When the market is hot and properties are moving fast, it can be hard to keep cool. 

CREB^® Member Practice has recently seen an increase in compliance issues and will be providing members with hot market real estate rules and reminders over the coming weeks to keep pace with these trends.  

Today’s article provides an in-depth recap of last week’s Matrix™ reminders.

Overlapping showings? Keep everyone in-the-know

If the need arises to book an overlapping appointment, first approve with the sellers if they are comfortable with multiple parties entering the property at one time. If you have sellers' instructions to allow this and overlapping showings have been scheduled, be sure to advise buyers' agents of these overlapping appointments so they know what to expect and how to manage the showings. 

Has your client's property proved to be quite popular? Consider having a listing agent on-site to facilitate access to the property and to avoid keys being handed between agents without them being first returned to the lockbox. Ensure the seller provides permission for this and be aware of any additional brokerage policies when bringing in another REALTOR^® in to assist. 

Don’t send your buyers on a road trip without you! 

As a reminder, Rule Part II 4.03 states: “Excluding show homes or open houses, members shall not suggest to a buyer that they view properties with other members with the intention or instruction to the buyer to return to the first Brokerage Representative to write an offer on a subject property.”

When you have signed a representation agreement with a client, it becomes your responsibility to represent them throughout the property search and during showings, not only at the offer stage. If you are unable to accompany buyers to showings, it is your duty to refer the client(s) to another REALTOR^® to assist them.  

Please check with your brokerage to familiarize yourself with any policies and procedures that outline how to manage referring a client to another REALTOR^® or accepting a referral client.  

Looking to review the CREB^® Rules? CREB^®Link will always have the most up to date CREB^® Rules available to our members. Member Practice is also available if you have questions about the rules or if you would like to know how the CREB^® Rules or REALTOR^® Code may apply to a unique situation you’re facing.