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Classified in: Business
Subject: EXE

Federal Court of Appeal upholds decision in favour of real estate innovation



Toronto Real Estate Board must stop restricting its members' use of real estate data

OTTAWA, Dec. 1, 2017 /CNW/ - The Commissioner of Competition welcomes the Federal Court of Appeal's ruling today in favour of competition and innovation in the Bureau's abuse of dominance case against the Toronto Real Estate Board (TREB).

The decision upholds an order issued by the Competition Tribunal in 2016 that requires TREB to remove restrictions on its members' access to real estate data - including historical listings and sale prices - for display online through virtual office websites.

This will allow home buyers and sellers to take advantage of a greater range of service options when making one of the most significant financial transactions of their lives. Opening up access to real estate data will allow member agents to offer consumers the convenience of data-driven insights into home sales prices and trends via the web, and to improve the efficiency and quality of their services.

The 2016 order followed the Tribunal's earlier ruling in favour of the Commissioner of Competition when it concluded that TREB ?has abused its dominant position in the Toronto residential real estate services market.

Quick facts

Quote

"Today's decision is an important win for competition and for consumers ? it paves the way for much needed innovation in the real estate industry. Anti-competitive activity that hinders innovation in the Canadian economy will continue to be a top priority for the Bureau."

John Pecman
Commissioner of Competition

Related Information

Federal Court of Appeal's summary of its decision 

Federal Court of Appeal decision

Associated links

June 3, 2016: Bureau welcomes Tribunal order addressing anti?competitive Toronto real estate practices

May 10, 2016: Competition Bureau releases detailed summary of reasons in Toronto real estate decision

April 28, 2016: Competition Tribunal rules in favour of the Commissioner in Toronto real estate case

July 24, 2014: Supreme Court Denies Toronto Real Estate Board's Application for Leave to Appeal Pro-Competitive Federal Court of Appeal Ruling

February 3, 2014: Federal Court of Appeal Overturns Competition Tribunal Ruling on Toronto Real Estate Board Case

May 14, 2013: Competition Bureau Appeals Competition Tribunal Ruling In Toronto Real Estate Board Case

April 15, 2013: Competition Bureau to Review Competition Tribunal Ruling

May 27, 2011: Competition Bureau Sues Canada's Largest Real Estate Board for Denying Services Over the Internet

 

The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.

www.competitionbureau.gc.ca
Enquiries/Complaints 
Stay connected

 

SOURCE Competition Bureau


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News published on 1 december 2017 at 17:22 and distributed by: