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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.
With a membership of more than 96,000, Ottawa-based CREA is the largest real estate organization in Canada and represents the majority of the nation's realtors.
http://www.yourhome.ca/homes/newsfeatures/article/719628--real-estate-fees-could-be-slashed
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.
With a membership of more than 96,000, Ottawa-based CREA is the largest real estate organization in Canada and represents the majority of the nation's realtors.
http://www.yourhome.ca/homes/newsfeatures/article/719628--real-estate-fees-could-be-slashed
