Doors opening to discount brokers?

[digitalis]

This is an interesting article I found this morning. It looks like the Competition Bureau doesn't like the way CREA is conducting some business. Should be interesting to see the results in time.


http://www.yourhome.ca/homes/newsfeatures/article/719628--watchdog-opens-door-to-lower-realty-costs



Watchdog opens door to lower realty costs
November 2, 2009
Tony Wong

Canadians in the housing market will pay less in realty commissions and fees if the federal Competition Bureau has its way.

In a landmark investigation, the bureau has concluded the Canadian Real Estate Association has anti-competitive rules and must change its ways, according to documents obtained by the Star.

Details of a settlement have yet to be decided, but the bureau's findings are expected to have a profound impact on the real estate industry – by permitting more innovative discount brokers into the market while allowing sellers to list their properties less expensively on the Multiple Listing Service.


See link for the rest of the article.

 

[simuls]

It's about time. Realty fees are excessively high for the amount of work done and the amount of education necessary. We've discussed this in other threads and I agree that it will be interesting to see what other forms of RE representation will come out of this.