A Mere Posting is a property that is listed for sale through the MLS®, by a homeowner who is not in an agency relationship with a REALTOR®. Although the homeowner must list the property through a licensed REALTOR®, the cost to do so is significantly less, as the agent has a limited involvement for a relatively short and definable time frame. The homeowner is responsible for assuming complete control of the selling process, yet receives the benefit of having their property listed on the national MLS®, reaching a wider audience for a small flat fee.
Why does this selling alternative exist? In March 2010, the Competition Bureau, an independent Canadian law enforcement agency, succeeded in forcing the Canadian Real Estate Association (CREA) to change its rules governing real estate “agency” in Canada, whereby an agency relationship is created when two parties agree to have one party act on behalf of the other. The Bureau’s main motive was to provide Canadian homeowners with more choices in how they transact with real estate agents and the MLS®, furthermore allowing competition for alternative real estate models and essentially unbundling typical full-service offerings.
With a mere posting selling model, the REALTOR® is still responsible for verifying information on the listing, although appointments and offers are made directly through the seller. Many services offer à-la-carte options to homeowners, as some may not desire a full-service package. A mere posting can appear on the MLS® within 24 hours and have a typical duration of 6 months. All communications must first pass through the REALTOR®, which is then forwarded to the seller.