GATINEAU – 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