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Court rules Toronto Real Estate Board must make detailed home prices public


Toronto-area home owners and house-hunters are one step closer to being able to find out online how much the house down the street sold for without meeting personally with a real estate agent. A Federal Court of Appeal has upheld an April 2016 decision by ...

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  • Star Business Journal
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    Court rules Toronto Real Estate Board must make detailed home prices public
    By Tess KalinowskiReal Estate ReporterFri., Dec

    1, 2017
  • Toronto-area home owners and house-hunters are one step closer to being able to find out online how much the house down the street sold for without meeting personally with a real estate agent.A Federal Court of Appeal has upheld an April 2016 decision by Canada’s Competition Tribunal that ordered the Toronto Real Estate Board to allow its members to share the sales histories of listed properties online.
    Friday's court decision is a victory for online real estate brokerages that want to provide previous selling prices to their clients via password-protected websites.  (Nathan Denette / THE CANADIAN PRESS file photo)
    TREB says it will appeal the decision and ask the Supreme Court of Canada to stay the tribunal order that the new rules take effect immediately.Meanwhile, Commissioner of Competition John Pecman says Friday’s ruling is an important win for competition and consumers.“It paves the way for much needed innovation in the real estate industry,” he said in a statement about the case has been going on for six years.Article Continued BelowRealtors say it’s also a victory for online brokerages, which are members of TREB, who want to offer sales histories to their clients online, as well as other information from TREB’s Multiple Listings Service (MLS), such as commission rates, previous listings on the same property and transactions that haven’t closed.TREB wants that information to be disclosed directly by realtors to their clients.In April 2016, the tribunal upheld an argument by the Competition Commissioner that TREB’s restrictions on online realtors was stifling competition and innovation.The court upheld the tribunal’s finding that TREB has the ability to influence the competitive landscape; that it isn’t genuinely concerned with consumer privacy, and that it had

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