TREB data to open up

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The competition tribunal has ordered the Toronto Real Estate Board to open its data up to the public.

"I welcome today’s order by the Competition Tribunal requiring the Toronto Real Estate Board to permit member agents to use and display critical data on virtual office websites,” John Pecman, commissioner of competition, said. “The Bureau remains focused on ensuring that consumers benefit from innovation and competition in the provision of real estate services."

An order issued by the Competition Tribunal will require TREB to remove restrictions on sold data that its agents have access to.

“TREB’s member agents can use the data in innovative ways to offer consumers the convenience of data‑driven insights into home sales prices and trends via the web and to improve the efficiency and quality of their services,” the Competition Bureau said in a release. “The order follows the Tribunal’s ruling in favour of the Commissioner of Competition in April, where it concluded that TREB ‎has abused its dominant position in the Toronto residential real estate services market, restricting the ability of its member realtors to offer innovative services over the internet.”

TREB plans to appeal the decision.
  • A concerned Realtor on 2016-06-06 4:00:58 PM

    What about he publics right to privacy? Also a deal is never done until it is closed bu the lawyers. If the public knows house sales before closings the sellers will lose in the end.

  • Dave on 2016-06-06 5:57:24 PM


    What about the publics right to housing sales info and important data? Just like the U.S. has now on zillow and other websites. You dont hear realtors down there complaining like the wussies and wimp realtors in Canada.

    Realtor cartels have been hiding and skewing info for years, just like the sold over asking BS when the listing was pulled 5 times before at higher asking prices. What a joke.

  • Evan on 2016-06-07 10:52:53 AM

    They are not releasing confidential client information, so there is no breach of confidentiality. Also, it is the realtor that reports when a home sale has occurred... so if the information hit the reporting prior to the actual closing, wouldn't that be the realtors fault?

  • Diana Butler on 2016-06-12 3:21:53 PM

    Evan, it would not be the realtors fault as reporting is processed into the system at each stage of the transaction and there is a time between a house being reported as sold vs closed. For example, a house may sell in May but the close date/Moving date is not until July. And as the old saying goes, it ain't over till the fat lady sings and the house is actually closed.

    At any rate, I don't have a concern with data being available, the risk is not in the data, the risk is in its interpretation and it takes an educated and seasoned person to understand how all the variables come together to determine true value. For example, values are impacted by more than just recent solds - how about recent expired listings and days on market, where the buyers are coming from (ie sudden infux of foreign buyers), inventory levels etc...

  • Wishpad on 2016-06-21 12:07:16 PM

    Yes, as Diana says, the *true value* of a property involves a confluence of variables much greater than the sold prices of similar listings.

    Which is why we're building a search engine that will allow users to determine the *real value* of a home based on a broad list of factors including but not limited to gentrification forecasts, commercial activity, permits & licenses, trended crime statistics, trended school quality, transit & rail projects, horticultural & greenspace mapping, and so forth. We're modelling the data in such a way that prospective buyers will be able to find listings that are a perfect fit for their values, lifestyles, aesthetic preferences and financial goals.

    And we're excited to partner with realtors who want to work with empowered clients who are too well-informed to get suckered into insane bidding wars.

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