The Toronto Real Estate Board (TREB) is defending itself against a filing by the Competition Bureau claiming that TREB operates its MLS system using restrictive, anti-competitive practices. The Competition Tribunal began Sept. 10 in Toronto. As the hearing continues, the Tribunal is releasing witness statements that were filed in the summer. Links to some of those statements are below, and will be updated as the Tribunal continues. The witness statements are in PDF format.
Also below are the latest links from other news media. Check back to this page for more updates.
Under the Related Stories at the bottom of this page are the REM stories covering the events leading up to the Tribunal.
The first witness statements are from representatives of companies who say they were hindered in the development of their Internet business models by TREB’s policies:
William McMullin, Viewpoint Realty Services, Bedford, N.S.
Mark Enchin, Realty Executives Plus, Guelph, Ont.
John Pasalis, Realosophy Realty, Toronto
Shayan Hamidi, TheRedPin.com Realty, Toronto
Tarik Gidamy, TheRedPin.com Realty, Toronto
Gregory S. Vistnes, vice-president of Charles River Associates in Washington, D.C. was called by the Competition Bureau as an expert witness. His statements are here and here.
The first TREB witness statement released is from Don Richardson, TREB’s executive officer. The statement includes the history of TREB and its MLS system, and discusses the development of the current VOW policy. Included are several exhibits, including TREB’s Strategic Plan, its MLS rules and more. Some portions of the witness statement and some exhibits have been blacked out because the Tribunal has ruled them confidential. Richarson’s witness statement is here.
Statements from brokers/owners of real estate companies concerning competition in the GTA:
Pamela Prescott, broker/owner, Century 21 Heritage Group, Thornhill
Tung-Chee Chan, broker/owner, Tradeworld Realty, Richmond Hill
Tim Syrianos, owner/broker of record, Re/Max Ultimate Realty, Toronto
Evan Sage, vice-president and sales rep, Sage Real Estate, Toronto
TREB asked for an expert report from Jeffrey Church of the Department of Economics, University of Calgary. His report disputing the Vistnes findings is here.
CREA commissioned a report by Fredrick Flyer, an economist and senior vice-president at Compass Lexecon in Chicago, to ” (a) evaluate the economic incentives and the potential impact on CREA, CREA’s members and CREA’s trademarks of the remedy requested by the Commissioner of Competition to be imposed on the Toronto Real Estate Board… (the remedy being, in effect, requiring TREB’s VOW data feed to include a complete inventory of property information available on TREB’s MLS System, including historical sales data and all properties currently listed for sale), and (b) to evaluate and/or respond to the economic evidence and arguments put forth in the Expert Report of Gregory S. Vistnes.” The Flyer report is here.
More information will be added here as it becomes available.
News stories:
Competition Tribunal rejects constitutional challenge by Toronto Real Estate Board (Toronto Star, Sept. 11)
MLS house information seen as so private, Toronto Real Estate Board seeks to have public barred from Competition Tribunal hearing (Toronto Star, Sept. 25)
Real Estate Board admits sharing ‘sensitive’ information isn’t unusual (Toronto Star, Sept. 25)
Matt Gurney: Realtors declare themselves threat to public safety (National Post, Sept. 26)
Emails point to reasons behind TREB resistance to online competitors (Toronto Star Sept. 27)
