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CREA’s REALTOR® Cooperation Policy is coming January 3 – what you need to know

The Canadian Real Estate Association (CREA) is putting a new policy into effect on January 3 that requires REALTORS® to place their residential listings on the MLS® System within three business days of public marketing, with some exceptions.

 

What's considered public marketing?

  • Emails or phone/video calls to more than one recipient

  • Posts to private social media groups
  • Mass-mailed brochures
  • “For Sale” signs

What’s exempt?

  • One-to-one direct marketing, like
    • Realtor-to-Realtor
    • client from the public
    • developer client
  • Rental property listings, like
    • rental apartments
  • Commercial property listings, like
    • offices
    • agricultural land
    • retail space
  • New construction with multiple properties/units, like
    • condo buildings
    • townhomes
    • residential developments

What if my seller doesn't want to list on the MLS®?

 

If your seller decides they don't want to market their listing on the MLS®, you must receive written confirmation of this decision.

 

This written confirmation from the seller must include a clear instruction not to engage in public marketing of their property, and an acknowledgement that declining to place their property on the MLS® may:

  • result in reduced exposure to the pool of potential buyers;
  • result in a lower number of offers received; and
  • limit the seller’s ability to receive the most favorable offers in terms of price or other terms and conditions of sale.

CREA has developed the REALTOR® Cooperation Disclosure and Consent form to help you comply in this situation. This form will be available on WEBForms after January 3.

 

Info resources

Our Rules of Cooperation will also update on January 3 to align with the Realtor Cooperation Policy.

 

Background

 

Elected representatives from real estate boards across Canada, including REBGV, voted to approve CREA's Realtor Cooperation Policy and establish a new Duty to Cooperate into the REALTOR® Code at their AGM in April. 


The Realtor Cooperation Policy was a recommendation from a CREA working group, which concluded that such a policy would make the MLS® more comprehensive and valuable to Realtors and their clients over the long term.

 

Learn more.

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BOTANICA: New Year Advantage -ONLY 10% DEPOSIT

Secure Your Home Now - 10% Deposit

Thank you to our new homeowners and the West Coquitlam community for being part of Botanica's Building One Release success. To celebrate the New Year and Botanica, you can now take advantage of our reduced deposit structure - and be one step closer to home.

5% NOW  |  5% IN 60 DAYS
Only Until Feb 25, 2024

Discover the natural environment of Botanica—a carefully curated living experience designed to fit seamlessly into the vibrant community of West Coquitlam.

SCHEDULE EXHIBIT APPOINTMENT

ONE BEDROOM + FLEX  HOMES FROM 555-605 SF | STARING UNDER $600,000

TWO BEDROOM / + FLEX FROM 808-1,054 SF | STARING UNDER $800,000

THREE BEDROOM / + FLEX FROM 1,053-1,350 SF | STARTING UNDER $950,000

*Pricing Excludes GST

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LODANA special release of 1 bedroom

SPECIAL RELEASE OF 1 BEDROOM (Interior 569 SF, Exterior 81-108 SF)

Prices starting at $604,900, 1 parking included

DEPOSIT 10% (Pay 5% at firm, 5% March 31st) PLUS receive $10,000 in credits

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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.