$7.5 billion paid in fees to agents last year in Canada…opening up industry by offering consumers more choice will place downwards pressure on prices…
The Canadian competition bureau’s head, Melanie Aitken, said a move to sue the national real estate association in a bid to force them to open up their database will lower costs for consumers.
The realtors group, known as CREA, forces consumers who want to list their properties in their database to pay for services they don’t need, according to the Competition Bureau. Aitken is seeking to give consumers the choice to list homes with reduced fees.
Read the full article, “Aitken Says Canadian Real Estate Agent Fees May Drop on Lawsuit” at Bloomberg Businessweek (May 15, 2010).