experienced agent will NET for the consumer as opposed to discount brokerages or sales by owners.  The figures speak for themselves.  You get what you pay for.  When selling a home, what is important is the amount the Seller puts in their pocket at the end of the day.  A proven Realtor’s expertise and knowledge will continue to be relied upon and we will continue to deliver and ensure the best return on investment for our clients.  Although I haven’t been known to agree with the media over the past two years, I must agree with them on this next point.  The media is correct in that the value a Realtor brings to Real Estate transactions is about to change.   A Realtor’s value is about to be INCREASED tremendously! J

Asif Khan, Realtor

Re/Max All-Stars Realty Inc.

Google me: Asif Khan Re/Max

Follow me on Twitter 

Become a Fan on Facebook

The Commissioner of Competition has determined that CREA’s rules restrict the ability of consumers to choose the real estate services they want, forcing them to pay for services they do not need. The rules also prevent real estate agents from offering more innovative service and pricing options to consumers. The Commissioner’s application to the Competition Tribunal seeks to strike down these anti-competitive rules.

Over the past two weeks, I’ve been asked on a daily basis about the challenge put forth by the Competition Bureau.  Here are my thoughts and opinion on this somewhat controversial subject, without prejudice of course.

Now, the important thing is that the consumer will still rely on Realtors to list their property on the MLS.  However, there are some problems in the accusations that Commissioner Melanie Aitken has made about Realtors and the MLS.  Let’s take a look at a few of them.

Basically, what Aitken is saying is that the tool that CREA has developed is quite remarkable.  Fellow Realtors, we should be proud!  For CREA, this is a tremendous compliment.  The MLS is a power house tool that helps consumers sell their homes fast and gives them the best results possible during the home selling process.  CREA has authorized all its members to use this tool.  After all, membership DOES have its privileges.  Now, I’m not certain if Melanie Aitken’s parents used to allow her to go into her friends homes and walk out with their toys, but it is wrong to want to just take away someone else’s property.  She would like CREA to give the tool that was created for their members to everyone.  Yes, any brokerages or sales persons not affiliated with CREA should be allowed to list on the MLS is what she is saying.  Furthermore, she would like to reduce our service fees to allow us to work for much less than what we are worth, and at the same time open up our profession to others that may be less qualified.  Apparently, we need to work for a “reduced cost”?  “Reduced” in reference to what?? CREA does not set our fees.  That is how we have the discount brokerages like Right At Home, Home At Ease, etc as part of CREA.  Aitken then goes on to say “Selling a home is one of the largest financial transactions that most Canadians make in their lifetime,”.  This is true, so why would you want them to choose inferior options?   Her next statement is “Consumers should be able to choose which services they want to buy in order to facilitate that transaction, including lower-cost options”.  Consumers are, and always have been able to select which services they want and how much they want to pay.  Maybe Ms. Aitken, you need to sit down with a group of Realtors prior to making the accusations that you have.

The Bureau’s challenge is against rules imposed by CREA on agents who list properties on the Multiple Listing Service (MLS) system. The overwhelming majority of real estate transactions in Canada make use of the MLS system, which includes important information available only to CREA members. Before listing a property on MLS, agents must agree to comply with CREA’s restrictions on the service options they provide to Canadian consumers. If anyone has problem with this then they have misinterpreted what this means.  The reason CREA “imposes” rules on agents is to protect the consumer!  CREA is self-governing and its members have a strict Code Of Ethics to follow, unlike the government.  When CREA states that we have to present all offers to our clients, it means that should an offer come in, we must disclose this to our clients.  It does not mean that if the client wants to review the same on their own, that we say “no”.  We assist the sellers in negotiating offers for them.  This is NOT a requirement to put an MLS listing on the board, it is a service standard to protect the consumer and ensure they receive value in their investment.  Should a client wish to negotiate offers on their own, it is their right to do so.  As well, the MLS system is created, owned, and operated by CREA.  CREA has put together a system that EVERYONE can use, which is called REALTOR.ca, formerly MLS.ca.  Should you wish to market your listing to others without MLS, there are many options including Craigslist, On-line newspaper classifieds, Kijijii, and more.  You are correct in that the majority of the transactions are the result of properties being marketed on the MLS system.  That is why this system was created by our membership and FOR OUR MEMBERSHIP. Should people want to market their homes without the MLS, they are welcome to do so.  Some of the other options are not available to Realtors, such as For Sale By Owner sites.  After having spent so much time and money on developing a tool for our members, why should we be forced to give it away?  Why should we be forced to allow our intellectual property to be utilized by non-members?  Should Microsoft allow Apple to use Windows, just because MAC users do not have access to it?  Should Honda share it’s trade secrets with General Motors to allow a “fair playing field”? Since my tax dollars go towards snow removal, shouldn’t my town clear my driveway just as they do theirs?  If it is all about protecting the Consumer, shouldn’t “protection” be all-encompassing?  Let’s be honest Ms. Aitken, this is not about protecting anyone, it’s a plain and simple witch hunt. 

