What are the rules of the REALTOR® Cooperation Policy?
Understand everything you need to know with key elements highlighted
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Key Elements
Let us walk you through some of the most relevant key elements of the REALTOR® Cooperation Policy as it relates to agents marketing of Exclusive and Coming Soon Listings
Visit our related article: “Do I choose Exclusive or Coming Soon as a Listing type?”
The FOUR top-level key elements of the Policy
The numbers below correspond to the Policy’s highlighted text in the image below.
- “Where public marketing of a listing occurs, the listing must be placed on an MLS® System…” What’s important about this statement is not the time frame of three days but the fact that if an agent takes any action that is considered to be “Public Marketing” means the agent “MUST” place the listing on the MLS® - whether or not the seller wants it on the MLS®
- “…excluding “one-to-one direct communication…” It‘s essential to understand that whether an agent has an Exclusive or Coming Soon listing, as long as the paperwork is signed the agent can market the property to interested colleagues via a direct, one-to-one communication
Listed is the only Canada wide system (we are aware of) that exists and is fully compliant with the Canadian REALTOR® Cooperation Policy. Listed has a simple, built-in, direct, one-to-one messaging system and, with all the rules baked-in to the structure of the application, agents can’t make a mistake regarding the Policy. Listed’s feature, the Broker List® feed type of Exclusive and Coming Soon listings, helps agents serve clients who a) cannot otherwise go to MLS® and b) want to get pre-market attraction for listings they have that are coming to market.
- “…marketing on a one-to-many basis, involving access to a listing by more than one recipient (for example via an email blast or private social media group) will trigger the basic rule.” It’s essential to understand that the private messaging groups, websites under a sign in, and emails that have a bcc with multiple recipients are all included in “public marketing” under the Policy.
- “…If a seller decides to forego this option, the decision must be confirmed in writing to the REALTOR®…” Agents have a new Cooperation Disclosure and Consent Form to have completed. Here is a link to the document.
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