On January 3, 2024, the REALTOR® Cooperation Policy comes into force. This marks a significant step towards preserving the integrity and comprehensiveness of MLS® Systems, while providing REALTORS® with rich, accurate, and extensive data.
Under the policy, if public marketing of a 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. The policy also requires REALTORS® to inform their seller clients of the benefits of marketing their listing on an MLS® System – and, if the seller decides to forego this option, they confirm the decision in writing.
Placing a property on an MLS® System provides your clients with increased exposure to a broader pool of potential buyers. In addition, with more sellers on MLS® Systems, your clients benefit from more choice, giving them more opportunity to find their dream home. This practice also benefits REALTORS®, by continuing to place cooperation at the heart of every real estate transaction.
As members of the Canadian Real Estate Association (CREA), REALTORS® agree to adhere to the ethical obligations set out in the REALTOR® Code, and boards and associations are required to adopt and enforce the REALTOR® Code with their members. The new “Duty of Cooperation” in Article 30 of the REALTOR® Code will form part of these ethical obligations and provide boards and associations with the authority to enforce REALTOR® Cooperation under existing REALTOR® Code enforcement procedures.
Ahead of January 2024, CREA will continue to provide resources and information at CREA.ca/REALTORCooperation, including updated FAQ, policy documentation, infographic
and a white paper on the benefits of MLS® Systems.
If you have any questions, please contact CREA’s Member Experience Centre by calling
1-888-237-7945 or emailing support@crea.ca.
