No the Headline is “not quite the whole truth and nothing but”
And the story that prompted my comments in the G& M and here is even less-complete and less accurate
TARA PERKINS – REAL ESTATE REPORTER
The Globe and Mail
Published Tuesday, Jan. 21 2014, 7:30 PM EST
Uncle Bob says:
The info that TREB has decided to not feed to Virtual Office Website Brokerages is the “signed agreement, but awaiting closing & Registration” transactions. That’s all.
1) All Closed and Registered transactions are Public and are available a) at the Registry Office for $5-$10, b) from members of Teranet’s Registry Office online service (conveyancers, lawyers etc) c) thru all TREB members
2) The “signed but awaiting” sold info (also called “pending”) is also available to legislatively-authorized, E & E.O insured, police-checked and registered members of the R.E.C.O.
Around the GTA, this info is recorded and stored by the Toronto Real Estate Board via their private, member-owned online database called Stratus/ TorontoMls ™. This private property of TREB members can only be accessed by a 3 password login using a number-randomizing “authenticator” fob.
The TREB Online Service Agreement states that members will only use the info from Stratus/Tmls(tm) in accordance with the law, the REBB Act, Code of Ethics and the TREB Rules/ Regs/Policies.
TREB’s registered, insured members are obligated to supervise the use of the data and protect the privacy of all parties AND are compelled to NOT use the MLS(tm) info for any-other purpose than comparing market values with “clients” ie Buyers and Seller with whom they have a signed written “Representation Agreement.
3) The Virtual Office Website Brokers (a declared position they make when applying for a “direct feed of the private TREB data) do not – by virtue of their hands-off business model – necessarily supervise or guard the privacy of information to their self-serve online customers.
Anyone can become a VOW customer by providing “an email address” (takes 5 minutes – identity unverifiable) and picking a password. The old TREB rules were “bent-til-just-this-side-of breaking” to permit the current situation – all the actives and all the “closed” transactions are “fed” to the VOW’s and their virtually-unknown online mystery-customers.
In my view the Competition Bureau is wrong to pursue this action (unless it’s strictly to try to wriggle out off paying the “defendants costs in full” as per the last case’s verdict)
4) Ask your Readers “Would you like info on your “agreed but not yet completed” sale available to the VOW’s mystery-customers?” — then write your story
Registered Sales Representative
RE/MAX Hallmark Realty Ltd