Real estate law change helps home buyers and Canadian housing market

 House for sale Pictures, Images and Photos

Until this past Sunday, the only official game in town to list or view a listing for a home for sale in Canada was through the MLS (Multiple Listing Service). This monopoly was accompanied with unfair regulations that allowed the industry to make the work of real estate agents an all or nothing system. This meant that often times Canadians paid more than they otherwise would have.

Well, this is no longer the case. The rules have changed and now the MLS will have to face some competition in the market. Competition in the market is always good for consumers and society and this industry is no different. Also, Canadians will now have the ability to choose which services they want the real estate agent to perform. They have the option to save those real estate agent fees by doing some of the work themselves.

This law change, along with the fairly recent law change allowing for real competition in the cell phone carrier industry are two very good steps that the Canadian government has made on behalf of the citizens. Additionally, this law change reduces the cost for buying a home and this can provide a boost to the housing market in Canada. It is a great time for a major industry to have a boost as the Canadian economy has been sluggish lately and can use a good jolt. It remains to be seen exactly how much, if at all this law change will have on the industry or greater economy, but it more than likely can do no harm to it. Overall, this is good news for all Canadians… except maybe real estate agents.