MLS has taken a hold on the canadian real estate market, and if your property is not on MLS, then it is not going to be sold. In the past, real estate agents sold houses; however, now houses are bought and sold through MLS marketing. MLS cuts deals with brokerages to allow only certain firms properties to appear on MLS. If you don’t have a deal with MLS, then you can’t post your properties on the site.
However, once a company has a monopoly on a market like MLS, then they can’t discriminate who can use the service and who cannot. The reason that they can’t cut off companies because they won’t pay the high subscription fees is because it will reduce the amount of competition and create high barriers of entry.
What does this mean to real estate agents? A more competitive market. With increased competition, this will generally cause a reduction in realtor fees. Will this be good or bad for the market? Will this cause the quality of realtors to decrease? What will be the long-lasting impacts of these changes?
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