CREB^®’s Practice Governance Standing Committee (PGSC) and the board of directors are reviewing different methods to develop an enforcement process to uphold the CREA REALTOR^® Cooperation Policy, which was added to the REALTOR^® Code earlier this year.

Currently, CREB^® is working with the other Alberta Real Estate boards through the Change Management Group to land a province-wide approach. It takes time and consideration to examine the options best suited for members, and we look forward to sharing more information once the Board approves a PGSC recommendation.
 
It is important to remember that the Change Management Group and CREB^®’s board of directors are not deciding whether to implement the REALTOR^® Cooperation Policy or not; that decision was made at CREA’s AGM in April this year when CREA member boards/ associations voted to implement this policy.  

CREB^® initially voted against the policy in this form but supported the principle of having more structure around pre-marketing strategies. Therefore. CREB® is now considering the most member-serving way to uphold the REALTOR^® Cooperation Policy.
 
As a result of CREA’s policy, there are some steps that members can take to ensure they are aligned with the policy to reduce the risk of breaching the policy; as it’s said, an ounce of prevention is worth a pound of cure.

Here are the major points in the REALTOR^® Cooperation Policy that members can think about now to adjust their practices before Jan. 3, 2024, to avoid potential breaches.
 
REALTOR® Cooperation Policy high-level recap:

We recommend Brokers and members be familiar with the full CREA policy.

1. Public marketing is advertising a property in a way where more than one person could see the advertisement at one time.

E.g. For sale and other yard signs, social media posts, digital marketing on publicly accessible websites, brokerage displays- both web-based and on-site, listing sharing networks, etc.

Practice pointer: If a seller will not be posting the listing on the MLS^® System, public marketing strategies like a for sale sign cannot be used.

2. If a member publicly markets a residential listing, the property must be added to the MLS^® System within three calendar days.

Practice pointer: Members should review their pre-marketing timelines to ensure any public marketing starts no earlier than three calendar days before the listing is added to the MLS^® System.

3. REALTORS^® must tell their sellers the benefits of listing their property on the MLS^® System.

Practice pointer: Incorporate the following points in your listing conversation:

• Increased exposure of your property to prospective buyers.
• May see more offers on your property.
• May see offers with a greater price, terms and conditions.

4. If a seller does not want their property on the MLS^® System, the listing agent must get the seller’s written decision to keep the property off the MLS^® System, which includes an acknowledgement that the property cannot be publicly marketed.

Practice pointer: Share this information with sellers who do not want their property added to the MLS^® System (a form to support this is under consideration).

• Fewer buyers could see your property, which could reduce the number of offers the seller gets.
• May limit receiving the most favourable offers.