Founded 1920 | ||
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The Toronto Real Estate Board (TREB) is a real estate board in Canada operating in the Greater Toronto Area.
Contents
History
The TREB was founded in 1920.
In 2002, the board, along with the Canadian Real Estate Association, was sued by Realtysellers, a discount brokerage, for alleged anti-competitive practises in the real estate sales market. The lawsuit was settled in 2004.
In 2009, a separate lawsuit was brought against TREB for anti-competitive actions.
In 2011, the federal Competition Bureau sued the TREB over its policy of restricting access to the Multiple Listing Service (MLS). The bureau lost its case at the Competition Tribunal, but the decision was overturned by the Federal Court of Appeal. In 2014, the Supreme Court of Canada refused to hear an appeal of the Federal Court's decision, and sent the case back to the Competition Tribunal for another hearing.
In 2015, the TREB forced real estate brokers to stop sharing house sale information publicly with customers with the threat of revoking access to the MLS.
On April 28, 2016, the Competition Tribunal released its decision in its ongoing competition case, agreeing with the Competition Bureau that the TREB stifled competition and partially granted its application.
Work
The TREB says, it has over 43,000 licensed real estate brokers and salespersons operating in the Greater Toronto Area.
TREB's MLS is shared with boards in the surrounding area, namely the Brampton, Durham Region, Mississauga and Orangeville Real Estate Boards.
The Toronto Real Estate Board covers the GTA and surrounding townships, including: Ajax, Aurora, Barrie, Brampton, Burlington, Caledon, Halton Hills, Markham, Milton, Mississauga, Newmarket, Oakville, Oshawa, Pickering, Richmond Hill, Toronto, Vaughan, and Whitby.