The COMPAS business panel of CEOs and business leaders backs the Competition Commissioner’s efforts to opening up the MLS but with some significant reservations. Majorities favour allowing sellers to list on the MLS without having to use a listing agent and without having to go through a realtor. A majority believes that “the Competition Commissioner’s intervention is a perfect example of protecting the right of Canadians to offer or receive more choice of services and prices.” Majorities do not perceive the Commissioner as threatening freedom to own property or as being a “perfect example of oppressive government.”

Some concern is expressed about fees, perceived as out of step with the value of real estate services and hence the catalyst for breaking up the MLS service. As one panelist put it, “[realtors] are killing the golden goose.” Without concern about real estate fees, support for the Commissioner might well be much lower. It is almost as if realtors would have had a lot more support if they had made successful efforts to persuade stakeholders of the fairness of their fees.

Some panelists convey concern about interference with the property rights of MLS owner, the Canadian Real Estate Association. “It's like owning a restaurant,” volunteered one respondent, “and having to have your competitor’s menu available for your patrons.” Some respondents also volunteer concern that anti-oligopolistic practices should apply to all sectors of the economy equally and not be focused on realtors.

These are the key findings from this past week’s Internet survey of CEOs and business leaders on the COMPAS panel. The weekly business survey is undertaken for Canadian Business magazine under sponsorship of BDO Dunwoody LLP.

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