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TREB data to open up

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Real Estate Professional | 06 Jun 2016, 11:44 AM Agree 0
The competition tribunal has ordered the Toronto Real Estate Board to open its data up to the public
  • Ron Hauth | 06 Jun 2016, 12:21 PM Agree 0
    I think Doctors should be have to release all their information to the public, so they can self medicate and write their own prescriptions too.

    Service and parts manuals for pretty well everything are available on line. I've seen someone repair attempt to repair his own outboard using an on line manual. Bought $100.00 of parts and off he went. Came back the next day, had screwed up most of the new parts, so had to buy them again, had also screwed up a few other things too. Had to pay $200.00 for parts, then $300.00 instead of $100.00 for parts and $100.00 for labour for someone to figure out what he had screwed up, then make it right. Do it yourself. $500.00 cost plus 3 trips to the marina. Hire a professional ..... $200.00, plus 2 trips to the marina or wait for an hour. Who won out?

    All the data in the world won't replace the knowledge and experience of trained professionals. I wouldn't repair my car or outboard, wouldn't write myself a prescription, and notice that many realtors even involve other agents to sell their own houses, to reduce their emotional involvement.
  • Jose | 06 Jun 2016, 12:22 PM Agree 0
    Should this division stand, larger real estate companies, Royal Lepage / Remax / Century21, would internalize their data resulting in the end of theph Toronto Real Estate Board.
  • Full Service Sales Rep | 06 Jun 2016, 12:30 PM Agree 0
    I'm with Jose. The big companies should internalize. I for one will never all my clients sold price to be displayed any where. Now what's RECO going to do now? Let the games begin!!!
  • Bianca | 06 Jun 2016, 12:37 PM Agree 0
    I think this will result in many exclusive listings which will do our clients no good. The larger brokerages will have their own system and that will be the end of MLS as we know it. A sale is price is private until it becomes registered at Land Title.
  • P.F. | 06 Jun 2016, 12:47 PM Agree 0
    The key word here is "ordered" pretty heavy handed competition Bureau! it doesn't sound to me like the other party TREB was a willing partner.
    So competition Bureau, how about going after the car companies! I would like to know exactly what my neighbour paid for his car because you want to protect my interest and that of the general public, right! How about all those small used car dealerships all over the country, shouldn't they have access to all of General Motors, Mercedes, Toyota ETC. motor car sales, so they to can compete?

    Where in the hell are the Treb lawyers and who hired them? Has any one ever heard of proprietary information?

    If a cloud based real estate company just wants to sit behind a desk and make money without ever meeting with a Seller, that's ok with me, if it's Ok with the seller, who am I to judge! So, why doesn't that cloud company join Treb pay the fees, and they can have the same privileged information that us Agents who work in the field make happen on a day to day basis, right. I'm thinking there is a lot of hard work done by Agents prior to a sale, it just doesn't fall from the clouds to the top of our desks, but someone wants it to go back to the cloud, but it didn't come from there in the first place.

    Thank God we only have to hands, if we had 6 or 8 or 10 hands, the government would still find a way to tie them all up.

    Thanks for reading.
  • PF | 06 Jun 2016, 12:49 PM Agree 0
    All the independents can get together and do the same
  • Don D | 06 Jun 2016, 01:01 PM Agree 0
    Perhaps the boards across the country should leave it up to the home owners as to whether or not to allow the information regarding this info to be available to the general public. Perhaps the potential for real estate fraud resulting in the release of the info should be advised to the public, and they could sign whether or not they wanted it out to everyone in the world. The real estate industry is good at making up paperwork!
  • Greg V | 06 Jun 2016, 01:11 PM Agree 0
    I always find it interesting as to where the focus of readers is. The whole start of this was because some Brokerages wanted to use sold data to attract buyers whom they rebate commission to. The buyers find the home, the brokerage faxes the offer, the buyer gets some of the buyer side commission back.

    I'm in BC, where a 'normal' commission is 7% on first 100k, 2.5% on balance split a hair in favour of listing agent. The above rebate programs that I have seen in the past result in the kicking back brokerage still getting more than either agent in BC does. BC agents still thrive and our discount competition is even steeper, Where we have the 1%, 2% and flat fee offers, all claiming to provide full services.

