Sold data for everyone!

Until late 2017, TREB has held a lot of power because it has been able to argue that Sold data (what the average Joe cannot get access to without a realtor) is a privacy issue and should not fall into the hands of the average consumer. With the court ruling in late December, read more here, TREB is slowly losing its power. Is the power being taken away from the “big boys” and being handed to the average Joe and Jane?

 

TREB’s power could be crumbling. (credits: Money marketing https://www.moneymarketing.co.uk/issues/12-may-2016/too-big-to-fail-is-platform-tech-about-to-crumble/)

Following the ruling, The Globe and Mail posted an interesting article outlining alternative sources for finding sold data, which have now been expanded in light of the new ruling. Read more here. These are the points I found interesting:

  • In light of the ruling, 4 RE companies and 4 online sources have been publishing sold data
  • HouseSigma, which was already making data available to users via its website, expanded its sold data back to 2013 following the ruling and experience a big uptick in hits. Clearly an indicator of lots of pent-up demand.
    • In my opinion is the tip of the tip of the iceberg as only a fraction of GTA residents and RE enthusiasts were aware of this website.
The demand for such data could be massive. This is just the tip of the iceberg (credits: https://www.changingworld.com/)
  • TREB’s argument is that this is a breach of privacy
  • The reason why many online data providers ask you to create a login is that the current rules prevent data from being published on an open website.
    • Data providers simply circumvent this process by asking users to create a username and password, smart!
  • Some may say that TREB is already providing a lot of data available to consumers via realto.ca, isn’t that enough? NO! realtor.ca only provides list price, without historical references and similar sold data you cannot know the market price of Real Estate, thus, up until this ruling, they still held all the power.
  • Other alternatives
    • Bluepages (iPhone App)
    • Mongohouse.com
    • housesigma.com
    • tosolds.ca (my first experience with Sold data run by the courageous realtor Mr. Fraser Beech)

Have a wonderful day and drive safe!

Hadi is Honours civil of engineering graduate with solid project management experience in the construction industry. Solutions-focused, results-oriented with strong business acumen and entrepreneurial spirit. Currently, he is working as an assistant site-superintendant with Darcon Inc. at one of Vaughan's biggest developments, Centro Square.

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