Another disturbing statement: “For example, under CREA’s rules, agents are prohibited from offering consumers the option of simply paying a fee for an agent to list a home on the MLS system. Instead, all consumers looking to list a property on MLS must purchase a predetermined set of additional services from a real estate agent, such as the presentation of offers and negotiation of a final deal.”  Where on Earth did you dig this up from Ms. Aitken?  There is no predetermined set of additional services that need to be purchased from Real Estate agents. Who would want to list a property and not have offers presented or negotiated?  You referred to photographs of the home a few times in your accusations.  This is not something that is required, it is something Realtors provide – and pay for – as part of our professional services.  The goal is to sell the house right?

Aitken goes on to say “The Bureau is focused on striking down these anti-competitive rules, so that real estate agents wishing to offer innovative services can do so, and consumers can benefit from greater choice,”.  Ms. Aitken, we have 96,000 Realtors in Canada.  I think there is somewhat of a choice available already, and there are as many innovative services as with any other profession - if not more.  Aitken states “the market will ultimately determine prices for residential real estate services”, and this is already the case.  There is no fixed fee, there are many realtors and brokerages that charge what they deem adequate for the service they provide.  The market has been determining prices for real estate services for many years. 

Apparently, The Competition Bureau “is an independent law enforcement agency that contributes to the prosperity of Canadians by protecting and promoting competitive markets and enabling informed consumer choice”.  Informed consumer choice?  It seems the consumers’ informants are not fully educated on the subject they all of the sudden deem themselves to be experts in.  By trying to put doubt in the unsuspecting consumers mind that Real Estate Professionals are out to get them will not help people realize the best return on their largest investment.  It will jeopardize their livelihood and hurt the Canadian Housing market in a way no recession could ever do.  Aitken says that RealtySellers, a discount brokerage from Toronto, went out of business because of their inability to charge lower fees on the MLS.  Actually, RealtySellers went out of business because their business model was poor and attracted inferior agents.  Which brings us to the main issue Ms. Aitken. The issue is that there are far too many inferior agents out there that should be kicked out of the profession.  Your high-handed actions will just encourage more of these agents to get into the business and deteriorate the quality of the Real Estate Sales Representatives in the field.  You are not fixing a problem, you are creating it.  Garbage in – garbage out, could be a simpler way to put this.    Many Realtors leave the business every year.  During the 2008 “recession”, quite a few left, yet you show no remorse for them.  Ms. Aitken, you seem to take the RealtySellers situation quite personally.  Were you a partner in the company?

The only change that is necessary, is for the government to stop wasting tax payers dollars on useless commissions such as yours.  What is next?  Should we allow everyone access to the Registry office and bring down legal fees, since having Lawyers involved in every transaction is against the competition act – and costly?  Should we allow manufacturers to be able to walk into any retail operations and sell their product?  Is it anti-competitive to have just one superior court?  Where does it end?

This is not about protecting the consumer.  It is more about one person’s ego and power trip.  The high-handed behaviour being demonstrated by Aitken and her Commission is nothing less than discrimination against Realtors.  How else can you explain the forcing of an organization to give up their greatest asset to the general public, an asset that they have developed over the years to help consumers market their greatest asset, and a tool that has been created solely through membership fees?  In Aitken’s own words “we expect that if the Tribunal strikes down the anti-competitive restrictions, there will be downward pressure on real estate fees in Canada.”  In my humble opinion, this is Discrimination!  Enough said.

