Oranjestad, Aruba – The Association of Aruban Realtors ( AAR) has repealed i ts Commission Guidelines following a meeting with the AFTA.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 the Guidelines 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 i ts 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 repeal the Guidelines with immediate effect. The AAR has since communicated the repeal of the Guidelines to i ts 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

The AFTA is the independent competition authority of Aruba  that  promotes  fair competition for economic growth and increased prosperity  for  individuals  and companies. The AFTA is responsible for monitoring and enforcing the  Competition Ordinance. I t may conduct investigations and, if necessary, impose fines or penalty payments in case of violations. The AFTA ensures that competition between companies is not prevented, restricted or distorted,  and  that  companies  do not  abuse  their dominant position.

For more information, please contact AFTA at [email protected] .