CREA and the Competition Bureau -recap of the agreement

Ottawa – October 25, 2010 – Message from OREB President Pierre de Varennes

The agreement will be registered on Monday October 25th with the Competition Tribunal, making it an Order of the Tribunal. To recap, the agreement:

  • Does not give the public direct access to the MLS® System or to; the Membership Pillar has not changed and the MLS® System remains a member to member service;
  • Does not require brokerages to change their business models;
  • Does not preclude Boards or CREA from having rules for the efficient operation of an MLS® System which are not contrary to the Agreement;
  • Does not impact the Compensation Pillar; and
  • Does not impact the responsibility of members to ensure the accuracy of MLS® listing content.

The Board of Directors will ensure that the Board’s MLS® Rules are in compliance with the agreement. We anticipate only a few revisions will be required, as there are no significant changes in the agreement.

Under the agreement, OREB’s MLS® System remains a member to member service designed to provide accurate and timely information critical to the delivery of professional real estate services.

OREB can proudly say that our 2,600 members compete for business every day by offering a variety of services and business models to home buyers and sellers. We are pleased this agreement lets us get back to doing what we do best.

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Peter Sardelis

Peter Sardelis

CENTURY 21 Capital Realty Inc., Brokerage*
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