The real estate industry is a highly competitive industry. Brokers/agents and salespeople compete to secure listings, and compete to find successful buyers for transactions. At the same time, brokers/agents and salespeople co-operate on a regular basis to successfully sell real estate. The tug-of-war between co-operation and competition can create opportunities for anti-competitive activity. Sensitivity to competition law issues is a business necessity.

The competition “cure” for real estate is in the measures Brokers, agents, salespeople and Boards can take to make sure there is compliance with competition laws in their daily business. This involves a compliance program implemented in day-to-day practice by the individuals it governs.

Ignorance of the law is no excuse. Brokers and agents should institute an office compliance program, because they may be held responsible for the actions of their salespeople. They should also ensure there is monitoring of the implementation of the compliance program.

With knowledge and understanding of the laws comes the freedom to actively pursue legitimate business opportunities. There are many valuable services a REALTOR® or real estate company provides, and promotion and marketing of those services can translate into listing and selling advantages. They can also enhance the professional aspects for consumers in dealing with a REALTOR®.

Like more information about competition issues? Please contact The Canadian Real Estate Association at info@crea.ca, or 613-237-7111.

Are you confident you know competition policies? Try the on-line Compliance Test that’s included in this website.