TREB warns realtors on false sales data after $3.1M listing shows $1 price

TREB warns realtors on false sales data after $3.1M listing shows $1 price

TORONTO — The Toronto Real Estate Board is warning realtors not to report inaccurate prices following a ruling that sold data must be made public.

The board says in a letter to members that it has received reports that some realtors recorded false sales figures due to customers’ privacy concerns.

The Canadian Press obtained a $3.1-million dollar listing in Scarborough that appeared to be reported as selling for $1.

Mongohouse, a website that includes sold prices, shows the listing has an updated sold price tag of $2.98 million.

The Competition Bureau recently ruled TREB must permit its members to publish sales data on password-protected websites after a seven-year legal battle that culminated in the Supreme Court of Canada refusing to hear the case.

TREB says in the letter that publishing false prices is contrary to its rules and policies, and could lead to disciplinary proceedings.

TREB did not immediately respond to a request for comment.

The Canadian Press

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