The Toronto Real Estate Board’s long-running battle with the Competition Bureau finally appears to be at an end, but there are still a lot of questions about how it will impact local boards and if more legal action is coming.
The issue of permitting virtual office websites (VOWs) to publicly display sold data – a property’s purchase history – is still before the courts. Just what would VOWs do with the disputed data if it was made public?
A Federal Court of Appeal judge says that TREB “has raised at least one serious issue with respect to the possibility that the tribunal’s order failed to take adequate consideration of property owners’ privacy rights.”
John DiMichele, CEO of the Toronto Real Estate Board, writes "TREB has never been opposed to any innovation in the real estate marketplace, nor the distribution of property data, particularly the sold price."
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
REM is independently owned and operated, and is not affiliated with any real estate association or board.