[Screengrab of Vanfun.com’s home page]
Chinese-speaking real estate investors are getting a bit of a jump on buyers using the public Multiple Listing Service (MLS) website thanks to a Shanghai-based website posting Vancouver listings from the realtor MLS up to a few days before they’re publicly available.
In Canada, licensed realtors get the opportunity to see new listings 48 hours before they hit the public MLS site. But Dan Morrison of the Real Estate Board of Greater Vancouver told Global Newsthat the Chinese-language Vanfun.com skirts that process.
“It’s pretty frustrating. It’s taking our copyrighted information and using it against our rules,” Morrison told the news outlet. “If they are getting access to our information on our system, if someone is giving them those numbers…that’s clearly against our rules.”
Although the website, owned by Shanghai Ruiying Internet Technology, doesn’t seem to have ties to any Vancouver real estate agencies, it offers tours, splits commissions with local realtors, and claims to be working with major banks.