Canada’s issue could become issue in the U.S.

Realtors from across Canada have voted to shelve proposed changes to the Multiple Listing Service that many agents argued could have increased the fees consumers pay for some services.

Delegates to a special meeting of the Canadian Real Estate Association, or CREA, voted overwhelmingly yesterday to withdraw the proposed changes and seek further discussion and "input from members." A report on those discussions will be made next March during the association’s annual meeting.

The proposals would have altered the rules governing how agents list homes on the MLS system, a 50-year-old service that allows agents, buyers and sellers to review virtually every home for sale in a certain market. CREA, which represents about 86,000 real estate agents, owns the MLS trademark.

Many full-service brokers argued that the MLS system is being flooded by houses from discount brokers, who generally charge far lower commissions or flat fees for their services. They said the changes were needed to protect the integrity of the service.

We realize flat fee MLS services are controversial. Real estate agents don’t like us, but that doesn’t mean we’re bad. We are committed to providing a high value service to home sellers and home buyers at an affordable price. IHS Realty believes the market should determine the conditions, not politics.

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