Earlier this week, members of the Canadian Real Estate Association voted in favour of new rules that will give private sellers access to MLS – the organization’s online listing service.

Personally, I am surprised it has taken so long for the internet to have its inevitable impact on the real estate market in the same way it has revolutionized travel, banking, media, retail and other sectors.

That’s what this is all really about — not so much about fair competition.

The change may well stimulate activity as it becomes theoretically ‘easier’ to trade in real estate and, as any Realtor will confirm, EVERYBODY considers themselves an expert in real estate values or has a brother-in-law or friend who attended a real estate seminar.

Will it be good for consumers?

In theory, they may eagerly "save" the commission dollars and be distracted by Realtors offering discount services.

After a few years, I suspect the industry will evolve again.

Skilled, professional, well-connected Realtors may be able to charge appropriate fees, whether fixed rates or even hourly (like lawyers and other consultants).

Discount Realtors – with little to offer but cheaper and cheaper rates – will find themselves unable to make a living, crushed by the Walmarts of the world (literally).

One of the reasons I moved into development (perhaps a few years too early) is because my sense was that eventually real estate would go the way of media – where content is king.

Harry Stinson was one of the first Toronto developers to recognize the potential for urban condominiums, to develop residential lofts, and to convert old office and warehouse buildings into residential spaces. His current project is the Stinson School Lofts, an 1894 heritage building in Hamilton, Ont., that he is converting into stylish and affordable lofts.