CREA reaches agreement in principle with Competition Commissioner
The Canadian Real Estate Association (CREA) has reached an agreement in principle with the Commissioner of Competition regarding the application before the Competition Tribunal, subject to the approval of CREA’s member boards at a Special General Meeting in St. John’s, Newfoundland on October 24, 2010.
In a statement, CREA said it has always been of the view that its rules regarding member board MLS® systems do not in any way prevent or restrict a broad range of business models. In CREA’s view, the agreement in principle reflects this reality and would, if passed, avoid unnecessary and expensive litigation proceedings at the Competition Tribunal.
“CREA has always been committed to ongoing dialogue with the Competition Bureau. This agreement is the result of extensive negotiations between CREA and the Competition Bureau,” says CREA President Georges Pahud. “Both sides gained a better understanding of their respective concerns through our discussions. We are pleased that a resolution has been reached, subject to member approval.”