Strengthening public trust: Realtor.ca to display historical home sale prices for active listings
Beginning on September 12, your Board will display historical home sale prices on Realtor.ca for homes actively listed for sale on the MLS® System in the region.
Sale prices will only appear for sales that occurred at least 12 months prior to the home’s most recent listing date.
We’re making this move as part of a broader strategy to increase trust between the public and our profession.
Over the past year, we’ve worked with a research firm to identify ways to improve the public perception of REALTORS®.
This research shows that the public highly values the MLS® System and the guidance and expertise that Realtors provide. At the same time, the public feels our profession lacks transparency when it comes to sharing information that could help them make informed home buying and selling decisions.
In fact, 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.
By beginning to post a limited segment of home sale information on our listing websites, we’ll help dispel the notion that we don’t value transparency.
This move, coupled with other changes we’re pursuing to adjust the Rules of Cooperation to add more transparency around the multiple offer process, will further demonstrate to the public that Realtors have their best interests in mind.
Real estate boards in Chilliwack, Northern BC and across the Okanagan and Interior region already provide this information in their active listings on Realtor.ca.
Virtual Office Websites
If you want to provide a deeper level of MLS® information on your website, including sales prices, we encourage you to add Virtual Office Website (VOW) capabilities.
A VOW is a password-protected area of your website where clients can see all previous home sale prices, pending home sale prices where no conditions remain other than closing, cooperating commissions, and more. VOWs are an increasingly popular feature that Realtors across Canada are offering their clients.
Click here to learn how to add a VOW to your website.
Please email email@example.com.
We’ll have more information on this change in the weeks ahead.