Select active listings displayed on Canada’s No. 1 real estate website, REALTOR.ca, now show how much a property sold for in the past.
On April 2, the Nova Scotia Association of REALTORS® (NSAR) became the first board or association allowing the option to show historical sold data on listings. The new feature will be rolling out to other parts of Canada in the near future.
Consumers, boards and members have been asking to see historical sold data on REALTOR.ca for some time now. Having sold data helps CREA ensure we continue to offer leading edge services on REALTOR.ca, especially with foreign competitors attempting to saturate the market. It’s important to note only previous sold prices will be posted and not pending sold prices.
“The addition of historical sold data to REALTOR.ca is a welcome addition to the real estate industry here in Canada. Consumers are looking to arm themselves with an increasing amount of information as they prepare to make what is one of the largest purchases of their lives,” said Matthew Honsberger, President of NSAR. “The REALTORS® who are successful today realize they are no longer the gatekeepers of information, but rather the interpreters and the analysts of it. REALTORS® are there to help people understand how to use that information and having it in the hands of the consumer helps bring them up to speed as they engage the services of a great agent.”
The data won’t automatically show up on all listings. Boards and associations need to ensure they’re complying with any applicable provincial or federal privacy legislation. For example, British Columbia, Alberta and Quebec have their own privacy regimes, while the remaining provinces and territories are subject to federal privacy legislation.
CREA will also be consulting with boards and associations before allowing the data to be displayed on REALTOR.ca and every board or association has the choice to opt in or not.
Below is how the feature is displayed on REALTOR.ca.
