“The Toronto Real Estate Board has filed a Notice of Appeal in response to the Competition Tribunal's recent order decision in the matter of Competition Bureau vs. TREB,” John DiMichele, Toronto Real Estate Board CEO, told REP via email. “TREB is in receipt of the Tribunal's order and is examining the decision with its legal counsel prior to making any public comments as the matter is still before the courts.”
Last week, the Competition Tribunal ordered the Toronto Real Estate Board to open its data up to the public.
The news was announced by the Competition Bureau, which obviously viewed the ruling as a victory.
"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.
However, it appears the saga is far from over; and TREB has decided not to take the decision lying down.
The Toronto Real Estate Board has been mum since the decision was passed by the Competition Tribunal, which will require it to open up its sales data, but that is because the matter is still before the courts.