Competition Bureau files application with Competition Tribunal

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Presentation transcript:

Competition Bureau files application with Competition Tribunal TREB Develops draft VOW policy July 2010 Competition Bureau files application with Competition Tribunal May 2011 Initial Hearing 2012 Redetermination 2015 Remedy 2016 Supreme Court Declined  to hear TREB's appeal Aug. 2018

A Virtual Office Website (VOW) is a password-protected area of a brokerage’s website where consumers who have entered into a lawful broker-consumer relationship with the brokerage can log-in to view listing information provided to the brokerage through an MLS® System VOW data feed. This will allow Brokerages and REALTORS® to provide the same or similar information to their customers via their website as they would at their traditional "bricks and mortar" office. For consumers accessing the VOW, the additional property specific information will support the consumer becoming more knowledgeable about the market.

IDX VOW Search public advertising site REALTOR® webpage showing active listings (IDX) from Brokerages who have opted in to the service. Public search of real estate listings. Returns active listing & limited data fields REALTOR® VOW webpage presents MLS® Information with active, pending sold, sold, expired, cancelled statuses.  Includes sale price, commission to the cooperating brokerage, but not REALTOR® Remarks, sellers' name or how Occupied. Login & Search private site VOW Registers with REALTOR® who provides login and password to protected website. Client online search using a VOW Returns all statuses and most data fields

IDX (Internet Data eXchange) VOW (Virtual Office Website) Brokers opt in to pool their listing inventory with other brokerages Brokerages that participate can display the entire pool of listings (i.e. not just their own) Participation is optional Restricted to active listing status Listing brokerage must be identified on all property records Online password protected site/service Consumers who have entered into a lawful broker- consumer relationship with the brokerage can log-in to view listing information Includes all active, expired, pending sold, sold, cancelled, terminated listings…but not conditional.   Mandatory – brokerages cannot opt out of providing a listing that is on the MLS® System to a VOW. Consumers can opt-out of publishing their address on internet, which would apply to VOW’s, IDX and includes but not limited to REALTOR®.ca

Must Register before getting access Must Register before getting access. The Brokerage will decide how much information they need to collect to create the lawful broker-consumer relationship.   Registration Required (register here) Name: Email: Phone #:

All active, pending sold, sold, expired, cancelled, terminated listings…but not conditional.   In addition to typical property information: Previous sold prices. Pending sold prices. Commission to the cooperating brokerage. 

ORTIS develops and members approve a uniform VOW policy for all ORTIS boards to use within the ORTIS MLS® System. Changes to the Matrix configuration will be made to support VOWs.