Over the last several years, your Board has conducted extensive research into improving the public perception of REALTORS®. Transparency in the buying and selling process emerged as a prominent issue for buyers and sellers involved in real estate transactions. 

Here are two ways we’ve addressed transparency concerns for the home buying and selling public. 

As of July 17, listing Realtors need to complete a new form called the Disclosure of Multiple Offers Presented before they present any offer in a multiple offer situation.

In the form, you’ll list each offer to be presented, including the date of the offer and the name of the cooperating brokerage involved, or a notation if the buyer is unrepresented by a brokerage. The seller must sign the form after all offers have been presented and they have made their decision. 

The listing Realtor must then provide the completed form to each buyer's agent and unrepresented buyer as soon as possible, but no later than one calendar day after the seller accepts an offer or rejects all offers.

• Ethics Guy® Kim Spencer’s top tip video
• Read Kim’s column
• Review our FAQ
• Read our announcement

In our research, more than 50 per cent of the public said that they would hold a more positive view of Realtors if we made home price information available. So, starting last fall, we began to display historical home sale prices on Realtor.ca for homes actively listed for sale on the MLS® in the region.  

Sale prices only appear for sales that occurred at least 12 months prior to the home’s most recent listing date.

Read our announcement and review our FAQ for more details.

We’re exploring and evaluating several different offer management systems so you can register and communicate offers more efficiently and expeditiously with your clients. Stay tuned for more information.