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Real Tips

Sep 9, 2024

Top compliance trends: Avoid common MLS® listing mistakes

By CREB®
During July and August, Member Practice identified several common listing issues. To help prevent these errors in your upcoming MLS® listings, here are the top rule violations and tips to address them.

• Disclosing the legality of a suite

Tip: Whenever you use the word "suite" in the public remarks, specify whether it's "legal" or "illegal" so consumers are aware of the suite's status. Learn more here.

• Advertising the potential for a suite without proper disclosures

Tip: When advertising that a property can be modified to include a suite, use caution. Always include the disclosure, "subject to the approval and permitting of the City," if promoting the property's potential for conversion to a suite.

• Updating a pending listing within two business days

Tip: Keeping information current for REALTORS® and their clients is essential for the MLS® System. Use built-in Matrix™ tools, such as the "My Overdue Pending Listings" report, to check when a listing's condition due date has passed and needs updating.

• Inputting incorrect listing information

Tip: Before activating your listing, preview it to catch any input errors. Save your incomplete listing, then on the Matrix™ dashboard, hover over "My Matrix™" and select "My Listings." Click on "My Incomplete Listings" to preview the MLS® listing and review the Agent Full View.

• Levels on apartment listings

Tip: For MLS® purposes, the "Levels" field refers to the number of levels inside the unit, not the building.

• Transaction type for commercial listings

Tip: When listing a commercial property, ensure the transaction type reflects the real estate component. If you're listing a business in a leased space, the correct transaction type is "For Lease," with the "Business" option set to "Yes." If you have any compliance questions, contact CREB® Member Practice at crebmp@creb.ca for more information.

If you have any compliance questions, contact CREB® Member Practice at crebmp@creb.ca for more information.

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