CREA Rules - Amendment UPDATE

2012年7月20日
 
 
 

  • As a result of amendments to CREA Rules that were approved by Members at CREA's AGM on March 22, 2010, all Boards and Associations are required to amend as may be necessary their Rules or By-Laws as soon as practically possible to conform to such CREA amendments.

  • TREB will be reviewing its own MLS® Rules and posting any recommended amendments on Stratus/TorontoMLS for 60 days, before implementation.
  • In addition, please be mindful that RECO's Code of Ethics will continue to regulate all REALTORS® and registrants. 

    RULE AMENDMENTS

    RULE 17: OPERATION OF A BOARD’S MLS® SYSTEM

    17.1: Acceptance of Listings

    17.1.1: The Three (3) Pillars of the MLS® Mark

    Only listings that comply with the following three (3) pillars of the MLS® Mark can be placed on a Board/Association’s MLS® System.

    17.1.1.1: Membership

    Only REALTORS® may place a listing on a Board/ Association’s MLS® System.

    17.1.1.2: Agency

    A listing REALTOR® must act as agent for the seller in order to post, amend or remove a property listing in a Board’s MLS® System. The nature of any additional services to be provided by the listing REALTOR® is determined by agreement between the listing REALTOR® and the seller, subject to applicable regulatory requirements and the Rules of CREA and Boards/Associations.

    17.1.1.3: Compensation to Co-operating Broker

    The listing REALTOR® agrees to pay to the co-operating (i.e. selling) REALTOR® compensation for the co-operative selling of the property. An offer of compensation of zero is not acceptable.

    17.2: Interpretations of the Three Pillars of the MLS® Mark

    17.2.1: The listing REALTOR® shall be available to provide professional advice and counsel to the seller on all offers and counter offers unless otherwise directed by the seller in writing.

    17.2.2: The listing REALTOR® is responsible and accountable for the accuracy of information submitted to a Board/Association for inclusion in the Board's MLS® System, and the Board/Association is responsible for ensuring that the data submitted to it meets reasonable standards of quality.

    17.2.3: Only REALTORS® are permitted to display the MLS® trademarks in signage, advertising, etc.

    17.2.4: Where the seller directs the listing REALTOR® in writing to do so, the seller’s contact information may appear in the REALTOR® only remarks (non-public) section of a listing on a Board/Association’s MLS® System. The seller's contact information shall not appear on REALTOR.ca or in the general (public) remarks section of a listing on a Board/Association's MLS® System. The listing REALTOR® may include a direction in the General Description section on REALTOR.ca or on websites operated by CREA or a Board/Association to visit the REALTOR® website to obtain additional information about the listing (but the nature of such additional information shall not be specified).

    17.2.5:

    W

    here the seller has reserved the right to sell the property himself/herself, that fact shall be specified in the Board/Association’s MLS® System
 
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