TREB loses Supreme Court bid to appeal
release of real estate sold figures
The long legal battle over whether consumers should have online access to information such as home sales prices, house history and property market trends in a neighbourhood has come to an end with the Supreme Court of Canada’s ruling that it won't hear an appeal from the Toronto Real Estate Board that would aim to keep the board's members from publishing home sales data.
TREB has fought since 2011 to keep the figures in the hands of real estate agents, arguing that posting the data would violate consumer privacy.
The Competition Bureau has argued against this, and welcomed the decision, saying that it ”will allow greater competition and innovation in the real estate services market in the Greater Toronto Area, and concludes seven years of litigation in the bureau's case against TREB.”
So, where does this leave the realtors? Some will take this as a loss and a hit to the industry. I feel however that we are now living in a world of constant change, and in time we will embrace the decision. I will certainly comply with the new requirements and include current and historical information on my website to assist in understanding today's market. A note of caution however, and just because there is historical information available,there are still many other significant factors that go into making the correct decision for one’s particular situation. As we have seen over the past 2 years the market has changed dramatically each month and the benefit of both information, expertise and experience are invaluable to making the ‘right’ real estate decision. I believe each person’s real estate situation is unique and would very much look forward to personally working with you, to thoroughly understand all the factors, not only the past history while comparing it to today’s market to assist you in finding the correct answer to you.
Should you wish to discuss your personal situation, buying or selling, please call.
Wishing you a happy Fall season