Sold data ruling expected

by Justin da Rosa on 27 Jan 2017
The ongoing battle between the Toronto Real Estate board and a popular real estate website may be nearing its conclusion

“The process continues and there’s no telling how long the three judge panel will take to make their decision but normally it’s within two months,” Fraser Beach, an agent with Select/Plan Real Estate and the publisher of torealestatesold.com, told REP. “(Hearing within the next few weeks) would be my hope.”

A hearing between the Competition Bureau and TREB regarding the publication of sold data was heard in late 2016, and a decision is expected in the near future.

The subscriber-based website torealestatesold.com became popular among Torontonians because it published sales prices for homes in the hot housing market, as well as recently listed homes.

However, a cease and desist letter from the Toronto Real Estate Board in September of last year forced Beach to suspend the sold data portion of the website.

A similar letter led to a suspension of the data in March of 2015 as well.

The publication of sold data in Toronto – which is compiled from the Multiple Listings Service available exclusively to members of the real estate board -- has been an ongoing controversy.

Last June, TREB was ordered to open its sold data to the public following a competition tribunal ruling. In July, the board said it was appealing that decision.

The case was heard on December 5 and 6.

Beach as well as industry player across the city patiently await the decision of that hearing, which may come in any day now.

“We are expecting a favorable decision from the Federal Court of Appeal any day now that will allow us to resume publishing the Just Sold report,” torealestatesold.com says on its front page. “In the meantime we are doing specific or area sold property searches for subscribers on request.”

Real Estate Professional has contacted the Toronto Real Estate Board for comment.


 

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