This update includes:
- Amendments to clarify and correct the wording of certain rules; and
- A rule addition related to auction listings on the MLS® System.
Read more about this CREB® Rules update below:
Amendment to CREB® Rule Part III 2.03 (b) to address the referenced legislation
This rule incorrectly referenced a section of the Civil Enforcement Act; however, the Civil Enforcement Act has now been replaced with "by the judicial order."
The judicial order will include an access component to reference. This will reduce risk in referring to legislation that can be amended (such as the current rule, which references a section of the legislation that no longer applies).
Amendment to CREB® Rule Part III 3.05 related to Temporary Withdrawals/Suspensions
The wording "per withdrawal request" has been added to clarify that this rule is specific to each individual withdrawal request.
Removal of references to the "MLS® System database"
Amendments have been made to multiple rules to remove references to the "MLS® System database."
The rules should refer to the whole system, not just the database of listings.
This change has been made to eliminate a CREA trademark violation by referring to the MLS® System as a "database" (page 13 of the CREA Trademark Manual).
New rule addition to address auction listings in the MLS® System
A new rule has been added to specifically address auction listings in the MLS® System. Found under CREB® Rule Part III 2.08 Auction Listings, it states:
"The Board may allow the posting of auction listings on their MLS® System providing the listing and associated contract(s) are in accordance with these rules and all other regulatory requirements."
This rule will provide clarity that a board may accept an auction listing on the MLS® System. It is the responsibility of other boards to manage the listings within their unique policies and in adherence to all regulatory requirements.
To access CREB® Rules on CREB®Link, please click here.
If you have any questions or concerns about the CREB® Rules update, please contact CREB® Member Practice at mp@creb.ca or 403-781-1336.
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