Blog by Ken Morris

<< back to article list

Competition Bureau v Realtors

The Federal Competition Bureau is at it again, they've ruled that the current Real Estate climate is non competitive and have ordered changes. The Canadian Real Estate Association disagrees and the fight is on... But is this battle really about?


Competition Bureau vs Realtors Blog Transcription

Hey there! Rob Reynar here, just checking in. A really big issue at hand right now, it's in relation to the Federal Competition Bureau and the Canadian Real Estate Association and therefore, realtors. The Bureau has made a ruling that we are non-competitive in some forms of access, is what they're pointing to. I wont get into the nitty gritty, I will post information to the website if you wanna get down to the nuts and bolts of it. I also have to be very careful about what I say because our brokerage has recommended that the Calgary Real Estate Board speak on our behalf and that we not speak as individual realtors on the issue. So, I am being temperate a little bit here more so than I would because this issue really cuts to the quick of what it is to be a realtor and I think the frustrating part is, is that the media has already in the last couple of days and you will see in the future peg this as an issue of commission. That because the Competition Bureau says we're anti-competitive in some forms of access, that will open for discount brokerages and lower real estate fees and I've already seen the comments on blogs. It's an easy hit, "Ah you know, my neighbor's a stay-at-home mom and she makes more than I do just for selling a couple of houses every year." Well, you know what? Yeah that happens and you know what? If you wanna do that, go get your real estate license because frankly it's not that hard. If you're choosing your realtor based on their commission rate, that's your call, you can do that. You can go get a guy who's gonna list your house for five hundred bucks, you have to determine whether that service level is satisfactory for you. I'm not saying you can't sell your house on your own, I'm just saying you shouldn't. I believe in our profession, I believe in what we do and we have a fee for service structure, if you're not happy with it, find someone that you're happy with, if the fee is what's important to you. So, the Competition Bureau ruling in my mind has nothing to do with what realtors make and I would like the media to stop portraying it that way and I wish I could say more about the ruling itself and maybe I can in days to come. But it is, let me just say this, I'm being censured for a reason, so that should give you a picture of how big this issue is and this will be a big fight and will probably redefine what it is to be a realtor. Love to hear your comments on this, R-E-Y-N-A-R, Buh bye!

This is a transcription of the latest Video Blog from . If for any reason there is a discrepancy between this text and the Video Blog, the Blog is deemed accurate.

Greg Williamson's Mortgage Blog