BrokerageIndustry News

Canadian antitrust officials meet with U.S. real estate brokers

Competition Bureau examines impacts of industry restrictions

Officers for a government agency in Canada are talking and meeting with limited-service brokers in the United States to gauge the potential effects of real estate restrictions in Canada. The Canadian Competition Bureau, that nation's equivalent of the U.S. Justice Department's Antitrust Division and Federal Trade Commission, has contacted several members of the American Real Estate Broker Alliance, a group of flat-fee real estate brokers that formed last year. The group advocates against state mandates that require a specific level of real estate services even if consumers do not want or need all of those services, among its other priority issues. Real estate rules passed and proposed by the Canadian Real Estate Association, a trade group with about 88,000 Realtor members that is akin to the National Association of Realtors trade group in the United States, have drawn criticism from the Competition Bureau, and CREA members are meeting March 24 to consider approval of a list of items th...