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By Tess Kalinowski Real Estate Reporter Tues., Aug. 28, 2018 The Toronto Real Estate Board has confirmed it will allow its members to publish the selling prices of properties on their websites by Oct. 22 at the latest, and it expects other boards to change their practices as well. But TREB will continue to monitor how its 50,000 brokers and agents are using sold information. On Tuesday, the board issued its first explicit response to its members on how it will proceed after the Supreme Court dismissed its application to appeal an earlier ruling by the Competition Tribunal. That ruling said TREB must allow its members to post sold data on their websites as long as consumers have a password to access the information. Read more: TREB looking to ‘protect’ home sales data, despite realtors already posting it Article Continued Below Supreme Court dismisses real estate board’s appeal application on sold data TREB’s … [Read more...] about Toronto Real Estate Board gives go-ahead to agents to post selling prices of properties online
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Supreme Court dismisses real estate board’s appeal application on sold data
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By Tess Kalinowski Real Estate Reporter Thu., Aug. 23, 2018 The Supreme Court of Canada has dismissed an appeal by the Toronto Real Estate Board (TREB) that has for seven years been fighting to keep the selling prices of homes off the internet. It’s possible some online brokerages could begin posting the data almost immediately. The top court’s dismissal means an earlier federal appeal court ruling stands for the moment. That court ruled in favour of the Competition commissioner of Canada, which maintained that TREB was stifling competition in the real estate industry by disallowing the online publication of the selling price information on password-protected websites. Read more: Toronto real estate board awaits leave to appeal sold data ruling Toronto home prices finally inch up in June Article Continued Below Traditionally, real estate agents pass on sold data directly to their clients but don’t publish it. It’s the kind … [Read more...] about Supreme Court dismisses real estate board’s appeal application on sold data
Toronto real estate board awaits leave to appeal sold data ruling
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By Tess Kalinowski Real Estate Reporter Tues., Aug. 21, 2018 The Toronto Real Estate Board (TREB) will learn Thursday whether the Supreme Court of Canada will hear its appeal of a lower-court ruling last December that some online brokerages could publish selling prices of homes. A federal appeal court decided last year in favour of Canada’s commissioner of competition who has been arguing for more than six years that some online brokerages, who are members of the board, should be allowed to publish sold data on their password-protected websites. If the Supreme Court agrees to hear TREB’s appeal, the prohibition on publishing that information will continue until the case is decided. But if the court decides against hearing TREB’s case, some companies could begin publishing the data immediately. The real estate board has vigorously defended the traditional real estate practice of agents providing the selling price of properties to their … [Read more...] about Toronto real estate board awaits leave to appeal sold data ruling
Toronto Real Estate Board says Ontario counterpart to ‘stay in their lane’
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By Nicole Thompson The Canadian Press Armina Ligaya Sun., May 13, 2018 The president of Toronto’s real estate board warned leaders of the Ontario Real Estate Association, headed by a former Progressive Conservative leader, to “stay in their lane” in an emphatic letter that relays his concerns that the provincial group is stoking fears about the housing market and becoming too political. In a letter obtained by The Canadian Press, Tim Syrianos tells the president of the Ontario Real Estate Association — whose chief executive is long-time PC Tim Hudak — that the organization should turn its focus away from political contests and affordability in the Greater Toronto Area, and stick to its mandate to promote the province’s housing market as a whole. “It is misguided and ill-advised to attempt to supplant TREB and overtake our expertise and well-respected voice in our marketplace simply for media headlines and political … [Read more...] about Toronto Real Estate Board says Ontario counterpart to ‘stay in their lane’
Real estate board predicts flat prices and sales this year
The Toronto Real Estate Board (TREB) has declared the rollicking real estate ride of the last two years to be officially at an end. Its annual outlook predicts only a slight increase, at best, this year over last year’s average home price of $822,681.Prices are expected to end the year in the range of $800,000 and $850,000 on average across all home types.It’s inevitable that sales and prices will look poor in comparison to the first half of 2016, when year over year price growth peaked at over 30 per cent, said Jason Mercer, TREB’s director of market analysis.As the psychological impact of last year’s Ontario Fair Housing Plan wanes, home buyers will feel the effects of the new mortgage stress testing that took effect on Jan. 1, and of higher borrowing costs generally, he said at the board’s annual outlook conference on Tuesday.But there should be an uptick of prices in the mid-single digits in the second half of the year, said Mercer. … [Read more...] about Real estate board predicts flat prices and sales this year