Representatives from Greater Vancouver REALTORS® (GVR) and the Fraser Valley and Chilliwack real estate boards have finalized a series of changes to the Rules of Cooperation that will come into effect on August 1, 2024.

The changes are a key part of our ongoing work to raise standards in the profession and implement recommendations from our professionalism white paper.

The changes focus on seven key areas.

Seven key changes

1. Timely Communication standard: A member shall communicate with other members in a timely and effective manner.

2. Accountability for unlicensed assistants: Members are responsible for the actions of their unlicensed assistants, administrators and employees, and members will be held accountable for all conduct and actions undertaken by these individuals on behalf of the member. 

3. Upholding the reputation of the profession: A member shall not conduct themself nor permit their employees to conduct themselves in such a manner as to prejudice their own reputation, the reputation of the Board, or the reputation of the real estate profession.

4. Broker obligation to report completion date changes: The Listing Brokerage must notify the MLS® Department immediately of any amendment to or extension of the completion date.

5. Exempting residential land assemblies from CREA’s REALTOR® Cooperation policy: Listings that are part of a residential land assembly are exempt from CREA’s REALTOR® Cooperation Policy that specifies that all Realtors across Canada must place their residential listings on the MLS® System within three days of public marketing. A residential land assembly is defined as the combining of two or more adjacent residential properties to form a single site that current government policy may allow for development of a commercial property or a residential use with four (4) or more units. 

6. Electrical inspection label for mobile homes: For Manufactured Homes/Modular Homes/Park Model Homes, a photograph of the CSA or BC Electrical Inspection label must be posted by the Listing Brokerage to the MLS® System as an associated document within 24 hours of the listing becoming active on the MLS® System. 

7. Strata Properties – Form “B”: For each strata MLS® listing, the Listing Brokerage shall at the time of taking the listing obtain current relevant strata corporation documents, including but not limited to two (2) years of strata council minutes and strata corporation minutes, registered strata corporation by-laws, financial statements, registered strata plans, information concerning special assessments, either proposed or levied, and a current Information Certificate (Form “B”).

Once implemented, these changes will be required standards for all Lower Mainland Realtors.

Our perspective on these changes

“Through these changes, we are striving to clarify areas of confusion and, most importantly, eliminate behaviour and practices that commonly frustrate members and interfere with your ability to provide efficient and high-quality service to clients,” Jeff King, GVR CEO said. “In particular, we believe it is long overdue to require comprehensive strata documents at the time of listing, have greater Realtor accountability for the actions of their unlicensed assistants, and to establish a clear standard that members with active listings must respond to queries and communicate about their listing in a timely manner.” 

“If you encounter someone who chooses to disregard their professional obligations, we want to hear about it. We encourage members to hold each other accountable by reporting misconduct to concerns@gvrealtors.ca. We will also soon have a professional standards complaint form on WEBForms to streamline this reporting process.”

“Looking ahead, we also intend to implement new measures to expedite the disciplinary process for more minor infractions as a way to strengthen accountability and increase efficiency in the disciplinary process,” King said.
 

Questions?

We’ll continue to communicate about these changes as we approach the August 1 implementation date. 

If you have questions about these new standards, please email us at communications@gvrealtors.ca.