BrokerageIndustry News

Canada questions real estate competition

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CORRECTION: This article contained errors in describing real estate rules and real estate law in Canada. The Canadian Real Estate Association has a rule providing that "The listing Realtor shall be available to provide professional advice and counsel the seller on all offers and counteroffers unless otherwise directed by the seller in writing." Pierre Beauchamp, chief executive officer for CREA, said in a statement that the association has not seen anyone "point to anything in CREA's rules, regulations or policies which could be considered a 'restriction' " on real estate companies that charge a flat fee, and that CREA's rules "do not establish or affect legal rights" in real estate transactions. Inman News regrets the errors. In March 2007 the Canadian Competition Bureau, the country's equivalent of the U.S. Federal Trade Commission and U.S. Justice Department's Antitrust Division, met with limited-service real estate brokers in the U.S. The meetings ...