TORONTO, April 20, 2017 -- Toronto Real Estate Board CEO John DiMichele has released a statement in response to the new measures announced today by the Ontario Government for homebuyers and renters.
“The Toronto Real Estate Board is encouraged that all levels of government are making the state of the housing market a priority; however, TREB strongly believes that public policy decisions with regard to the housing market should be evidence-based and supported by empirical data. In this regard, it is not clear that the issues targeted by the policies announced today are fully understood at this point, nor is it clear how effective these policies will be, or if they will have unintended outcomes.
TREB continues to believe that more empirical evidence is needed to fully understand the issues that governments are attempting to address. TREB has participated in discussions with policy makers and has taken the initiative to conduct research that has contributed valuable data, and we will continue to do so.
With regard to REALTOR practices as it relates to the home bidding process or representation of sellers and buyers, TREB welcomes a review of the Real Estate and Business Brokers Act, which REALTORS are currently obligated to comply with and is administered by the Real Estate Council of Ontario (RECO). The rules are specific in terms of what REALTORS are required to do and TREB Members follow the rules as set out by REBBA and RECO.” - John DiMichele, TREB CEO
Government Announcement: https://news.ontario.ca/opo/en/2017/04/making-housing-more-affordable.html