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| Anita Merlo
Real Estate Sales Representative
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making a difference |
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| Thursday, 25 February 2010, 09:06:16 AM | | It's time to take back our industry - now. The past week or so has sent shivers through many real estate sales representatives and real estate brokerages throughout our country. "Real Estate as we know it is soon to change," so it is said.
The Competition Bureau of Canada and the Canadian Real Estate Association (CREA) have been in "discussions" over the past year in an attempt to reach some sort of understanding concerning "fair competition" amongst practitioners for the benefit of consumers.
As I understand it, the Competition Bureau believes our industry does not treat all models fairly. CREA believes we in our industry have an obligation to represent the consumer through the minefields of buying and selling real estate, and therefore cannot neglect our duty. The standard all real estate registrants follow is strong and clear. Our duties include looking after the needs of the clients we serve - period. If we fail, we are held accountable.
The Competition Bureau wants the consumer to decide what they need, notwithstanding our obligation of representation.
If you were to read the press of late, you may come to the conclusion our industry is all smoke and mirrors. It has been written, “We do very little work for big commissions.” Nothing could be further from the truth and I am saying now is the time to stand up for what we do. We are unfairly compared to the evolution of the Travel Industry. To equate the work involved in helping thousands of Canadian families yearly through the complicated process of buying and selling properties - for many the most important financial decision of their lives - with booking a week in Cuba is delusional to say the least.
I am all for regulation when it comes to protecting the consumer, however what the Competition Bureau is advocating will create many degrees of vulnerability for unknowing consumers. Opportunities will arise for unfair dealings. Many average Canadian families will find themselves faced with having to make decisions on the most important aspect of their financial health - their home - only to find they had no one to guide them.
The public must continue to have choices, however to suggest as the Competition Bureau has put forward, that the public would be better served by allowing us to waive our accountability is short sighted. Our industry needs to stand up and voice the work we do for the public. Our industry needs to take a stand and strongly urge CREA and the Competition Bureau to forge a solution to their issues which will truly benefit the consumer.
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