The results of overdue withdrawn listings audit are in - take a look at the results.
Between June 15 and June 22, CREB® Member Practice carried out an audit to ensure that all withdrawn listings are in compliance with MLS® System Listing Rule 3.05:
A MLS® Listing may be temporarily withdrawn for up to ten (10) Calendar Days per withdrawal request, provided that the Listing Brokerage provides written instruction to the Board that are signed by the person(s) who signed the MLS® Listing Contract and that state the reason for temporary withdrawal/suspension.
CREB® Member Practice audited over 35 CREB® MLS® System Listings in withdrawn status during the audit. Only 14 of those listings had been withdrawn for more than 10 days, with two educational advisories issued.
The results below demonstrate breakdown of CREB® overdue withdrawn listings in comparison to the whole Pillar 9™ MLS® System.
Thank you to CREB® members and brokers for reviewing their withdrawn listings before and during the audit and updating them to ensure the properties were in the correct category.
Click here for more information about how to use the withdrawn status accurately.
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- Q2 – Overdue withdrawn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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