“We are committed as an organization to following the letter of our legal and regulatory obligations and to demonstrating that our practices and business operations reflect this commitment over time.”
For mortgage professionals, the investigation spoke directly to closing costs and borrower affordability.
Commission expenses formed part of overall transaction costs that were ultimately baked into sale prices, affecting down payments and debt loads for highly leveraged buyers.
Lessons from US and class actions north of the border
In 2024, the United States digested a landmark settlement with the National Association of Realtors (NAR), which agreed to pay US$418 million and end rules that effectively required sellers to pre‑set compensation for buyer agents on MLS systems.
That US deal could have ripple effects on Canada’s real estate sector, with analyst warnings that similar litigation here might pave the way for lower commissions and more flexibility on how buyers and sellers paid their agents.