Monday, March 22, 2010

Competition Bureau VS MLS - What each side is doing




Canadian Real Estate Association (CREA) feel they've bent over backwards by offering the following:

- Giving clients access to market their property on MLS without having to hire an agent for the entire period of time the home is listed.
- The individual real estate boards can make their own rules how consumers can list using the MLS

The Competition Bureau says this is not good enough, they want:
- Real estate agents to give consumer more options when selling their home for clients
- A uniform strategy across all boards across Canada (easier to monitor and police)
- More options to sellers when having a buyers agent approach them with clients


The Competition Bureau is an independent law enforcement agency that contributes to the prosperity of Canadians by protecting and promoting competitive markets and enabling informed consumer choice.

Next step, it looks like the Competition Bureau will take CREA to the Competition Tribunal to come to some sort of resolution


My view: 50/50

On one had, there are already so many crappy agents out there who barely know to write a listing, how much worse will it come when you get non-professional people preparing listings and handling negotiations.

On the other hand, it does make things cheaper for me when I decide to sell a property.

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