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Mar 21, 2023

Q1 compliance audit

By CREB®

CREB® Member Practice will begin auditing MLS® System listings the week of March 27, 2023 to review active CREB® listings that contain multimedia links.

 

Multimedia links are website links that are included in the URL- specific field and must contain the information specific to that field to avoid being considered misleading under CREB® Rule Part I 4.03.

Members must not submit an MLS® listing which is incomplete, inaccurate or includes false and/or misleading information. 

CREB® Member Practice will be randomly selecting listings to audit. Members whose listings are part of the audit will be emailed if the listing needs to be adjusted. 

Key things to know

Taking the time to make sure your MLS® System listing is accurate will help save you time, make sure your listing shows up in searches and can prevent errors that may lead to misalignment with the rules.

Please remember:

  • Multimedia links must be used for their intended purpose.
  • Multimedia links must be property specific and take a consumer directly to the information that corresponds to the field it was inputted under.

Listings that contain multimedia links that do not correspond to their respective field may be considered misleading and could result in the following:

  • 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 further and subsequent offences.

Common things Member Practice will be looking for

Accurate information on the MLS® System is key to maintaining consumer and REALTOR® confidence in the MLS® System and industry professionalism. During this audit CREB® Member Practice will be reviewing:

  • Does the link lead to the multimedia content that corresponds to the field it was added to?
  • Is the link specific to the property that is being listed? 

The difference between virtual tours and 3D images

As they have separate fields, we want to ensure that there is a clear distinction between virtual tours and 3D images.

3D images 

Bring an interactive component to the user so they can navigate the property themselves. 

Virtual Tours 

Recorded videos that take the user on a set tour of the listed property. 

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 2023 audits will focus on a different compliance requirement each quarter:
  • Multimedia links
  • Commercial real property and transaction type
  • RMS supplement and total above-grade consistency
  • Lot size on conventional condos
 
If you have any questions about quarterly audits, please contact CREB® Standards and Practice Advisor, Scott, at crebmp@creb.ca
 

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This is a private CREB® member area. This publication and all editorial content, including the CREB®Chat column, is intended for member use only.

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