Subject: CFG
Competition Bureau reaches agreement to protect real estate competition in the Yukon
GATINEAU, QC, April 25, 2024 /CNW/ - The Competition Bureau announced today that it has entered into a consent agreement with the Yukon Real Estate Association (YREA) to address concerns with its membership practices in the real estate sector.
A Bureau investigation found that the YREA engaged in anti-competitive conduct by adopting a requirement that certain prospective members must live in the Yukon for a year before they can become a member of the YREA.
The Bureau concluded that the YREA's conduct was contrary to the abuse of dominance provisions of the Competition Act. Implementing and enforcing a residency requirement creates barriers to new forms of competition, especially for services offering consumers choices and fee structures that differ from traditional full-service real estate brokerage services.
As part of this agreement, the YREA will not adopt or enforce residency requirements and will ensure non-discriminatory access to the market for future competitors.
The Bureau acknowledges the YREA's cooperation during its investigation.
The Bureau also recently signed a consent agreement with the Northwest Territories Association of Realtors addressing similar conduct.
"Competition in the real estate sector is of critical importance to Canadians. It stimulates innovation, lowers prices and improves the consumer experience. Protecting competition in the real estate sector remains a top priority for the Competition Bureau."
Matthew Boswell,
Commissioner of Competition
- The Yukon Real Estate Association is a trade association that represents real estate agents and salespeople in the Yukon. The association provides its members with access to the Multiple Listing Service.
- The Multiple Listing Service is used by members as part of their brokerage's services and is not accessible to the public.
- Abuse of dominance occurs when a dominant business (or group of businesses) engages in activity that stops or substantially reduces competition in a market or engages in acts with an anti-competitive purpose.
- Consent agreements generally contain remedial measures that the Competition Bureau deem appropriate to address the impact of conduct that contravenes the abuse of dominance or other provisions of the Competition Act.
- The Bureau encourages anyone who suspects an individual or a business of engaging in anti-competitive activities to report it by using its online form.
- Registered consent agreement between the Competition Bureau and the Yukon Real Estate Association
- Abuse of Dominance Enforcement Guidelines
- Abuse of dominance and the Competition Act
- Competition Bureau Statement regarding agreement to protect real estate competition in the Northwest Territories
- Information Bulletin on the Communication of Confidential Information Under the Competition Act
For general enquiries, please contact: www.competitionbureau.gc.ca
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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.
SOURCE Competition Bureau
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