COMPETITION & COMPLIANCE
The real estate industry is highly competitive; brokers, brokers of record, and salespeople compete to secure listings and to find successful buyers for transactions. At the same time, brokers, brokers of record, and salespeople co-operate on a regular basis to successfully sell real estate. The tug-of-war between co-operation and competition can create opportunities for anti-competitive activity. In order to minimize risk, sensitivity to competition law issues is a business necessity.
The CREA Real Estate Competition Guide provides an overview of the Competition Act and highlights the sections of the Act that REALTORS® should be aware of and understand. It also sets out some general guidelines to minimize the risk of violating the Competition Act and the specific steps that can be taken to promote compliance with the Act.
With knowledge and understanding of the laws comes the freedom to actively pursue legitimate business opportunities. There are many valuable services a REALTOR® or real estate company provides, and promotion and marketing of those services can translate into listing and selling advantages.
For further information about competition compliance, please visit:
https://www.realtorlink.ca/content/realtorlink/crea/en_CA/resources—compliance/legal-compliance—national-standards/compliance-resources/competition1.html (you will need to log in with your REALTOR Link® account – same as Matrix)
PRIVACY & COMPLIANCE
In the usual course of real estate transactions, REALTORS® may require personal and property information from buyers and sellers. Some of this information may be considered private. Collecting and sharing this information is an essential part of the buying and selling process. At the same time, few things are more important to individuals than their privacy. REALTORS® recognize the rights of buyers and sellers to protect and control the use of their personal information. REALTORS® are committed to using fair information practices when dealing with your personal information.
Please visit: https://www.realtorlink.ca/content/realtorlink/crea/en_CA/resources—compliance/legal-compliance—national-standards/compliance-resources/privacy.html (you will need to log in with your REALTOR Link® account – same as Matrix)
The link above contains information on the following:
- Compliance with the Personal Information Protection and Electronic Documents Act (PIPEDA);
- CREA’s National Privacy Code for REALTORS®;
- FAQ’s on Privacy;
- Model Privacy Policies for Real Estate Firms and Boards/Associations;
- Guidelines and explanations on how the 10 principles of the Code can be applied at the office level; and
- General Tips.