Please note that effective June 24, an exception has been made to the Reporting of Sales Rule.

If a seller has accepted a conditional offer subject to the Sale of Buyer’s Property, they can now instruct their Listing Brokerage in writing to keep their listing as Active on the MLS^® System or mark it as Pending.

If a seller provides written instruction to keep the listing active, the listing agent must:

• Disclose the Special Clause Sale in the Private Remarks of the listing;
• Disclose the Seller’s Notice period from term 1.6 of the Sale Buyer’s Property Schedule (e.g., 24 hours) in the Private Remarks of the listing; and
• These disclosures must be added to the Private remarks within two (2) business days of the seller accepting the conditional offer.
  

Please note, Conditional Sales subject to Sale of Buyer’s Property are sometimes referred to as Special Clause Sales. Special Clause Sales remaining in Active Status are subject to showing requirements under CREB^® Rule Part III 2.03(b).

Examples of Private Remarks disclosures that meet the rule exception requirements:

• Special Clause – 48 hours.
• Subject to Sale of Buyer’s Property - 24 hours.
• 12-hour special clause in place.
• Conditional to buyer’s home selling - 24-hour clause.

Examples of Private Remarks disclosures that do NOT meet the rule exception requirements:

• Special Clause.
• Subject to Sale of Buyer’s Property.
• Conditional to buyer’s house selling.
  
  

Why this change was made

CREB^® has been actively monitoring the Jan. 3 rule update that required mandatory reporting of pending status, and its impact to both member experience and client expectations.

Over the last six months, member feedback and client perspectives gave CREB^® valuable insight to practical implications of the rule change. It became clear that reporting Special Clause Sale as Pending did not meet the intentions of a Special Clause Sale.

CREB^®, along with other boards in Alberta, shared similar concerns and we advocated for an exception to mandatory reporting of Conditional Sales as Pending if the accepted offer is subject to the Sale of Buyer’s Property.

Please note, the CREB^® Rules will be updated shortly to incorporate this exception.