Last week, the Canadian Real Estate Association (CREA) announced that effective Jan. 1, 2023, a new REALTOR® Cooperation Policy will come into effect that defines the timing of posting Coming Soon Listings to the MLS® System.
This policy will require that REALTORS® must place their listing(s) on their board’s MLS® System for cooperation with other REALTORS® within three (3) days of public marketing. The policy seeks to reinforce cooperation among REALTORS®, which will better serve the needs of consumers, strengthen the MLS® and REALTOR® trademarks, and increase the level of professionalism.
CREA is giving boards and associations time to adopt and develop enforcement protocols for their members to support the policy.
CREB® is reviewing the implications of CREA's decision and weighing the optimal timing for the implementation of the required rule integration. Members will be provided with updates as more information is available.
To read CREA’s complete policy and a list of questions and answers, please visit member.CREA.ca.
CREA FAQs
Can a listing brokerage or REALTOR® “opt-out” of the policy’s obligations?
No, there is no mechanism for listing brokerages and/or REALTORS® to “opt-out” of the policy. This policy will be adopted by all board/association members of CREA as part of their MLS® System rules or equivalent policy and apply to all members who publicly market property listings.
Does this policy apply to non-active property listings (like “Coming Soon” listings)?
Yes. This policy applies to all listings that are publicly marketed, whether they’re active when public marketing begins or not. REALTORS® should be prepared to place all property listings on their board/association MLS® System within the required timeframe once public marketing begins.
What’s considered “public marketing”?
The policy defines “public marketing” as the representation or marketing of a listing to the public or any REALTOR® not directly affiliated with the listing brokerage/office in a business capacity and includes any representation regarding the sale of the property (flyers, yard signs, digital marketing on public-facing websites, brokerage website displays, social media posts, etc.).
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