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.