Consumers are demanding a greater selection of service and pricing options when buying or selling their homes
Canada's Competition Bureau is suing the nation's greatest real estate panel for anti-competitive actions that the institution says makes the expenses of buying and selling dwellings artificially high.
The institution declares that anti-competitive measures are denying consumer selection and the ability of real estate brokers to introduce inventive real estate brokerage solutions through the net, which may bring about more affordable prices for individuals.
Consumers are demanding a greater selection of service and pricing options when buying or selling their homes, and many agents are eager to accommodate them, Yet leadership continues to impose anti-competitive restrictions on its members that deny consumer choice and stifle innovation.
The system that Whistler realtors have access to is much more detailed than the one open to the public and contains data about previous listing and sale prices, historical prices for comparable properties in the area, and the amount of time a property has been on the market. It also contains demographic information on crime and traffic statistics, and even local hospitals and schools.
Restricting access means realtors can't set up what are known as virtual office websites, which would allow customers to search a full inventory of up-to-date listings before going to an open house or touring a home.
That, in turn, would allow customers to be more selective and focused, and agents to spend less time trying to find an appropriate property for a specific customer.
The agency has taken numerous steps to empower realtors in their use of the internet in assisting clients. When the bureau identifies anti-competitive behavior, the first preference is always to reach an agreement that fully resolve concerns.
The dispute is the latest salvo in a long-running dispute between the competition watchdog and the real estate industry. Last year, the consumer watchdog complained that realtors were restricting access to the MLS system, the source of more than 90 per cent of all home sales.
Buyers and some realtors wanted the ability to opt out of certain realtor services, and simply pay to have their home listed on MLS. That dispute eventually ended before it reached the tribunal phase, the result of which was that sellers can now list on the proprietary MLS system for a flat rate fee.
The institution declares that anti-competitive measures are denying consumer selection and the ability of real estate brokers to introduce inventive real estate brokerage solutions through the net, which may bring about more affordable prices for individuals.
Consumers are demanding a greater selection of service and pricing options when buying or selling their homes, and many agents are eager to accommodate them, Yet leadership continues to impose anti-competitive restrictions on its members that deny consumer choice and stifle innovation.
The system that Whistler realtors have access to is much more detailed than the one open to the public and contains data about previous listing and sale prices, historical prices for comparable properties in the area, and the amount of time a property has been on the market. It also contains demographic information on crime and traffic statistics, and even local hospitals and schools.
Restricting access means realtors can't set up what are known as virtual office websites, which would allow customers to search a full inventory of up-to-date listings before going to an open house or touring a home.
That, in turn, would allow customers to be more selective and focused, and agents to spend less time trying to find an appropriate property for a specific customer.
The agency has taken numerous steps to empower realtors in their use of the internet in assisting clients. When the bureau identifies anti-competitive behavior, the first preference is always to reach an agreement that fully resolve concerns.
The dispute is the latest salvo in a long-running dispute between the competition watchdog and the real estate industry. Last year, the consumer watchdog complained that realtors were restricting access to the MLS system, the source of more than 90 per cent of all home sales.
Buyers and some realtors wanted the ability to opt out of certain realtor services, and simply pay to have their home listed on MLS. That dispute eventually ended before it reached the tribunal phase, the result of which was that sellers can now list on the proprietary MLS system for a flat rate fee.
About the Author:
This article has been shared John Garrad Cole. You can find John by searching Whistler real estate or real estate in Whistler.