Residential measurement standard (RMS) sums up the principals that all Realtors licensed by the Real Estate Council of Alberta (RECA) must follow when measuring the above-grade levels of a residential property to ensure consistent, reliable, transparent, and trustworthy results across the Alberta real estate industry.
So, what happens when Realtors don’t use RMS measurements?
When protocol is not followed, that Realtor doesn’t just let themselves down. There is a chain reaction that has a profound effect on everyone involved in the real estate transaction.
Below we look at what happens when you don’t use RMS measurements, and how this affects everyone that depends on your integrity.
You Could Face Discipline
The Real Estate Act Rules (sections 41b and 42a) legislate RMS, and RECA enforces this legislation. RECA assumes that Realtors are aware of the legislation. Should a Realtor fail to use RMS either willfully or through genuine ignorance of the rules, RECA can (and will) disciple the Realtor.
In this economy, now is not the time to have any disciplinary marks on your record. Realtors can still sell a property during the slow months with some careful strategizing and planning. Having to explain yourself to RECA and having your reputation called into question when you need to be leveraging all the tools in your sales kit right now could deal you a crippling blow.
You Disserve Your Clients
The RMS process exists for a very good reason. Even though real estate is in a down market, Alberta still managed to move more than 50,000 units in 2018. That’s over 50,000 properties handled by thousands of Realtors. If every Realtor had their own way of measuring a property, measurements would vary drastically from home to home, and clients would never get a true sense of the property’s scale.
Perhaps you feel 3D scanning is the way to go, or maybe you want to save money in this market by cutting a few corners. When you do that, however, you really disserve your clients. Even though the market it not at its strongest, and even though some really innovative technology (like 3D scanning) is out there, RMS remains the most reliable and accurate way to give clients the best and most consistent property measurement.
You Disserve Yourself
Competition in the real estate market has always been high and with the downturn, the stakes are higher than ever. Now is not the time to do anything that could compromise your integrity and reputation in the business. In fact, now is the time to show potential clients what makes you stand out among your competition.
If you choose to ignore the RMS process, eventually clients will question the square footage. It’s not like they won’t find out! After all, permit documents, land titles, and other paperwork that comes with a real estate transaction is part of every sale. When the numbers don’t add up across all the paperwork, suspicions arise. It only takes one or two disgruntled clients to say something on social media before your reputation is in tatters. Don’t take that chance.
You Impact the Industry
One person can have a profound effect on hundreds or even thousands of people. When you don’t use RMS measurements, you impact yourself, the reputation of the Alberta real estate industry, your clients, and every person that has to deal with the fallout of incorrect measurements. You could derail the sale of the home, which may cause financial distress for the client. You could face discipline from RECA, which could impact your future sales. The list goes on.
RMS is There for a Reason
The RMS process exists for a reason. With such a competitive industry that moves tens of thousands of residential homes every year, strict controls must be in place to safeguard fairness and cohesion across the industry. RMS is the most efficient way to ensure you are selling the home properly and clients are receiving the square footage promised. Don’t take chances by cutting corners on RMS. When you don’t use RMS Measurements, you don’t just affect your clients; you start a chain reaction that impacts many people, including yourself.
Urban Measure is a leader in providing fast, accurate RMS measurements for Realtors and property developers. Contact us today to learn more.