The Competition Bureau says it's obtained a court order as part of an investigation into potential anti-competitive conduct by the Canadian Real Estate Association.
The Competition Bureau says it's obtained a court order as part of an investigation into potential anti-competitive conduct by the Canadian Real Estate Association.
The court order requires CREA to produce records and information relevant to the investigation, the bureau said, adding the investigation is ongoing and there is no conclusion of wrongdoing at this time.The association said it's co-operating with the bureau's investigation. The documents note CREA owns the MLS and Multiple Listing Service trademarks and owns and operates realtor.ca, which real estate groups use to list homes for sale.
They allege these rules reduce incentives for buyers' agents to offer lower commissions because if buyers aren't directly paying their agent, they may be less likely to select an agent based on their commission rate. The policy requires residential real estate listings to be added to an MLS system within three days of them being publicly marketed, such as through flyers, yard signs or online promotions.
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