The three pillars had said only a realtor could place a listing on MLS, only a listing realtor can act as an agent for the seller of the property and assist them during the entire time of the listing contract and a listing realtor must agree to pay the co-operating realtor compensation that must be more than zero. The Financial Post
BREAKING — CREA votes unanimously for rule changes
March 22, 2010
In response to challenges from the competition bureau, agents have voted unanimously to change some “monopolistic” rules which would allow more publicly available access to the MLS system.
The changes to the MLS system were proposed by CREA within a week of the Competition Bureau filing a complaint.
The change will have an effect on the second pillar which dictates that the selling agent must act as the agent “throughout the entire time” of a listing contract. In addition, they removed the stipulation which disallowed listing a property without providing further service.
Negotiations have been ongoing since October 2009 between CREA and the Competition Bureau. One of the main points of contention: whether local boards should be allowed to initiate their own regulations of their realtors. These fragmented regulations would make it far more difficult for the Competition Bureau to monitor CREA in the future.