ajaz_eco_204_2012_2013_chapter_16_Market_Power

Sell it privately or through another web site and

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Unformatted text preview: ve off competition from for-sale-by-owner sites – called FSBOs – and other third-party sites on the Internet, when information is supposed to flow freely? MLS has reached such a critical mass it is impossible, or simply not smart, to sell your home any other way. Sell it privately or through another web site and there is a greater likelihood of missing out on potential buyers willing to pay a higher price. The MLS has grown in dominance from having just $1-billion in sales in 1960. Sales through the system climbed to $7-billion by 1976, and by 1986 had soared to $30-billion. Last year, close to $131.9-billion of residential sales were listed through MLS. The federal Competition Bureau has an open file looking into whether the MLS system has rules that violate the Competition Act. At on e point, Stephen Moranis, the former owner of Realtysellers (Ontario) Ltd. Sued the Toronto Real Estate Board (TREB) and Canadian Real Estate Association, alleging the two organizations were forcing the company to...
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