On January 3, 2024, the REALTOR® Cooperation Policy comes into force, putting into effect the new “Duty of Cooperation” in Article 30 of the REALTOR® Code.
What does the policy require?
If public marketing of a residential listing occurs, REALTORS® are required to place the listing on an MLS® System within the timeframe adopted by their board or association unless an exemption applies. The policy provides that this timeframe may be up to a maximum of three days.
What are the exemptions?
The policy does not prevent brokers from exclusively representing a buyer or seller.
The policy does require that REALTORS® inform their seller clients of the benefits of marketing their listing on an MLS® System – and, if the seller decides to forego the benefits of public marketing, confirm the decision in writing.
What is public marketing?
Public marketing means to the public and/or any REALTOR® not directly affiliated with the listing brokerage/office in a business capacity.
Itʼs not considered public marketing when a listing REALTOR® markets directly to REALTORS® from another brokerage or office. “One-to-one” marketing does not trigger the policy, but “one-to-many” does.
How does this benefit you and your clients?
Win for sellers: Placing a listing on an MLS® System provides more exposure to potential buyers.
Win for buyers: More sellers on MLS® Systems mean more choice for buyers.
Win for REALTORS®: Cooperation between REALTORS® is at the heart of every real estate transaction.
Find everything you need to know about the REALTOR® Cooperation Policy, including answers to more frequently asked questions at CREA.ca/REALTORCooperation.
If you have any questions, please contact CREA’s Member Experience Centre by calling
1-888-237-7945 or emailing support@crea.ca.
