Oranjestad Aruba – The Association of Aruban Realtor (AAR) has repealed its Commission Guidelines following a meeting with the AFTA. These Guidelines restrict price. competition between realtors, which is prohibited under the Competition Ordinance since January 1, 2024. Repealing these Guidelines removes the restriction on price competition, which can lead to lower rates. This will benefit consumers and companies that use the services of realtors. Because of the quick repeal of Guide lines by the AAR and the short time since the entry into force of the Competition Ordinance, the AFTA has terminated its investigation into the AAR and its members.
The AFTA received signals from the market about the possible incompatibility of the Guidelines of the AAR with the Competition Ordinance. In response, the AFTA initiated an investigation and requested information from the AAR. The AAR quickly provided this information, and, after a meeting with the AFTA, it decided to repeaI the GuideIines with immediate effect. The AAR has since communicated the repeal of the Guidelines to its members.
The AFTA is pleased with the action taken by the AAR, which immediately leads to an improvement in competition among realtors that will benefit consumers and companies. Therefore, the AFTA has decided to terminate the investigation. The AFTA will continue to monitor rate developments for brokerage services.
About the AFTA
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