Some quick-footed agents now charging far less to list properties, a move that threatens to split the real estate industry into two fiercely competing camps…
(Source: The Globe and Mail)
Just two weeks after the real estate industry changed its controversial rules, some quick-footed agents have jumped in with markedly lower fees, drawing the wrath of competitors in the process.
These agents are operating amid what some see as confusion in the industry, created by the Canadian Real Estate Association’s heated dispute with the Competition Bureau. Alleging anti-competitive practices involving the body’s Multiple Listing Service (MLS), the bureau is taking the association to the Competition Tribunal even after CREA altered its MLS rules.
The new rules allow agents to post listings on the MLS without seeing a deal through to its end. Before then, anyone who wanted to list a property needed an agent to see through the entire process and pay a commission that could run into the tens of thousands of dollars.
Read the full article, “Discount days hit property sellers’ market” in the Globe and Mail (April 9, 2010).