Real Estate Professional forum is the place for positive industry interaction and welcomes your professional and informed opinion.

TREB appealing decision

Notify me of new replies via email
Real Estate Professional | 13 Jun 2016, 08:15 AM Agree 0
The Toronto Real Estate Board has been mum since the decision was passed by the Competition Tribunal that will require it to open up its sales data, but that is because the matter is still before the courts
  • Larue | 13 Jun 2016, 10:39 AM Agree 0
    Years back when talk of this started - I was at my usual Saturday morning soccer game for the kids... on the sideline with the other parents. I took the opportunity to ask some parents (homeowners) how they would feel about the information regarding their home purchase or sale being made public prior to the sale completing.... The feedback was consistent - NO. I think it is important that we keep the clients wishes in mind with this discussion.
  • | 13 Jun 2016, 10:52 AM Agree 0
    Seems as though the privacy act means nothing to the Competition Bureau, it's not an issue of Treb withholding the info, it falls under the Privacy Act protecting individual s.
  • Martin | 13 Jun 2016, 11:20 AM Agree 0
    The Privacy Act should overrule the competition bureau... This is very private data and has far reaching effects than just allowing a FSBO to have comparables.

    Further, it is important to note that information in untrained hands can lead to other problems. As a trained professional we are qualified to interpret the information, this comes with training and experience, something the average home Seller/Buyer can't possibly have when they only Buy and Sell a few times in their lives.

    Most of the FSBO homes I come across are either too high in price, too low in price or they are trying to hide a problem with the home. What a Buyer often doesn't understand and the FSBO companies don't want the Buyer to know is that if a person is selling without an agent and buyer is buying without an agent why would you pay full price, a Buyer should negotiate the amount of commission off the asking price.
  • AMPM | 13 Jun 2016, 11:37 AM Agree 0
    As money laundering is not at risk through private sales as not subject to FINTRAC regulations like MLS sales with an untrained and unpaid realtor federal police force, smart terrorist with laundry money through private sales.
  • Gord | 13 Jun 2016, 11:41 AM Agree 0
    If this stands, I think the Competition Bureau should then force Coke to offer Pepsi or small Companies its exact ingredients for its products on its public website.
  • Don D | 13 Jun 2016, 03:14 PM Agree 0
    Let the seller decide, and include his decision in the listing contract. Does he want the world to know what he got for his house, or would he just as soon keep it as quiet as possible. What is the benefit to him of allowing everyone to know??
  • andy | 13 Jun 2016, 04:49 PM Agree 0
    I agree with Don D. At the time of the listing, the seller can choose to not to have the sale price disclosed on the mls system. Initial the deletion in the listing contract after clearly explaining the merits of deletion,. I am sure that we as realtors can easily confirm what the selling price was from the listing realtor - its called texting, or email etc. Where is the privacy act in all this.? Surely, it can trump the Competition Tribunal in its cavalier attitude about data disclosure.
  • Gary Little | 13 Jun 2016, 11:11 PM Agree 0
    But... but... the listing Realtor would then be invading the seller's privacy by texting the sale price to any other Realtor that asked for it. He could lose his or her license. Right?
  • jeff | 14 Jun 2016, 12:17 AM Agree 0
    The value to the licenced agent in having the sold data of similar homes is to be able to assist a prospective seller in determining a correct listing and sell price ..we are not going to call and bug a bunch of agents from different companies to inquire about their past sales..

    Somehow the data needs to be in the hands of bonfide agents working with bonfide buyers and sellers. That's what we pay our dues for is to support and maintain our data base.

    Unfortunately the virtual offices and others that just want to post everything on the net for everyone will question what is a bonfide buyer or seller. Everyone in the phone book?

  • Barbara D. | 14 Jun 2016, 10:18 AM Agree 0
    Homeowners and "general public", (whoever you are), beware. If this sets a winning precedent for the Competition Bureau, "general public" financial/banking, and a whole slew of other private information could be next! What remains under the Privacy Act anymore then?!
    Barbara D.
  • Al | 14 Jun 2016, 09:15 PM Agree 0
    The public can get all sold data like sale price at the land office for a fee of I believe $20. Any request to TREB for sold data should have to pay $20 per request per property. If the government can charge a fee to share that data so should TREB be allowed to.
Post a reply