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MLS® DATA-SHARINGUPDATE
2017 Fall Election Meeting
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MLS® TASK FORCE PRESENTATION TOPICS
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The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of
services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled byCREA and identify real estate professionals who are members of CREA.
▪ Introductions – Who is the Task Force?
▪ Quick Recap – Why are we joining the sharing movement?
▪ Methodology – How did we decide on tech partners?
▪ ORTIS – Who are they?
▪ Financials – What will this cost us?
▪ Progress Update – What took us so long?
▪ Next Steps – Rollout, Training, Compliance, etc
▪ Quick Q&A
MLS® TASK FORCE
Ryan GilmourTask Force Chair
Branden KamekaPresident
Paul FletcherPast President
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Asha SinghPast President
Jeff O’LearyDirector
Membership who voted were in
favour of seeking data access95%
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▪ Mobilized Workforce - Listing and Selling further from home
▪ Data Gap - Listings from adjacent communities missing from Stratus
▪ Competent Service – Listing/Sold data essential
▪ Exposure – Our listings invisible to other boards
▪ Economies of Scale – Costs to acquire, join & maintain MLS much lower
▪ Member Savings – Many members paying multiple board fees of $1200+
▪ Sharing Movement – Ontario boards are motivated = OPPORTUNITY
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Why are MREB members
seeking Data Sharing?
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Just how MOBILE are we?
Mississauga Agents # of Ends Ends/Agent 2+ Ends 3+ Ends
Oakville 2,572 6,522 2.54 996 524
Burlington 1,542 3,754 2.44 483 246
Hamilton 547 869 1.6 170 64
TOTAL 11,145 1649 834
Mississauga-based closed ends in 12 months ending October 2017
Source: RE-Stats; Toronto Real Estate Board data for 12 months ending October 31 2017 in communities listed where Office City is Mississauga
1. Identify Reasonable means of Data-Sharing
2. Asses the merits and challenges with each option:
✓ Fitness of the Solution
✓ Ease of Use
✓ Cost to Members/Board
✓ Longevity
✓ Legal implications
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Task Force Guiding Principles:
Options Considered for
Data-Sharing:
▪ Data-sharing within Toronto Real Estate Board - not likely in near-term
▪ CONNECT – multi-board support, already integrated, missing functionality – does not work
▪ OREA initiatives – none planned in the near-term
▪ Direct Partnership with RAHB or OMDREB – no authority to share other board data
▪ MREB’s own MLS® system + data-sharing with other Boards – costly, time-consuming
▪ Ontario 14 – based in Western Ontario, great concept, no data for our area
▪ ORTIS membership – Most viable option
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ORTIS Member Boards including data-sharing partnerships
▪ Oakville / Milton
▪ Hamilton / Burlington
▪ Niagara
▪ Brantford
▪ Kitchener / Waterloo
▪ Cambridge
▪ Guelph
▪ Simcoe
▪ Barrie
▪ Huron / Perth
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ORTIS Considerations
▪ Strength in numbers – now 10,000+ members
▪ Listings from adjacent non-TREB districts
▪ Equal Access for members
▪ Mature Sold data in their markets
▪ Matrix system by CoreLogic – best of breed
▪ ShowingTime & other apps included
▪ Equal Representation for Boards
▪ Community “feel” – culture of sharing
▪ Long-term agreement – 5 years
▪ Everyone must join
▪ Requires “cross-posting” listings
▪ Some up-front costs to members
▪ Increase to our dues
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* Rates do not include OREA/CREA dues
https://www.mreb.ca/
Annually $780
Semi-Annually $399
Quarterly $205
Monthly $ 72
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Membership Costs including
ORTIS membership
Annually $1200-1400
Semi-Annually $600-700
Quarterly $300-350
Monthly $100-120
2018MREB fees
Typical ORTIS board fees
* Rates do not include OREA/CREA dues
https://www.mreb.ca/
Annually $780
Semi-Annually $399
Quarterly $205
Monthly $ 72
www.mreb.ca
Membership Costs including
ORTIS membership
2018MREB fees
Typical ORTIS board fees
Annually $1200-1400
Semi-Annually $600-700
Quarterly $300-350
Monthly $100-120
▪ Existing Members - $75.00▪ New Members - $200.00
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▪ Offset one-time setup fee charged by Clarity Systems
▪ Mandatory staff training, Roll-out & Admin Costs
▪ ORTIS initiation fees payable by MREB
▪ USD vs CAD exchange & volatility
▪ Any mid-term cost increases
▪ Training for MREB Members
MLS® Initiation Fees
▪ March 2017 – Initial meeting with the ORTIS Board
▪ April 2017 - Received Rates & Terms
▪ May 2017 - Agreement received & Lawyers reviewed
▪ June 2017 - Broker/Manager update
▪ July 2017 - Bylaws reviewed & amended
▪ August 2017 – MLS Task Force Update & Webinar
▪ September 2017 – Final meeting with ORTIS members
Progress Report
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▪ Next week - Final Contract Signing▪ Late November - Staff Training▪ Early December - Train-the-trainer series, Broker outreach▪ Mid-December - MLS committees, Compliance & Arbitration reviews▪ Q1: Member management system integration
▪ January 2018 targeted for go-live!
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Next Steps…
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