About displaying "SOLD" listings
Privacy issues
Courtesy of
Canada's Privacy Act, we now believe that it has
become a less
acceptable practice to advertise properties as "SOLD".
PLEASE CLICK HERE
for a link to the "Privacy" information page.
We used to advertise properties as SOLD. Why?
Real Estate agents would
advertise properties as "Sold" to make themselves look better or
more successful.
Was there a benefit to the
general public in advertising SOLD properties?
There was none; on the contrary. Because such information
could interfere with a buyer's or a seller's privacy, it could
potentially do more harm than good.
Is SOLD information still available?
Yes it is. Your Real Estate
Professional can still access this information. There is some
discretion as to under what circumstances the SOLD information can
be applied.
For instance:
- A correct use would be when the information is needed to price a
comparable property.
- An incorrect use would be to publish the information for the
benefit of the Real Estate professional.
What happens now when a property
sells?
As soon as a property transaction becomes unconditional,
the detailed listing information will drop off the server, without
advertising the property as "SOLD".
During a discretionary period, a SOLD banner may be applied to the
property's "for sale" sign but ONLY with the seller's specific
consent.
At no point will "SOLD" advertising take place past the property's
closing date.
Please
click here to VIEW information about the Privacy Act.
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