Last April, the Competition Tribunal ruled the Toronto Real Estate Board prevented competition, stifled digital innovation by prohibiting its realtor members from posting sales data online.

Yesterday the Federal Court of Appeal’s decided to uphold an April 2016 Competition Tribunal ruling.

TREB now says it will seek a Supreme Court of Canada appeal to fight this ruling further dragging out the battle. It says it will also seek an order staying the decision until the outcome of the appeal.

If you are considering your options, contact us to see how we can help.  

Last year the Competition Tribunal ruled that the Toronto Real Estate Board prevented competition and stifled digital innovation by prohibiting its realtor members from posting sales data on their websites. TREB has appealed this decision.

"By denying agents the ability to introduce new and innovative real estate brokerage services using the internet, consumers are ultimately denied the benefits of greater competition.
Competition Bureau"

TREB's strict rules stiffel what real estate brokerage services could offer, which denys the consumer from the benifits of increased competion. Increased competion usually provides consumers with lower prices. Should the Federal Court of Appleal find in favour of the Competition bureau, this may further erode the ability of realtors to earn a decent living.

If you are considering your options, contact us to see how we can help.  

 

 

Earning an Ontario Real Estate License is an expensive endeavour. Real Estate Board fees, franchise fees, education and advertising all add up. Building a client base can take years. Sometimes however, life throws you a curve ball and you need to take a break. It would be a shame to loose all your hard earned good will. Parking your License with Karma Realty will allow you to still earn referral income by keeping your license active, but without the high costs of staying in business.

We are keeping doors open for Ontario Real Estate Agents, contact us now to see how we can help.

According to the HuffPost, morgage rates have dropped 47 per cent in the third quarter of the year. This is mostly due to the new stress test rules that where announced by the Federal Government in the forth quarter of 2016. New home buyers are now finding it increasingly difficult to purchase a home.

Read the full article here.

The HuffPost reports that Toronto's new home sales are plummeting due to disappearing demand. Investors are pulling out of the market, decreasing demand by 73% in September. Prices for these new homes is also dropping, done 17% to a still unbelievable 1.6 million dollars. Ontario's Fair Housing Plan, changes in the interest rate and stricter mortgage regulations are likely the culprits.

If the market slowdown is causing you to consider your options, contact us to see how we can help.