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Good News For Realtors: Toronto Real Estate Board Listing-Service Case Dismissed

In Toronto’s hot housing market, buying and selling homes with a real-estate agent doesn’t come cheap — and it’s not easy to buy or sell without one. It doesn’t look like that’s going to change anytime soon.

This week, Canada’s Competition Tribunal dismissed a years-long case in which the country’s Competition Bureau accused Toronto’s giant real-estate board of unfairly keeping a stranglehold on certain real-estate data, including previous selling prices for homes.

The Competition Bureau said the Toronto Real Estate Board, which represents 36,000 real-estate brokers and salespeople throughout Canada’s largest city, was tilting the lucrative market in its favor, putting consumers at a disadvantage and preventing upstart firms from successfully entering the market.


The real-estate group, which operates the Multiple Listing Service system, argued it was protecting the privacy of home sellers and buyers. Its website, mls.ca, includes real-estate listings and prices, but doesn’t include previous selling prices for homes. In the greater Toronto area, only real-estate agents have access to those numbers.

A Competition Bureau spokesman told Real Time Canada that officials are still reviewing the tribunal’s decision and haven’t decided whether to file an appeal.

 

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Posted: Tuesday, April 16, 2013 1:10 PM by Sutton Realty

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