For Sale By Owner

The Canadian Competition Bureau (Canada’s version of the U.S. Federal Trade Commission) announced today that it will challenge rules imposed by the Canadian Real Estate Association (CREA) that limit consumer choice and prevent innovation in the market for residential real estate services. CREA’s rules have so far prevented the establishment of entry only MLS listing firms that have proliferated throughout the United States and which help lower costs for consumers seeking to sell their homes. For instance, CREA’s rules require that in order for a consumer to list a property in the MLS they must also purchase contract negotiation services. Melanie Aitken, Commissioner of Competition said, “Consumers should be able to choose which services they want to buy in order to facilitate that transaction, including lower-cost options. While the Bureau would have preferred to resolve this matter amicably, CREA’s leadership was unwilling to agree to changes that would have opened up competition, and offered options for consumers and real estate agents.”

For more information, visit http://competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/03196.html