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New TRREB MLS Rules Take Effect December 2, 2024

New MLS® Rules Take Effect on December 2, 2024

As we move to a larger provincial MLS® System, the MLS® Rules are changing on Monday, December 2, 2024. Based on feedback from Member Associations across the province, we are taking steps to modernize the MLS® Rules with a goal of unifying the Rules for all users of the PropTx MLS®System. As of this date, the new Rules are in effect and apply to all listings placed on the MLS® System.

Read the New MLS® Rules

Unifying the Rules: The new Rules unify and harmonize the requirements applicable to REALTORS® using the PropTx MLS® System across the province.

Clarifying and Guiding: The new Rules provide you with more clarity and ensure you and your clients have access to accurate, transparent, and timely data.

 

Important Changes:

  • You are now required to update your listing the next business day instead of within two business days.
  •  The deadline to pay commission is seven calendar days from the completion of the transaction instead of 10 calendar days.
  •   The responsibility for cancelling an appointment is extended from the Co-operating Brokerage to the Listing Brokerage.
  •   There are new specific requirements for individual fields, including:
  •   The public facing fields must only display comments concerning the property.
  •   The Broker Remarks field must only display comments which provide information that could impact Co-operating Brokerages.
  •   Once available, the Offer Remarks field must display all comments related to the preparation and registration of an Offer. The content of the Seller Direction Form is entered in this field and the Seller Direction Form must be signed.

 

What Else to Expect:

  •  Rule Numbers: The former MLS® Rules are no longer in use. This means you will need to familiarize yourself with the new numbering as many of the Rules were reorganized.
  •   Rule Categories: The Rules are newly categorized so you can easily determine how they apply to your Listing.
  •   Specific Examples: To help you better understand the expectations of the Rules, you can review examples of the Rules and how they apply to your Listing.