Real Estate

TREB going to Supreme Court

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  • Feb 9th, 2018 12:32 pm
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27 replies
Deal Guru
Feb 22, 2011
11545 posts
14808 upvotes
Toronto
Not that I care too much but what right are they upholding?
Deal Addict
Jul 29, 2006
4148 posts
983 upvotes
rjg4235 wrote: Not that I care too much but what right are they upholding?
Sharing of sold prices. Which means sites like mongohouse would cease to exist.
Deal Guru
Feb 22, 2011
11545 posts
14808 upvotes
Toronto
nx6288 wrote: Sharing of sold prices. Which means sites like mongohouse would cease to exist.
I don't think that qualifies as a right.
[OP]
Member
Oct 27, 2013
328 posts
89 upvotes
MISSISSAUGA
rjg4235 wrote: Not that I care too much but what right are they upholding?
I posted this in the hopes someone here can figure this out.
Deal Expert
Feb 29, 2008
17765 posts
15425 upvotes
Tarrana & The Ri…
Pathetic. TREB is looking like scumbags here. Holding home prices hostage is the only leverage they have. They know they can’t lend much help if buyers have access to sold data.

Publishing Sold data would squeeze out a lot of the lazy, unscrupulous realtors.
Deal Addict
User avatar
Jul 8, 2010
1428 posts
1122 upvotes
Ontario
newby1983 wrote: I posted this in the hopes someone here can figure this out.
Sure, but the problme is that TREB is working only for them. What they want, it is to have exclusivity so they can make money from that.
Deal Guru
Feb 22, 2011
11545 posts
14808 upvotes
Toronto
newby1983 wrote: I posted this in the hopes someone here can figure this out.
Ahh I misread your comment.

In all honesty though TREB is working to protect the interest of it's members which is what I would expect any organization to do. It is up to the courts to decide if they are correct or not. They didn't have to hear the case they could have rejected it, which imo they probably should have.
Deal Expert
Feb 29, 2008
17765 posts
15425 upvotes
Tarrana & The Ri…
soupmaster666 wrote: It's just the board trying to cling to the old way of doing things.

People don't actually need real estate agents - between realtor.ca, WalkScore, a Home Inspector licenced by OAHI, and the lawyer that you need to have anyway, the only missing piece is the history of the home and neighbourhood. That's what TREB is fighting to keep under wraps.

Take a look at comFree, Property Guys and ForSaleByOwner listings to see just how many non-Realtor sales are going on in your area.

For anyone selling, a service like this: http://thecertifiedresalehome.ca is $700 and is basically a home inspection, title history/check, and $20k 18-month warranty wrapped up in one. This allows buyers to feel more comfortable buying without an agent or without a selling agent.


Your average realtor is making 2.5% commission from sellers. On a $400k home 2.5% commission is $10,000
They're not taking home that 10K though. I get your point and agree with the sentiment but there are expenses and other costs that come out of that 10K.

Also using Property Guys or any of the other options to sell your home is a good idea but you will not get access to as many buyers. Some relators won't even bother looking at deals with Property Guys. Change is necessary though and TREB is still in the dark ages. Evolve or die.
Deal Fanatic
May 31, 2007
5018 posts
2171 upvotes
It's not a privacy issue to know a sold price.

But treb is arguing it is, unless you use their realtors.

Lol
Deal Fanatic
May 31, 2007
5018 posts
2171 upvotes
Treb is in a pickle because after reading how much average realtor makes, it's not good.

They've allowed the market to be diluted with to many realtors , that the average barely make anything. Some don't make anything, only the elite make big coin.

But my understanding is each member has to pay thousands in annual registration , licence and member fees. No marketing support-your own you on. Seems like treb is schooling realtors instead and focusing on privacy ruling is just a way to deflect real important issues.
Deal Expert
User avatar
Aug 2, 2010
15193 posts
4974 upvotes
Here 'n There
OMG this again? I have a real estate licence and I welcome TREB being shot down in court. They are still operating in the horse and buggy era and trying to claim ownership of data that it was free to collect. They've lost so many times now in court it isn't funny. Now they are going to waste even more of their member's dues throwing good money after bad by going to the Supreme Court after they have lost every lower court battle so far. Time to bust this stone-age organization's hold on the sales data.

I hope the SCO tells these TREB bozo's to take a hike by refusing to hear their appeal.
Deal Fanatic
Mar 27, 2004
6853 posts
4788 upvotes
Toronto
An agent does more than just find sold prices for the buyer.

All this hate isn't going to get you anywhere.
Full-time Realtor
Deal Addict
Jun 7, 2017
1043 posts
831 upvotes
BC
oasis100 wrote: An agent does more than just find sold prices for the buyer.
Not sure I can grant you this, but if I do, what else do they do?
Deal Expert
User avatar
Aug 2, 2010
15193 posts
4974 upvotes
Here 'n There
Yeah, so then we shouldn’t be worried about the sold price is being public. FYI - i’m a real estate salesperson and I couldn’t give a rat’s ass that the sale prices are public. Why? Because I do so much more as you say .
Moderator
User avatar
Aug 20, 2009
9024 posts
4297 upvotes
I've been on both sides of private sales and would do it again. I didn't really have a problem establishing prices with a bit of research though I support this data being free to the public as it would've made things easier. Frankly if all that's holding the industry together is this little bit of information then there are larger problems ahead.

The lawyers do the majority of the work and take far less of a fee in my experience. I was shocked at how little is really involved.
Sr. Member
Sep 14, 2007
940 posts
337 upvotes
Toronto
It's like a union fighting for their workers.
But this data should really be public information and not monopolized by agents. They don't deserve the pay they make.
This is just begging the government to bail them out and keep the RE commission gravy train running. They're industry needs to come to terms with the fact that consumers are more informed and resourceful than ever and they need to work harder than ever before to really deserve compensation.
Deal Fanatic
Dec 5, 2009
5740 posts
3568 upvotes
It’s just stall tactics. They have no chance of winning. They have already lost multiple appeals and rulings.
Deal Fanatic
Mar 27, 2004
6853 posts
4788 upvotes
Toronto
This data is public, you just have to pay for it. You can pay for land registry data.
Full-time Realtor

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