Unreserved opened its doors last July, billing itself as a disruptive force in the real estate industry.
“But we didn’t invest tens of millions into getting an auction company going only to have the board come along and say, ‘Auctions need to be shut down now because they’re growing.’” Unreserved claims the board has demanded its MLS listings include phrases such as, “subject to terms and conditions,” and “for sale by an unregulated auction.” The board requires the phrases, the lawsuit alleges, “to scare and prevent” Unreserved customers and potential customers from using its services.Janice Myers, chief executive officer of the Ottawa Real Estate Board, said it had not yet been served with the statement of claim. “Therefore, we are not able to comment at this time,” she said.
Ontario and Manitoba are the only provinces in Canada that do not regulate real estate auctioneers, Hudak said. The government has said it will consider the scope of the auctioneer exemption during the next phase of reforms to the Real Estate and Business Brokers Act, expected later this year.
This is a sad attempt for publicity from Unreserved. Their platform is only optimal during a hot sellers market. They are no different then all the other for sale by owner platforms that have come and gone. They should be regulated.