Monday, March 29, 2010

Competition bureau accusations 'misconceived', realtors say

A court challenge by the Canadian Competition Bureau accusing the Canadian Real Estate Association of being anti-competitive is "fundamentally misconceived," and should be dismissed, say lawyers for the organization.

"There is vibrant and vigorous competition amongst real estate agents and brokers for the supply of residential real estate brokerage services," CREA lawyer Katherine Kay stated in a 17 page response to allegations by the bureau filed on Friday. "Canadian consumers have not been denied the benefits of competition."

The case is to be heard before the federal Competition Tribunal, which has the power to administer severe administrative or monetary penalties. Talks have broken down between the two sides, as the stage seems set for an ugly battle between organized real estate and the Competition Bureau, which wants lower prices for consumers.

Published March 27, 2010
Tony Wong
Business Reporter

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