Please ensure that your pending listings have been updated in accordance to the CREB^® rules for reporting conditional sales, prior to the next compliance audit on March 28, 2022.

All MLS^® listings, regardless of the category they are in, are required to have their pending listings updated within two business days, as per CREB^® Rule Part I 4.02(a).

CREB^® Member Practice will be sending out emails to members between March 28 and April 1 if the member's pending listings have been identified in one of the audits.

Listing agents that have not updated their pending listings within two business days of the condition due date may receive:

• An educational advisory for the first violation;
• A $250 fine for the second offence;
• A $500 fine for the third offence; and
• A disciplinary hearing for fourth and subsequent offences.

Tips for Listing Agents

Know your brokerage tools

Many brokerages use transaction management solutions to automatically or electively notify their associates about their transaction activities and actions based on the stage of the deal. Check with your brokerage for available options.

Pillar 9™ solutions

Under the My Listings widget on your Pillar 9™ home page, you’ll find the My Pending Listing report that shows all your listings that are in pending status.

If a pending listing has passed its pending date, Pillar 9™ will notify you the day after the condition due date. When you log into Matrix™, you will receive a courtesy alert letting you know that your pending listing has passed its condition date.

Thank you to all our members who have developed business processes to ensure pending listings are updated within the two business days of the condition due date.

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• Q2 – Overdue withdrawn.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.