Ontario Real Estate Boards
Did you know that there are 40 Real Estate Boards/Associations in Ontario?
As an example, within Central Ontario alone, you will find 6 different Boards, including The Oakville-Milton and District Real Estate Board (OMDREB) and the Toronto Real Estate Board (TREB), which are the boards we are full members of.
Sellers should be aware when deciding on a listing agent to list their home for sale. As an example, if your home is in Oakville or Milton, you will definitely want your home listed For Sale on The Oakville-Milton and District Real Estate Board, but you may benefit from the listing being on the Toronto Real Estate Board as well. Here's why;
Real Estate Representatives & Brokers must be an active member of an Ontario Real Estate Board in order to trade in Real Estate within the Province. This is an ongoing cost and is quite expensive. Being a member of these boards, Agents/Brokers have access to see new listings, sold listings, agent open houses, expired and cancelled listings as well, but ONLY the listings on that particular board.
So, in reality, if a Realtor working out of Toronto primarily has a client looking to purchase a home in Oakville or Milton, but is only a member of TREB, they may not see your listing if it is only listed on OMDREB.
Same can be said for the reverse scenario as a buyer. If you're looking to purchase a home in Oakville or Milton but your Realtor is based out of Toronto and is only a member of TREB, he/she may not see some homes available on OMDREB and most importantly for buyers and sellers, sold listings are only available to members of that individual board.
It can be a little bit confusing, even for us. We believe there should be one Board across Canada and that all Realtors be provided access to all the data, but that would just be too easy, wouldn't it?
We often field questions regarding why we are members of both OMDREB and TREB and hopefully the reasons above help explain that. Keep in mind, in Oakville and Milton, many of the buyers are coming from areas located to the East (ie. Mississauga & Toronto) and TREB is the largest Board in the Country, so any Realtor working out of Milton/Oakville should most definitely be members of both Boards. We'd feel that we wouldn't be providing our clients the best service possible if we weren't.
For questions about the different boards and where your home is best suited to be listed on or for how to buy a home listed on a particular board, feel free to call us at any time toll free at 1-800-617-0090.
If you're in the market to buy or sell a home, contact us today for your free buyer/seller's package, including a free home evaluation & staging consultation.
Brokerage Independently Owned & Operated