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Real Tips

Sep 9, 2024

Top compliance trends: Avoid common MLS® listing mistakes

By CREB®
During July and August, Member Practice identified several common listing issues. To help prevent these errors in your upcoming MLS® listings, here are the top rule violations and tips to address them.

Disclosing the legality of a suite

Tip: Whenever you use the word "suite" in the public remarks, specify whether it's "legal" or "illegal" so consumers are aware of the suite's status. Learn more here.

Advertising the potential for a suite without proper disclosures

Tip: When advertising that a property can be modified to include a suite, use caution. Always include the disclosure, "subject to the approval and permitting of the City," if promoting the property's potential for conversion to a suite.

Updating a pending listing within two business days

Tip: Keeping information current for REALTORS® and their clients is essential for the MLS® System. Use built-in Matrix™ tools, such as the "My Overdue Pending Listings" report, to check when a listing's condition due date has passed and needs updating.

Inputting incorrect listing information

Tip: Before activating your listing, preview it to catch any input errors. Save your incomplete listing, then on the Matrix™ dashboard, hover over "My Matrix™" and select "My Listings." Click on "My Incomplete Listings" to preview the MLS® listing and review the Agent Full View.

Levels on apartment listings

Tip: For MLS® purposes, the "Levels" field refers to the number of levels inside the unit, not the building.

Transaction type for commercial listings

Tip: When listing a commercial property, ensure the transaction type reflects the real estate component. If you're listing a business in a leased space, the correct transaction type is "For Lease," with the "Business" option set to "Yes." If you have any compliance questions, contact CREB® Member Practice at crebmp@creb.ca for more information.

If you have any compliance questions, contact CREB® Member Practice at crebmp@creb.ca for more information.

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