The results of our pending listings audit are in, and the numbers are outstanding!
Between March 28 and April 1, CREB® Member Practice carried out an audit to ensure pending listings were being updated in accordance to the CREB® rules for reporting conditional sales.
The results below demonstrate the remarkable commitment to this rule by our members.
CREB® Member Practice audited over 1,500 CREB® MLS® System Listings in pending status during the week of the audit. Over 98 per cent of the pending listings were updated within two business days of the condition due date in alignment with the rules.
Because of our members’ diligence in updating their listings, fewer than 25 members were contacted by Member Practice over the five-day audit period to prompt an update to their listing.
CREB® will continue to monitor pending listings so REALTORS® have access to accurate and current information to support their clients' needs. Thank you to associates and brokers for integrating practices and tools into their businesses to make sure their listings are updated.
About Quarterly Compliance Audits
To ensure CREB® members are meeting compliance requirements, and maintain data integrity in the MLS® System, CREB® Member Practice administers quarterly compliance audits each year.
In alignment with CREB®’s Education first philosophy, audits are an opportunity to bring awareness to the rules and assist members in developing best business practices to reduce risk to the member for future violations.
The 2022 audits will focus on a different compliance requirement each quarter:
- Q1 – Overdue pending.
- Q2 – Overdue withdrawn.
- Q3 – Over one year in active.
- Q4 – Zero days on market.
If you have questions about quarterly audits, please contact Member Practice at crebmp@creb.ca for more information.
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