Here's what we know:
- Very little.
- No details.
- CREA says this deal exonerates any claims by the Competition Bureau that previous methods of managing the MLS were anti-competitive.
- Competition Bureau says consumers will be able to pay for "what they want" on a case by case basis rather than be forced to purchase a suite of services for a set commission rate - although it's unclear how this will be accomplished.
- If Victoria REALTORS® will adopt new fee-for-service business models or simply maintain their current commission-based models.
"Victoria has a diverse and competitive marketplace, it's business as usual here."If any REALTOR® out there wants to weigh in on this issue on this site, I'll be happy to post blog posts with links on your behalf. Email me, the link is in the right column. Keep in mind, we're advocates for change here, so we'd love to tell readers of HHV how they can get the best deal on real estate services.
October 25 update: CREA and Canadian Competition Bureau deal is ratified.
Full text here
Comments by Royal LePage
Comments by head of Comp. Bureau