Competition bureau aims to make property listings cheaper

Competition bureau aims to make property listings cheaper

The Competition Bureau says today it will try to make it cheaper for sellers to list their homes on the Multiple Listings Service (MLS).

Currently consumers are forced to pay for services on the MLS site imposed by the Canadian Real Estate Association they may not want or need, says the bureau.

"Consumers should be able to choose which services they want to buy in order to facilitate that transaction, including lower-cost options," says Melanie Aitken, Commissioner of Competition.

Before listing on the MLS system, which accounts for the vast majority of real estate transactions in Canada, agents must agree to comply with the Canadian Real Estate Associations restrictions.

For example, the Competition Bureau says agents are prohibited under CREA's rules from offering consumers the option of simply paying a fee for an agent to list a home on the MLS system. Instead, all consumers looking to list a property must purchase a pre-determined set of additional services from an agent, such as presentation of offers and negotiation of a final deal.

 

13 Comments
  • Finn Larsen managing broker 2010-02-09 9:52:06 AM
    If an agent list on MLS or exclusive that agent and their company become responsible for the represenaton of the property, The laws relating to represenation then must be rewritten , what happens to agency , the competition bureau has not thought this out very throughly. Is it not the compettition buraues mandate to ensure that no controls and unfair business practices occur? They are trying to legislate unfair business practices. It is still up to the agency what is charged , included not included. They are disallusioned that the listings will become cheaper, MLS is only a small fee for listings.What is their next mandate?, to tell the listing agentcy what can be charged? If the consumer does not want MLS then go exclusive Period.With the immense options of the internet MLS is now only a small part of marketing. May God Keep Our Land Strong and Free
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  • broker 2010-02-09 11:30:24 AM
    this is great, hope they win, yes you can list a with a discount agency but the realtors boycott the listing. Most realtors throw the listing on mls and thats it and because the market has been good are able to make quick money,very few actually earn their keep. Realtors shouldnt be so concerned what the Bureau is doing as to what Google is doing, the market will force this even if the bureau doesnt.
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  • Paul Burns 2010-02-09 12:44:26 PM
    Costsd will not come down. However, now there will be less assurances that they are selling a fair market value. Of course the lawyers and the appraisers will love this as they will get that portion of the REALTORs fees. Then the various on-line and off line marketing sourses will get the rest. Let the buyer, and the lender, beware!!
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