What the Competition Consent Agreement Means for Nova Scotia Real Estate

October 27, 2010 – Nova Scotia:  On Sunday, October 24, 2010, members of the Canadian Real Estate Association (CREA) ratified an agreement with the Commissioner of Competition.  This Agreement brought to light the fact that people selling their home have choices in what services they want from a real estate agent.  

The Nova Scotia Association of REALTORS® has approximately 1,700 members across the province.  For years, its brokerage members have represented a variety of successful business models, providing different levels of services, in different ways, for different fees and fee structures.

 

“Nova Scotians are wise consumers,” says Karen Edwards.  “They know what they want and they know they have to do research to find a real estate brokerage that will meet their needs.  The news of this agreement helped to remind consumers that they do have choices.  Not every brokerage will offer the same level of service in the same way – it is the seller’s responsibility to do their due diligence to find the right brokerage and REALTOR® for their specific needs.”

 

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. Although the Agreement was ratified, it is up to the individual brokerages, their internal policies, and REALTORS® to determine what services and respective pricing they will offer.

 

“If a brokerage has a successful business model in place that results in high customer satisfaction and they do not wish to change it, the Agreement between CREA and the Competition Bureau will not have an effect on the way they do business,” comments Edwards.  “Other members may decide, in light of increased consumer awareness of ranges in service, to change their business model and target those sellers who want to do all the work themselves, but still want their property to appear on Canada’s most powerful real estate marketing site, REALTOR.ca.”

Ian Anderson

Ian Anderson

Affiliated Real Estate Agent
CENTURY 21 Trident Realty Ltd.
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