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Mortgage Broker News | 06 Jun 2016, 11:21 AM Agree 0
The competition tribunal has ordered the Toronto Real Estate Board to open its data up to the public
  • A concerned Realtor | 06 Jun 2016, 04:00 PM Agree 0
    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 | 06 Jun 2016, 05:57 PM Agree 0

    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 | 07 Jun 2016, 10:52 AM Agree 0
    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 | 12 Jun 2016, 03:21 PM Agree 0
    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 | 21 Jun 2016, 12:07 PM Agree 0
    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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