Last week we outlined amendments to the CREB® Rules which take effect today. The updates to the rules strengthen clarity, consistency and best practices to support best practices.
The updates to the rules strengthen clarity, consistency and best practices to support best practices.
Specific changes to the rules can be found here.
|
Rule |
Practice DO's |
Practice DON'TS |
|
Use of board-supported tools Systems such as showing software must be used only for their intended purpose and not to create access restrictions. |
• If a seller has preferred showing times, use the private remarks to share preferences. • Only restrict portions of a day in Showing Time, if using that feature. |
•Restrict everyday, all day, in "Showing Time" to prevent showing requests from being made. |
|
Solicitation of Members Board property and events remain neutral ground, with no solicitation or recruiting of members permitted. |
• Enjoy networking and meeting other industry members at the board and board events. |
• Hand out pamphlets, fliers or other recruiting materials, or verbally suggest other members join another brokerage or team. |
|
Co-operating brokerages MLS® Listings must not exclude any member brokerage from participating. |
• Make properties equally available to members bringing potential purchasers. |
• Deny access to properties for specific agents. |
|
Accumulated sales data All unconditional sales must be reported within two business days, even if a listing has expired or been terminated, if it was known to have sold while the Listing Agreement was in force or during the hold-over clause. |
• Continue to report unconditional sales on time. • Report to CREB® if a property sold during the listing contract's holdover period. |
• Withhold sales data that is required to be reported. |
|
Lockbox protocols New requirements aim to reduce theft and liability while ensuring members can safely access the lockbox. |
• Make sure the serial number is visible on the lockbox being used on multi-family complexes. • Ensure unit keys inside the lockbox have the serial number of the lockbox to which they belong when listing in a multi-family complex. • Tell the showing agent the lockbox serial number at the multi-family complex.
|
• Place lockboxes in hard-to-reach spaces (too high or too low). |
|
Definition of "sale" Includes both sales and leases, clarifying the spirit and intent of MLS® Listing Rules. |
• Continue to report transactions that result in a firm offer to purchase or lease. |
• Terminate listings to avoid reporting a sale. |
|
Updating withdrawn listings Reinforces the temporary nature of the withdrawn status. |
• Remember to fix withdrawn listings within 10 days if they've been withdrawn due to non-compliance. |
• Relist the property instead of fixing the listing in withdrawn status. |
Read last week's CREB®Talk – Sept. 23 for more details.
For questions about the amendments and how they affect your practice, contact crebmp@creb.ca.
{ 0 comments…}