List your property on MLS for one Canadian Loonie

Nov. 3, 2010 - PRLog -- St. John's NL | www.WorldWealthBuilders.com |

The President of the Canadian Real Estate Association (CREA), Georges Pahud,  welcomed the decision of delegates to its Special General Meeting to approve CREA's consent agreement with the Commissioner of Competition regarding the case before the Competition Tribunal on October 24, 2010.

For years it was real estate brokers' dirty little secret: the listing of properties for a fee on MLS the database used in the vast majority of home sales in Canada.

"The landscape of  marketing Canadian real estate is changing now that Home sellers are becoming more willing to do the job themselves to save commission costs" say Navtaj Chandhoke, founder of Professional Real Estate Investors Group (PREIG) Canada.

The Canadian Real Estate Association ratified on October 24, 2010, a 10-year agreement with the federal Competition Bureau that will allow home-sellers to pay for only the services they want from their real estate agents.

That means a seller can hire a real estate agent to post a property on the Multiple Listing Service and carry out the rest, or part of, the selling process,

The agreement was approved by CREA's Board of Directors and the Commissioner of Competition on September 30th and was in escrow pending vote. It confirms CREA's commitment to a competitive real estate services market.

The rules have now ‘changed'. Canadian home sellers will still have to retain the services of a Realtor to list on th MLS but will be able to do so for a flat fee. The CREA has agreed not to deny or discriminate against Realtor who offer only posting services. As far as I can tell, this is nothing new – discount brokers have been listing properties on the MLS for years?


The Commissioner and CREA have agreed that its rules as well as those of its members should not deny or discriminate against REALTORS® wishing to offer mere posting services. CREA does not believe that such rules exist today, but if they do, they must be repealed or Boards will lose their license to operate under the MLS® trademarks. Board MLS® Systems remain a member to member service designed to provide accurate and timely information critical to the delivery of professional real estate services to Canadians.

Real estate agents have always been allowed to be innovative and offer a variety of pricing options.  A listing agreement can be arranged based on 5, 6 or 7% commission. There is no price-fixing in commission fees, the rate is related to the value of the service. You can also charge 1% or NOTHING, if you like to work for free.

There is a listing on the Multiple Listing Service,  which has been on the market for 89 days, before this landmark deal was reached. The commission offered to the Co-operating Broker (the one who brings the buyer) is $1. The remarks to Brokers is as follows :

The Seller Is Selling Privately And Will Negotiate Directly With Cooperating Broker Under Guidance Of His Lawyer. All Appointments And Offers Are To Be Arranged Directly With The Seller

So there you have it folks! Innovative pricing, one Canadian loonie commission, and someone who is selling privately and is listed on the MLS®. Welcome to creative marketing your home on MLS, Congratulations!”


CREA believes the agreement reflects both current practices and intent regarding posting to Board MLS® Systems. Buying and selling homes is an incredibly competitive business, with 100,000 REALTORS® working through thousands of brokerages. Business models are diverse and CREA members offer a variety of services.

MLS® Systems are co-operative marketing systems used only by Canada's real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada's largest single-industry trade Associations, representing more than 100,000 REALTORS® working through more than 100 real estate Boards and Associations.

When you hire a REALTOR® this is what you get, a licensed professional working in your interests, with access to the most accurate and up-to-date information about home buying and selling.

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