Asif Khan, Realtor
Re/Max All-Stars Realty Inc.

Follow me on Twitter www.twitter.com/remaxallstar
Become a Fan...Click Here www.facebook.com/asifkhanremax
Google Me: Asif Khan ReMax

Recently the Competition Bureau announced that it will challenge rules imposed by the Canadian Real Estate Association (CREA) that limit consumer choice and prevent innovation in the market for residential real estate services.

The Commissioner of Competition has determined that CREA’s rules restrict the ability of consumers to choose the real estate services they want, forcing them to pay for services they do not need. The rules also prevent real estate agents from offering more innovative service and pricing options to consumers. The Commissioner’s application to the Competition Tribunal seeks to strike down these anti-competitive rules.

Over the past two weeks, I’ve been asked on a daily basis about the challenge put forth by the Competition Bureau.  Here are my thoughts and opinion on this somewhat controversial subject, without prejudice of course.

Now, the important thing is that the consumer will still rely on Realtors to list their property on the MLS.  However, there are some problems in the accusations that Commissioner Melanie Aitken has made about Realtors and the MLS.  Let’s take a look at a few of them.

Basically, what Aitken is saying is that the tool that CREA has developed is quite remarkable.  Fellow Realtors, we should be proud!  For CREA, this is a tremendous compliment.  The MLS is a power house tool that helps consumers sell their homes fast and gives them the best results possible during the home selling process.  CREA has authorized all its members to use this tool.  After all, membership DOES have its priveledges.  Now, I’m not certain if Melanie Aitken’s parents used to allow her to go into her friends homes and walk out with their toys, or if the kleptomania may have set in later, but it is wrong to want to just take away someone else’s property.  She would like CREA to give the tool that was created for their members to everyone.  Yes, any brokerages or sales persons not affiliated with CREA should be allowed to list on the MLS is what she is saying.  Furthermore, she would like to reduce our service fees to allow us to work for much less than what we are worth, and at the same time open up our profession to others that may be less qualified.  Apparently, we need to work for a “reduced cost”?  “Reduced” in reference to what?? CREA does not set our fees.  That is how we have the discount brokerages like Right At Home, Home At Ease, etc as part of CREA.  Aitken then goes on to say “Selling a home is one of the largest financial transactions that most Canadians make in their lifetime,”.  This is true, so why would you want them to choose inferior options?   Her next statement is “Consumers should be able to choose which services they want to buy in order to facilitate that transaction, including lower-cost options”.  Consumers are, and always have been able to select which services they want and how much they want to pay.  Maybe Ms. Aitken, you need to sit down with a group of Realtors prior to making the accusations that you have.

The Bureau’s challenge is against rules imposed by CREA on agents who list properties on the Multiple Listing Service (MLS) system. The overwhelming majority of real estate transactions in Canada make use of the MLS system, which includes important information available only to CREA members. Before listing a property on MLS, agents must agree to comply with CREA’s restrictions on the service options they provide to Canadian consumers.  Ms. Aitken, if you have a problem with this you are either crazy or have misinterpreted what this means.  The reason CREA “imposes” rules on agents is to protect the consumer!  CREA is self-governing and its members have a strict Code Of Ethics to follow, unlike the government.  When CREA states that we have to present all offers to our clients, it means that should an offer come in, we must disclose this to our clients.  It does not mean that if the client wants to review the same on their own, that we say “no”.  We assist the sellers in negotiating offers for them.  This is NOT a requirement to put an MLS listing on the board, it is a service standard to protect the consumer and ensure they receive value in their investment.  Should a client wish to negotiate offers on their own, it is their right to do so.  As well, the MLS system is created, owned, and operated by CREA.  CREA has put together a system that EVERYONE can use, which is called REALTOR.ca, formerly MLS.ca.  Should you wish to market your listing to others without MLS, there are many options including Craigs List, On-line newspaper classifieds, Kijijii, and more.  You are correct in that the majority of the transactions are the result of properties being marketed on the MLS system.  That is why this system was created by our membership and FOR OUR MEMBERSHIP. Should people want to market their homes without the MLS, they are welcome to do so.  Some of the other options are not available to Realtors, such as For Sale By Owner sites.  After having spent so much time and money on developing a tool for our members, why should we be forced to give it away?  Why should we be forced to allow our intellectual property to be utilized by non-members?  Should Microsoft allow Apple to use Windows, just because MAC users do not have access to it?  Should Honda share it’s trade secrets with General Motors to allow a “fair playing field”? Since my tax dollars go towards snow removal, shouldn’t my town clear my driveway just as they do theirs?  If it is all about protecting the Consumer, shouldn’t “protection” be all-encompassing?  Let’s be honest Ms. Aitken, this is not about protecting anyone, it’s a plain and simple witch hunt. 

