The Buyer Registry Service (BRS) is a database available to members of the Toronto Real Estate Board (TREB). It provides a database of buyers that have entered into a Buyer Representation Agreement with a real estate agent. It is used by real estate professionals to confirm whether buyers have an existing relationship with another agent. The primary role of the BRS is to ensure that clients are better protected and professionally represented in their real estate transactions.
One of the useful benefits of the BRS is that it helps listing representatives find buyers for a specific property. A reverse search functionality allows a TREB member to simply type in criteria about a listed property, and the BRS will return contact information for all REALTORS® with buyer profiles that may be interested in the property. Details about the buyers always remain confidential except to the buyer’s Salesperson and the Broker of Record.
The BRS also helps buyers search for properties through a Property Match functionality. Once the buyer’s profile has been entered into the BRS, the Property Match feature can be activated. Using the buyer’s preferences, the BRS will automatically track new and revised listings that match the buyer’s criteria. The benefit of the Property Match feature is that it can run multiple times a day (unlike an MLS® prospect search) ensuring that buyers are notified of new properties soon after they become available. The BRS is only available to buyers that have signed a Buyer Representation Agreement for a minimum of 5 days.
The BRS is a great feature for buyers, sellers and real estate agents in the Toronto real estate market. It ensures greater efficiency in generating property matches while also maintaining privacy for buyers. The BRS also reinforces the benefits of having a signed Buyer Representation Agreement with a Real Estate Agent. It can clearly provide buyers with a higher level of service when searching for that ideal property.