• Prohibiting multiple listing services (“MLSs”) from disclosing to prospective buyers the amount of commission that the buyer broker will earn if the buyer purchases a home listed on the MLS (“NAR’s Commission Concealment Rules”);

• Allowing buyer brokers to mislead buyers into thinking that buyer broker services are free (“NAR’s Free-Service Rule”);

• Enabling buyer brokers to filter MLS listings based on the level of buyer broker commissions offered and to exclude homes with lower commissions from consideration by potential home buyers (“NAR’s Commission-Filter Rules and Practices”); and

• Limiting access to lockboxes that provide licensed brokers physical access to a home that is for sale to only those real estate brokers who are members of a NAR-affiliated MLS (“NAR’s Lockbox Policy”).

In fact, these practices were found to be anti-competitive; they were arguably keeping commissions artificially high. So much so that a federal court recently awarded $1.8 billion in damages. It was also decided that no rule or practice should exist that:

• Prohibits, discourages, or recommends against an MLS or MLS Participant publishing or displaying to consumers any MLS database field specifying the compensation offered to other MLS Participants;

• Permits or requires MLS Participants, including buyer brokers, to represent or suggest that their services are free or available to a client at not cost to the client;

• Permits or enables MLS Participants to filter, suppress, hide, or not display or distribute MLS listings based on the level of compensation offered to the buyer broker or the name of the brokerage or agent; or

• Prohibits, discourages or recommends against the eligibility of any licensed real estate agent or broker, from accessing, with seller approval, the lockboxes of those properties listed on an MLS.

Some believe that this ruling -- which will create more competition -- could reduce the $100 billion or so of commissions paid each year (in the US) by as much as 30%. This is possible. I have no idea how this estimate was calculated. But it does make intuitive sense that commissions should come down. This ruling gets at the heart of what sustains the industry: one side of the marketplace needs to feel that they're, mostly, not really, paying.

• Prohibiting multiple listing services (“MLSs”) from disclosing to prospective buyers the amount of commission that the buyer broker will earn if the buyer purchases a home listed on the MLS (“NAR’s Commission Concealment Rules”);

• Allowing buyer brokers to mislead buyers into thinking that buyer broker services are free (“NAR’s Free-Service Rule”);

• Enabling buyer brokers to filter MLS listings based on the level of buyer broker commissions offered and to exclude homes with lower commissions from consideration by potential home buyers (“NAR’s Commission-Filter Rules and Practices”); and

• Limiting access to lockboxes that provide licensed brokers physical access to a home that is for sale to only those real estate brokers who are members of a NAR-affiliated MLS (“NAR’s Lockbox Policy”).

In fact, these practices were found to be anti-competitive; they were arguably keeping commissions artificially high. So much so that a federal court recently awarded $1.8 billion in damages. It was also decided that no rule or practice should exist that:

• Prohibits, discourages, or recommends against an MLS or MLS Participant publishing or displaying to consumers any MLS database field specifying the compensation offered to other MLS Participants;

• Permits or requires MLS Participants, including buyer brokers, to represent or suggest that their services are free or available to a client at not cost to the client;

• Permits or enables MLS Participants to filter, suppress, hide, or not display or distribute MLS listings based on the level of compensation offered to the buyer broker or the name of the brokerage or agent; or

• Prohibits, discourages or recommends against the eligibility of any licensed real estate agent or broker, from accessing, with seller approval, the lockboxes of those properties listed on an MLS.

Some believe that this ruling -- which will create more competition -- could reduce the $100 billion or so of commissions paid each year (in the US) by as much as 30%. This is possible. I have no idea how this estimate was calculated. But it does make intuitive sense that commissions should come down. This ruling gets at the heart of what sustains the industry: one side of the marketplace needs to feel that they're, mostly, not really, paying.

One Delisle was revealed this evening for the first time to a select group of Toronto's top real estate brokers. Follow #onedelisle on IG for some of the reactions. It was done online via a livestream, which was exceptional for what it was, but is obviously not as great as being in one room together. That time will return.

At this point, we are thrilled to announce that we are opening up "limited registration" for the project. If you'd like to register your interest, you can do that now at onedelisle.com. However, to register at this phase of the project, you'll need to pay a one-time fee of C$150.

Why are we doing that?

We're doing it to ensure that those who are genuinely interested in a One Delisle residence get first access to the project when it launches next year. Anyone who registers during this "limited registration" phase will be guaranteed a private appointment at our sales gallery before the general public.

So what else do you get?

In addition to first access -- including first access to the project's terrace suites -- limited registrants will receive a copy of Studio Gang: Architecture (retail price, US$100), an invitation to our One Delisle Film Series, an invitation to our launch event (including a talk with Jeanne Gang), as well as other exclusive news and updates.

The other thing I'd like to point out about the project's website is that the animation you see on the homepage (pictured above) will, in fact, change depending on the time of day wherever you are and when you visit the website.

This allows you to get a feel for how the architecture might respond to light and shadow throughout the day and how it might be illuminated at night. What you're seeing above is an artist's impression of that night view.

For more information and to register your interest, visit onedelisle.com.

One Delisle was revealed this evening for the first time to a select group of Toronto's top real estate brokers. Follow #onedelisle on IG for some of the reactions. It was done online via a livestream, which was exceptional for what it was, but is obviously not as great as being in one room together. That time will return.

At this point, we are thrilled to announce that we are opening up "limited registration" for the project. If you'd like to register your interest, you can do that now at onedelisle.com. However, to register at this phase of the project, you'll need to pay a one-time fee of C$150.

Why are we doing that?

We're doing it to ensure that those who are genuinely interested in a One Delisle residence get first access to the project when it launches next year. Anyone who registers during this "limited registration" phase will be guaranteed a private appointment at our sales gallery before the general public.

So what else do you get?

In addition to first access -- including first access to the project's terrace suites -- limited registrants will receive a copy of Studio Gang: Architecture (retail price, US$100), an invitation to our One Delisle Film Series, an invitation to our launch event (including a talk with Jeanne Gang), as well as other exclusive news and updates.

The other thing I'd like to point out about the project's website is that the animation you see on the homepage (pictured above) will, in fact, change depending on the time of day wherever you are and when you visit the website.

This allows you to get a feel for how the architecture might respond to light and shadow throughout the day and how it might be illuminated at night. What you're seeing above is an artist's impression of that night view.

For more information and to register your interest, visit onedelisle.com.

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