Edmonton Real Estate Blog

Realtors® Association of Edmonton a House Divided Over Policy Change

The Realtors® Association of Edmonton, or RAE, is usually so sedate and evenly tempered. But a recent policy change approved by the board has brought out the beast in the group. It sits a house divided, as several dozen members voice their disapproval over the way sales data for local properties is disclosed to the public. The new rules, set to go into effect this December, are believed by some a way to keep realtors and potential clients out of the loop.

Irate brokers noted the new system would prohibit buyers and sellers as well as appraisers and the agents themselves from getting data until a home sale deal is closed. That delays that information sometimes for months after an agreement to purchase has been signed.

At present information is available in real time on the Multiple Listing Service®, or MLS®, for properties that have already been sold without conditions. This allows sellers and their agents to price their homes appropriately and buyers...