Another disturbing statement: “For example, under CREA’s rules, agents are prohibited from offering consumers the option of simply paying a fee for an agent to list a home on the MLS system. Instead, all consumers looking to list a property on MLS must purchase a pre-determined set of additional services from a real estate agent, such as the presentation of offers and negotiation of a final deal.”  Where on Earth did you dig this up from Ms. Aitken?  There is no pre-determined set of additional services that need to be purchased from Real Estate agents. Who would want to list a property and not have offers presented or negotiated?  You referred to photographs of the home a few times in your accusations.  This is not something that is required, it is something Realtors provide – and pay for – as part of our professional services.  The goal is to sell the house right?

Aitken goes on to say “The Bureau is focused on striking down these anti-competitive rules, so that real estate agents wishing to offer innovative services can do so, and consumers can benefit from greater choice,”.  Ms. Aitken, we have 96,000 Realtors in Canada.  I think there is somewhat of a choice available already, and there are as many innovative services as with any other profession - if not more.  Aitken states “the market will ultimately determine prices for residential real estate services”, and this is already the case.  There is no fixed fee, there are many realtors and brokerages that charge what they deem adequate for the service they provide.  The market has been determining prices for real estate services for many years. 

Apparently, The Competition Bureau “is an independent law enforcement agency that contributes to the prosperity of Canadians by protecting and promoting competitive markets and enabling informed consumer choice”.  Informed consumer choice?  It seems the consumers’ informants are not fully educated on the subject they all of the sudden deem themselves to be experts in.  By trying to put doubt in the unsuspecting consumers mind that Real Estate Professionals are out to get them will not help people realize the best return on their largest investment.  It will jeopardize their livelihood and hurt the Canadian Housing market in a way no recession could ever do.  Aitken says that RealtySellers, a discount brokerage from Toronto, went out of business because of their inability to charge lower fees on the MLS.  Actually, RealtySellers went out of business because their business model was poor and attracted inferior agents.  Which brings us to the main issue Ms. Aitken. The issue is that there are far too many inferior agents out there that should be kicked out of the profession.  Your high-handed actions will just encourage more of these agents to get into the business and deteriorate the quality of the Real Estate Sales Representatives in the field.  You are not fixing a problem, you are creating it.  Garbage in – garbage out, could be a simpler way to put this.    Many Realtors leave the business every year.  During the 2008 “recession”, quite a few left, yet you show no remorse for them.  Ms. Aitken, you seem to take the RealtySellers situation quite personally.  Were you a partner in the company?

The only change that is necessary, is for the government to stop wasting tax payers dollars on useless commissions such as yours.  What is next?  Should we allow everyone access to the Registry office and bring down legal fees, since having Lawyers involved in every transaction is against the competition act – and costly?  Should we allow manufacturers to be able to walk into any retail operations and sell their product?  Is it anti-competitive to have just one superior court?  Where does it end?

This is not about protecting the consumer.  It is more about one person’s ego and power trip.  The high-handed behaviour being demonstrated by Aitken and her Commission is nothing less than discrimination against Realtors.  How else can you explain the forcing of an organization to give up their greatest asset to the general public, an asset that they have developed over the years to help consumers market their greatest asset, and a tool that has been created solely through membership fees?  In Aitken’s own words “we expect that if the Tribunal strikes down the anti-competitive restrictions, there will be downward pressure on real estate fees in Canada.”  In my humble opinion, this is Discrimination!  Enough said.

Asif Khan, Realtor

Re/Max All-Stars Realty Inc.

Google me: Asif Khan Re/Max

Follow me on Twitter 

Become a Fan on Facebook