Competition Bureau's Challenge Could Be the Start

Consumers and real estate agents alike may have to open their minds to a new way of doing things in real estate.

According to a press release in Ottawa on February 8, 2010, "The Commissioner of Competition has determined that CREA's rules restrict the ability of consumers to choose the real estate services they want, forcing them to pay for services they do not need. The rules also prevent real estate agents from offering more innovative service and pricing options to consumers. The Commissioner's application to the Competition Tribunal seeks to strike down these anti-competitive rules."

Read the full press release here:

http://competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/03196.html

What does this mean?

The short of it is, that the Competition Bureau feels that consumers should not have to agree to pay for the full range of services provided by real estate agents when they list their house, if all they want to do is list on MLS. Other services will need to be broken down as well, so consumers can pick and choose what they want an agent to do for them. And in turn, those working in real estate should be able to charge fees relating to only the services their clients want to use.

So, here we are. At the dawn of change.

If these changes come to be, we will have to start changing our business models. Some may see it as a door opening to an exciting new way to do business; others will see it as a threat to their existing way of life.

How do you see it?

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