CREA REALTOR Cooperation Policy - FAQ

1) What is the REALTORS® Cooperation Policy?

Simply put, the policy will make it an ethical obligation for real estate professionals to place their listings on MLS within three (3) days of publicly marketing a residential property.

2) Why was this REALTORS® Cooperation Policy being introduced?

According to CREA, one of the main reasons why this new policy was introduced was because the “REALTOR® cooperation increases the level of professionalism of REALTORS®, better serves consumers and strengthens the MLS® Brand”.

3) What types of properties are impacted by the REALTORS® Cooperation Policy?

The new policy only applies to Exclusive and Coming Soon listings. It does NOT apply to Assignments and Commercial listings.

4) When is the REALTORS® Cooperation Policy coming into effect?

The new policy will come into force on January 3, 2024. Until then, BrokerPocket will allow all listings types to be listed for a maximum time period of 180 days.

5) What is the opinion of BrokerPocket regarding the REALTORS® Cooperation Policy?

After consulting with many clients, agents and industry stakeholders, it is the opinion of BrokerPocket that the REALTORS® Cooperation Policy has significant challenges and should be reconsidered.

Ultimately, we believe in consumer choice and that the Seller has the right to choose how and where their property is sold. This right supersedes any potential benefits of forcing all sellers to place their properties on the MLS system to gain maximum exposure. Furthermore, this policy can have serious legal repercussions and can further polarize our industry stakeholders.

There is overwhelming support from individual real estate practitioners in favour of abolishing the policy as it does not increase the level of professionalism. Instead, it limits consumer choice and creates further mistrust and suspicion between agents and clients.

6) How to avoid/bypass the REALTORS® Cooperation Policy?

According to CREA, agents who wish to market their clients Exclusive for longer than three (3) days, can do so:

If a seller decides to forego placing their listing on an MLS® System the seller must provide written confirmation of this decision to the listing REALTOR®, which shall include:

a specific instruction not to engage in Public Marketing of their property, and an acknowledgement that declining to place their property on an MLS® System:

7) Will BrokerPocket remain legal with the new REALTORS® Cooperation Policy?

YES! BrokerPocket has always, and will always, comply with the regulations implemented by its members governing body, such as CREA.

Once the new proposed policy comes into effect, maximum listing periods for Exclusives and Coming Soon listings will be reduced to THREE (3) days. This only impacts real estate professionals who are governed under CREA.