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New ruling lets home sellers choose realtor services

VANCOUVER (NEWS1130) – A deal reached by the Canadian Real Estate Association and the Federal Competition Bureau on Sunday will be welcome news for those planning to sell their homes.

After months of negotiating, consumers will now be able to pick and choose what services they want from a realtor.

Realtor Mayur Arora from Omax Realty says it’s a pretty big change to the system that will give home sellers more flexibility. “People in general will be able to say, okay, I want to be on MLS, that’s the biggest thing that I want from you as a realtor. I can show my own home.”

He compares the changes to going to a restaurant. “Before today, people would go into a restaurant and they would be given a full meal. They might not want everything, and they might want to say, ‘Ok, I’ve already had my appetizer. But I just came here for dinner.'”

He says real estate agents making hundreds of thousands of dollars may not like it quite as much. “Realtors that are making that [money] may not necessarily think it’s the best thing that has happened. I mean, what are you taking the $30,000 to sell my house for?”

The agreement which comes into effect on Monday will be in place for the next ten years.