Many of my clients have been following this as it has been widely reported in the media.  This afternoon, we received an update from CREA regarding the proposed agreement.  In it`s simplest form, the MLS will remain `Member-to-Member`` and the general public will have access, as always, via their chosen Realtor.  What will be made clearer to the public, is that every Realtor Brokerage has a right to their own business model.  That means is someone only wants to have their property listed on the MLS system with no further services or obligations from the Realtor, those business models could be available.  The services I offer my clients will remain unchanged.  With over 20 years of experience marketing homes in every price category, I am certain that most people will continue to hire full service Realtors like myself in order to get the best price, in the fastest time, with as few inconveniences to thier family as possible.  I will continue to listen to my clients needs - and guide them step by step though the process of selling.  Cheers, Wendy


An update from CREA on the Competition Bureau

Georges Pahud, President of the Canadian Real Estate Association (CREA), sent the following update, today, related to the proposed agreement with the Competition Bureau:

Last Thursday, CREA’s Board of Directors approved a settlement with the Competition Bureau, subject to member Boards/Associations approval at a special general meeting (SGM), which will be held in St. John’s, Newfoundland, on October 24.

Since then, CREA and its lawyers held their first in a series of meetings with the leadership of Boards and Associations in Canada. More meetings will take place before the SGM.

Typically, when an agreement is reached between two litigants, the deal is complete once it is signed by both parties and filed with the court. In this case, the agreement with the Bureau will only be final if member Boards/Associations vote in favour at the SGM. In the event the agreement is not ratified, the litigation would continue its course with Tribunal hearings beginning in April.

For these reasons, CREA says it cannot publicly disclose the proposed agreement. However, it has started and will continue, where practical in the short time between now and the SGM, with detailed presentations to Boards and Associations regarding all elements of the agreement. In the meantime, CREA says it is critically important not to publicly divulge details, since the agreement is not final and the litigation continues at least until the vote in St. John’s.

While the CREA leadership will only discuss specifics in individual meetings with Boards and Associations, they have been correcting, and will continue to correct, factually inaccurate reporting in the media.

For example, CREA says the agreement does not grant public access to the MLS® System; it remains a member to member service. Moreover, it does not require brokerages to change their business models. The agreement specifies that Boards and Associations cannot prevent or discriminate against mere posting business models. CREA has always maintained its rules do no such thing.