|TREB Loses Competition Tribunal Appeal
Just this month the Toronto Real Estate Board lost its appeal against the Competition Board with regards to the advertising of sales information on its virtual web site realtor.ca. One of our primary focuses as realtors is the dissecting of information we provide to our clients and as such, it really is important to focus on the power of information and the educational benefits on ‘reading’ a market and its data.
TREB does focus on the protection of consumer information, which, while is important, the Competition Bureau’s argument is based on allowing consumers the freedom of gaining their own information and analysing it to make an informed decision when buying and selling in a current market. Sounds pretty fair, I’d say.
We, as realtors, provide the information when counselling our clients. A general consumer seeking out information on their own does that now anyhow. From the realtor’s perspective, it is in the educational framework where that information gets misconstrued. Case in point this past market. We had many consumers attempting to ‘read’ the market trend, which is very difficult to do.
When you are in the trenches, you have a certain read on your own industry. That is why you are trained to do what you do and remunerated. A mechanic is relied upon for not only his/her training, but, also the years of work experience. This is not to say the public should not have access to the information, I believe, they should, but, having had many consumers try to tell us what the market is doing over the years, I beg to differ that simply by having the information, the average consumer will know exactly what it means in terms of reading the current market and making a planned purchase.