|
December 8 Update
Additional Information – Data Fee Replacing MLS® Listing Fees (Flat Fee Model)
We have heard from Members requesting clarification about the December 7 announcement on the new Flat Fee model – reviewed and recommended by the Listing Fees Sub Committee of the Member Services Committee.
The Data fee is a replacement for the per MLS® listing fees. Agents will be invoiced $40/month instead of $65 per listing. This is not to be confused with the Data Access fee that was paid along with Membership Fees in past years. For 2023, we have eliminated multiple dues; you will now be invoiced for one RAE Membership fee (see below).
A key driver of this change is that the cost of MLS® services is driven primarily by the number of users and not the number of listings. As such, under the listing model, not all agents who used the data were contributing to covering the cost of service.
For 2023, your RAE Membership Dues will be as follows:
- RAE Membership Dues: $1075 + GST
- Annual Data Fee (Billed Monthly at $40 + GST): $480 + GST
- E-Key: $285 + GST (or E-Key Pro: $430 + GST)
Questions?
Contact RAE Accounting for more information at accounting@therae.com.
December 7 Update
New Flat Fee Model – Upcoming Changes to MLS® Listing Fees
After reviewing multiple options for fee models, the Listing Fees Sub Committee of Member Services Committee recommended a Single Data Fee “Flat Fee” Model to the Board of Directors. This model promotes the value of shared data through the Association’s MLS® System and will allow all Members equal opportunities to use/ benefit from this data.
The Board of Directors passed the motion in September 2022 for a flat fee model to be implemented starting January 2023.
What’s Changing?
This new Data Fee replaces our existing MLS® Listing Fees. You will receive a monthly invoice of $40.00 + GST (at the beginning of each month) and have until the last day of the month to submit payment through your member account.
Other MLS® services and fines remain unchanged and will be charged accordingly:
- Services: board-loaded listings, board-loaded photos
- Fees/Fines: late sales, incomplete’s, administrative penalties
What Will the Transition Look Like?
Starting January 2, 2023, you will receive a direct email notification for your January and February Data Fees. You’ll be able to click through to the Member Portal and submit payment through your member account. You will then receive a monthly email notification for your Data Fees.
NEW: Members will also have the option to opt-in for auto-billing by saving a credit card on their member account.
What Happens If I Don’t Pay?
We recommend paying all invoices in a timely manner to prevent any interruptions to your services. If payment is not received by the last day of the month, MLS® services will be suspended until payment is completed.
Frequently Asked Questions
- Can I pay for an entire year’s worth of the Data Fee all at once? Currently, we are only accepting monthly payments for Data Fees. However, we will be looking at an annual payment option in the future.
- As a Broker, can I still pay fees (including this new Data Fee) on my Associates' behalf? As a Broker, you will be able to pay the Data Fee on your Associates' behalf in the same way you can currently pay for your Associates' membership dues.
- Will my other annual dues or fees be impacted? No – you will still have your annual RAE dues and EKey Fee, in addition to dues for other organized real estate partners such as CREA and AREA. More information to come on this!
Questions or Concerns?
Please contact RAE Accounting for more information at accounting@therae.com.
|