    The US has had sold data floating around for many years. They still have both the Ontario and BC commission structures all over. Realtors that are skilled and add value still make a very very good living.

    The only agents the releasing of sold data will have are the part-timers that make $60k a year doing 2 or 3 deals, don't know anything, aren't true professionals and in the end do more damage to the industry than good.

    Anyone in the business more than a few years understand clearly the pitfalls of consumers doing on their own. But if a consumer is that foolish let them be. Realtors focus on value, professionalism, selling and negotiating skills. Do that and it doesn't matter what noise is going on around you, there will always be lots of business to be had.

    In fact, investing in the right technology, this opening of data is actually a huge opportunity for agents if leveraged correctly.

  • | 06 Jun 2016, 02:04 PM Agree 0
    I don’t understand? All the information available on TREB is available to the public. The public can go to the Land Registry office to verify property ownership and sale price. With an address, the public can go online to any municipality, Mississauga in particular, to verify property taxes, work permit etc. associated to that property. The public can go to GeoWarehouse and verify ownership, transaction history, including previous owners.

    The information on TREB is not proprietary, nor is it private, it’s convenient. The public has access to the same information and more, albeit from different sources should they decide to devote the time, energy and in some cases the cost for the information they seek. The alternative for the public is to work with a Realtor.

    Member agents aren’t asking to display critical data on virtual office websites. Entrepreneurs masquerade as brokerages/agents join the board to gain access to TREB’s data, for the benefit of their business model at the detriment of the rest of the members.

    TREB’s database is bought and paid for, by their members and needs to be protected. Members need to respect the rules and regulations of the board or don’t join, and collect your information from other sources.
  • Peter B. Realtor | 06 Jun 2016, 02:38 PM Agree 0
    I guess we can debate the pro and con of any decision and someone will ultimately use the information for their own benefit... or loss thereof but I do have a question for the "Competition Bureau":

    This Wednesday, I am going to the dentist and he is charging me $1000 to insert about 10 cents of metal over a tooth. Were's my option for a competing quote? Doesn't exist because the Ontario Dental Association's "suggested" procedural cost schedule is adhered to like glue.

    Competition? Bull....

    The money always wind-bags itself into the system with "clever" descriptions of the benefits a new rule will bring to consumer but somehow, we are all getting a little more poor every day. Somethings not right here.

    If "they" want competition, bring it across all disciplines, especially the Legal and Medical professions. They you will hear the squawking I am sure.
  • Michael | 06 Jun 2016, 04:04 PM Agree 0
    This is an easy fix. When signing a listing agreement we should give the sellers an option if they want their information be be available to the public. Yes or No check box on the agreement with initials. Licenced agents would be able to see the info but not the public.
  • Mark | 07 Jun 2016, 03:04 PM Agree 0
    Competition Bureau always stickin there 2 cents in.
  • Thomas M | 08 Jun 2016, 01:08 AM Agree 0
    So, if my client signs something that says "I do not want my sold data disclosed to the public on the MLS system", is that sufficient to suppress the data, or is this competition bureau going to force them to disclose their sale price? I will start suppressing the sold data, under my clients direction, and if a fellow colleague wants to know what it sold for, they can call me and ask for it.
  • | 08 Jun 2016, 10:55 AM Agree 0
    We as realtors paid years of membership fees to TREB to compile data literally collected by us. The data enhance our profession and by and large shape up the industry. TREB has proven unable to safeguard our years of hard work and give it for free to public no even with any fees. It is about time we safeguard our information with our brokerage or our groups as a whole.
  • Van | 10 Jun 2016, 11:54 AM Agree 0
    YAY! Peter! Dentists are the best example and where is the competition bureau on their "technical" skills because really that is all they are TECHNICIANS! I am so very tired of the Competition Bureau breathing down our backs. BTW my crowns are $1200 a piece ;)
  • | 13 Jun 2016, 11:13 AM Agree 0
    Another Full Sales Rep

    I am in agreement with the others re: fixing your own out board motor and writing all our own prescriptions. Why have we paid such exhorberant fees and dues and been required to educate extensively. Does not make sense !
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